07-Feb-2020 | Facts and Factors
Facts and Factors have authored “Automotive Wrap Films Market By Type (PET, PVC, and Vinyl Resin) and By Application (Heavy Duty Vehicles, Light Duty Vehicles, and Medium Duty Vehicles): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026”. Based on our analysis, the global Automotive Wrap Films Market in 2019 is approximately USD 3,300 and is anticipated to reach around USD 11,200 Million by 2026. The anticipated CAGR for the automotive wrap films market is around 22% from 2020 to 2026.
Automotive wrap films are durable, removable, dual cast films that are intended for the decoration of solid color passenger vehicle, full wraps, which provides outstanding opacity. Automotive wrap films are usually made up of various resins such as PVC, PET, and vinyl resins and are applied directly to the original paint of the vehicle. Moreover, these wrap films are commonly used for advertising purpose as it is cost-effective than another form of advertising.
Browse the full “Automotive Wrap Films Market By Type (PET, PVC, and Vinyl Resin) and By Application (Heavy Duty Vehicles, Light Duty Vehicles, and Medium Duty Vehicles): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026” report at https://www.fnfresearch.com/automotive-wrap-films-market
The growing number of vehicles across the globe is one of the major factors driving the global automotive wrap film market. To enhance the aesthetic appearance of the vehicles the public is widely using wrap films. Additionally, the increase in usage of wrap films for advertisement purposes is also projected to enhance the consumption of automotive wrap films, thereby, propelling market growth. Moreover, the high utilization of wrap films in automotive & advertising sectors as it protects the original paint job from chips and wears and is eye-catchy is further expected to accelerate the global automotive wrap films market. However, technical complexity associated with the installation of films is predicted to hamper automotive wrap film market growth over the forecast timeframe. In addition to this, high VOC emissions caused by solvent-based adhesives are also likely to hamper market growth. Growing participation in international rally and road racing events is expected to increase demand for automotive wrap films to showcase cars that are expected to provide potential growth opportunities for industry growth in the upcoming years.
In 2019, vinyl resin dominated the global automotive wrap film market and is expected to be the fastest-growing category in the forecast period. Due to versatile properties of vinyl resins such as mechanical resistance, chemical resistance, and heat resistance it is widely used resin for automotive wrap films. Based on the application, the light-duty vehicles category dominated the market and is projected to grow at the fastest pace in the future. Surging demand for colorful graphics for Sports Utility Vehicles (SUVs), personal cars, and vans are expected to propel the demand for the automotive wrap films in this segment during the forecast period.
Geographically, in 2019, North America dominated the global automotive wrap film market. Rising adoption of new technologies in North America has boosted the demand for personalized vehicles, thereby, increasing the application of automotive wrap films. Moreover, growing awareness about the safety and implementation of fire protection systems in buildings is projected to escalate the regional market in the future as well. Additionally, the Asia Pacific is expected to grow at the fastest rate with the rising disposable income levels and changing lifestyle coupled with the growing popularity of colored vehicles in the region. Therefore, these factors are estimated to augment the growth of the global automotive wrap films market.
The major participants operating in the global automotive wrap films market are Vvivid Vinyl, Orafol Group, 3M, Hexis, Guangzhou Carbins Film, Avery Dennison Corporation, JMR Graphics, Ritrama S.p.A., Kay Premium Marking Films, and Arlon Graphics among others.
This report segments the Automotive Wrap Films market as follows:
Global Automotive Wrap Films Market: By Type Segment Analysis
Global Automotive Wrap Films Market: By Application Segment Analysis
- Heavy Duty Vehicles
- Light Duty Vehicles
- Medium Duty Vehicles
Global Automotive Wrap Films Market: Regional Segment Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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