The global automotive wrap films market size reached US$ 6.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.0 Billion by 2028, exhibiting a growth rate (CAGR) of 21.01% during 2023-2028. The increasing sales of luxury vehicles, rising integration of advanced technologies, and the growing focus on collaboration and mergers and acquisitions (M&A) represent some of the key factors driving the market.
Automotive wrap films are high quality vinyl sheets applied to the exterior of vehicles to change their appearance or protect the paint. They are also used to customize the interior of the vehicle, such as door panels, dashboards, and seats. They are made by laminating multiple layers of vinyl material with pressure sensitive adhesive to make them flexible and durable. They are easy to clean and resistant to wear, scratches, dirt, grime, and fading. They are commonly available in various colors and finishes, such as matte, gloss, metallic, and carbon fiber, which can be easily applied and removed without damaging the original paint. At present, the emerging trend of personalizing the vehicle is catalyzing the demand for automotive wrap films across the globe.
Automotive Wrap Films Market Trends:
There is an increase in the sales of luxury vehicles on account of the rising global population, rapid urbanization, and inflating income levels of individuals. This, coupled with considerable improvements in the automotive infrastructure, represents one of the key factors driving the demand for automotive wrap films around the world. Moreover, the rising awareness about the benefits of using automotive wrap films in vehicles, such as easy removal, affordability, durability, and resistance to damage from ultraviolet (UV) rays, weather, and other environmental factors, is favoring the growth of the market. In addition, there is an increase in the integration of computer aided design (CAD) software to create custom wrap films. This, along with the advent of third dimensional (3D) digital printing technology to produce wrap films with high quality images, graphics, and logos, is contributing to the market growth. Apart from this, the growing use of automotive wrap films on vehicles for various advertising campaigns of brands is influencing the market positively. Furthermore, the advent of eco-friendly automotive wrap films to improve the aerodynamics and minimize carbon footprints is bolstering the growth of the market. Besides this, key players are launching automotive wrap films with improved durability and enhanced color depth and comfort in innovative colors and designs to expand their consumer base. They are also focusing on collaboration and mergers and acquisitions (M&A) to expand their market position.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global automotive wrap films market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on film type and vehicle type.
Film Type Insights:
- Windows Films
- Wrap Films
- Paint Protection Films
The report has provided a detailed breakup and analysis of the automotive wrap films market based on the film type. This includes windows films, wrap films, and paint protection films. According to the report, windows films represented the largest segment.
Vehicle Type Insights:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
A detailed breakup and analysis of the automotive wrap films market based on the vehicle type has also been provided in the report. This includes passenger cars, light commercial vehicles, and heavy commercial vehicles. According to the report, light commercial vehicles accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for automotive wrap films. Some of the factors driving the North America automotive wrap films market included increased sales of luxury vehicles, rising mergers and acquisitions, product innovations, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global automotive wrap films market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 3M Company, Arlon Graphics LLC (Flexcon Company Inc.), Avery Dennison Corporation, Hexis S.A.S, Kay Premium Marking Films Ltd., Madico Inc. (LINTEC Corporation), ORAFOL Europe GmbH, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Film Types Covered
||Windows Films, Wrap Films, Paint Protection Films
|Vehicle Types Covered
||Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||3M Company, Arlon Graphics LLC (Flexcon Company Inc.), Avery Dennison Corporation, Hexis S.A.S, Kay Premium Marking Films Ltd., Madico Inc. (LINTEC Corporation), ORAFOL Europe GmbH, etc.
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Key Questions Answered in This Report:
- How has the global automotive wrap films market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global automotive wrap films market?
- What is the impact of each driver, restraint, and opportunity on the global automotive wrap films market?
- What are the key regional markets?
- Which countries represent the most attractive automotive wrap films market?
- What is the breakup of the market based on the film type?
- Which is the most attractive film type in the automotive wrap films market?
- What is the breakup of the market based on the vehicle type?
- Which is the most attractive vehicle type in the automotive wrap films market?
- What is the competitive structure of the global automotive wrap films market?
- Who are the key players/companies in the global automotive wrap films market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the automotive wrap films market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global automotive wrap films market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the automotive wrap films industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.