Rising Popularity Of Camouflage Wraps Is Expected To Augment The Demand Of Automotive Wrap Films Market By 2030

Automotive Wrap Films Industry Overview

The global automotive wrap films market size is expected to reach USD 28.89 billion by 2030, registering a CAGR of 22.2%, according to a new report by Grand View Research, Inc. The rising global population and the increasing disposable income are expected to have a positive impact on the demand for automotive wrap films over the forecast period.

Automotive plastic wrap films are used for advertising, brand marketing, and the personalization of trucks, buses, and passenger cars. The flourishing global sign & graphics industry owing to the increasing demand for mobile advertising is expected to drive the application of these films. The lower cost of automotive wrap films than vehicle paints is also fueling the growth of the market.

Automotive Wrap Films Market Segmentation

Grand View Research has segmented the global automotive wrap films market based on application and region:

Based on the Application Insights, the market is segmented into Passenger Cars, Buses and trucks.

• The market has been segmented into passenger cars, buses, and trucks. In terms of revenue, passenger cars accounted for the largest revenue share of 53.81% in 2021. The segment is expected to maintain its dominant position owing to the reducing prices of car wraps and increasing customer preference for vehicle customization.
• The increased popularity of automotive wrap films and the availability of varied colors and textures have led to a rapid rise in demand for the personalization of cars. Spot graphics and lettering are also very popular among drivers for advertising as well as personalization.
• Advertisements through buses provide significant opportunities in developing regions, namely, Asia Pacific, Central & South America, and the Middle East & Africa with a large rural population as buses have high accessibility to rural areas.
• Some of the main factors driving the growth of the trucks segment of the market for automotive wrap films are flourishing industrial sectors in emerging economies and increasing demand from the logistics and construction sectors owing to surged construction activities taking place globally.

Automotive Wrap Films Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The cost of raw materials such as PVC along with plasticizers, pigments, fillers, processing aids, and certain additives, which are used to manufacture automotive wrap films is expected to play a significant role in determining the final price of the product. Additionally, strategic partnerships, acquisitions, and new product developments are the popular strategies adopted by a majority of the players operating in the market.

Some prominent players in the global automotive wrap films market include:

• Avery Dennison
• Arlon Graphics, LLC
• 3M
• Kay Premium Marking Films (KPMF)
• Ritrama S.p.A.
• Vvivid Vinyl
• Orafol Group
• Hexis S.A.
• Guangzhou Carbins Film Co., LTD
• JMR Graphics, Inc.

Order a free sample PDF of the in Automotive Wrap Films Market Intelligence Study, published by Grand View Research.

Automotive Wrap Films Market In-Depth Analysis and Industry Revenue Details

Global automotive wrap films market is estimated to grow at a significant CAGR of 12.35% over the forecast period as the scope and its applications are rising enormously across the globe. Automotive wrap films are designed for embellishing solid color vehicle detailing without any additional graphics protection. It also safeguards the original paint from corrosion and dust. The films offer outstanding opacity concerning high contrast surfaces and are resistant against petrol leakage and to all atmospheric impact.

The factors that are playing a major role in the growth of the market are growing demand for personalized cars, changing lifestyle, and rising demand for wrap advertising as it is cost-efficient and simple. However, rising competition in the automotive sector may restrain overall market growth in the years to come. Automotive wrap films market is segmented based on film type, vehicle type, application, and region.

Paint protection films, windows films, and automotive wrap films are the film types that could be explored in automotive wrap films in the forecast period. The automotive wrap films sector is estimated to grow at the fastest pace in the years to come as rising demand for mobile advertisement and are cost-efficient.

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Heavy commercial vehicles, medium-duty vehicles, light-duty vehicles, and the other vehicle types could be explored in automotive wrap films in the forecast period. Light-duty vehicles sector accounted for the substantial share of automotive wrap films market and is estimated to continue with its dominance in the years to come. The light-duty sector comprises passenger cars and light-duty trucks. It plays an important role in the promotion of medium and small business.

The market could be categorized based on applications like safety purpose, advertisement, and others that could be explored in automotive wrap films in the forecast period. Globally, North America accounted for the substantial market share of automotive wrap films and is estimated to lead the overall market in the years to come. The aspects that could be ascribed to the growth comprise the presence of developed automotive sector and high demand from consumers. The United States is a major consumer of automotive wrap films in this region.

Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The reason behind the overall market growth could be rising industrialization, growing automotive sector in emerging countries, and changing lifestyle. The developing countries like India and China are the major consumers of automotive wrap films in this region.

The key players of automotive wrap films market are Prestige Film Technologies, 3M Company, Nexfil Co, Ltd., Ads Window Films Limited, Madico, Inc., Arlon Graphics LLC, Kay Premium Marking Films Ltd., Avery Dennison Corporation, Hexis S.A., Eastman Chemical Company, Garware Polyester Limited, and Foliatec Bohm Gmbh & Co. Vertriebs Kg. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

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