April 29, 2020
According to the research report titled ‘Global Auto Film Market Research Report 2020’, available with Market Study Report LLC, global auto film market generated USD 1307 million as of 2020 and is predicted to record a y-o-y growth rate of 1.4% during the study period, hence amassing USD 1442.2 million by the year 2026.
For the record, PVB interlayer or a PVB film, as name suggests, is made from polyvinyl butyral resin which is plasticized using a plasticizer. It is a translucent film.
Focus towards protection from UV radiation in automobiles is a prime factor fueling the demand for auto films across the globe. The product blocks harmful UV rays as well as improves the aesthetics of the vehicle. It plays a vital role in reducing heat and diminishing glare in the automobile. Flourishing sales of vehicles owing to rising per capita income and changing consumer lifestyle is aiding the market expansion. Increasing awareness and strict regulatory scenario pertaining to passenger safety are also stimulating the industry outlook.
As per the product type, standard film segment held 59% market share in 2019, primarily due to its widespread use in the automobiles. However, high performance films segment is presumed to expand substantially during the forecast period. Technological advancements in automotive films and development of HUD-compatible films are fueling the growth of the segment.
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Based on the application landscape, passenger cars market segment currently holds 80% share of auto film market and will showcase similar growth in the forthcoming years. Consumer inclination towards personal vehicles owing to evolving lifestyle and increasing disposable income are favoring the market outlook.
Considering the geographical landscape, China accounted for 36% consumption share in global auto film market in 2018. Increasing production of auto glass in China is boosting the market growth. However, Europe auto film industry is poised to amass commendable returns in the ensuing years, primarily due to high concentration of major automakers in the region. Strict government regulations which promote vehicular safety is also complementing the business outlook in Europe.
The major contenders in worldwide auto film market are Wuning Honghui New Material Co. Ltd., ChangChun Group, Zhejiang Decent New Material Co. Ltd., Zhejiang Rehone Plastic Co. Ltd., Kingboard Chemical Holdings, Huakai Plastic (Chongqing) Co. Ltd., Weifang Liyang New Material Co. Ltd., Kuraray, Sekisui Chemical and Eastman.
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