Automotive Films Market Set Explosive Growth to 2025
Automotive Films are used for heat and glare reduction, thermal insulation and UV filtration purposes. They are applied on automobile windows and help reduce energy costs arising from air conditioning. Moreover, UV protection and thermal insulation protects vehicle interiors and passengers from exposure to harmful radiation. Also, films provide mechanical protection to prevent shattering of windows during accidents. Wrap films are used for advertising on vehicles.
The increased safety features of automotive films are the major market drivers. The major challenges are regulations in countries regarding tinted glass. The regulations are a result of concerns related to passenger safety in public vehicles and national security.
Request Sample Copy of Automotive Films Market: https://www.coherentmarketinsights.com/insight/request-sample/677
Automotive Films Market Taxonomy
On basis of Film type
- Window Film
- Dyed
- Metallized
- Hybrid
- Ceramic
- Wrap Film
- Paint Protection Film
- Others
On basis of Vehicle type
- Passenger Cars Light
- Commercial Vehicles
- Heavy Commercial Vehicles
- Others
Window films hold the largest market share among all segments. The application of window films increases sun protection and also makes the vehicle aesthetically appealing. It does not block radio waves and is cost effective. Wrap Films can be used on cars and commercial vehicles for advertising. They can be printed on and are customizable based on size and shape.
Window Films and Passenger cars hold the largest market share in their respective segments. Wrap films are the fastest-growing segment due to demand for advertising space.
Automotive Films Market Outlook
Asia Pacific is the largest market for automotive films. This is due to burgeoning growth in the automotive industry in India, China and Indonesia. Combined car sales in these countries topped 32 million in 2015. The tall number is attributed to rising population and high disposable incomes among the emerging middle class in these countries. In India, strict laws on automotive films are due to concerns regarding women safety in public vehicles such as taxis and buses. The regulations are expected to hinder market growth in India.
North America and Europe are the next largest markets. The demand for SUVs and pickup trucks has risen in U.S. and Canada. A high preference for personal transportation in North America is expected to drive the automobile sector in the region. Whereas, Europe despite having a rich population is comparatively less inclined towards personal transportation due to a well-developed public transport infrastructure.
Latin American markets have witnessed a slowdown in the automobile industry. Political turmoil in Brazil, Argentina, Colombia and Venezuela has contributed to this slowdown. The new Trump administration’s decision to renegotiate NAFTA has threatened the sales of Mexican made cars in the U.S. According to the Mexican Statistical Institute, automotive industry accounted for 3.4% of Mexico’s GDP in 2015. The number is expected to fall in the forecast period if NAFTA renegotiation goes ahead as planned.
In Middle East, the GCC’s initiative to diversify industrial portfolios include the automotive industry, but growth is sedate so far. Though results are expected over the forecast period. Moreover, consumption in the wrap films segment is expected to increase with the upcoming FIFA World Cup 2022 in Qatar. The arrival of millions of fans will create a demand for advertising space.
Africa led by South Africa and Nigeria is witnessing growth across all manufacturing sectors including automotive. South Africa is a major automotive manufacturing country and increased investment is a result of cheap labor, high technical expertise in the region and proximity to growing East African countries.
To check the Trending Report of Automotive Films Market: https://www.coherentmarketinsights.com/ongoing-insight/automotive-films-market-677
In March 2017, the 3M Company announced to acquire Scott Safety from Johnson Controls International Inc. for US$ 2 Bn. The deal will allow 3M to move into safety division and may lead to product innovation in automobile window films.
Major players in the automobile films market are 3M Company, Eastman Chemical Company, Avery Dennison Corporation, Lintec Corporation, and Saint-Gobain Performance Plastics.