Report : South & Central America 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 3.9% CAGR, the South & Central America 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 South & Central America automotive films market was valued at US$ 366.16 million in 2022 and is expected to reach US$ 460.39 million by 2028, registering a CAGR of 3.9% from 2022 to 2028. Rise in popularity of electric cars and recovery of automotive industry post-pandemic are the critical factors attributed to the South & Central America automotive films market expansion.
In recent years, there has been tremendous adoption of electric vehicles (EVs) across the world. The rising adoption of electric vehicle charging infrastructure in developed and developing countries is influencing the demand for electric cars. Automotive films are used to protect surfaces and windows of a vehicle. Automotive films such as window tint and paint protection films are stained resistant and defend against stone chips, minor scratches, bug spray, swirl marks, and other paint damage. They also protect vehicles from harmful UV radiation. Thus, increasing demand for electric cars propel the utilization of automotive films, thereby driving the South & Central America automotive films market growth.
On the contrary, regulations on using automotive films hampers the South & Central America automotive films market.
Based on film type, the South & Central America automotive films market is segmented into window films/tints, wrap films, and paint protection films. The wrap films segment held 67.1% share of South & Central America automotive films market in 2022, amassing US$ 245.58 million. It is projected to garner US$ 308.40 million by 2028 to expand at 3.9% CAGR during 2022–2028.
Based on application, the South & Central America automotive films market is segmented into passenger cars, commercial vehicles, and two wheelers. The passenger cars segment held 46.0% share of South & Central America automotive films market in 2022, amassing US$ 168.57 million. It is projected to garner US$ 217.51 million by 2028 to expand at 4.3% CAGR during 2022–2028.
Based on country, the South & Central America automotive films market has been categorized into Brazil, Argentina, the Rest of South and Central America. Our regional analysis states that the Rest of South and Central America captured 44.1% share of South & Central America automotive films market in 2022. It was assessed at US$ 161.65 million in 2022 and is likely to hit US$ 193.53 million by 2028, exhibiting a CAGR of 3.0% during the forecast period.
Key players dominating the South & Central America automotive films market are 3M Co; Avery Dennison Corp; Compagnie de Saint Gobain SA; and Eastman Chemical Co, among others.
- In 2020; Eastman expanded in Dresden to support new Coating and Laminating line for film.
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