Market Overview
The
Global Automotive Wrap Films Market is expected to show a valuation of
USD 7.4 billion in 2023, and it is anticipated to experience significant growth at a
CAGR of 23.2% for the forecast period (2023-2032).
Automotive wrap films are premium vinyl sheets that are applied to the exterior of vehicles to enhance their look or safeguard the original paint. These films can also be utilized for the customization of the vehicle's interior, such as dashboards, door panels, & seats. Constructed by laminating multiple layers of vinyl material with pressure-sensitive adhesive, these films provide durability & flexibility. They have better qualities, resistant to grime, wear, dirt, scratches, & fading. They are very easy to clean as well. Present in several colors & finishes such as gloss, matte, carbon fiber, & metallic. These films can be easily applied & removed without causing any damage to the paint of automotive vehicles.
All these reasons support the expansion of the automotive wrap film sector worldwide. Moreover, the usage of automotive wraps is on the surge across several kinds of vehicles, like vans, taxis, boats, trucks, RVs, buses & trailers, in the United States. The expanding scope of automotive wrap films across various sectors & the rising trend of camouflage wraps is expected to further foster the desire for automotive wrap films for the forecast period. Customers are nowadays more inclined to adopt vehicle wraps as a way to protect their vehicle’s paint & add an appealing appearance to their vehicles. Moreover, the choices for colors like carbon fiber, matte black, & brushed aluminum have increased in the region. The shift in customers’ lifestyles in the United States is all set to play a vital role in driving the demand for such films & contributing to the growth of the market.
Market Dynamic
The Burgeoning trend of vehicle personalization is fueling the demand for automotive wrap films worldwide. As the population is rising, urbanization is accelerating, and individual income levels are increasing, costly vehicle sales rise, which significantly contributes to the growing acceptance of these films. Moreover, customers are becoming more aware of the advantages provided by these automotive wrap films, like cost-effectiveness, easy removal, resilience against UV rays, & environmental factors, which further foster the growth of the market.
The integration of CAD (computer-aided design) software & the 3D (three-dimensional) digital printing technology for better-quality graphics & logos also drives market expansion. Furthermore, these wrap films are being extensively utilized for campaign ads, positively affecting the market’s growth. Environmentally friendly automotive wrap films that enhance aerodynamics & reduce carbon footprints are also bolstering the market’s demand. Major market players are coming up with automotive wrap films with enhanced durability, & new designs, & vivid colors, to expand their customer base. Mergers, Collaborations, & acquisitions strategies are also adopted to improve their market position. Their position is getting prominence due to several factors such as color selection flexibility, paint preservation, & the ease of preventing complete makeovers of paint. Hence, the automotive wrap film sector is anticipated to observe remarkable expansion worldwide.
Research Scope and Analysis
By Application
Automotive wrap films have gained significant popularity as effective tools for ad purposes & for promoting brands on commercial vehicles. Over the years, the rising awareness & exposure provided by these wraps have led to a rise in demand, especially for heavy commercial vehicles. These wraps not only provide more visibility but also deliver a good return on investment for customers. The presence of large wrapping space on heavy commercial vehicles allows for the usage of several kinds of wraps, for example, partial wraps, full wraps, queen Kong wraps, King Kong wraps, partial ribbons, full ribbons, & back caps.
The segment of the truck dominates the automotive wrap films market with the maximum share in 2023. This dominance of the truck segment in the market can be credited to several factors. The well-developed industries in emerging nations & the growing desire from the construction & logistics departments have resulted in a rise in activities of construction worldwide. As a result, trucks are widely deployed for the purpose of transportation, serving as a perfect platform for the advertisement of these the simple process of applying and removing automotive wrap films provides flexibility in applying several graphics on trucks. This ease has provided several companies to advertise & promote their brands for their compact businesses, especially when compared to costly billboards. However, key players using these wrap films on heavy trucks must adhere to the regulations that necessitate writing the name of the company on each & every door of commercial vehicles.
The Global Automotive Wrap Films Market Report is segmented on the basis of the following:
By Application
- Passenger Cars
- Buses
- Trucks
Regional Analysis
North America dominates the automotive wrap films market, with a maximum
share of 37.3% in 2023. The dominance of this region can be accredited to the efficient monitoring of advertising campaigns through advanced satellite tracking technology, offering in-depth insights into vehicle activities. This has resulted in the widespread usage of automotive wrap films for vehicular ads in the region.
The rising desire for color wraps, especially in matte orange & matte black, is expected to be a major driver for the automotive wrap films market for the period 2023-2032. Weighted automobiles like buses & large vans used for the purpose of tourism mostly involve wrap films for promotional purposes. Moreover, the requirement to safeguard the real paint of vehicles for a longer duration further fuels the demand for automotive wrap films in the region. North America is home to various prominent market players, including Avery Dennison, 3M Company, Nissan, JMR Graphics, Skinz Wrap & Ritrama Moreover, the presence of numerous local players providing services of manufacturing & installation of these films leads to the growth of the market.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
In the global automotive wrap films market, companies are placing significant emphasis on expanding their presence worldwide to drive revenue growth and increase their market shares. To achieve this, these companies are implementing various strategic initiatives, including expanding their applications, conducting research and development activities, and engaging in acquisitions and mergers.
A noteworthy example of this trend is seen in March 2023, when Hexis S.A.S, a key player in the market, acquired Stickittome Australia Pty Ltd, a distributor-partner of Hexis S.A.S. This strategic acquisition is expected to reinforce the company's market position and enable it to extend its customer base in the Australian market. Despite such strategic moves by individual companies, the global market remains notably fragmented due to the presence of a large number of manufacturers operating across different regions of the world. As companies continue to pursue expansion opportunities, the automotive wrap films market is likely to witness further growth and competition in the coming years.
Some of the prominent players in the Global Automotive Wrap Films Market are:
- HEXIS S.A.S
- VViViD Vinyl Inc.
- Avery Dennison Corporation
- Arlon Graphics, LLC
- 3M Company
- Kay Premium Making Films Ltd.
- JMR Graphics
- Gareware Hi-Tech Films Limited.
- Eastman Chemical Company
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Automotive Wrap Films Market:
The COVID-19 pandemic and the subsequent economic recession have had a significant impact on the global automotive wrap films market. The pandemic led to widespread disruptions in supply chains, manufacturing operations, and distribution networks, resulting in a slowdown in market growth. With lockdowns and restrictions on mobility, the demand for advertising and marketing services, which are major drivers for the adoption of automotive wrap films, experienced a decline. Moreover, the economic uncertainties during the recession led to budget cuts and reduced spending on non-essential marketing activities, further affecting the demand for automotive wrap films. However, as the world gradually recovers from the pandemic and economic conditions stabilize, the market is expected to witness a gradual resurgence, driven by the rebound in advertising and marketing activities across various industries.
| Report Characteristics |
| Market Size (2023) |
USD 7.4 Bn |
| Forecast Value (2032) |
USD 48.7 Bn |
| CAGR (2023-2032) |
23.2% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Application (Passenger Cars, Buses, and Trucks). |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
HEXIS S.A.S, VVivid Vinyl Inc., Avery Dennison
Corporation, Arlon Graphics, LLC, 3M Company, Kay
Premium Making Films Ltd., JMR Graphics, Gareware
Hi-Tech Films Limited, Eastman Chemical Company
and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Automotive Wrap Films Market is expected to show a valuation of USD 7.4 billion in 2023.
The Global Automotive Wrap Films Market is expected to grow at 23.2% (CAGR) from 2023-2032.
North America dominates the Global Automotive Wrap Films Market, accounting for a significant market
share of over 37.3% in 2023.
Some of the prominent players in the Global Automotive Wrap Films Market include HEXIS S.A.S, VVivid
Vinyl Inc., Avery Dennison Corporation, Arlon Graphics, LLC, 3M Company, Kay Premium Making Films
Ltd., etc.