The Global Automotive Window and Exterior Sealing Systems Market was valued at USD 19.11 billion in 2018 and is expected to grow at a CAGR of 6.4% to reach USD 31.47 billion by 2025. The increasing demand for transportation due to population growth and urbanization has led to a rise in the demand for automotive window and sealing systems. Additionally, higher disposable income, economic growth, and technological advancements have resulted in increased production of passenger and commercial vehicles.
The automobile industry is expected to grow in the forecast period due to the revival of the global economy and the financial support provided by various financing organizations to customers, leading to increased sales of cars. The use of traditional materials in the automotive sealant industry is being replaced by newer materials such as Vulcanized Thermoplastic, Thermoplastic Elastomers, and Thermoplastic Olefins, which provide better material properties and increased durability.
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One of the key challenges faced by the automotive industry is improving fuel efficiency. Original equipment manufacturers (OEMs) are focusing on reducing the weight of vehicles and improving overall motor efficiency by using lightweight components and modifying the structural design of the vehicle. The passenger car segment is expected to dominate the automotive window and exterior sealing systems market due to the increasing demand for personal cars and taxi services in emerging economies.
Driving factors of Automotive Window and Exterior Sealing Systems Market
Some of the notable innovations in the Automotive Window and Exterior Sealing Systems Market
The major players in the market are
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