The automotive films market is expected to grow from US$ 7,490.18 million in 2022 to US$ 9,742.28 million by 2028; it is estimated to record a CAGR of 4.5% from 2022 to 2028.
Automotive films are a thin coating of polymetric film applied on the glass to get the desired look or function for the vehicle. These films improve external appearance and privacy of a car. In addition, automotive films ensure passenger protection from heat and sunlight in extreme climate conditions. As these films are heat absorbent, it cools the car while in motion. Technically, the automotive films provide high durability for various applications; hence, the selection of a proper film depends on its durability and intended functionality. In recent years, there has been a tremendous adoption of electric vehicles (EVs) across the world. The rising adoption of electric vehicle charging infrastructure in developed and developing countries is influencing the demand for electric cars. They also protect vehicles from harmful UV radiation. Thus, increasing demand for electric cars propel the utilization of automotive films, thereby driving the automotive films market growth.
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Automotive Films Market: Strategic Insights
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Automotive Films Market: Strategic Insights
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A vehicle’s direct exposure to ultraviolet radiation can negatively affect the interior and exterior body of a vehicle. Direct sunlight exposure can lead to vehicle interior damage, often starting with the dashboard. If a car with leather seats is regularly parked without sun protection, the seats’ supple fabric can quickly wrinkle and fade. Also, direct sunlight exposure can damage the paint of a vehicle. Especially if the vehicle is dark-colored, the shade starts to fade and lose its luster due to oxidation. However, the awareness regarding these negative impacts of UV radiation is increasing among the population. Automotive films such as window tinting and paint protection coating block solar ultraviolet radiations and provide comfort by reducing glare from the sun. With the increasing awareness about the negative impacts of UV radiation on a vehicle, the demand for automotive films is increasing. Thus, manufacturers are developing UV protection automotive films for commercial and passenger vehicles. Recently, the companies have been focusing on developing window tinting films that reject up to 93% of glare from blinding sunlight. Thus, awareness about the harmful effect of UV rays and the development of various UV-resistant protective films are expected to drive the growth of the automotive films market during the forecast period.
Market Insights
Rising Demand for Vehicles and Automobiles with Technological Advancements to Drive Automotive Films Market Growth in Future
The automotive film market is growing with an upward trend, and manufacturers are making significant investments in research & development, partnerships, technological development, and collaborations to launch innovative products to tap into emerging market opportunities. Market players are focusing on providing innovative products in response to an ever-increasing demand for automotive glasses. In November 2022, Fedrigoni S.P.A., an Italy-based manufacturer, launched Ri-Jet C50 Ultimate Slide & Tack, an innovative, extremely durable (up to 12 years), and conformable film for large format digital printing, ideal for wrapping cars and vehicle fleets, due to its adaptability on irregular surfaces such as bumpers, mirrors, and van corrugations. The company hopes to gain a strong hold on the market with this launch. In April 2021, 3M announced the launch of its newest long-lasting protective finish, “3M Ceramic Coating” for plastic trim, metal, automotive glass, wheels, and paint. This product innovation gave the company an edge over its competitors by providing faster wrapping solutions. Such innovative and advanced product launches are expected to drive the automotive films market growth in the coming years.
Application Insights
Based on application, the automotive films market is segmented into passenger cars, commercial vehicles, and two wheelers. In 2022, the passenger cars segment dominated the market. In passenger cars, films are installed on vulnerable areas such as bumpers, rocker panels, hoods, side mirrors, door handle cavities, door edges, and near fender panels to protect the vehicles from stains, scratches, and elements that may damage the appearance of vehicles. These factors are expected to drive the market growth for the segment during the forecast period.
Compagnie de Saint Gobain SA, 3M Co, Luxshield GmbH, Mister Lacky, PR-Folia, Eastman Chemical Co, Ergis SA, Hexis SAS, Avery Dennison Corp, and SSA Europe GmbH are among the key players operating in the automotive films market. The leading players adopt strategies such as mergers and acquisitions and product launches to expand their geographic presence and consumer base.
Report Spotlights
- Progressive trends in the automotive films industry to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the global automotive films market from 2020 to 2028
- Estimation of the demand for automotive films across various industries
- Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the automotive films industry
- Recent developments to understand the competitive market scenario and demand for automotive films
- Market trends and outlook, and factors governing the growth of the automotive films market
- Understanding the strategies that underpin commercial interest with regard to the market growth, aiding in the decision-making process
- Automotive films market size at various nodes of market
- Detailed overview and segmentation of the market, as well as its industry dynamics
- Automotive films market size in various regions with promising growth opportunities
Automotive Films Market Regional Insights
The regional trends and factors influencing the Automotive Films Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Films Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Automotive Films Market
Automotive Films Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 7.49 Billion |
| Market Size by 2028 | US$ 9.74 Billion |
| Global CAGR (2022 - 2028) | 4.5% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Film Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Automotive Films Market Players Density: Understanding Its Impact on Business Dynamics
The Automotive Films Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automotive Films Market are:
- Compagnie de Saint Gobain SA
- 3M Co
- Luxshield GmbH
- Mister Lacky
- PR-Folia
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Automotive Films Market top key players overview
The "Automotive Films Market Forecast to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the automotive films market trend analysis. The report aims to provide an overview of the market with detailed segmentation. The automotive films market is segmented on the basis of film type, application, and geography. Based on film type, the market is segmented into window films/tints, wrap films, and paint protection films. By application, the automotive films market is segmented into passenger cars, commercial vehicles, and two wheelers. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2022, Asia Pacific held the largest share of the global automotive films market. The growth of the market in Asia Pacific is attributed to the growing automotive industry in the region. Moreover, the high disposable income of people in the region is surging the demand for commercial and passenger vehicles. Also, increasing investments by leading automotive OEMs and rising EV manufacturing capabilities in Asia Pacific are propelling the demand for conventional and electric vehicles in the region, bolstering the need for automotive films.
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Film Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Netherlands, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
There is an increase in the number of installations of automotive films as they provide protection against harmful sun radiation and lower the cost of energy. Moreover, the rise in demand for products that enhance and preserve the vehicle's appearance is expected to accelerate the automotive films market growth. Furthermore, automotive wrap films are customizable, so they can be used for advertising as they are cheaper than other forms of advertisements.
During the forecast period, paint protection films is expected to be the fastest-growing segment. The highly specialized film protects the vehicle's paint from scratches, dents, and damage caused by road debris and rocks, as well as from environmental elements, through its force-dissipation properties. These factors are expected to boost the growth of the paint protection films segment in the automotive films market demand during the forecast period.
In 2022, the passenger cars segment held the largest market share. In passenger cars, films are installed on vulnerable areas such as bumpers, rocker panels, hoods, side mirrors, door handle cavities, door edges, and near fender panels to protect the vehicles from stains, scratches, and elements that may damage the appearance of vehicles. These factors led to the dominance of the passenger cars segment in 2022.
In 2022, the wrap films segment held the largest market share. Wrap films give the vehicle a fresh look and are available in various colors, textures, and finishes. These wrap films are primarily used to enhance or change the appearance of a vehicle and to safeguard the original paint from dust, UV rays, and corrosion. These factors led to the dominance of the wrap films segment in 2022.
The major players operating in the automotive films market are Compagnie de Saint Gobain SA, 3M Co, Luxshield GmbH, Mister Lacky, PR-Folia, Eastman Chemical Co, Ergis SA, Hexis SAS, Avery Dennison Corp, and SSA Europe GmbH.
In 2022, Asia Pacific accounted for the largest share of the global automotive films market. The growth of the automotive films market in the Asia Pacific is attributed to the growing automotive industry in the region. Moreover, the high disposable income of people in the region is surging the demand for commercial and passenger vehicles. Also, increasing investments by leading automotive OEMs and rising EV manufacturing capabilities in Asia-Pacific have boosted the demand for conventional and electric vehicles in the region, augmenting the demand for automotive films.
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The List of Companies - Automotive Films Market
- Compagnie de Saint Gobain SA
- 3M Co
- Luxshield GmbH
- Mister Lacky
- PR-Folia
- Eastman Chemical Co
- Ergis SA
- Hexis SAS
- Avery Dennison Corp
- SSA Europe GmbH
- Profilm Advanced Materials Ltd
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