15th October 2019 – The global Automotive
Film Market size is expected to value at USD 10.13 billion by 2021. The
market is subject to witness a substantial growth due to the growing demand for
automotive film in exterior and interior applications. The growing utilization
of automotive wraps to protect vehicles with booming automotive industry and
applications of automotive films in transit advertising is expected to drive
growth over the next four years.
Globally, the automotive film market is
predicted to grow at CAGR of 12.0% in forecast period, providing numerous
opportunities for market players to invest in research and development in the
market. The growing automobile sector along with the rising consumer awareness,
shifting focus towards regular maintenance of vehicles, and high-end demand for
paint protection in order to avoid high maintenance costs is anticipated to
fuel the growth of automotive film industry.
Moreover, rapid industrialization,
urbanization and ever-growing population is leading to the rise in standards of
living and increasing disposable income, thus driving the demand for vehicles
across the globe. Other factors such as increasing demand for passenger
vehicles, particularly in developed economies and rise in per capita income are
expected to drive the growth of the industry over the forecast period.
Get
a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/automotive-film-market/request-sample
The market is anticipated to expand with
faster pace due to aggressive marketing strategies adopted by industry players
and large investment in the OEM market. Furthermore, growing reference towards
adoption of paint protection films in exterior part of the vehicle is on the
rise majorly in the developed economies, thus influencing market growth over
the forecast period. Automotive noise, vibration, and harshness (NVH) laminates
is considered as one of the fastest growing segment in the automotive film
market with substantial revenue generation in the last couple of years. Growing
popularity of the automotive noise, vibration, and harshness (NVH) laminates is
credited to the variation in the consumer preferences and requirement in the
enhanced ride quality and comfort.
The automotive noise, vibration and
harshness (NVH) laminates provides noise cancellation and limits harshness,
thus substantially improving overall ride quality. These factors play a major
in the growth of the automotive film industry, in the recent years. Increasing
adoption of various components such as covered release liner, epoxy resin,
polyester papers, scratch resistance casing, shades, metal composites, and UV
inhibitors, thus enhances durability, improves overall shelf life of the
product, and performance of window films recast period, which in turn is
expected to aid market growth for window tints.
Development of co-extrusion technology,
which is widely used during production of bio-based polyester film, is
responsible for limiting use of fossil fuels and offer enhanced carbon
footprint, thus attributing to the expansion of the automotive tinting film
market in recent years. Increasing adoption of the multilayer nanotechnology
during manufacturing of automotive films with the use of polyester, acrylic
glass, and PEN resin is expected to accelerate market demand. Windshield is
vital in vehicle as it provides protection against heat, ultra-violet rays and
pollutants on a large scale. With the adoption of automotive films for the
production of windshield further aids in the reducing heat and glare to offer
better visibility.
The automotive film market is divided by
region as North America, Europe, Asia-Pacific, Latin America and Africa. North
America has shown major growth in recent years owing to the increasing adoption
of latest technologies in automotive sector, growing vehicle production,
increasing demand of lavish& exotic vehicles in terms of production and
sales, and existence of well-established automotive infrastructure.
Asia-Pacific region is predicted to hold major market share in the automotive
film industry with massive growth in forecast period.
Countries such as India, South Korea,
China and Japan are leading the Asia-Pacific market with growing demand in
automotive sector, increasing demand for window films through OEMs and
significant investment by leading industry players considering potential growth
opportunities in the region. The key players in the automotive film industry
are 3M Company, Eastman Chemical Company, LLC, Global Window Films, and The
Solar Gard.
Get
in touch
At Million Insights, we work with the
aim to reach the highest levels of customer satisfaction. Our representatives
strive to understand diverse client requirements and cater to the same with the
most innovative and functional solutions.
For
More Information, Visit @ https://www.millioninsights.com
No comments:
Post a Comment