PUBLISHER: Grand View Research | PRODUCT CODE: 1376134
PUBLISHER: Grand View Research | PRODUCT CODE: 1376134
The Europe automotive wrap films market size is anticipated to reach USD 7.94 billion by 2030, according to a new report by Grand View Research, Inc.. The market is projected to grow at a CAGR of 21.6% from 2023 to 2030. The mobile advertising is a major factor driving the market in Europe. Mobile advertising has emerged as an affordable and effective means of advertising over the past few years. Using automotive wrap films allows the conversion of any vehicle including car, bus, and truck into a moving billboard, thus facilitating an increased number of views per day.
Changing consumer lifestyles coupled with rising disposable income plays a major role in increasing demand for automotive wrap films across the region. Increasing demand for customization on light-duty vehicles including cars and two-wheelers is expected to drive market growth across Europe. Manufacturers of automotive wrap films offer them in a wide range of colors and textures for use in vehicles. This increases the demand for these wrap films across Europe to carry out the customization of vehicles.
Automotive plastic wrap films are also used for advertisement applications, as well as for the differentiation of trucks, buses, and passenger cars. The flourishing sign & graphics industry owing to the increasing requirement of mobile advertising, coupled with lower costs of automotive wrap films than vehicle paints, is fueling the growth of the market in Europe.
The Europe market for automotive wrap films has witnessed numerous changes in terms of designs, textures, and colors over the past years. The advantages of wraps over vehicle paint, increasing consumer propensity towards customization of vehicles, and increasing return on investment on mobile advertising have resulted in increased consumer preference toward vehicle wraps over paint.