Rising Popularity of Electric Cars Drives Automotive Films Market Growth
According to our latest market study on "Automotive Films Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Film Type (Window Films/Tints, Wrap Films, and Paint Protection Films) and Application (Passenger Cars, Commercial Vehicles, and Two Wheelers)," the market is expected to reach US$ 9,742.28 million by 2028 from US$ 7,490.18 million in 2022, with an estimated CAGR of 4.5%. The report highlights key factors driving the market growth and prominent players and their key developments in the market.
Automotive films are a thin coating of polymetric film applied on the glass to get the desired look or function in the vehicle. These films improve the external appearance and privacy of cars. In addition, automotive films are used to 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 films provide high durability for various applications; hence, selecting a proper film depends on its durability and intended functionality.
Automotive Films Market Size, by Region, 2022–2028
Automotive Films Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Film Type (Window Films/Tints, Wrap Films, and Paint Protection Films) and Application (Passenger Cars, Commercial Vehicles, and Two Wheelers)
Automotive Films Market Size, Share and Demand By 2028
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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 holding the majority of the automotive films market share.
Impact of COVID-19 Pandemic on Automotive Films Market
The COVID-19 pandemic has drastically altered the status of the chemical & materials sector and negatively impacted the growth of the automotive films market. The imposition of measures to combat the novel coronavirus infection spread has aggravated the situation and negatively impacted the growth of several industrial sectors. The sudden distortion in operational efficiencies and disruptions in the value chains due to the sudden closure of national and international boundaries hindered the automotive industry. The significant decline in the growth of the automotive sector reduced the demand for automotive films in the global market. The global cars market was adversely affected during the COVID-19 pandemic. The COVID-19 outbreak also brought a dramatic drop in the sales of cars and caused fluctuation in the prices of raw materials used for automotive manufacturing. Prices of various plastics and automotive components have increased due to the restraint in supply as a result of the pandemic. However, as the economies are resuming their operations, the demand for automotive films is expected to rise across the world during the forecast period. The sales of electric vehicles increased in 2021 with the growth of the auto market in China, the US, and Europe.
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.
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