The automotive film is a thin laminate film which is applied to the exterior and interior parts of an automotive vehicle. The automotive films provide added security, privacy, and comfort. The paint protection films also known as window films are the two key types of automotive films. These films are used to enhance the appearance of a vehicle and provide high gloss with high transparency. Automotive solar films are applied to the windows of cars, bus coaches, and trucks. The automotive solar films also protect the interiors of a vehicle from the intensity of the sun’s harmful ultraviolet rays (UV), which can cause skin discoloration, this is the key attribute for the growth of the product over the past decade. In addition, solar films are made of resins, plastic, and glue.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis – The factors that boost the market growth include increase in demand for passenger’s safety and rise in safety standards set by the government, which is anticipated to drive the growth of the market. However, increasingly stringent regulations for automotive films in various countries coupled with a selection of window, installation and application process may restrain the growth of the market. Furthermore, the rise in demand for passenger cars and improvement in the standard of living with increase in privacy & safety concerns among customers are expected to offer lucrative opportunities for the market.
COVID-19 scenario analysis:
- The automobile sector was struggling in many countries before the pandemic and due to the lockdown, Supply and Demand have vanished from the market.
- The impact of the coronavirus will affect the sales of automobiles in every country, which will impact the absorption pad market as well.
- The deadly virus has destroyed the supply chain of many markets and it will take some time to revive back.
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Increase in safety standards set by the government – The government of many developed countries is intervening in the safety of the passengers while driving in vehicles. A few manufacturers are also adopting an initiative such as mergers and acquisitions & strategies such as acquiring divisions of other competitors to enhance their product offerings. The companies are seeking to meet government safety standards. Hence, increase in safety standards set by the government of various regions for the protection of the passengers is anticipated to drive the overall demand for the automotive solar film market in the future.
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