New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Tinting Film Global Market Report 2023" - https://www.reportlinker.com/p06325414/?utm_source=GNW
, Akzo Nobel N.V, Kay Premium Marking Films Ltd., Tintfit Windows Films Ltd., Toray Plastic, Armolan Window Films, and Huper Optik.
The global automotive tinting film market grew from $3.65 billion in 2022 to $3.88 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The automotive tinting film market is expected to grow to $4.92 billion in 2027 at a CAGR of 6.2%.
The automotive tinting film market consists of sales of crystalline glass tints, ceramic tints and carbon tints.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The automotive tinting film refers to thin laminate films applied to vehicles to reduce the heat and radiation from the sun that enters the vehicle’s interior, which helps in controlling the temperature inside the vehicle. These tinting films can differ from one location to another due to a specific region’s climate or heat level.
North America was the largest region in the automotive tinting film market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the automotive tinting film market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of automotive tinting film are window film, paint protection film, wrap film and other types.The window film refers to a unique film or coating applied to windows on an automobile to prevent a specific spectrum or amount of sunlight from passing through the glass.
Window tint can also reduce sun glare and keep harmful UV rays away from reaching the car occupant. The various types of materials used in automotive tinting film include dyed, metalized, ceramic, and other materials that are suitable for passenger cars, LCV, and HCV.
The soaring atmospheric temperature is driving the growth of the automotive tinting film market.Human activities such as burning fossil fuels and deforestation have significantly increased the concentration of greenhouse gases in the Earth’s atmosphere, thus contributing to global warming.
Due to such an increase in global warming and temperature across the globe, customers are increasing spending on automotive tint films as protection layers to the vehicle that block harmful UV rays, avoid paints from getting fade, and offer a significantly more relaxed and comfortable journey. For instance, In October 2021, according to World Meteorological Organization, The State of the Global Climate 2021 report states that in 2021, the global surface temperature (GMST) was 1.11 ± 0.13 °C higher than the pre-industrial baseline period (1850-1900), when fossil-fuel burning had yet to change the climate. Therefore, the increasing atmospheric temperature is expected to boost demand for automotive tinting films during the forecast period.
Technological advancement is a key trend gaining popularity in the automotive tinting film market.Major companies operating in the automotive tinting film market are focused on providing technologically-advanced solutions to strengthen their market position.
These companies are implementing enhanced automotive tinting film technologies into their products, such as nano tinting technology, electro-chromatic technology, liquid-crystal technologies, multilayered sputtering, photovoltaic (PV) technology, and others, to block harmful UV rays and make vehicles significantly more relaxed and more comfortable from the inside.For Instance, In October 2021, Eastman Performance Films, a US-based producer and distributor of high-performance window tint and paint protection film for use in automobiles, launched SunTek Evolve window-tint.
SunTek Evolve is made to reject up to 94% of heat-inducing infrared rays and block 99% of harmful UV rays that cause cancer, allowing for cooler cabins and less interior fading. In order to help drivers achieve the desired look or upgrade already-tinted glass, Evolve also provides a wide range of tint options.
In October 2021, Eastman Chemical Company, a USA-based company primarily operating in chemical industry acquired PremiumShield for an undisclosed amount.With the acquisition, Eastman’s will step ahead as the leading innovator and service partner for paint protection and window film professional installers.
PremiumShield is a US-based automotive paint protection film company.
The countries covered in the automotive tinting film market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive tinting film market research report is one of a series of new reports that provides automotive tinting film market statistics, including automotive tinting film industry global market size, regional shares, competitors with an automotive tinting film market share, detailed automotive tinting film market segments, market trends and opportunities, and any further data you may need to thrive in the automotive tinting film industry. This automotive tinting film market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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