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Industry Insights, Market Size, CAGR, High-Level Analysis: Central & South America Automotive Wrap Films MarketThe Central and South America automotive wrap films market size was valued at USD 170.30 million in 2018 and is projected to register a CAGR of 19.4% over the forecast period. Rising trend of using wrap advertising coupled with popularity of automobile customization is likely to drive the product application. Fleet wraps are gaining popularity for promotion and advertisement of new product launches and marketing events. It can boost brand recognition by 15 times compared to other advertising mediums.The cost-effectiveness of these films over other means of outdoor advertisement is expected to further augment the demand in near future. Companies operating in Central and South America automotive wrap films market lay high emphasis on expanding their footprint in an attempt to drive revenue and to increase market shares. The companies are expanding their services in countries, such as Argentina, Colombia, Ecuador, Bolivia, French Guiana, El Salvador, Brazil, and Chile, among others to cater to the rising demand for automotive wrap films for commercial fleets. The market players compete on the basis of product quality offered and technology used for the production of automotive wrap films. They also compete on the basis of product development and form strategic partnerships with regional players to minimize the risk of expanding into a new marketplace. Rising penetration of out-of-home or outdoor advertising in emerging countries, such as Argentina, Brazil, Mexico, Chile, and Columbia is anticipated to drive the market. Rapid urbanization coupled with rising trend of automobile customization is expected to further propel the demand for automotive wrap films. Advancements in inkjet, printhead, and media technologies is likely to further fuel the growth. Changing consumer lifestyle, rise in youth population, and popularity of automobile graphics are some other factors expected to augment the market in the forthcoming years.
Application Insights of Central & South America Automotive Wrap Films MarketLarge-sized vehicles with graphics attract commuters and allow easy access to information. Moreover, heavy duty vehicles generally travel long distance allowing access to millions of untapped areas for the promotion of the brand image. Different types of vinyl films are available for vehicle body and windows. For instance, the body of buses is covered with opaque vinyl film while the windows are covered with perforated and special quality films to maintain visibility. Fast application and removability of these films allow flexibility in the application of different graphics on the vehicles. Promotion of smaller brands can be very expensive through billboards, thus, many companies prefer automotive wrap films over billboards. The companies need to comply with road transport authority, which makes it compulsory for every commercial vehicle to display the name of the company on each door of the its vehicle. This is also expected to drive the market growth over the forecast period. Advertisements through medium duty vehicles provide huge opportunity in developing countries with rising disposable income and large population. The prominent countries include Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, and Peru. Majority of medium duty vehicles are used for transporting goods between the cities, which helps reach untapped population. These vehicles have high accessibility to places with inefficient road transportation.This factor is anticipated to bode well for the growth of the segment in the forthcoming years.
Country InsightsBrazil out-of-home (OOH) advertisement industry is growing at a tremendous pace with increased awareness and high growth in digital inkjet large format printing. Inkjet printing market is witnessing increased investment with growth of around 12.0% over the past few years. This growth is expected to have a positive impact on the demand for automotive wrap films, owing to low cost and large-scale visibility for advertising. In Mexico, auto wrap films are majorly used for partial wrapping and lettering of automobiles as they are available at affordable prices. In addition, increasing popularity of vehicle graphics coupled with low cost of films as compared to vehicle paints is expected to fuel market growth. Moreover, rising usage of wrap films in racing events is anticipated to propel the demand for automotive wrap films from the country.
Central and South America Automotive Wrap Films Market Share InsightsMost of the key market players have integrated their production and distribution operations to maintain product quality and to expand regional reach. This provides companies a competitive advantage in the form of cost benefits thus increasing the profit margin. Companies are undertaking R&D activities to develop new products to sustain market competition and to cater to the changing consumer demand patterns. Some of the popular technologies mainly include cast and calendered vinyl films. Cast vinyl films process technique is gaining popularity over calendered films owing to high operating temperature ranging from 400°F to 450°F and suitability for use in large curves and bends. Research activities focused on new materials, which combine several properties, are projected to gain wide acceptance in the forthcoming years. Some of the prominent product manufacturing include Avery Dennison Corporation, Arlon Graphics, LLC, 3M, Kay Premium Marking Films (KPMF) Ltd., Ritrama S.p.A., Hexis S.A., VViViD Vinyl, ORAFOL Europe GmbH and JMR Graphics.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Central & South America Automotive Wrap Films Market Research ReportThis report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the Central and South America automotive wrap films market report on the basis of application and country:
Application Outlook (Revenue, USD Million, 2019 - 2030)
- Heavy Duty Vehicles
- Medium Duty Vehicles
- Light Duty Vehicles
Country Outlook (Revenue, USD Million, 2019 - 2030)
- Central & South America
- Rest of CSA
Table of Content Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research scope and assumptions 1.3 Information Procurement 1.3.1 Purchased Database 1.3.2 Gvr’s Internal Database 1.3.3 Secondary Sources 1.3.4 Third Party Perspective 1.3.5 Primary Research 1.4 Information Analysis 1.4.1 Data Analysis Models 1.5 Market Formulation and Data Visualization | read more...