The global Automotive Wrap Films market is expected to grow at a CAGR of approximately 22.4% in terms of value by 2026.
Automotive wrap films are vinyl based graphic used on the paint of the vehicle for the purpose of enhancing the vehicle’s appearance. Automotive wrap films are also used to protect vehicle’s original paint from environmental hazards such as corrosion and dust. 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 purpose over than advertisements forms.
The market research study on “Automotive Wrap Films Market (By Film Type: Window Films, Wrap Films, Paint Protection Film; By Vehicle Type: Heavy Duty Vehicle, Medium Duty Vehicle, Light Duty Vehicle; By Application: Advertisement Purpose, Special Purpose) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global automotive wrap films market. The report also analyzes the key players operating in automotive wrap films market and identifies the key strategies deployed by them along with the market share of leading players.
The global automotive wrap films market is segmented as below:
Automotive Wrap Films Market by Film Type
Automotive Wrap Films Market by Vehicle Type
Automotive Wrap Films Market by Application
Automotive Wrap Films Market by Geography
Continuous demand for pre-owned car markets is the major driving factor for automotive wrap films market as automotive wrap films helps in the removal of scratches from old vehicles. In addition, the rise in consumer preference for paint protection also boosts the growth of global automotive wrap films market.
Moreover, the growth in the automotive graphic industry also augments the demand for 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 has been segmented based on film type, vehicle type, and application.Based on film type the market has been segmented as windows films, wrap films, paint protection films. On the basis of vehicle type, the market has been divided as medium duty vehicle, light duty vehicle, and heavy duty vehicle. Light duty vehicle accounted for the major share of automotive wrap films market in 2013 owing to the rise in demand for sports utility vehicles (SUVs), personal cars, and vans and personalized graphic on them. On the basis of application, the market for automotive wrap films have been bifurcated as advertisement purpose and special purpose.
Based on region, the automotive wrap film market has been segmented as North America, Europe, Asia Pacific, and rest of the world. North America was the largest revenue generator for global automotive wrap films market in 2013 owing to timely innovation coupled with 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 construction site is further project to boost the market in the region. Asia-Pacific is projected to be the most attractive market for the manufacturers of automotive wrap films throughout the forecast period due to the increase in preference for color-changing technology.
Some of the leading companies operating in the global automotive wrap films market 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.