The automotive glass market is a rapidly growing industry that is driven by the increasing demand for vehicles, as well as advancements in glass technology. The market is segmented into original equipment manufacturers (OEMs) and aftermarket.
One of the major drivers for the market is the increasing adoption of advanced features such as laminated, tempered, and acoustic glass, which provide better safety and noise reduction. Additionally, the growing trend of electric and autonomous vehicles is also expected to drive the market.
Another major driver for the market is the increasing demand for luxury and premium vehicles. These vehicles typically have advanced glass features, which is driving the market for high-end glass products.
The market is highly competitive, with major players such as AGC, Saint-Gobain, and Nippon Sheet Glass Co. Ltd. competing for market share. The competition is expected to further increase with the entry of new players in the market.
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The market for automotive glass is expected to grow at a CAGR of around 5% during the forecast period from 2020 to 2025. North America and Europe are expected to dominate the market due to the presence of a large number of OEMs and aftermarket players in these regions.
Overall, the automotive glass market is expected to continue its growth trajectory in the coming years, driven by the increasing demand for vehicles and advancements in glass technology.
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