Automotive Wrap Films Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Automotive Wrap Films Market


The global Automotive Wrap Films market size is projected to reach US$ 14.27 billion by 2026, from US$ 4.29 billion in 2020, at a CAGR of 22.2% during 2021-2026. Growing sign & graphics industry, due to technological advancements in printing equipment, is expected to propel the market growth. According to the Advertising Association of America, the outdoor advertising market is witnessing a significant growth in the economy.

Demand for mobile advertising is further expected to likely to impel the market growth. In addition, growing popularity of personalized vehicles is anticipated to have a positive impact on the market. Changing consumer lifestyle combined with rising disposable income levels also plays a major role in boosting the demand for automotive wrap films.

Growing acceptance of solid color films including matte orange, matte black, green, blue, and pink is expected to fuel the product demand further. Moreover, textured finish, such as wood grain, carbon fiber, brushed metal, and leather, is being rapidly adopted in European and in North American countries. In addition, low cost of these films as compared to vehicle paints is likely to propel the market growth over the forecast period.

Need for long-term protection of vehicle paints is also expected to fuel the product demand as it protects the original paint of the vehicles and maintains the resale value. Moreover, vehicle wraps can be easily removed and re-applied to change color and texture, which is not possible with paints. Thus, it is being increasingly used in various applications including heavy-, light-, and medium-duty vehicles, thereby augmenting the market growth.

Market Segmentation, Outlook & Viewpoint: Global Automotive Wrap Films Market

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Heavy Duty Vehicles
  
Light Duty Vehicles
  
Medium Duty Vehicles

Key Players, Recent Developments & Regional Insights: Global Automotive Wrap Films Market

On the basis of application, the market has been segmented into heavy- , medium-, and light-duty vehicles. In 2018, light duty vehicles segment held the largest share of the global market and is expected to continue its dominance over the forecast period. Rising demand for colorful graphics for personal cars, Sports Utility Vehicles (SUVs), and vans coupled with growing opportunities for drivers to earn money through advertisements is expected to elevate demand for the product in this segment throughout the forecast period. In addition, high density of such vehicles on roads is expected to have a positive impact on the product demand.

Heavy-duty vehicles segment also held a significant share of the market and is expected to register a steady CAGR over the forecast period. Large billboards are now being replaced by mobile billboards using heavy duty vehicle films, which not only leads to enhanced visibility but also provides a higher Return on Investment (RoI) for the consumers. In addition, increasing demand for vehicle branding coupled with rising sales of heavy-duty vehicles across the globe is further expected to boost the segment growth over the forecast period.

Regional Insights

North America held the largest share of the global market in 2018. Early modernization coupled with quick adoption of new technologies in the region has led to an increased demand for personalized vehicles, ultimately leading to the growth of the automotive wrap films market. Rising awareness regarding safety and emphasis by regulatory bodies on implementing fire protection systems in buildings is anticipated to augment the regional market further. Asia Pacific is anticipated to witness the fastest growth on account of rising disposable income levels along with popularity of vehicle color-changing technology in the region. Rapidly growing demand for passenger cars and changing consumer lifestyles are also likely to bolster the product demand across the region.

Automotive Wrap Films Market Share Insights

Key companies in this market include Avery Dennison Corporation, Arlon Graphics LLC, The 3M Technology, Hexis U.K., Orafol Group, and Ritrama S.p.A. Most of the companies are present in North America and Europe. These companies have undertaken strategies, such as M&A and expansion of distribution channels to increase their product offerings and strengthen the global reach.

Key Insights Covered: Global Automotive Wrap Films Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Automotive Wrap Films industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Automotive Wrap Films industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Automotive Wrap Films industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Automotive Wrap Films industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Automotive Wrap Films industry.

Research Methodology: Global Automotive Wrap Films Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other