Automotive Tinting Film Market Key Players, Industry Share, Growth, And Forecast To 2030

The global automotive tinting film market size was valued at USD 3.65 billion in 2021 and is anticipated to progress at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2030.

The global Automotive Tinting Film Market size is expected to reach USD 5.72 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.1% during the forecast period.

The major factor driving the demand for automotive tinting films is the increasingly global automotive production. The market demand for passenger vehicles has witnessed substantial growth, primarily in Asia, from countries such as India, China, and Japan.

The demand for passenger vehicles has seen an upsurge in developing economies on account of rapid urbanization, increasing working population, and rising disposable income. This is expected to positively impact the demand for the product over the forecast period. COVID-19 had a negative impact on the market in 2020. In the event of the pandemic, automotive production units were temporarily shut down due to the government-imposed lockdown to prevent the spread of COVID-19 cases.

However, the various regulations regarding the Visible Light Transmission (VLT) are expected to restrain the market growth during the forecast period. In addition, the onset of Chinese tinted glasses in the global market is expected to hamper the demand for tinting films. Various governments have imposed bans or restrictions on the use of tinting films for automobiles. This regulation has hindered the market's expansion.

Tinting films help in reducing solar heat gain & winter heat loss and maintain a sustainable & comfortable environment. In addition, the use of Ultra Violet-A filtering tinting films reduces the risk of skin cancer & skin damage. Environmental benefits offered by the product along with rising safety concerns among consumers are expected to drive growth.

The market is characterized by the presence of a large number of players and competitive rivalry is quite intense in the market owing to the presence of several large and small players. The rivalry among competitors is expected to be high over the next few years owing to the constant growth of the automotive industry.

Related Press Release@ Automotive Tinting Film Market Report

Automotive Tinting Film Market Report Highlights

• LCV is expected to be the fastest-growing segment of the global automotive tinting film market during the forecast period.
• The windshield application segment in North America was estimated as the largest market in 2021.
• China was estimated as the largest market in Asia-Pacific.
• Major market players are Eastman Chemical Company; 3M; Saint-Gobain Performance Plastics Corporation; and Madico, Inc.
• In June 2019, Eastman Chemical Company (Eastman Performance Films, LLC) announced the launch of the automotive window tint series known as the LLumar IRX series. The company aims to provide a better offering to customers and create growth opportunities for its dealers with this launch.

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