The “Global Automotive Wrap Films Market Size, Share & Trends Analysis Report by Application (Light-duty, Medium-duty Vehicles), by Region (APAC, North America), and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global automotive wrap films market size is expected to reach USD 19.7 billion by 2028. It is projected to expand at a CAGR of 22.4% from 2021 to 2028.
High product application scope coupled with increasing demand from the light-duty vehicle applications is likely to have a positive impact on the market growth. The market has witnessed advancements, both in terms of technologies and materials, to facilitate low-cost and mass production of the products. This would also lead to flexibility in designs and ease of manufacturing for a wide range of applications including heavy, medium, and light-duty vehicles. Demand for automotive wrap films in Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
The growing automotive industry, rising population, and increasing disposable income levels in the emerging economies of the region are likely to be the primary factors driving the market over the coming years. The rising popularity of color-changing vehicle wraps is further expected to propel the product demand in the region. Rapid industrialization coupled with government initiatives to facilitate various policies in economies, such as India, is projected to drive market growth in the next seven years. The growing population in the region creates huge opportunities for the development of the market over the forecast period. The medium-duty vehicles segment is anticipated to witness considerable growth during the forecast period.
Growing construction, transportation, and industrial sectors are likely to increase sales of heavy-duty vehicles during the forecast period. Increasing demand for vehicle branding coupled with the rising number of heavy-duty vehicle sales in North America is expected to have a positive impact on the market growth in the coming years.
Automotive Wrap Films Market Report Highlights
- The global market was valued at USD 4.0 billion in 2020 and is estimated to grow at a CAGR of 22.4% from 2021 to 2028
- Light-duty vehicles are expected to be the fastest-growing application segment over the forecast period
- North America accounted for the highest revenue share of the global market in 2020 and is estimated to retain the leading position throughout the forecast period
- This growth can be credited to the increasing investments in advanced processing technologies and rapidly expanding manufacturing base in North America
- On the other hand, Asia Pacific is projected to record the fastest CAGR of more than 25% from 2021 to 2028
Market Driver Analysis
- Growing demand for mobile advertising
- Low cost as compared to vehicle paint
- Growing sign and graphics industry
Market restraints analysis
- Technical complexity
Key Topics Covered:
Automotive Wrap Films Market Variables, Trends, & Scope
- Business segment trends
- Value chain analysis
- Raw material trends
- Technology overview
- Regulatory landscape
- Market variables analysis
- End user buying behavior
- Automotive wrap films – Colors & textures
- Calendered and cast automotive wrap films
- Business environment analysis tools
Competitive And Vendor Landscape
- Competitive environment
- Participant categorization
- Strategy framework
- Key companies, by regions
Automotive Wrap Films Market: Application Estimates & Trend Analysis
- Market: Application movement analysis, 2020 & 2028
- Heavy – duty Vehicles
- Light – duty Vehicles
- Medium – duty Vehicles
Automotive Wrap Films Market: Regional Estimates & Trend Analysis
- Avery Dennison Corporation
- Arlon Graphics, LLC
- The 3M Company
- Kay Premium Marking Films (KPMF)
- Ritrama S.p.A.
- Vvivid Vinyl
- Orafol Group
- Hexis S.A.
- Guangzhou Carbins Film Co., LTD
- JMR Graphics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2wy1t3
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