The global automotive glass film market is set to be valued at over US$ 4,677.5 million in 2023. Over the forecast period, global automotive glass film demand is anticipated to rise at 4.6% CAGR. By 2033, the worldwide automotive glass film market value is projected to reach US$ 7,315.7 million.
Demand is expected to remain high for ceramic and metalized films due to their ability to provide superior protection against heat and UV rays. As per the latest report, ceramic films segment is set to hold 37% market share while metalized films demand is forecast to rise at 5.3% CAGR.
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The global automotive glass film market is set to witness a positive growth trajectory. This is attributable to booming automotive industry, advancements in film technology, and rising need for improving safety, energy efficiency, aesthetics, and comfort of vehicles.
Automotive glass film is popular among consumers owing to its vital role in maintaining a comfortable interior environment within vehicles. Its ability to efficiently deflect solar heat is expected to fuel demand during the forecast period.
Increasing production and sales of vehicles globally will likely bolster sales of automotive glass films during the forecast period. Subsequently, rising need for improving energy efficiency and safety of cars is anticipated to drive global demand for automotive glass films.
Automotive glass films effectively reduce glare and heat inside vehicles. By doing this, they contribute to overall energy efficiency and significantly improve safety of vehicles.
Introduction of specialized products tailored for specific purposes is a key trend in the market for vehicle films. Key companies in the market are launching new products designed for particular vehicle types or intended applications.
There are also factors that are expected to boost the target market. These include rising popularity of electric vehicles, growing demand for luxury cars, surging customization trends, and increasing awareness about the harmful effects of UV rays.
“The expanding automotive industry in developed and developing countries is expected to drive demand for automotive glass films over the forecast period. Besides this, growing usage of custom-built products will likely fuel the growth of the automotive glass film industry.” - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Read more: https://www.futuremarketinsights.com/reports/automotive-glass-film-market
Who is Winning?
3M, Eastman Chemical Company, Lintec Corporation, and Avery Dennison Corporation are few of the leading automotive glass film manufacturers profiled in the report. Top companies are concentrating on launching new films to meet end user demand. They are also implementing strategies like mergers, partnerships, agreements, and acquisitions to expand their footprint. For instance,
- In October 2021, Matrix Films was acquired by Eastman to strengthen its presence.
- In January 2021, Eastman Chemical Company unveiled its new Saflex Advanced Interlayers for automotive laminated glass.
