Report : Middle East & Africa Automotive Films Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Film Type (Window Films/Tints, Wrap Films, and Paint Protection Films) and Application (Passenger Cars, Commercial Vehicles, and Two Wheelers)
At 1.7% CAGR, the Middle East & Africa Automotive Films Market is speculated to be worth US$ 490.24 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa automotive films market was valued at US$ 444.32 million in 2022 and is expected to reach US$ 490.24 million by 2028, registering a CAGR of 1.7% from 2022 to 2028. Rise in popularity of electric cars and recovery of automotive industry post-pandemic are the critical factors attributed to the Middle East & Africa automotive films market expansion.
The automotive industry was consistently growing till 2019. However, during COVID-19 pandemic, the demand for commercial and private vehicles was reduced. As a result, the automotive industry showed a decline in growth from 2019 to 2020. In 2021, the industry started to recover. The recovering automotive industry is consolidated with several international players adopting various strategic development initiatives. A few major players include Volkswagen, Toyota Motor Corporation, Daimler AG, Ford Motor Company, and Honda Motor Company. The players are making joint ventures and partnerships and launching new products with advanced technologies to get a competitive edge. For instance, in 2020, Eastman expanded in Dresden to support new Coating and Laminating line for film. Thus, the automotive industry is growing due to the increasing strategic development initiatives such as technological advancements by manufacturers.
Moreover, passenger cars are the most common means of transportation in developed countries. Also, the increase in per capita income and improvement in standard of living are among the factors accelerating the demand for passenger cars. All these factors are contributing to the growth of the Middle East & Africa automotive films market.
On the contrary, regulations on using automotive films hampers the Middle East & Africa automotive films market.
Based on film type, the Middle East & Africa automotive films market is segmented into window films/tints, wrap films, and paint protection films. The wrap films segment held 59.5% share of Middle East & Africa automotive films market in 2022, amassing US$ 264.19 million. It is projected to garner US$ 291.95 million by 2028 to expand at 1.7% CAGR during 2022–2028.
Based on application, the Middle East & Africa automotive films market is segmented into passenger cars, commercial vehicles, and two wheelers. The passenger cars segment held 56.0% share of Middle East & Africa automotive films market in 2022, amassing US$ 248.94 million. It is projected to garner US$ 277.21 million by 2028 to expand at 1.8% CAGR during 2022–2028.
Based on country, the Middle East & Africa automotive films market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East and Africa. Our regional analysis states that the Rest of Middle East and Africa captured 46.6% share of Middle East & Africa automotive films market in 2022. It was assessed at US$ 207.12 million in 2022 and is likely to hit US$ 214.79 million by 2028, exhibiting a CAGR of 0.6% during the forecast period.
Key players dominating the Middle East & Africa automotive films market are 3M Co; Avery Dennison Corp; Compagnie de Saint Gobain SA; Eastman Chemical Co; and Profilm Advanced Materials Ltd, among others.
- In 2020; Eastman expanded in Dresden to support new Coating and Laminating line for film.
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