Pune, India -- (SBWIRE) -- 03/23/2018 -- The Global Automotive Film Market is classified into five regions based on geography, namely–North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Among them, North America accounts for around 33% market share as of 2016 and is estimated to grow with the moderate CAGR over the forecast period, 2017 to 2023. North American market is categorized into U.S, Mexico, and Canada. Comparatively, the U.S. and Mexico hold the major share market on account of increasing registration of passenger cars and light commercial vehicles. In the U.S, the market growth is driven by the high utilization of Automotive Films in luxury cars which is majorly afforded by upper middle and high class consumers. Mexico offers a strong base of engineers and technicians at disposal for the automobile industry as well as the gap between skilled and unskilled workers in Mexico has decreased in recent years, which in turn is estimated to fuel the growth of the market over the forecast period.

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Latin American countries such as Brazil, Argentina, Venezuela, and Colombia are the major contributors in the regional market due to high per capita disposable income and increasing investments from international investors. Moreover, Brazilian local resources and favorable government norms are predicted to propel the growth of the market. Europe is expected to witness a healthy growth in the demand of Automotive Film Market. European market is categorized into Germany, Italy, UK, France, Spain, and Russia. Among these, Germany is expected to dominate the regional market share due to robust automotive manufacturing base and shifting consumer preference to safety enabled vehicle.

Asia Pacific is predicted to witness a strong Automotive Film Market growth on account of low setup manufacturing cost and rising consumer awareness towards the benefits offered by the product. Moreover, the presence of broad range of sizes and grades of the product is predicted to provide consumer with a number of choices, resulting in the increased demand for window and paint protective films. India, Japan, Australia, South Korea, and China are among the key contributors in the regional market growth owing to increasing disposable income coupled with rising demand for personal vehicles. The Middle Eastern & African countries such as Egypt, South Africa, Qatar, Israel, Saudi Arabia, and the United Arab Emirates (UAE) are among the main contributors in the regional automotive film market growth on account of rising demand for luxury cars and increasing purchasing power of consumers. Furthermore, major manufacturers operating in the market are focusing on tapping the available opportunities in numerous countries of Asia Pacific and the Middle East & Africa.

Segmentation

Globally, the Global Automotive Film Market is segmented on the basis of type, application, vehicle type, and region. Based on type, the market is classified into wrap films, window films, and paint protection films. Based on application, the market is bifurcated into interior and exterior. Based on vehicle type, the automotive film market is segmented into passenger cars and commercial vehicles. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

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Key Players

Some of the key industry participants operating in the Global Automotive Film Market are Avery Dennison Corporation. (U.S.), HEXIS S.A. (France), 3M (U.S.), Eastman Chemical Company (U.S.), Arlon Graphics, LLC. (U.S.), MATERIAL SCIENCES CORPORATION (U.S.), DuPont (U.S.), Garware Suncontrol (India), NEXFIL (U.S.), Johnson Window Films, Inc. (U.S.), Saint-Gobain Performance Plastics (France), Madico, Inc. (U.S.), Kay Premium Marking Films LTD (UK), and others.