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Global Automotive Wrap Films Market Report

RA08730

Global Automotive Wrap Films Market by Application Model (Truck, Buses, and Passenger Cars) and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032

RA08730

Pages: 374

Jun 2023

Automotive Wrap Films Overview

The automobile wrap films business is a thriving sector that involves wrapping the exteriors of vehicles using vinyl films. These films provide a variety of advantages, including color changing, personalization, paint protection, and advertising. Vehicle owners can select the kind that best meets their needs from alternatives such as cast vinyl, calendared vinyl, and specialty films. Automotive wrap films are used in a variety of applications. They are used for color changes, letting people personalize their automobiles without having to repaint them. Wraps are used by businesses for commercial branding and advertising, converting their cars into mobile billboards. Paint protection films (PPFs) are clear layers that preserve the original paint from scratches and chipping. Wrap films are used in motorsports for generating eye-catching visuals.

Global Automotive Wrap Films Market Analysis

The automotive wrap films market size was $5,812.76 million in 2022 and is predicted to grow with a CAGR of 15.6%, by generating a revenue of $22,467.22 million by 2032.

COVID-19 Impact on Global Automotive Wrap Films Market

The COVID-19 pandemic has had a significant impact on the automotive wrap films market. Initially, the market was disrupted by lockdowns, facility closures, and supply chain issues. As a result, the availability of automotive wrap films was reduced and deliveries were delayed. Furthermore, the drop in vehicle sales during the pandemic reduced demand for customization and modifications, affecting the demand for wrap films.

Certain types of wrap films, such as color change wraps and protective films, remained popular despite a shift in consumer preferences and increased time spent at home. Additionally, as online platforms became essential for product distribution, the growth of e-commerce opened up new market opportunities. The continued interest in vehicle customization helped to boost demand for wrap films as the automotive industry started to recover and restrictions started to loosen.

Growing Trend of Vehicle Customization to Drive Market Growth

Several key factors influence the automotive wrap film market. The desire for vehicle customization is an important factor. People enjoy personalizing their vehicles, and wrap films provide a low-cost way to change the look with different colors, patterns, and finishes. Another consideration is the use of wrap films for advertising and branding. Businesses transform their vehicles into moving billboards by wrapping them in eye-catching graphics and promotional messages. Furthermore, wrap films protect the vehicle's paint by shielding it from scratches and chips. This is becoming increasingly important for car owners who want to preserve the original paint and the resale value of their vehicle. Another motivator is the cost-effectiveness of wrap films, which are less expensive and faster than repainting.

The quality and longevity of wrap films have also improved thanks to technological advancements, increasing their appeal. Additionally, as environmental awareness has grown, eco-friendly wrap films have been created that are made of recyclable materials and employ less harmful adhesives. Finally, the demand for automotive wrap films is influenced by regional market trends like economic development and cultural preferences.

To know more about global automotive wrap films market drivers, get in touch with our analysts here.

High Cost to Restrain the Market Growth

High cost is a major factor that can restrain market growth. The growth of the automotive wrap films market may encounter some challenges. One of them is the high cost of wrap films in comparison to regular paint, which can be prohibitively expensive for some. Another issue is that the color options for wrap films are limited, as opposed to paint, which has more options. Installing wrap films is also a complicated process that necessitates the use of specialized tools and skills. Wrap films' durability is not perfect either, as they can be damaged over time due to factors such as weather and improper care. They also need to be replaced more frequently because they don't last as long as paint does. The number of people interested in wrap films may be limited by regulations that some companies or industries may have regarding advertising on vehicles. Furthermore, not everyone is aware of the advantages of wrap films or prefers the conventional appearance of painted cars. Despite these difficulties, the market for automotive wrap films is still expanding because new technology is improving the films' durability and increasing awareness of their benefits among consumers.

Advancements in Films Technology to Drive Excellent Opportunities

The market for automotive wrap films has a lot of room for expansion. People are interested in customizing their vehicles these days, and these films provide an inexpensive way for them to do so. There are also new and improved films being developed that are tougher and keep their color for longer periods of time. Businesses are also using these films to advertise on their vehicles, which is becoming more common, particularly with ridesharing services.

The market is also expanding as more people want to customize and protect their vehicles. And new markets are emerging in various parts of the world. Some companies are even producing environmentally friendly films, which is something that many people care about. As a result, there are numerous opportunities for the automotive wrap films market to thrive in the future.

To know more about automotive wrap films market opportunities, get in touch with our analysts here.

Global Automotive Wrap Films Market Share, by Application Model, 2022

The passenger car sub-segment accounted for the highest market share in 2022. Passenger cars have played a critical role in the market dominance of automotive wrap films. The demand for these films has been fueled by their widespread popularity, as well as the desire for personalization and the need for effective advertising. Car owners want their vehicles to stand out and reflect their personal style, and automotive wrap films are an affordable and versatile way to do so. Furthermore, businesses recognize the advertising potential of passenger cars, resulting in an increase in the use of vinyl wraps for promotional purposes. Furthermore, the protective benefits of these films, which protect the paintwork and maintain the car's value, have contributed to their popularity among car owners.

Technological advancements have also played an important role in making automotive wrap films easier to apply and more durable. All of these factors have combined to make passenger cars the driving force behind the dominance of automotive wrap films, allowing car owners to personalize, advertise, and protect their vehicles.

Global Automotive Wrap Films Market Size, by Region, 2022

The North America automotive wrap films market generated the highest revenue in 2022. The automotive wrap films market is dominated by North America for a number of reasons. First, there are many car manufacturers and many car owners in the region. North Americans have plenty of cash to spend on personalizing their cars, and because automotive wrap films are inexpensive and easily transform a car's appearance, they are a popular option. In North America, many people enjoy personalizing their vehicles and showcasing their sense of style. Businesses utilize automotive wrap films to advertise their goods and services on their fleets of vehicles. Last but not least, North America has a good distribution network, making it simple to locate and purchase automotive wrap films. While North America has dominated the market, other regions are also expanding in this sector.

Competitive Scenario in the Global Automotive Wrap Films Market

Investment and agreement are common strategies followed by major market players. One of the leading market players in the industry is KPMF. Kay Premium Marking Films (KPMF) has been manufacturing high quality self-adhesive vinyl films in South Wales, United Kingdom since 1991. KPMF is excited to bring wrap shops and installers worldwide a premium visualizer to assist with the promotion of KPMF products. The visualizer includes many features including several vehicles, different environments, and the ability to change the time of day and updates when the colors launch.

Some of the leading automotive wrap films market players are CORPORATION, Arlon Graphics LLC, KPMF, Fedrigoni S.P.A, Vvivid Vinyl, ORAFOL Europe GmbH, Hexix S.A.S., Guangzhou Carbins Film Co., Ltd., JMR Graphics, AVERY DENNISON, and 3M.

Aspect

Particulars

  Historical Market Estimations

  2020-2022

  Base Year for Market Estimation

  2022

  Forecast Timeline for Market Projection

  2023-2032

  Geographical Scope

  North America, Europe, Asia-Pacific, and LAMEA

  Segmentation by Application

  • Trucks
  • Buses
  • Passenger Cars

  Key Companies Profiled

  • AVERY DENNISON CORPORATION
  • Arlon Graphics LLC
  • 3M
  • KPMF
  • Fedrigoni S.P.A.
  • Vvivid Vinyl
  • ORAFOL Europe GmbH
  • Hexix S.A.S.
  • Guangzhou Carbins Film Co., Ltd.
  • JMR Graphics

Frequently Asked Questions
 

A. The size of the global automotive wrap films market was over $5,812.76 million in 2022 and is projected to reach $22,467.22 million by 2032.

A. KPMF, Fedrigoni S.P.A, are some of the key players in the global automotive wrap films market.

A. The North-America region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Agreement and investment are the two key strategies opted by the operating companies in this market.

A. KPMF and Fedrigoni S.P.A, are the companies investing more on R&D activities for developing new products and technologies.

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