The Global Automotive Window and Exterior Sealing Systems Market is estimated to be USD 18.26 Billion in 2016 and is projected to grow at a CAGR of 7.07% from 2016 to 2021, to reach USD 25.69 Billion by 2021. The growth of this market is fueled by technological developments and increased vehicle manufacturing in the emerging economies due to urbanization.
Growth Drivers:
1 Industry Moving Towards Light Weight Sealants
2 Increasing Demand for Modified Elastomers
3 Growing Passenger & Commercial Vehicle Market Globally
The ecosystem of the automotive window and exterior sealing systems industry consists of manufacturers such as Cooper Standard INC (USA), Hutchinson Automotive (France), Magna International (Canada), Sumitomo Chemical Co. Ltd (Japan), Toyoda Gosei Co., Ltd (Japan), Minth Group (China), and Henniges Automotive Holdings INC. (USA).
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The Asia-Pacific region is estimated to dominate the automotive window and exterior sealing systems market, in terms of value, in 2016, as it comprises some of the fastest developing economies in the world, including China, India, and South Korea. This has led to an increase in automotive window and exterior sealing systems volumes in recent years, with OEMs catering not only to the domestic demand but to overseas demand as well.
The market has been segmented on the basis of vehicle type (passenger vehicle, light commercial vehicle, heavy commercial vehicle and electric vehicle), component type (glass run channels, roof ditch molding, door seals, front window shield, rear window shield, hood seals, trunk seals, waist belt seals, and glass encapsulation) and region (Asia Pacific, Europe, North America, and ROW). In terms of vehicle type, the Electric Vehicle (EV) sealing systems market is projected to grow at the highest CAGR during the forecast period, as these are the future emerging market which will propel the overall growth of automotive window and exterior sealing systems market. However, the passenger vehicle sealing systems market is already matured market, which shows a decent compound annual growth rate during the forecast period.
The door seal segment of the automotive window and exterior sealing systems market is estimated to account for the largest market share, in terms of value, in 2016. The door seal segment leads this market, due to its common usage in all automotive vehicles either passenger vehicle or commercial vehicle that rolls out of the manufacturing unit. The second-largest in the segment are waist belt seals with the largest market share, in terms of value, in 2016.
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Target Audience:
- Automotive sealing systems manufacturers
- Sealing systems material suppliers
- Industry associations
- Industry Experts
- OEMs
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