The global Automotive Tinting Film Market size is expected to reach USD 5.72 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.1% during the forecast period.
The major factor driving the demand for automotive
tinting films is the increasingly global automotive production. The market
demand for passenger vehicles has witnessed substantial growth, primarily in
Asia, from countries such as India, China, and Japan.
The demand for passenger vehicles has seen an upsurge
in developing economies on account of rapid urbanization, increasing working
population, and rising disposable income. This is expected to positively impact
the demand for the product over the forecast period. COVID-19 had a negative
impact on the market in 2020. In the event of the pandemic, automotive
production units were temporarily shut down due to the government-imposed
lockdown to prevent the spread of COVID-19 cases.
However, the various regulations regarding the Visible
Light Transmission (VLT) are expected to restrain the market growth during the
forecast period. In addition, the onset of Chinese tinted glasses in the global
market is expected to hamper the demand for tinting films. Various governments
have imposed bans or restrictions on the use of tinting films for automobiles.
This regulation has hindered the market's expansion.
Tinting films help in reducing solar heat gain &
winter heat loss and maintain a sustainable & comfortable environment. In
addition, the use of Ultra Violet-A filtering tinting films reduces the risk of
skin cancer & skin damage. Environmental benefits offered by the product
along with rising safety concerns among consumers are expected to drive growth.
The market is characterized by the presence of a large
number of players and competitive rivalry is quite intense in the market owing
to the presence of several large and small players. The rivalry among
competitors is expected to be high over the next few years owing to the
constant growth of the automotive industry.
Related Press Release@ Automotive Tinting Film Market Report
Automotive Tinting Film Market
Report Highlights
- LCV is expected to be the fastest-growing segment of the global
automotive tinting film market during the forecast period.
- The windshield application segment in North America was estimated
as the largest market in 2021.
- China was estimated as the largest market in Asia-Pacific.
- Major market players are Eastman Chemical Company; 3M; Saint-Gobain
Performance Plastics Corporation; and Madico, Inc.
- In June 2019, Eastman Chemical Company (Eastman Performance Films,
LLC) announced the launch of the automotive window tint series known as
the LLumar IRX series. The company aims to provide a better offering to
customers and create growth opportunities for its dealers with this
launch.
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in San Francisco. The company provides syndicated research reports, customized
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