Automotive Wrap Films Market is expected USD 24.45 billion by 2029
Automotive Wrap Films Market is used for brand marketing, advertising and the personalization of buses, trucks and passenger cars. Due to the growing demand for mobile advertising, the flourishing global sign and graphics industry is anticipated to drive the application of automotive wrap films. The lower cost of automotive wrap films than vehicle paints is also increasing the growth of the automotive films market. The growing disposable income and increasing global population are expected to positively impact the market's revenue growth during the forecast period.
Data Bridge Market Research analyses that the automotive wrap films market was valued at USD 4.76 billion in 2021 and is expected to reach USD 24.45 billion by 2029, registering a CAGR of 22.7% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Market Definition
An automotive wrap film is a vinyl graphic that has directly applied over the original paint of the vehicle. These films are mainly used for two purposes, the first being to safeguard the original paint from dust and corrosion and the second being to change or improve the appearance of a vehicle. The application of the automotive film wrap allows to change the vehicle's appearance in a very short time period and in turn allows to remove the wrap and returning the vehicle back to its original condition if necessary.
Recent Development
- In April 2021, an American multinational conglomerate corporation 3M has announced the launch of its newest long-lasting protective finish for plastic trim, metal, automotive glass, wheels, and paint, 3M Ceramic Coating. This latest durable product offers the benefits consumers expect and is engineered to allow the shops to enter this private auto market developing segment. This coating delivers a exceptionally slick surface, high-gloss, which looks great, and aids in shed water rapidly while carrying away light dust. According to the company statements, 3M Ceramic Coatings are also resistant to and road salts, acid rain, harsh chemicals,
- In June 2021- the Alsa Corporation, which is the global manufacturer of chrome paints and custom coatings, is now entering the market for films, especially for automotive wrap films. These car wraps can withstand scratches of keys or other sharp things. The wrap films have a soft feeling and matte finish, still durable to high abrasion. The finish is identical to the ones we see on car interiors.
Automotive Wrap Films Market Dynamics
Drivers
- Rise in demand for mobile advertising
Mobile advertising has developed as an effective and affordable means of advertising over the past few years. The use of automotive wrap films allows conversion of any vehicle which including truck, car and bus into a moving billboard, therefore facilitating an increased number of views per day. Automotive wraps films, being eye-catching and more detailed compared to other advertising mediums to attract a large number of viewers. The growing demand in mobile advertising are expected to drive the growth rate of the market.
- Rising demand of light duty vehicles
Light duty vehicles are expected to drive the demand generation of automotive wrap films during the forecast period along with the increasing consumer traction. Also, the price compatibility and millennial consumers are the major reason for opting the light duty vehicles such as vans, cars, and SUVs. The rising demand of light duty vehicles are expected to increase the revenue growth of the market.
Opportunities
Growing economic development particularly in the automotive sector has led to growth in the demand for automotive wrap films. Further, promotion of tourism and green life by governments results in an upsurge in the usage of automotive wrap films in heavy duty vehicles, such as trucks and buses. Also, Wrap advertisements are gaining popularity at a good pace in several economies which will acts as another factor spurring market growth.
Furthermore, increase in strategic collaborations and rising emerging new markets will also act as market drivers and further enhance the profitable opportunities for the market's growth rate.
Global Automotive Wrap Films Market Scope
The automotive wrap films market is segmented on the basis of film type, Passenger Type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Film Type
- Windows Films
- Wrap Films
- Paint Protection Films
Passenger Type
- Passenger Car
- Commercial Vehicle
- Heavy Commercial Vehicle
Application
- Advertisement Purpose
- Safety Purpose
Automotive Wrap Films Market Regional Analysis/Insights
The automotive wrap films market is analysed and market size insights and trends are provided by country, film type, Passenger Type and application as referenced above.
The countries covered in the automotive wrap films market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the automotive wrap films market in terms of market share and revenue share during the forecast period. This is due to the increasing demand for automotive wrap films in this region. North America region leads the automotive wrap films market due to largest consumer demand of aesthetic appearance of the vehicle and largest number of production units of automotive vehicles in this region.
During the estimated period, Asia Pacific is anticipated to be the fastest developing region due to the Consumer preference for personalization coupled with high demand for automobiles in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Wrap Films Market Share Analysis
The automotive wrap films market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive wrap films market.
Some of the major players operating in the automotive wrap films market are:
- 3M (U.S.)
- Arlon Graphics, LLC (U.S.)
- ADS Window Films (U.K)
- AVERY DENNISON CORPORATION (U.S.)
- Hexis UK Ltd (U.K.)
- ORAFOL Europe GmbH (Germany)
- GARWARE HI-TECH FILMS LIMITED (India)
- Ritrama S.p.A (Italy)
- Eastman Chemical Company (U.S.)
- Madico, Inc (U.S.)
- NEXFIL (U.S.)
- Kay Premium Marking Films Ltd, (U.K.)
- Vvivid Vinyl (Canada)
- Guangzhou Carbins Film Co., LTD (China)
- JMR Graphics, Inc (U.S.)
- AXEVINYL Industrial Co.,Ltd (China)
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MAJOR TOC OF THE REPORT
Chapter One: Introduction
Chapter Two: Market Segmentation
Chapter Three: Market Overview
Chapter Four: Executive Summary
Chapter Five: Premium Insights
And More...
Get TOC Details: @https://www.databridgemarketresearch.com/toc/?dbmr=global-automotive-wrap-films-market
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