Anti-Fog Car Window Films Sector: Growth Drivers and Challenges
Growth Drivers
Rising Sales of Passenger Vehicles
According to International Organization of Motor Vehicle Manufacturers (OICA), sales of passenger cars increased from 45 million units in the year 2005 to 68 million units in the year 2018.
The sales of passenger vehicles around the globe grew at a CAGR of around 3.2% during the period 2005-2018. With the increasing sales of passenger vehicles, it is anticipated to impact positively towards the sales of anti-fog car window films. Anti-fog car window films are applied on various parts of a vehicle, for instance, headlights, car camera, driver side window, pillion side window, rear side windows, glass panel sun/moon roofs, dashboard cockpit clusters, wing mirrors, and others. Increasing awareness for the benefits applicable for applying anti-fog car window films in vehicles, along with the increasing car fleet available throughout the world, such factors are anticipated to drive the growth of the global anti-fog car window films market during the forecast period.
Increasing Concern for Vehicle Crashes Occurred Due To Poor Visibility
According to the World Health Organization (WHO), 392, 904 number of car users have died in the year 2018. Moreover, according to the Federal Highway Administration operated by the U.S. Department of Transportation, around 38,700 vehicle crashes occur due to fog each year. Apparently, over 600 people die due to the issue and more than 16,300 people remain injured.
Poor visibility caused by dense fog and heavy precipitation is a common issue across nations that is faced by vehicle drivers. Low visibility conditions cause increased speed variance and raises the risk of a crash. Rising concern amongst vehicle owners for such issues of poor visibility is anticipated to raise the demand for products such as anti-fog car window films which helps to increase the visibility of the vehicle driver. Such a factor is anticipated to contribute significantly towards the growth of the global anti-fog car window films market in the upcoming years.
Challenges
Highly Unorganized Industry
As the market of anti-fog car window films have grown over the years, the market is aiming towards a level of saturation as a greater number of unorganized players are promising consumers with the availability of the anti-fog car window film products at a very low and affordable cost. High fragmentation of the market as well as growing level towards market saturation are some of the factors anticipated to act as a barrier to the growth of the global anti-fog car window films market.
