Automotive film market
As China has become the largest country in terms of car ownership, the automotive aftermarket has developed rapidly, and data show that the scale of China's automotive aftermarket will reach 5.2 trillion yuan in 2021. Among them, the car coating film industry is rapidly expanding in scale and has great potential, and will become a star track in the aftermarket in the future. With the acceleration of the reshuffle of the car coating film market, various brands and enterprises have begun to roll in, and grasping quality has become the key to success.
○ The car base provides room for development ○
No. 1 in the world in terms of car ownership
In 2022, China's car ownership will reach 302.1 million, exceeding United States's 283.2 million, and China will become the largest country in terms of car ownership. Relevant industry insiders pointed out that China's car ownership will continue to grow for a long time in the future and remain the world's first.
The market potential for new cars is huge
According to market analysis, the penetration rate of car coating film in the new car market is 7.5% in 2021 and will exceed 12.5% in 2022, with a growth rate of 60%.
And China's new car market also has a large incremental demand. Although the number of cars in China is very large, because of the huge population size, the number of cars owned by 1,000 people in China is very low. As of 2022, the largest number of cars per capita in the world is United States, with 837 cars per 1,000 people, and 215 cars per 1,000 people in China. It is estimated that there will be an increase of 100 million cars in China in the future, coupled with the demand for updates and iterations, the new car market has huge potential.
The huge scale of car ownership and the incremental demand for new cars provide a broad space for the development of the car coating film market.
○ The car coating film market is gradually maturing ○
With the younger consumer group and the change of consumption concept, the original car paint protection is valued by more car owners, more car owners will choose to paste invisible car clothing for their cars, the consumption habit of installing invisible car clothing has been gradually developed by the market, with the improvement of consumption capacity, the invisible car clothing market will gradually develop to the public, and the future market has great potential.
According to relevant market research reports, the global car coating film market size is expected to reach $341 million by 2024, with a compound annual growth rate of 7.1% from 2019 to 2024.
○ Involution intensifies, quality wins ○
Under the strong market demand, major car coating film brands continue to make efforts in terms of packaging, image, environment, hardware facilities, construction level, and after-sales service.
According to the changes in the needs of users, major car coating film brands have accelerated product innovation, or innovated, or upgraded products, and the invisible car clothing market has shown a hot trend.
Good quality is the basis for market success, and good substrate is the basis for good quality. Due to technical barriers, there are not many manufacturers who have mastered the production process of invisible car clothing substrates at the beginning, and some large invisible car clothing brands basically use imported substrates in order to ensure product quality. Until the rise of some substrate manufacturers, including Kaiyang. In the entire PPF industry chain, Dingxin focuses on the midstream casting link, not only has the largest dust-free casting workshop in Asia, has 8 dust-free production lines below 10,000 levels, but also has a strong R&D and production capacity. Brand alliance with Lubrizol to ensure product quality from the source, so as to achieve the integration of the industrial chain from raw materials to processing; The production of SMM301, a special base film for car coating film, has excellent performance and has been well received in the market, and SMM301 has become synonymous with high-quality base film products. At present, Dingxin's production capacity can reach 45 million m²/year, and it can continue to provide high-performance base film products for downstream enterprises.
With the rapid expansion of the car coating film market and the acceleration of market standardization and product standardization, Dingxin expects to create an industry standard made in China and guide the healthy development of the market.
