Automotive Films Market worth $9.7 billion by 2028 Globally, at a CAGR of 5.7%, says MarketsandMarkets™
Chicago, Oct. 20, 2023 (GLOBE NEWSWIRE) — The Automotive Films Market is projected to grow from USD 7.4 billion in 2023 and is projected to reach USD 9.7 billion by 2028 at a CAGR of 5.7% between 2023 and 2028 period, as per the recent study by MarketsandMarkets™. The combination of regulatory frameworks, growing applications, increasing market trends, consumer preferences, and technological advancements are driving the automotive films market.
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List of Key Players in Automotive films market:
- 3M (US), Saint-Gobain (France)
- Saint-Gobain (France)
- Eastman Chemical Company (US)
- Avery Dennison (US)
- LINTEC Corporation (Japan)
- Ergis S.A. (Poland)
- Toray industries, Inc. (Japan)
- Johnson Window Films (US)
- Hexis S.A. (France)
- Nexfil Co., Ltd. (South Korea)
- XPEL, Inc. (US)
Drivers, Opportunities and Challenges in Automotive films market:
- Drivers: Technological advancements in automotive films market
- Restraint: Installation complexity of automotive films
- Opportunity: Increasing demand of automotive wrap films for advertising
- Challenge: Government regulations on automotive films
Key Findings of the Study:
- Automotive window film is projected to be the largest films type of automotive films, in terms of value, during the forecast period.
- Exterior is projected to be the largest application of automotive films, in terms of value.
- North America captures the largest share in the automotive films market during the forecast period, in terms of value.
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Based on films type, the automotive market has been segmented into automotive wrap films, automotive window films and paint protection films. Automotive window films have the largest market for automotive films. Automotive window films are designed to block a significant amount of heat and ultraviolet (UV) rays from entering the vehicle’s interior. There are several types of automotive window films available in the market including dyed films, metalized films, hybrid films, and ceramic films.
Based on application, the automotive films market has been segmented into interior and exterior. Automotive films are applied to the interior parts of the vehicle including automotive dials, control panels, and others whereas they are applied to the exterior parts of the vehicle such as doors, roof panels, hoods, and others. It has the largest market share for exterior applications due ease of installation especially in tricky installation areas, has better solar specs, protects paint and exterior surfaces, and has greater design flexibility than interior films.
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Based on vehicle type, the automotive films market has been segmented into passenger vehicles and commercial vehicles. Passenger vehicles include cars, SUVs, and other vehicles designed for personal use. Automotive films for passenger vehicles are designed to provide a range of benefits, including heat rejection, UV protection, glare reduction, and privacy. Commercial vehicles include trucks, buses, and other vehicles designed for commercial use.
Asia Pacific is the second largest market for automotive films. Asia Pacific has stringent regulations when it comes to vehicle safety and environmental standards. These regulations often require vehicles to have window films that meet specific performance criteria, such as UV protection, heat reduction, and glare reduction. Due to climate variation, consumer awareness, aesthetic preferences, and safety concerns, there is increase in demand for automotive films in the region.
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CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: [email protected]
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