Report Ocean has recently published a new research report on the global trailer suspension system market. The study, titled “Global Automotive Window Films Market Size study, by Type (Decorative Film, Safety & Security Film, Solar Film, Privacy Film), by Application (Industrial, Residential, Automotive, Marine, Others) and Regional Forecasts 2020-2027,” is prepared after carrying out a detailed analysis of this market, taking the performance of every market segment into consideration, using various research tools.
As per the research study, the worldwide market for automotive window films stood at US$3.7 billion in 2019. The report estimate the CAGR of this market to be more than 5% over the forecast period from 2020 to 2027.
The increasing awareness among consumers pertaining to energy efficient buildings, the rising demand for window films in the end-use industries, and the augmenting need for motor vehicles are driving the global automotive window film market significantly. The rising popularity of window films, due to the benefits offered, such as neutral carbon footprint, energy savings, glare reduction, UV protection, and various other safety benefits, have added to their demand, which is leading to a high market growth rate. However, the high cost incurred in producing window films is likely to hamper the market in the near future.
Over the coming years, the market is projected to be boosted by advancements in technologies, such as precision coating, optical multi-layered membrane design, and elongated sputtering. The increasing production of commercial vehicles is another prominent factor behind the growth of this market. In 2018, globally 25,136,912 units of commercial vehicles were produced as compare to 23,846,003 units in 2017, states the Organization of Motor Vehicle Manufacturers (OMVM).
North America to Retain Leadership on Global Automotive Window Films Market
The research study also offers an in-depth regional analysis of global automotive window films market. The report has considered Asia Pacific, North America, Europe, Latin America, and the Rest of the World as the key regional markets for automotive window films across the world. North America has surfaced as the market leader, thanks to the rising production of commercial vehicles in this region. Researchers expect this region to retain its position as the leading regional market for automotive window films during the forecast period.
Asia Pacific is likely to exhibit the highest growth rate over the forecast period of 2020-2027. Factors, such as the rising disposable income of consumers and advancement in technologies, including precision coating, optical multi-layered membrane design, and elongated sputtering, are projected to create lucrative growth opportunities for the manufacturers of automotive window films in this region, states the research report.
Impact of Covid 19 on Global Automotive Window Films Market
One of the severely impacted markets from the Coronavirus pandemic is the global automotive industry and markets under its umbrella, including the global automotive window films market. With the production of automobiles being stopped completely, the demand for automotive window films also declined to a great extent. However, now as the production has resumed, the market for automotive window films is projected to gain its momentum across the world in the near future.
- North America has surfaced as the market leader, thanks to the rising production of commercial vehicles in this region.
- Asia Pacific is likely to exhibit the highest growth rate over the forecast period.
The global automotive window films market segmented into:
- Decorative Film
- Safety & Security Film
- Solar Film
- Privacy Film
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- 3M Co.
- Eastman Chemical Co.
- Avery Dennison Corp.
- Lintec Corp.
- Saint-Gobain Performance Plastics
- Garware Suncontrol
- Madico, Inc.
- SICAN Co. Ltd.
- Dingxin Films
- Top Colour Film Ltd.
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