Automotive Tinting Film Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Automotive Tinting Film Market


The global Automotive Tinting Film market size is projected to reach US$ 4.67 billion by 2026, from US$ 3.47 billion in 2020, at a CAGR of 5.1% during 2021-2026. Growing automotive industry, especially in the emerging economies of Asia Pacific and Central and South America is anticipated to drive the market. Factors like rising inclination of consumers towards safety from harmful sun rays and protection of expensive interiors of luxury cars are expected to further drive the growth. The demand for passenger vehicles has seen an upsurge in developing economies on account of rapid urbanization, increasing working population, and rising disposable income.

Laws regarding tinting in various countries are expected to a have a negative impact on the growth of the market for tinting films. Some countries such as U.S. have exemptions if drivers or passengers are affected by certain medical conditions such as lupus, sunlight allergy, photosensitivity, and melanoma. The ban in India on window tinting is anticipated to have an adverse effect on market growth.

A few manufacturers are adopting initiatives such as mergers and acquisitions and strategies such as acquiring divisions of other competitors to enhance their product offerings. Key players have been focusing on development of new products, thereby increasing their market penetration.

Technological advancements such as the advent of bio-based polyester films coupled with increasing purchasing power of consumers are expected to fuel product growth. Furthermore, rising awareness among consumers regarding the benefits of automotive tinting films along with the rapid development of automotive industry is anticipated to boost product consumption in the forthcoming years.

The limitations concerning Visible Light Transmission (VLT) are expected to act as a restraint for the global automotive tinting films market. Window tinting in automobiles reduces the VLT through car windows. Low visibility can lead to cases of theft or accident, especially during the night.

Raw materials used to manufacture the product play a significant role in the quality of the window films produced. Major players are continuously working on innovative processes for thin coatings, more effective methods of double and triple glazing for high glare reduction percentage, and UV ray blocking. The global players have a strong distribution network worldwide and offer the most economically priced films to customers.

Market Segmentation, Outlook & Viewpoint: Global Automotive Tinting Film Market

Vehicle Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Passenger Cars
  
Light Commercial Vehicles (LCVs)
  
Heavy Commercial Vehicles (HCVs)

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Windows
  
Windshields

Key Players, Recent Developments & Regional Insights: Global Automotive Tinting Film Market

On the basis of application, the automotive tinting film market has been segmented into windows and windshield. In 2018, windshield held the largest market share and is expected to continue its dominance over the forecast period. Tinting films applied on windshields prevent heat and UV rays from hitting passenger directly. The product reduces glare and provide safety and clear vision to the vehicle driver. Majority of automotive manufactures apply tinting films to avoid glare and to provide better driving experience and protection.

Since LCVs and HCVs were designed majorly for transporting goods from one place to another, these vehicle drivers travel long distances at the same time. Harmful sunrays entering through the windshield can cause discomfort while driving and make it difficult to drive for long. The product helps reduce this effect and makes the driving comfortable.

Windows segment is expected to witness significant growth over the forecast period. These films are used to protect exposure to harmful UV rays through vehicle windows. Growing demand for automotive tinting films to lower the interior temperature of vehicles, protect the interiors against the UV rays, and provide a comfortable driving experience to passengers are some of the factor driving the demand.

Regional Insights

North America held the largest market shar in 2018 on account of increasing demand for LCVs and passenger cars from U.S. The market is also expected to witness growth owing to minimal regulations regarding Visible Light Transmission (VLT) percentage of tinting films.

The economic recovery of North America has contributed to higher consumer spending on passenger cars and light commercial vehicles. These vehicles are increasingly being manufactured using sustainable materials such as polymers and are expected to positively impact the regional product demand over the forecast period.

Asia Pacific is expected to witness fast growth over the forecast period. Rising demand for privacy and security is anticipated to bode well for regional product demand in the forthcoming years. Demand for the product from OEMs is another factor expected to have a positive impact on growth of the market in Asia Pacific.

Automotive Tinting Film Market Share Insights

The market is fragmented in nature with the presence of few key players, such as 3M; Eastman Chemical Company; Madico Inc.; and Saint-Gobain Solar Gard. It also boasts of a few medium and small-sized regional players, such as Hanita Coatings; Johnson Window Films, Inc.; Tintfit Window Films Ltd; and Global Window Films operating across the globe.

The market is highly competitive, and the product manufacturers compete on the basis of product quality and production technology. Established players such as Eastman Chemical Company use high-performance sputter coatings, which enhance solar heat rejection while maintaining superior optical properties.

Key Insights Covered: Global Automotive Tinting Film Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Automotive Tinting Film industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Automotive Tinting Film industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Automotive Tinting Film industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Automotive Tinting Film industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Automotive Tinting Film industry.

Research Methodology: Global Automotive Tinting Film Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other