LONDON--(BUSINESS WIRE)--The global automotive films market size is poised to reach USD 1.43 billion by 2023, according to a new report by Technavio, progressing at a CAGR of 5% during the forecast period.
“Several market participants are offering high-performance and premium automotive films for luxury cars to meet the growing demand from prominent OEMs, particularly, in the emerging economies,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the increasing use of automotive films to improve the efficiency of HVAC. In addition, the development of carbon-ceramic automotive films is anticipated to further boost the automotive films market during the forecast period.
The increasing use of automotive films to improve the efficiency of HVAC is one of the critical factors that will accelerate the market growth during the forecast period. Modern vehicles are increasingly being equipped with automotive window films to reduce sun-glare and decrease heat transfer. This helps in maintaining cabin temperature of vehicles while reducing energy and fuel consumption. Customers are also installing automotive films on sunroofs as it protects the occupants from UV and infrared rays. All these benefits of using automotive films are expected to drive demand in the forthcoming years.
The development of carbon-ceramic automotive films is likely to gain immense popularity during the forecast period. While ceramic and carbon automotive films have their respective advantages, the combination of both has an upper edge in the automotive films market. This has led Rayno Window Films to launch the first carbon-ceramic film in the world through their Phantom Series. This nanotechnology driven film offers nanoparticle size control, nanoformulation, and nano-coating. In addition, the Phantom Series window films offer enhanced color stability while maintaining durability and improving visibility. Furthermore, these films allow consumers to protect and safeguard the interiors of the vehicles. These advantages of carbon-ceramic automotive films are expected to drive the market growth during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- 3M Co.
- Arlon Graphics LLC
- Avery Dennison Corp.
- Compagnie de Saint-Gobain SA
- Eastman Chemical Co.
- HEXIS SA
- Johnson Window Films Inc.
- LINTEC Corp.
- NEXFIL Ltd.
- Rayno Window Film
Market Segmentation by Film Types:
The Automotive Films Market can be broadly categorized into the following:
- Window Films
- Wrap Films
- Paint Protection Films
Key Regions for the Automotive Films Market:
Featuring a breakdown of region wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report.
Related Reports on Consumer Discretionary Market are:
Automotive Screenwash Products Market – Global Automotive Screenwash Products Market by end-users (aftermarket and OEM) and geography (APAC, Europe, MEA, North America, and South America).
Automotive Intelligent Glass Market – Global Automotive Intelligent Glass Market by technology (heated glass, dimmable glass, and others) and geography (APAC, Europe, MEA, North America, and South America).
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