Market Research Future Published a Cooked Research “Global Automotive Films Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023.
Avery Dennison Corporation. (U.S.), HEXIS S.A. (France), 3M (U.S.), Eastman Chemical Company (U.S.), Arlon Graphics, LLC. (U.S.), MATERIAL SCIENCES CORPORATION (U.S.), DuPont (U.S.), Garware Suncontrol (India), NEXFIL (U.S.), Johnson Window Films, Inc. (U.S.), Saint-Gobain Performance Plastics (France), Madico, Inc. (U.S.) and Kay Premium Marking Films LTD (UK) among others are some of the prominent players at the forefront of competition in the Global Automotive FilmsMarket and are profiled in MRFR Analysis.
Industry/ Innovation/ Related News:
July 2017 – Avery Dennison Graphics Solution North America launched a product in automotive films such as new PVC free film MPI 1405. MPI 1405 is new ultra-comfortable film with a long term removable (LTR) adhesives and possess excellent print quality suitable for car wraps along with indoor and outdoor architectural applications. This would increase the company’s market share by tapping new customer requirement. This product launch also delivering market leading solutions that would help the company to push their product portfolio to sustainability goal by 2025.
October 2017–Avery Dennison Corporation, invested in Gauzy, an Israeli based manufacturer of liquid crystal based material films and solutions for various end markets such as automotive, construction and home appliances. The products are used commercially for window film and in under evaluation for automotive applications. Through this expansion and continuing development of Gauzy film technology, company will significantly increase distribution network.
May 2017 – Eastman Chemical Company is increasing performance films operations in Virginia. The capacity expansion of paint protection film and window films would help the growth of LLumar and Suntek brands and cater the new opportunities in automotive and architectural applications.
April 2017– LINTEC launched new automotive film known as GY-3IR which has darkest color available with high class tint and texture quality. With increasing demand of color variations ranging from dyed types to clear types, automotive manufactures are incorporating high class designs, diverse functionality and superior workability in automotive window glass. This would help the car driver to maintain a clear view in sunlight and reduce the UV radiation entering the car. Thus, development of innovative and reliable automotive film in automotive industry would provide a new boost to film developers.
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Automotive Films Market – Market Overview
Automotive films are provided for multi-purpose such as protection from solar and thermal radiations and mechanical damage. They possess superior properties such as excellent UV resistance, impact resistance and color protection from external unit. The primary reason for the growth of automotive films market are increasing privacy and stringent government safety rules. Globally passenger cars sold are around 77 million units in 2016. This would inherently drive the growth of automotive films market in coming years owing to growing population which in turn driving demand for innovative and sustainable automotive vehicle in the market.
Automotive films are available in various types such as window films, wrap films and paint protection films among others. Window films market is holding largest market share due to its properties such as UV resistance which can block direct sunlight up to 80-85% and helps maintaining temperature inside the vehicle. Moreover, rise in consumer spending and changing lifestyle are expected to segment the market growth. Automotive wraps films are projected to grow at faster rate in automotive film market. Wraps films are used economical for mobile advertisement and cost less compared to paints. Thus, automotive films are extensively used on commercial vehicles which contribute towards growth of automotive films market. In addition, rising consumer awareness regarding the maintenance aspect of vehicles is predicted to drive the growth of the market.
The passenger car segment is projected to witness highest growth in global automotive film market. Increasing demand of personalised cars is rapidly driving the automotive films market. Rapid urbanization and growing number of working population have increased the demand for personal vehicles, which in turn, have increased the production & sales of automotive vehicles. Thus, demand of automotive films to protect exterior parts such as bumper, fenders and hood as well as provideaesthetics are boosting the market growth.
Asia Pacific region is leading market in automotive film market owing to rising production of passenger vehicle along with increasing consumer preference for luxurious car segment. Changing trend of lightweight components with protective film in vehicle parts in order to improve fuel efficiency in various regions is expected to complement market growth. China witnessed strong growth owing to large production base and economic labor. Moreover, countries like Japan, India and South Korea are leading countries in automotive industries and manufacturer are relocating base owing to lenient government regulations and easy availability of resources. North America is second largest automotive market followed by Europe. Countries of North America such as U.S, Mexico, and Canada are among the major contributors in the regional market growth and are estimated to see a significant growth over the forecast period. In addition, Germany and Spain have emerged as the prominent consumer market on account of rising automotive production. Strong consolidation and favourable economic conditions are likely to boost the product demand in regional market.
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Automotive Films Market – Competitive Analysis
Automotive films market is highly fragmented market with tier 1 and tier 2 players dominating the overall market. The major strategies adopted by key players are expansion, collaborations or partnerships and product launch. In order to meet regulations, set by various bodies of respective regions, manufacturer is entering into agreement with raw material supplier to maintain profit across the value chain. Auto manufacturers are focusing more on performance of vehicle by lowering of greenhouse gases with significant reduction in weight of vehicle. In highly competitive market, companies are investing more in innovations and brand building thereby, fostering the strong relationship with customer. In many countries regulations are strict towards film installation and may restrict the installation for the purpose of road safety, crimes and various security issues. This may restrict the manufactures and hamper the overall market growth. On other hand, major players are carrying out research & development activities to improve the properties of these automotive film.
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