The global automotive solar film market is expected to witness significant growth over the forecast period. Automotive solar film market is the new technology which is applied to the automotive part, residential and commercial part; here the film refers to the window film, which can be applied to the car and building. It protects the car body from the UV rays of the sun and vehicle’s window films protects the skin from harmful UV rays of the sun that can lead to skin discoloration.
There are various types of window films which are commonly used by the firms. Dyed window films, an adhesive layer which can block from five to fifty percent of the light from entering the vehicle. Second is the metalized window film, consists of several layers it often blocks out everything but ten to forty of the light. Third is the hybrid tinting film, it offers the advantages of dyed and metalized window film and lastly ceramic film, a recent option bonded with the ceramic layer and protected by a top coat.
This is taken into consideration on account of the number of factors that have lacked in the chemicals sectors with increasing demand in the industrial sector. Films and adhesives provide protection from ultraviolet rays which are expected to be a key attribute contributing towards the growth of the product over the past few years. It also protects the interior of the vehicle. Films add security and hold shards together. Moreover, this industry also faces some drawbacks, which include wrong window application and difficulty in installation.
By application of this industry, it can be classified into various areas like residential, commercial and automotive. The automotive sector is expected to generate the maximum revenue over the forecast period. Residential window film has the unique characteristic of adding security without compromising on style. These products are responsible for reducing heat and glare at homes. It results in saving energy cost while reducing fading effects on house furnishings which is caused by ultraviolet rays. Automotive window film helps in reducing the temperature. It contributes to reducing heat and interior fading. It can even help in the commercial sector. Now, the companies can benefit from safety and privacy, glare reduction, solar control, UV protection, and energy savings. Solar films are responsible for increasing worker comfort and saving valuable energy. It can also add privacy and provide protection from hazards.
There are various drivers or factors which are leading to use of solar films. In the automotive sector, with the rapid increase in demand for vehicles is expected to increase penetration of window films. There is a tremendous potential for growth in the manufacturing sector in emerging economies such as India and China. This can help companies to expand the market in the South Asian market, where significant growth is expected. Several companies are opening up manufacturing facilities in India. With the growing demand for the automation industry window films also is projected to witness significant growth. The real estate sector is a key market for the product. The Indian real estate industry has become a key market in Asia Pacific owing to foreign funds accounting over 50 percent of investment activity in India in 2014, as compared to 26 percent in 2013. It can be useful in Commercial as well as Residential building. This will result in augmenting demand of Window Films over the forecast period.
Prominent players in the automotive solar film market are 3M, A&B Films, Atlantic Solar films, Bekaert, Friendly Frida, Erickson International, Hanita Coatings, Johnson Window Films, Lintec Corporation, Haverkamp, Solar insulation, Sungard, Suntek and Solar Guard are the primary competitors in the global region. The market relevance is increasing day by day though in India it got banned but still foreign companies are trying to convince and bring up the solutions regarding the same. Most companies have direct sales, or they try to sell through their distribution network like representatives and distributors. The industry is supposed to become highly competitive over the forecast period, and the companies are working to bring in new technological innovations.
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