Leading market participants are investing largely in research and development in order to spread their product lines, which will help the Glazing for Automotive market grow even more. Market participants are also undertaking a various strategic activities to expand their global footprint, with significant market developments consisting of new product launches, contractual agreements, higher investments, mergers and acquisitions, and collaboration with other organizations. To enlarge and survive in a more competitive and rising market climate, glazing for automotive industry must offer cost-effective items.
Manufacturing locally to lower the operational costs is one of the key business strategy used by manufacturers in the global glazing for automotive industry to benefit clients and grow the market sector. In recent years, the glazing for automotive industry has provided some of the major significant advantages to the automotive industry. Major players in the Glazing for Automotive market, including Teijin Limited, Benet Automotive, Covestro AG, SABIC, Pilkington Group Ltd., NordGlass, Central Glass Co. Ltd, Research Frontiers, American Glass Products, and others, are attempting to raise the market demand by investing in research and development operations.
SABIC is a leader globally in chemicals, headquartered in Riyadh, Saudi Arabia, with its manufacturers on a global scale in America, Europe, the Middle East, and Asia Pacific, providing various kinds of products like chemicals, commodities, and high-performance plastics, agri-nutrients, and metals. It also provides customers with key end-use applications like construction, medical devices, packaging, electronics and electrical, transportation, and clean energy. It accounted for a net profit of SR 16.53 billion in 2022, with a production of 61 million metric tons.
Saudi Aramco possesses 70 percent of SABIC shares and 30 percent of publicly traded on the Saudi stock exchange. In October 2019, SABIC introduced polyester-based, high-heat technology XENOY HTX resins for automotive structural applications; they are light in weight, have high resistance, and have high performance. It is applicable in the white components, structural reinforcement, and battery protection systems for electronic vehicles.
Covestro is the world’s leading manufacturer of premium-quality polymer materials and their components. The company focuses on enhancing sustainability and quality products with investment in research and development in mobility, buildings, living, electrical and & electronics sector, sports and leisure, cosmetics and health, and the chemical industry. The company is determined to become fully circular and strive to become climate neutral by 2035.
In October 2019, Covestro introduced its new interior design concept for automatic, electric, and shared mobility where a three-dimensional multipurpose display was designed using Makrolon Ai polycarbonate and Makrofol polycarbonate film, a combination of in-mold decoration and film insert molding was utilized to surface design and durability.