The Automotive Film by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Film, The automotive film market size has grown strongly in recent years. It will grow from $5.6 billion in 2023 to $5.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to increase in demand for passenger vehicles, rising atmospheric temperature, strong economic growth in emerging markets, growth in automobile production and rising demand for commercial vehicles.
The automotive film market size is expected to see strong growth in the next few years. It will grow to $7.69 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increase in demand for passenger vehicles, rising atmospheric temperature, strong economic growth in emerging markets, growth in automobile production and rising demand for commercial vehicles. Major trends in the forecast period include focus on development of tpu paint protection films (ppfs), focus on the growing popularity of high thickness paint protection films (ppfs) to strengthen product portfolio and to cater to the growing consumer demand, focus on providing cost-effective and sustainable paint films, focus on developing new and advanced products such as graphene-enhanced nano-ceramic window films to strengthen market position, focus on mergers and acquiring other competitors from the market, and focus on developing radar-transparent bright films for automobiles.
The increase in demand for passenger vehicles in developing economies is expected to propel the growth of the automotive film market going forward. A vehicle is defined as a passenger vehicle if it is either designed, built, or modified to transport people. In passenger vehicles, automotive films are used to protect the passengers and driver from direct rays of sun, and heat, and to reduce the internal temperature of the car. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), an India-based not-for-profit apex national body of the Indian government, sales of passenger vehicles as a whole increased by 13.2% in the fiscal year 2021 to 3.07 million from 2.71 million in the year 2020. Furthermore, according to the State Council of the People’s Republic of China, in 2021, China’s sales of passenger cars increased 4.4% year over year to 20.15 million units, with the high demand for new energy vehicles (NEVs) continuing to drive the market expansion. Therefore, the increasing demand for passenger vehicles in developing economies is driving the demand for the automotive film market.
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The automotive film market covered in this report is segmented –
1) By Film Type: Automotive Films Window Film: Paint Protection Films (PPF): Wrap Film
2) By Vehicle Type: Passenger: Commercial
3) By Material Type: Dyed, Metalized, Ceramic
4) By Application: Interior: Exterior
Major companies operating in the automotive film sector are focusing on developing radar-transparent bright films for automobiles to strengthen their product portfolio. For instance, in July 2021, AkzoNobel, a Netherlands-based paint and coating manufacturing company, developed a radar-transparent bright film that allows to coating of decorative metallic parts that hide radar sensors without blocking the transmission of signals. The radar-transparent bright film has been developed closely with customers and allows automobile manufacturers to hide sensors behind solid metal, without blocking the signals of safety features such as anti-collision warnings.
The automotive film market report table of contents includes:
1. Executive Summary
2. Automotive Film Market Characteristics
3. Automotive Film Market Trends And Strategies
4. Automotive Film Market – Macro Economic Scenario
5. Global Automotive Film Market Size and Growt
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26. South America Automotive Film Market
27. Brazil Automotive Film Market
28. Middle East Automotive Film Market
29. Africa Automotive Film Market
30. Automotive Film Market Competitive Landscape And Company Profiles
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