The global automotive tinting film market size is expected to reach USD 1,679.2 million by 2027, exhibiting a CAGR of 3.8% during the forecast period. The growing inclination towards factory tint to enrich vehicle’s style and features can be a vital factor enabling the growth of the market during the forecast period, the market size stood at USD 1,450.1 million in 2019
The whole world is battling with the newly discovered coronavirus. The government authorities of several countries have initiated lockdown to prevent the spread of this deadly virus. Such plans have caused instabilities in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
Automotive tinting film is a thin, transparent film applied to the inside of car windows. It’s used for various purposes, including:
- UV Protection: It blocks harmful ultraviolet (UV) rays from the sun, which can protect the vehicle’s interior from fading and cracking, as well as reduce the risk of skin cancer for occupants.
- Heat Reduction: Tinting can significantly reduce the amount of heat that enters the car, making the interior more comfortable and reducing the need for air conditioning.
- Glare Reduction: It reduces glare from the sun and headlights, improving visibility and driving safety.
- Privacy and Security: Tinted windows offer more privacy by making it harder to see inside the car. They can also help hold shattered glass together in case of an accident, providing an added layer of security.
- Aesthetic Appeal: Many people choose window tinting for its stylish look, enhancing the appearance of their vehicle.
There are different types of automotive tinting films, including:
- Dyed Window Tint: The most affordable option, it offers privacy and glare reduction but doesn’t provide as much heat rejection as other types.
- Metalized Window Tint: Contains tiny metallic particles that reflect heat and UV rays, providing better heat rejection but can interfere with cell phone and GPS signals.
- Hybrid Tinting Film: Combines dyed and metalized film for good heat and UV protection without as much signal interference.
- Ceramic Tinting Film: The highest quality, offering excellent heat rejection, UV protection, and clarity without signal interference, but it is also the most expensive.
When choosing an automotive tinting film, it’s important to consider the local laws and regulations regarding the allowable darkness of window tinting, as these can vary by location.
Market Driver:
Surging Carbon Emissions to Spur Business Opportunities
The rising atmospheric temperatures in several nations have accelerated the demand for Automotive Tinting Film. Similarly, the imposition of emission regulations by several governments will contribute tremendously to the growth of the market in the foreseeable future. The new regulations regarding the tinting or darkness of the films to curb unwanted criminal activities will create lucrative opportunities for the market in the forthcoming years. For instance, in New Jersey, US, no tint is allowed on the windshield. Likewise, in India, the use of black tinted film is completely banned however consumers are allowed to use tinted glass with at least 70% visibility in the windshield and rear window. Also, the rising consumer proclivity on tint films to reduce vehicle temperature will foster healthy growth of the market during the forecast period.
Market Restraint
Drastic Fall in Car Sales to Thwart Market Development During Coronavirus
The disruption in automotive production and sales during COVID-19 has negatively impacted the automobile industry. Besides, the lockdown restrictions imposed by the government have led to a shortage of manpower, which, in turn, will retard the growth of the market. For instance, UK car sales were down by 89% in May 2020. The UK automotive industry witnessed a major drop in production and sales as compared to 2019. The coronavirus outbreak is predicted to contract the market by over 10% in 2020, which, will be alleviated by mid-2021. Europe and North America are expected to experience heavy losses in 2020. The analysts at Fortune Business Insights forecast, the global automotive tinting film sales will drop by 15 or 20% due to the economic recession.
Regional Analysis:
High Adoption of Tinting Films to Boost Growth in Asia Pacific
The market in Asia Pacific generated a revenue of USD 636.22 million in 2019 and is expected to rise tremendously during the forecast period. The growth in the region is attributed to the developing on-road vehicle fleets in countries in China, India, and Thailand. The market in North America is expected to witness a high growth rate during the forecast period. Europe is expected to experience a healthy CAGR owing to the rising demand from countries such as Germany, Italy, France, UK, and Spain. Brazil & Mexico is predicted to observe a low growth rate owing to the political and economic instability in countries such as developing countries of the region such as Argentina, Chile, Venezuela, Colombia, and others.
Information Source:
https://www.fortunebusinessinsights.com/automotive-tinting-films-market-102312
