Market Size of Automotive Films Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 5.00 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | Asia-Pacific |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
Automotive Films Market Analysis
The automotive films market is projected to register a CAGR of over 5% during the forecast period.
In 2020, COVID-19 had a detrimental effect on the market.Considering the pandemic scenario, the automotive manufacturing units were on a temporary halt during the government-imposed lockdown to curb the spread of COVID-19 cases. However, increased automotive production after the pandemic propelled the demand for automotive films.
- In the short term, the market is likely to grow because of rising concerns about safety, security, and privacy, as well as rising demand for automotive films in Asia-Pacific and Europe.
- On the flip side, the occurrence of technical issues with dyed and metalized films, which result in low heat reduction and GPS transmission interference, is likely to hinder the market's growth.
- The market is expected to have a chance in the future because of the growing demand for electric vehicles and new laws in places like the United States that require the use of automotive films.
- Asia-Pacific dominated the global market share. With significant automotive production and sales in countries such as China, India, Indonesia, Thailand, and Japan, the usage of automotive films is increasing throughout the region.
Automotive Films Industry Segmentation
The automotive film is a thin laminate that is used on the inside and outside of a car. It gives the driver and passengers more security and privacy. Automotive can be made up of different materials, including polycarbonate, polyester, polystyrene, polyvinyl chloride, and others. These films improve the overall appearance of the vehicle and can also be used to block solar ultraviolet radiation and provide comfort by reducing glare from the sun. The automotive film market is segmented by film type, vehicle type, and geography. By film type, the market is segmented into window films, automotive paint protection films, and automotive wrapping films. By vehicle type, the market is segmented into passenger vehicles and commercial vehicles. The report also covers the market size and forecasts for the automotive film market in 15 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of revenue (USD million).
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Automotive Wrapping Films |
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Automotive Films Market Size Summary
The automotive films market is anticipated to experience steady growth over the forecast period, driven by increasing concerns regarding safety, security, and privacy, particularly in regions like Asia-Pacific and Europe. The market's recovery post-COVID-19, which had initially caused disruptions in automotive production, has been bolstered by the rising demand for automotive films. These films are increasingly utilized in passenger vehicles to enhance protection against harmful UV and infrared rays, improve privacy, and reduce the workload on air conditioning systems. Despite the positive outlook, challenges such as technical issues with dyed and metalized films, which can affect heat reduction and GPS transmission, may pose obstacles to market expansion.
The Asia-Pacific region holds a dominant position in the global automotive films market, with significant contributions from countries like China, India, Indonesia, Thailand, and Japan. The region's robust automotive production and sales growth, coupled with the rising demand for electric vehicles, are key factors driving market expansion. In India, for instance, the automotive films market is expected to benefit from government initiatives aimed at establishing the country as a global manufacturing hub, alongside favorable policies like reduced GST rates on electric vehicles. The market is characterized by a partially consolidated landscape, with major players such as Saint-Gobain, TORAY INDUSTRIES INC., 3M, Eastman Chemical Company, and Johnson Window Films Inc. actively pursuing strategic acquisitions and innovations to enhance their market presence.
Automotive Films Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Concern for Safety, Security, and Privacy
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1.1.2 Significant Demand for Automotive Films in Asia-Pacific and Europe
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1.2 Restraints
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1.2.1 Technical Issues with Dyed and Metallized Automotive Window Films
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Film Type
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2.1.1 Window Films/Tints
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2.1.1.1 Dyed Window Tint
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2.1.1.2 Metallized Window Tint
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2.1.1.3 Ceramic Window Tint
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2.1.1.4 Carbon Window Tint
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2.1.1.5 Other Window Films/ Tints (Hybrid, Crystalline, etc.)
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2.1.2 Automotive Paint Protection Films
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2.1.3 Automotive Wrapping Films
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2.2 Vehicle Type
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2.2.1 Passenger Vehicles
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2.2.2 Commercial Vehicles
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East and Africa
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Automotive Films Market Size FAQs
What is the current Automotive Films Market size?
The Automotive Films Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Automotive Films Market?
Saint-Gobain, Eastman Chemical Company, 3M, TORAY INDUSTRIES, INC. and Johnson Window Films, Inc. are the major companies operating in the Automotive Films Market.