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(Transportation-News.com, October 16, 2021 ) Asia-Pacific is the largest market for automotive films in terms of value, and the market in Asia-Pacificis projected to witness the highest growth during the forecast period. Thisgrowth is attributed to the growing demand for passenger cars and improving standard of living in the region.Advanced manufacturing processes and technological innovations in the field of automotive films have led to the rising demand for automotive films in recent years. The global automotive films market is expected to witness high growth in emerging economies, such as Indonesia, South Korea, and China, owing tothe increasing income of the middle-class population and growing automotive industries in these countries.
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Based on filmtype, the automotive wrap films segmentis projected to witness the highest growth from 2017to 2022. The automotive window filmssegmentwas the largestsegment in 2016, as these films provide protection against harmful radiations which cause skin cancer.These films also enhance privacy.The automotive wrap films segment of the market is expected to witness significant growth in the coming years, owing to the growing demand for mobile advertisement especially on commercial vehicles.Increased R&D activities to develop new and innovative products across a wide range of application areasareexpected to boost the growth of the automotive filmsmarket during the forecast period.
Amongvehicle type,the passenger carssegment is projected to be the fastest-growing segment from 2017 to 2022. In passenger cars, automotive films are generally installed on windows to protect protection against sun rays and to increase the efficiency of vehicles. In addition, these films are installed on front bumpers, hoods, side mirrors, door handle cavities, door edges, rocker panels, and rear fender panels to protect the vehicle from exterior degrading agents such as acid rains and chemicals.Paint protection films are emerging asalternatives to paints as these films are economic and easy to install on vehicles.
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Major playersoperating in the automotive films market, such as 3M Company (U.S.), Eastman Chemical Company (U.S.), Avery Dennison Corporation (U.S.), Lintec Corporation (Japan), andSaint-Gobain Performance Plastics (France) haveadopted several organic and inorganic growth strategiesto strengthen their market position. New product developmentwasthe key strategyadopted by these companies between 2012 and 2017. This strategy helped companies enhancetheir product portfoliosto meet the growing demand of automotive films in various regions.Mergers& acquisitions, investment & expansions, agreements, joint ventures, and partnershipswere among the other strategies adopted by the market players between 2012 and 2017 to strengthen their market position.
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