The global automotive industry is undergoing a transformation. The innovation and development of efficient windows and sealants, which provide protection against rust and corrosion on the surface of the vehicle and protect passengers traveling in the automobile, have gained considerable importance to produce automobiles that provide a higher level of passenger comfort.
According to Market Research Future (MRFR), the global automotive window and exterior sealing system market Value is projected to report a CAGR of approximately 7% from 2017 to 2023 (forecast period). The study provides a rigorous and in-depth assessment of the effect of the COVID 19 pandemic on the global automotive window and exterior sealing system market Value.
Market Dynamics
Several factors are responsible for the development of the global market for automotive windows and exterior sealing systems. Firstly, industrialization is degrading the environment and triggering irreversible climate change. This results in global warming and extreme weather conditions. Automobiles manufactured these days need to protect passengers from harmful environmental conditions. Secondly, the durability of the automobile, which determines the number of years to which the automobile can be used at its maximum potential, depends on the wear and tear of the exterior surface, the functionality of the engine, and the maintenance of the vehicle. The interior of the vehicle can be well maintained, well protected from dust and other environmental impurities if automakers invest in appropriate window and exterior sealing systems.
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Key Players
The Industry giants in the global automotive window and exterior sealing system market Value are Lauren Plastics, LLC (U.S.), Saar Gummi Czech S.R.O. (Czech Republic),Henniges Automotive North America, Inc. (U.S.), Magna International Inc. (Canada), Hutchinson Sealing Systems, Inc. (U.S.), Cooper-Standard Automotive Inc. (U.S.), Sumitomo Chemical Co., Ltd. (Japan), REHAU Incorporated (U.S.), PPAP Automotive Ltd. (India), Minth Group Limited (China), Standard Profil A.S. (Turkey), and Toyoda Gosei Co., Ltd. (Japan), among others.
Market Segmentation
The global automotive window and exterior sealing system market Value has been segmented into component type, exterior seals, and vehicle type.
By component type, the global automotive window and exterior sealing system market Value has been segmented into roof ditch molding, seals, and glass run channels. The glass run channels are the most used due to the low cost of production. Plastic reinforced glass, which is preferred in the automotive industry, can be easily mass-produced, and the cost of production decreases dramatically as the volume of bulk production rises. The window sealant system is very useful in insulating the interior of the automobile from the onslaught of heat and dust particles, thereby serving as a thermal and physical insulator providing airtight protection to the interior of the vehicle. However, the cost of producing seals is very high. In addition, the seals of the exact specifications need to be manufactured to meet the precise requirements of the automobile window and chassis dimensions so that they can be correctly installed.
By exterior seals, the global automotive window and exterior sealing system market Value has been segmented into trunk heals, hood seals, and front windshield seals. The hood seals are not a necessity and, therefore, are installed as an added feature. The front and trunk windshield seals are most widely used in the automotive manufacturing process.
By vehicle type, the global automotive window and exterior sealing system market Value has been segmented into passenger vehicle, light commercial vehicle (LCV), high commercial vehicle (HCV), and electric vehicle (EV).
Regional Analysis
By region, the global automotive window and exterior sealing system market Value has been segmented based on North America, Asia Pacific, Europe, and the Rest of the World.
The overall market size of the global automotive window and exterior sealing system was valued at USD 18 billion in 2016. The U.S. market for the same system was valued for approx. USD 6 billion in 2016. As a result, the window and sealing industry derives one-third of its overall sales from the North American market. The Asia Pacific region has the highest number of automobiles due to the highest population compared to any other region making this region the next largest market for window and exterior sealing systems. The European region experiences extreme cold temperatures for the better part of the year. Extreme weather conditions highlight the value of a properly working window and exterior sealing system, which is essential for passenger safety.
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