The growth of the automotive film's market is majorly driven by the increasing demand for mobile advertising and the need to provide protection to passengers from harmful sun radiations. These films also protect the interior of the vehicle from fading and deteriorating and prevent the glass from shattering during accidents.
“The automotive films market is projected to grow at a CAGR of 5.3% from 2017 to 2022, in terms of value.”
The automotive films market is projected to reach USD 6.30 billion by 2022, at a CAGR of 5.3% from 2017 to 2022.Growing demand for mobile advertisement and improving living standards in emerging countries are the prime factors driving the growth of the market. Films are much economic option compared to paints and are easy to install.
In addition, automotive films provide protection against harmful sun rays which cause skin cancer and premature aging. These superior properties of automotive films are expected to be a key driver for the growth of the market in the coming years.
However, stringent regulations for automotive films in various countries can restrain the growth of the automotive films market during the forecast period. Requirement of skilled labor for installation is a key challenge for the growth of the market.
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Based on film type, window films was the largest segment of the market in 2016. These films are installed on passenger cars as well as commercials vehicles as they block up to 80-85% of the rays entering the vehicle which helps in reducing the temperature inside the vehicle and lowers the cost of energy.
It also increases the fuel efficiency by reducing load on the engine. In addition, these films also enhance the safety and security of the vehicle by preventing the glass from shattering during accidents.
Based on vehicle type, the passenger cars segment is projected to lead the market during the forecast period. In passenger cars, films are installed on vulnerable areas such as front bumpers, hoods, side mirrors, door handle cavities, door edges, rocker panels, and rear fender panels to protect the vehicles from stains, scratches, and elements that may damage the appearance of vehicles.
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Growing population, increasing standard of living, and the ability of automotive films to provide protection against UV rays and sun rays, among others, are the factors that have led to the increased demand for automotive films in the Asia-Pacific region.
The market sizes estimated in this study have been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories:
- By Company Type:Tier 1-25%, Tier 2-50%, and Tier 3-25%
- By Designation:C Level-20%, Director Level-30%, and Others-50%
- By Region:North America-20%, Europe-30%, Asia-Pacific-25%, South America-15%, and Middle East & Africa-10%
The report provides profiles of major market players, such as are 3M Company (U.S.), Eastman Chemical Company (U.S.), Avery Dennison Corporation (U.S.), Lintec Corporation (Japan), and Saint-Gobain Performance Plastics (France), and competitive strategies adopted by them to strengthen their position in the market.
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