Automotive Window and Sealing Systems Market to Re

NEW YORK, July 04, 2017 (GLOBE NEWSWIRE) -- According to a new market research report “Global Automotive Window and Sealing Systems Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Components (Glass Run Channel, Waist Belt Seal, Roof Ditch Molding, Hood Seal, Trunk Seal, Front Windshield Seals, Door Seals, Rear Windshield Seals, Sunroof Seal), by End-Use (OEMs and Aftermarket), by Application (Passenger cars, Commercial Vehicles and Electric Vehicles)” published by P&S Market Research, the global automotive window and sealing systems market is projected to reach $29,515 million by 2023, growing at a CAGR of 8.2% during the forecast period (2017 – 2023).

As per the research, the global automotive window and sealing systems market high is likely to grow from $17,064.0 million in 2016 to $29,515.0 million by 2023. The rapidly growing automotive industry especially in emerging economies of Asia-Pacific, Africa and Latin America is generating significant demand for automotive sealing systems.

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The automotive window and sealing systems market include products such as glass run channel, door seals, front and real windshield seals, and others exterior seals. These products are mainly manufactured using ethylene propylene diene monomer (EPDM) as the raw material; however, as the technology has developed, thermoplastic elastomers find their use as raw materials. The developing economies such as India and China use EPDM as raw materials. Whereas the technologically-advance markets such as U.S. and Germany, use Thermoplastic Elastomers (TPEs) as raw material for exterior sealing systems. The new technology is likely to be adopted in developed countries during the forecast period.

In 2016, Asia-Pacific held the largest share in the global automotive window and sealing system market with over 40% share, in terms of value. The global automotive window and sealing systems market is expected to grow at a CAGR of 8.2%, during the forecast period, owing to increase in global GDP and rapid growth in developing countries such as India and China. Additionally, the European market for automotive window and sealing systems market is expected to witness significant growth during the forecast period, owing to increase in manufacturing of commercial vehicles in developed countries such as Germany and the U.K.

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The research states that the global automotive window and sealing systems market had a consolidated structure in 2015, where the market is dominated by organized players. Some of the key players in the global automotive window and sealing systems market include Cooper Standard Inc., Hutchinson Automotive, Magna International, Sumitomo Chemical Co. Ltd., Toyoda Gosei Co. Ltd., Minth Group, and Henniges Automotive Holdings Inc.

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