The global automotive label market size is anticipated to reach around US$ 10,000 Mn by 2027 and growing at a CAGR of 5% during the forecast period 2020 to 2027.
The automotive labels are mostly used to access detail information regarding the OEM available in the vehicle. Also, automotive labels provide security, identification to the customers by providing different barcodes, RFID identification, QR codes. A label is applied to automotive parts to collect the data regarding time, model information, manufacturer, operational range and a host of other parameters. The bolts and paste are easily assembled. These automotive labels are widely used in the automotive industry.
The demand for RFID labels from the automotive industry and the compulsory arrangement to the vehicle labeling regulations are some of the main drivers of the growth of automotive label market. As the demand of smart labels like barcode and RFID for labeling, detail information, and safety regarding vehicles are the factors that are driving the automotive label market. Furthermore, the new opportunities for the growth of the market are launching of innovative technologies, and emerging markets in automotive industry. Also, some other factors such as rising demand for oil resisting labels and weather proof labels in vehicles is expected to drive the market. However, the factors that are restraining the growth of market are high cost of raw materials required by manufacturing of labels, high labor cost, and errors during printing labels.
By type, asset labels hold major share in the market as many raw materials such as metal, polyester or poly vinyl chloride were manufactured and were built to promote the identification of the machinery. Such labels are highly robust and offer outstanding environmental and technological performance. Through the synchronization processes of repair, servicing, and inventory monitoring of manufacturers as well as the management of the quality of the commodity, the creation of the asset mark is assisted.
The market research study on “Automotive Label Market (By Type: Warning & Safety Labels, Branding Labels, Dome Labels, Asset Labels, Others (inventory tags, VIN labels, and nameplates); By Identification Technology: RFID, Barcode, Hologram, Color Coding; By Printing Technology: Flexography, Offset, Digital Printing, Screen Printing, Others (Letterpress, and Gravure Printing); By Application: Exterior Labels, Interior Labels, Engine Component Labels, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global automotive label market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global automotive label market are technology, sales channel, application, and major geographic regions. The automotive label market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. Rising demand for vehicles, stringent regulation, and growing adoption of environment friendly vehicles among consumers are some of the factors that are flourishing the automotive label market in North America. Furthermore, Europe hold the second position. Asia Pacific is anticipated to hold the largest share in the automotive label market and also expected to grow during forecast period. The factors such as environmental concerns for manufacturers and rising adoption of smart labels by the consumer is likely top dominate the market in this region. In Asia Pacific, China and India are the major market that has tremendous potential for automotive labels markets.
While the presence of a minimal number of vendors in the market provides the alternative and due to the automotive vehicle label market is recent and is already in its development, and is improved. Companies are focusing investment and development in increasingly increasing regions such as the Asia Pacific to expand their business activities. Major players include in this report are 3M, William Frick & Co., Identco, UPM Raflatac, Sika AG, Weber Packaging Solutions, Inc., Lewis Label Products, CCL Industries, Inc., Avery Dennison Corporation, tesa SE, H.B. Fuller, Dunmore, and others.
The global automotive label market is segmented as below:
Automotive Label Market By Type
Automotive Label Market By Identification Technology
Automotive Label Market By Printing Technology
Automotive Label Market By Application
Automotive Label Market By Geography
Middle East & Africa
As per Acumen Research and Consulting, the market value of Automotive Label is anticipated to be around US$ 10,000 Mn in 2027.
Automotive label market is anticipated to grow around 5% CAGR amid the forecast period.2020-2027
Asia Pacific held maximum share in 2019.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
Growing demand for smart and active labels across the globe is the major drivers for the growth of the automotive label market.
Rising raw material cost for label is a major factor expected to restraint the growth of the market.
By type, asset labels hold major share in the market as many raw materials such as metal, polyester or poly vinyl chloride were manufactured and were built to promote the identification of the machinery.