Automotive Wrap Film Market Insights:
The global automotive wrap film market is projected to be worth more than USD 12 billion by 2025. The increasing demand for personalized cars is anticipated to have a substantial impact on the automotive wrap film market.
Different methods including complete wrap, window graphics, half wrap, lettering, and spot graphics are widely used for wrapping vehicles according to customer’s requirements. Automotive wrap film market is characterized by the existence of a large number of suppliers and installers across the value chain.
The Automotive wrap film market is likely to witness a significant growth rate over the forecast period due to its simple mechanism and cost-effectiveness. Increase in the numbers of sign & graphics industry coupled with low cost is expected to boost the automotive wrap film market growth over the forecast period.
Automotive Wrap Film Market - Application Insights:
On the basis of application, the automotive wrap film market is segmented into heavy-duty vehicles, medium-duty vehicles, and light-duty vehicles. Heavy-duty vehicles segment is anticipated to grow at a CAGR of more than 15% over the forecast period. Mobile billboards used by heavy-duty vehicle films are gaining a lot of importance due to its higher return.
Light duty vehicles commanded the global market for automotive wrap films and reported more than 50 % of global market revenue in 2016. Increasing demand for customized graphics of the cars along with growing opportunities for drivers to earn money through advertisements is anticipated to accelerate demand for the product in light-duty vehicles.
Automotive Wrap Film Market - Regional Insights:
North America dominated the automotive wrap film market in 2016 due to increased adoption of the product coupled with high consumers’ willingness to pay. Advanced printing technologies along with the presence of a large number of competitors are likely to propel the regional growth over the forecast period. Increasing demand for colored wraps in North America is likely to drive demand for the automotive films industry over the coming years.
Asia Pacific market is expected to experience the fastest growth in the global automotive wrap film market due to comparatively lower cost of the products. Growing inclination of consumers towards color change and paint protection films is likely to stimulate demand for automotive wrap films over the forecast period. Low maintenance cost of vehicles along with proper resale value is anticipated to aid the industry growth.
The automotive wrap film market in Central & South America is anticipated to experience steady growth rate over the coming years due to poor road infrastructure and lack of awareness among the consumers.
Brazil has proved to be one of the fastest growing economies in Central & South America, due to the increased number of manufacturing and service sector. Modernization coupled with growing investments in this country is anticipated to aid the automotive wrap film market over the forecast period.
Automotive Wrap Film Market: End-Use Landscape
The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from the global automotive wrap film market. The major consumers of the product are Honda Motor, Fiat-Chrysler, and Ford Motor.
Automotive Wrap Film Market: Competitive Landscape
Key companies operating in the automotive wrap film market are Avery Dennison Corporation, Arlon Graphics, LLC, JMR Graphics Inc., Guangzhou Carbins Film Co., LTD, Hexis S.A., The 3M Company, Orafol Group, Kay Premium Marking Films, Ritrama S.p.A., Prestige Film Technologies, Nexfil Co, Ltd., and Vvivid Vinyl.