Market Research Report
Automotive Wrapping Films Market with COVID-19 Impact analysis By Vehicle Type By Application By Sales Channel and By Region - Size, Share, & Forecast from 2021-2027.
|Automotive Wrapping Films Market with COVID-19 Impact analysis By Vehicle Type By Application By Sales Channel and By Region - Size, Share, & Forecast from 2021-2027.|
Published: October 1, 2021
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Content info: 281 Pages
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The Automotive Wrapping Films market size was valued at USD 2.4 billion in 2020 and is projected to reach USD 17.9 billion by 2027, expanding at a CAGR of 22.4% during the forecast period, 2021-2027. One of the primary elements driving market expansion is the modernization of the consumer lifestyle.
Adoption of new designs and growth in the trend of customizing the car is expected to have a significant beneficial influence on the automobile wrap films industry. The increased use of wrap films for advertising purposes is expected to benefit the automobile wrap films industry. Furthermore, as the use of car wrap film for product marketing campaigns grows, the demand for the automotive wrap is expected to rise throughout the projected period. Furthermore, growth in automobile racing events and the incorporation of electric vehicles are expected to drive the automotive wrap films market throughout the forecast period.
The rising acceptability of solid color films such as matte black, blue, matte orange, pink, and green is expected to enhance consumer demand in the United States. Furthermore, textured finishes such as wood grain, carbon fiber, and leather, brushed metal are fast becoming popular in North America and Europe. The requirement for long-term car paint protection is also projected to drive product demand throughout the forecast period. The product is rapidly being utilized in a wide range of applications, including heavy-duty, light-duty, and medium-duty vehicles. Furthermore, the product's cheap cost in comparison to car paint is expected to boost demand during the projected period.
Increasing disposable income levels are projected to have a beneficial influence on automotive sector growth, which will boost product demand throughout the projection period. Automotive wrapping films are an effective and low-cost way to personalize any vehicle. These films protect the original paint of the vehicle and help it retain its resale value.
The worldwide automotive wrap films market may be divided into several segments, including application, vehicle type, sales channel, and geography. The automobile wrap films market may be divided into three categories based on application: window tint, paint protection, and others. Wrap films on windows reject nearly 60% of solar radiation, preventing excessive heat generation and maintaining the inside temperature of the car.
The automotive wrap films market is split into two segments based on vehicle type: commercial vehicle and a passenger vehicle. The commercial vehicle market is anticipated to grow rapidly. Advertising firms favor light commercial vehicles and buses for product marketing or advertising reasons. Commercial vehicles are expected to grow significantly throughout the projection period due to their large surface area, used for long-distance transport, and capacity to reach a broader audience.
The automobile wrap films market may be divided into two segments based on sales channel: OEM and aftermarket. The availability of various wrap film manufacturers with dependable service, as well as the need for unique solutions, are likely to push the aftermarket segment over the forecast period.
With the need for vehicle personalization, the rise in demand for compact vehicles, and the presence of major automotive hubs in the area, Asia Pacific is projected to be a very appealing automotive wrap films market throughout the forecast period. Countries such as India, China, and South Korea are expected to drive the regional automobile wrap films market over the projected period.
Some of the players operating in the market are: 3M, Avery Dennison Corporation, Arlon Graphics, LLC, Madico, Inc, Eastman Chemical Company (US), Prestige Film Technologies (UK), HEXIS S.A., Garware Polyester Ltd., Nexfil, and Kay Premium Marking Films Ltd.
The scope of this report covers the market by its major segments, which include as follows: