Automotive Film Market Drivers, Industry Survey and Business Development Analysis till 2021

Posted on 2020-12-04 by researchinsights in Automotive // 0 Comments

Felton, Calif., USA, Dec. 04, 2020 — /EPR Network/ —

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.

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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.

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.

Product Outlook (Volume in ‘000 Sq. Meters, Revenue, USD Million, 2011 – 2021)

Tinting Films
Paint Protection Films
NVH Film Laminates
Wrap Films

Application Outlook (Volume in ‘000 Sq. Meters, Revenue, USD Million, 2011 – 2021)

Interior
Exterior

Function Outlook (Volume in ‘000 Sq. Meters, Revenue, USD Million, 2011 – 2021)

Protection
NVH

The key players in the automotive film industry are 3M Company, Eastman Chemical Company, LLC, Global Window Films, and The Solar Gard.

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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.

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