Increasing Number Of Automotive Vehicle Production To Boost The Demand Of Automotive Wrap Films Market By 2030
- by tom-clark
Automotive Wrap Films Industry Overview
The global automotive wrap films market size is expected to reach USD 28.89 billion by 2030, registering a CAGR of 22.2%, according to a new report by Grand View Research, Inc. The rising global population and the increasing disposable income are expected to have a positive impact on the demand for automotive wrap films over the forecast period.
Automotive plastic wrap films are used for advertising, brand marketing, and the personalization of trucks, buses, and passenger cars. The flourishing global sign & graphics industry owing to the increasing demand for mobile advertising is expected to drive the application of these films. The lower cost of automotive wrap films than vehicle paints is also fueling the growth of the market.
Automotive Wrap Films Market Segmentation
Grand View Research has segmented the global automotive wrap films market based on application and region:
Based on the Application Insights, the market is segmented into Passenger Cars, Buses and trucks.
- The market has been segmented into passenger cars, buses, and trucks. In terms of revenue, passenger cars accounted for the largest revenue share of 53.81% in 2021. The segment is expected to maintain its dominant position owing to the reducing prices of car wraps and increasing customer preference for vehicle customization.
- The increased popularity of automotive wrap films and the availability of varied colors and textures have led to a rapid rise in demand for the personalization of cars. Spot graphics and lettering are also very popular among drivers for advertising as well as personalization.
- Advertisements through buses provide significant opportunities in developing regions, namely, Asia Pacific, Central & South America, and the Middle East & Africa with a large rural population as buses have high accessibility to rural areas.
- Some of the main factors driving the growth of the trucks segment of the market for automotive wrap films are flourishing industrial sectors in emerging economies and increasing demand from the logistics and construction sectors owing to surged construction activities taking place globally.
Automotive Wrap Films Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The cost of raw materials such as PVC along with plasticizers, pigments, fillers, processing aids, and certain additives, which are used to manufacture automotive wrap films is expected to play a significant role in determining the final price of the product. Additionally, strategic partnerships, acquisitions, and new product developments are the popular strategies adopted by a majority of the players operating in the market.
Some prominent players in the global automotive wrap films market include:
- Avery Dennison
- Arlon Graphics, LLC
- Kay Premium Marking Films (KPMF)
- Ritrama S.p.A.
- Vvivid Vinyl
- Orafol Group
- Hexis S.A.
- Guangzhou Carbins Film Co., LTD
- JMR Graphics, Inc.
Order a free sample PDF of the in Automotive Wrap Films Market Intelligence Study, published by Grand View Research.
Automotive Wrap Films Industry Overview The global automotive wrap films market size is expected to reach USD 28.89 billion by 2030, registering a CAGR of 22.2%, according to a new report by Grand View Research, Inc. The rising global population and the increasing disposable income are expected to have a positive impact on the demand…
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