Automotive Glass Film Market Recorded Strong Growth in 2019; COVID-19 Pandemic Set to Drop Sales

Valley Cottage, NY -- (SBWire) -- 06/17/2020 --Automotive Glass Film Sales on an upswing; COVID-19 Pandemic Challenges Rapid Growth Due to Halted Automobile Production: FMI

The rise in usage of both new units of passenger cars and commercial vehicles has made ways for sales of automotive glass film. The user-friendly and unique features of automotive glass film have helped in making a good impact on the market. Due to gradual decrease in fossil fuel sources, the sale of electric motor vehicles is gaining traction. This would help the automotive glass film market to grow during the forecast period 2018-2026. The usage of automotive glass film today has pulled in existing vehicle users to discover the new products and utilize the films via aftermarket sales channels.

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Automotive Glass Film: Key Developments & Innovations

Luxury vehicles such as the McClaren and Mercedes S-Class have been an early adopter of novel automotive glass technologies. Instances of these technologies include instantaneously tint car windows at the touch of a button, making the rides safer with privacy glass, and in-vehicle entertainment boosts the driver's and passenger's experience. However, these innovations will soon be a broadly adopted as standard material in serial manufacturing. Some other technological progressions seen in the market are IR cut windshields and solar controlled glass for sidelites and backlites, turning windows into dynamic advertising surfaces, acoustic windshield for cars, heated windshields and water repellent glass for side windows.

COVID-19 Impact Analysis

With the first COVID-19 outbreak in China, companies are considering to establish alternative supply chain. Market players are seeing nations such as India, Thailand, and Vietnam as a good investment opportunity to move their manufacturing units and procurement of raw materials from China. In a post-COVID-19 world, the utility and use of vehicles are likely to change extremely. The market can see increase in the user's digital engagement, during the outbreak. Therefore the internet and connectivity features, particularly in cars are expected to surge.

Regional Insights

The European region together with North America and the Middle East has been the prominent market for the automobile sector. The rise in vehicles sale in the Middle East and Asia and the European Union, together in recent years could prove to be a big platform for the automotive glass film market. China is another prominent market where the number and sales of vehicles in use both are expanding at higher rates. The growth in the number of vehicles in use together with moderate new vehicle sale expansion in the North America could be beneficial for the market to expand. Latin America can overturn the automotive glass film market because of diminishing sales and a moderate rise in the number of vehicles in use in previous years. India has exhibited considerable growth in the sales of vehicles in the past few years and could be a huge market for automotive glass film.

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Competitive Landscape

Market players are engaged in R&D activities and are beginning to develop glass films keeping in mind users' comfort. For instance, 3M has come up with window tint to enhance the appearance and comfort of the vehicle users incorporating features such as increased privacy, reduction of excessive heat, UV protection, glare or security, and a faded interior.