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, states Fortune Business Insights in a report, titled “Automotive Tinting Film Market Size, Share & COVID-19 Impact Analysis, By Vehicle (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Application (Windshield, and Windows), and Regional Forecast, 2020-2027” 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.
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.s
Browse Summary of this Research Insights with Detailed TOC:
https://www.fortunebusinessinsights.com/automotive-tinting-films-market-102312
List of the Leading Companies Profiled in the Automotive Tinting Film Market Report are:
- The 3M Company (US)
- Eastman Performance Films, LLC {LLUMAR} (US)
- Johnson Automotive Tinting Film, Inc. (US)
- Toray Plastics (America), Inc. (US)
- Solar Gard (Saint-Gobain Performance Plastics Corporation) (US)
- Madico Inc. (US)
- Avery Dennison Corporation (US)
- Garware Suncontrol (India)
- ZEOfilms (China)
- American Standard Automotive Tinting Film (US)
- Other Players
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.
