The increasing adoption of vehicles will boost the sales of automotive window and sealing systems in the coming years. The rapid urbanization in emerging economies, such as China, Indonesia, and India, has fueled the adoption of commercial and passenger vehicles in these countries. Moreover, the soaring disposable income of people in developed and developing nations will also propel vehicle sales in the coming years. Owing to this reason, the adoption of such systems will escalate in the near future.
As a result, key auto component companies, such as Toyoda Gosei Co. Ltd., Cooper Standard Holdings Inc., DURA Automotive Systems, and Hutchinson Sealing Systems Inc., are focusing on facility expansions and partnerships to expand their presence. For example, Cooper Standard Holdings Inc. revealed its plan to construct a 100,000-square-foot rubber manufacturing plant in Aguascalientes, Mexico, in June 2018. The company has localized its elastomer mixing capabilities and grown in the country through its new facility.
Automotive window and sealing systems include glass run channels, waist belt seals, roof ditch moldings, hood seals, trunk seals, front windshield seals, door seals, rear windshield seals, sunroof seals, encapsulated glass, corner moldings, and end caps. Over the years, the usage of glass run channels has notably increased among aftermarket entities and OEMs due to a surge in the research and development (R&D) activities for substitute materials, to meet the demand from the automotive cockpit industry.
According to P&S Intelligence, the Asia-Pacific (APAC) region led the automotive window and sealing systems market in the past, and it is expected to display the fastest growth in the coming years. This can be owed to the soaring disposable income and escalating gross domestic product (GDP) of developing countries, particularly India and China. Due to these reasons, the production and adoption of automobiles have significantly increased in these countries. The Society of Indian Automobile Manufacturers (SIAM) states that India produced 3,434,013 passenger vehicles and 752,022 commercial vehicles during Financial Year 2019–2020.
Thus, the surging adoption of passenger and commercial vehicles will accelerate the adoption of automotive widow and sealing systems in the coming years.
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