Automotive Film Market : Future Growth Opportunities 2017 - 2025
Global automotive film market can be segmented on the basis of film type, vehicle type, and geography. Based on film type, the automotive film market can be segmented into automotive window film, automotive wrap films and paint protection films. On the basis of vehicle type, the automotive film market can be segmented as passenger vehicles and commercial vehicles. Geographically, the automotive film market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America.
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Based on film type, the automotive wrap films segment is anticipated to be the fastest-growing segment of the automotive film market during the forecast period from 2017 to 2025 owing to the increased demand for mobile advertisement. Wrap films offers an economical way for product and services advertisement as automotive wrap films are less expensive as compared to paints and thus are used in commercial vehicles on a large scale. Moreover, demand for personalization of cars is rising rapidly owing to the changing lifestyle and consumer spending. This is expected to contribute towards the growth of automotive wrap films market. The automotive window films segment is expected to contribute significant revenue share to the global automotive film market. This type of automotive films are installed on both the passenger and commercial vehicles for protection against harmful ultra violet solar radiations. This not only prevents against the solar radiations but also helps in maintaining the inside temperature of a vehicle, thereby adding to the overall economy of a vehicle. Furthermore, the growing industries such as signs and graphics are expected to support the growth of the automotive film market during the forecast period from 2017 – 2025.
Based on vehicle type, the passenger vehicle segment is anticipated to contribute a major share towards the automotive film market owing to multiple applications of automotive films. Primary, automotive films are used on cars for protection from scratches, strains and damage from climatic conditions so as to maintain the appearance of a vehicle.
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The automotive film market is expected to grow at a significant rate in the developing regions such as Asia Pacific and Middle East and Africa with the developments in the automotive industry. Moreover, the commercial vehicle segment is expected to drive the automotive film market in the developed regions such as North America and Europe. The Asia Pacific and Middle East and Africa are expected to be the most dominating markets in terms of growth rate and revenue for the automotive film market owing to significant increase in consumer spending on automobile purchase and investment in automotive industry. Furthermore, the countries such as India, South Africa and Brazil are expected to contribute a major share towards the automotive film market due to a prominent growth in automotive industry.
Some of the key players involved in the automotive film market includes 3M Company, Avery Dennison Corporation, Akzo Nobel N.V., Eastman Chemical Company, Ergis S.A., Garware Polyester Limited, Hexis S.A., Johnson Window Film Inc., Lintec Corporation, Nexfil Co, Ltd., Zeofilms, Saint-Gobain Performance Plastics Corporation, Madico, Inc., Global Window Films, Kay Premium Marking Films Ltd, Prestige Film Technologies, Renolit Group, Xpel Technologies Corp.
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