The Global Automotive Wrap Films Market Size accounted for USD 4,689 Million in 2021 and is estimated to achieve a market size of USD 28,344 Million by 2030 growing at a CAGR of 22.4% from 2022 to 2030. The growing demand for vehicle protection from threats such as rainfall, pollution, and rust propels the automotive wrap films market value. The significant growth of the advertising and animations sector, shifting customer preferences, and an increase in discretionary income level all contribute to the global automotive wrap films market growth.
Automotive Wrap Films Market Report Key Highlights
Automotive wrap films are vinyl-based graphics used on the paint of the vehicle for the purpose of enhancing the vehicle’s appearance. Automotive wrap films are also used to protect the vehicle’s original paint from environmental hazards such as corrosion and dust. The average shelf life of an automotive wrap film is reported to be approximately five years, thereby making it cost-effective. As they are affordable, hence they are also used for advertisement purposes over than advertisement forms.
Global Automotive Wrap Films Market Trends
Automotive Wrap Films Market Report Coverage
|Market||Automotive Wrap Films Market|
|Automotive Wrap Films Market Size 2021||USD 4,689 Million|
|Automotive Wrap Films Market Forecast 2030||USD 28,344 Million|
|Automotive Wrap Films Market CAGR During 2022 - 2030||22.4%|
|Automotive Wrap Films Market Analysis Period||2018 - 2030|
|Automotive Wrap Films Market Base Year||2021|
|Automotive Wrap Films Market Forecast Data||2022 - 2030|
|Segments Covered||By Film Type, By Vehicle Type, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Avery Dennison Corporation, Arlon Graphics, LLC, The 3M Company, Kay Premium Marking Films (KPMF), Ritrama S.p.A., Vvivid Vinyl, Orafol Group, Hexis S.A., JMR Graphics Inc., and Eastman Chemical Company.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Continuous demand for pre-owned car markets is the major driving factor for the automotive wrap films market as automotive wrap films help in the removal of scratches from old vehicles. In addition, the rise in consumer preference for paint protection also boosts the growth of the global automotive wrap films market.
The acceptances of new designs, as well as the growing trend of personalizing the car, are expected to have a significant beneficial impact on the automobile wrap films industry. Increased use of wrapping films for promotional purposes is expected to benefit the vehicle wrap films industry. Moreover, as the use of automobile wrap material for marketing strategy and advertising campaigns grows, the desire for automobile wrap is expected to rise throughout the projected timeframe. Furthermore, surges in automobile racing events as well as the incorporation of electric mobility are expected to drive the automotive wrap films industry throughout the forecast timeframe.
Moreover, the growth in the automotive graphic industry also augments the demand for the automotive wrap films market globally. Also, the growing interest in mobile advertisement coupled with increasing preference for personalized automotive propels the market growth worldwide. However, the intensity of competition in the automotive industry over such as quality, cost, and appearance is likely to restrict the growth of automotive wrap films during the forecast period.
Automotive Wrap Films Market Segmentation
The global automotive wrap films market segmentation is based on film type, vehicle type, application, and geography.
Automotive Wrap Films Market By Film Type
According to an automotive wrap films industry analysis, the window films segment accounted for a significant market share in 2021. Wrap films on windows reject up to 60% of solar light, preventing extreme heat buildup and maintaining the core temperature of the automobile. Moreover, during an accident, wrap films contain glass particles and limit potential harm. They improve seclusion and minimize glare, resulting in a more pleasant and safer ride.
Automotive Wrap Films Market By Vehicle Type
In terms of vehicle type, the light-duty vehicles segment dominated the worldwide automotive wrap film industry and is likely to maintain its position throughout the forecast period. The growing demand for luminous graphics for individual cars, Sport utility vehicles, and trailers, combined with chances for motorists to generate income through commercials, is likely to boost the automobile wrap film industry.
Automotive Wrap Films Market By Application
According to the automotive wrap films market forecast, the advertisement purpose segment is predicted to expand at a rapid pace in the market over the upcoming years. Evolving consumer lifestyles and increased demand for personalized vehicles are projected to have a significant influence on segment growth. Due to its convenience and cost-effectiveness, the growing demand for wrap advertisements contributes to strong industry expansion. Over the last few years, mobile advertising has emerged as an efficient and cost-effective advertising medium. The application of automobile wrap films enables any vehicle, whether a van, minivan, or bus, to be converted into a traveling billboard, allowing for an increasing number of visitors each and every day, driving the segment growth.
Automotive Wrap Films Market Regional Outlook
The Middle East & Africa
North America Dominates the Global Automotive Wrap Films Market
Based on region, North America was the largest revenue generator for the global automotive wrap films market in 2021 owing to timely innovation coupled with the rapid acceptance of new technologies regarding personalized vehicles. In addition, the growth in awareness regarding safety by regulatory bodies on employing fire protection systems at the construction site is a further project to boost the market in the region. Asia-Pacific is projected to be the most attractive market for manufacturers of automotive wrap films throughout the forecast period due to the increase in preference for color-changing technology.
Automotive Wrap Films Market Players
Some of the top automotive wrap films market companies offered in the professional report include Avery Dennison Corporation, Arlon Graphics, LLC, The 3M Company, Kay Premium Marking Films (KPMF), Ritrama S.p.A., Vvivid Vinyl, Orafol Group, Hexis S.A., JMR Graphics Inc., and Eastman Chemical Company.
The estimated value of global automotive wrap films market in 2021 was accounted to be USD 4,689 Million.
The projected CAGR automotive wrap films market during the analysis period of 2022 to 2030 is 22.4%.
The prominent players of the global automotive wrap films market are Avery Dennison Corporation, Arlon Graphics, LLC, The 3M Company, Kay Premium Marking Films (KPMF), Ritrama S.p.A., Vvivid Vinyl, Orafol Group, Hexis S.A., JMR Graphics Inc., and Eastman Chemical Company.
North America held the dominating automotive wrap films market during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for automotive wrap films market during the analysis period of 2022 to 2030.
Rising demand for vehicle protection against problems such as dirt, rain, and rust, as well as growing adoption of pre-owned car, drives the growth of global automotive wrap films market.
Based on vehicle type, light duty vehicle segment is expected to hold the maximum share of the automotive wrap films market.