Automotive Wrap Films Market Size Worth USD 45.31 Billion in 2032 | Emergen Research
Rising demand for vehicle personalization is one of the major factors driving automotive wrap films market revenue growth
Vancouver, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The global automotive wrap films market size was USD 6.21 Billion in 2022 and is expected to register a revenue CAGR of 21.9% during the forecast period, according to latest analysis by Emergen Research. Rising demand for vehicle personalization, advancements in material technology in the automotive sector such as high-quality vinyl films, as well as growing popularity of digital printing are some of the major factors driving revenue growth of the automotive wrap films market.
Automotive vinyl wrap films can be used to completely wrap entire vehicles or to merely partially cover the most visible areas, such as the doors, hood, and trunk. Major companies already offer state-of-the-art car wrap portfolios that create a wide range of distinctive effects and graphic finishes by using digital wrapping film for delicate, subtle hues and powerful, brilliant colors, which is contributing to revenue growth of the automotive wrap films market. Over the last ten years, the development of new textured and effect finishes has rendered automobile wraps more creative and versatile than ever by using the most recent advances in automobile wrap film innovation such as color-changing and self-healing customized wraps, which is driving revenue growth of the market.
Major market companies are also concentrating on sustainability by creating environmentally friendly bio-based or recycled wrap films for different automobiles, mostly cars, which is a considerably rising demand for this industry. A few large corporations are now adopting digital printing for vehicle wrap design customization. Rising demand for car customization is one of the major factors driving revenue growth of the market. Since unusual designs are now commonly featured in movies and television, popularity of vehicle customization is increasing significantly. Many people also view car customization as a status symbol. Many businesses offer customers the restyling studio options on their websites to create their designs by choosing from several colors, covering types, and finishes. Few companies, including Aurora Graphics, provide customers with tools such as Design Studio for making web design widgets tailored to their specific requirements.
One of the major factors restraining revenue growth of the market is concerns surrounding complexity of such techniques as well as high cost of maintenance. Depending on car size, style of the wrap, and time required to cover the vehicle, price of vehicle wrapping can range from USD 1,500 to 5,000. The upfront expense of working with a reputable digital printing provider to create and apply the graphic is high. Furthermore, since user data is frequently stored for model training in Artificial Intelligence (AI), privacy is another major concern. Such factors are restraining revenue growth of the market.
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*Automotive Wrap Films Report Summary *
*Report Details* *Outcome*
Market size in 2022 USD 6.21 Billion
Volume Units in 2022 XX Units
CAGR (2023–2032) 21.9%
Revenue forecast to 2032 USD 45.31 Billion
Base year for estimation 2022
Historical data 2019-2021
Forecast period 2023–2032
Quantitative units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Product type, application, vehicle type, wrap type, and region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled AVERY DENNISON CORPORATION, 3M, HEXIS S.A.S..., RENOLIT SE.., Arlon Graphics, LLC.., ORAFOL Europe GmbH.., ROBOKITS INDIA, KAY PREMIUM MARKING FILMS LTD.., Fedrigoni S.P.A..., and Tesla, Covestro AG, Eastman Performance Films, LLC, PHANTOM AUTOS, AXEVINYL, FOLIATEX Böhm GmbH & Co. Vertriebs-KG, NEXFIL Co. Ltd., HP Development Company, L.P., Madico, Inc., Prestige Films, and Saint-Gobain
Customization scope 10 hours of free customization and expert consultation
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*Automotive Wrap Films Top Companies and Competitive Landscape *
The global automotive wrap films market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective automotive wrap film solutions.
*Some major players included in the global automotive wrap films market report are:*
· AVERY DENNISON CORPORATION
· 3M
· HEXIS S.A.S.
· RENOLIT SE.
· Arlon Graphics, LLC.
· ORAFOL Europe GmbH.
· Lucent Graphic Solutions.
· KAY PREMIUM MARKING FILMS LTD.
· Fedrigoni S.P.A.
· Tesla.
· Covestro AG
· Eastman Performance Films, LLC
· PHANTOM AUTOS
· AXEVINYL
· FOLIATEX Böhm GmbH & Co. Vertriebs-KG
· NEXFIL Co. Ltd.
· HP Development Company, L.P.
· Madico, Inc.
· Prestige Films
· Saint-Gobain
*Automotive Wrap Films Latest Industry News *
· On 11 October 2023, Tesla announced the launch and distribution of premium color wraps for the Model 3 and Model Y through its online store and smartphone app.
· Owners of the Model 3 and Model Y now have the choice to choose one of seven colors for their electric vehicles from the Tesla U.S. store, however only as a vinyl wrap rather than a true paint. The wraps are composed of a self-healing urethane-based film, which suggests that the method is more like putting a Paint Protection Film (PPF) than merely a coating of vinyl because it shields the paint underneath from scratching, scratches, and swirls.
· On 10 August 2023, Bayou Graphics, a Houston, TX-based company, announced the launch of Houston car wrapping services for visual advertising reasons. Companies in the city are increasingly using car wraps as an inexpensive and powerful form of advertising due to their appealing aesthetics and wide audience.
· On 30 March 2021, Avery Dennison Graphics Solutions announced the release of twelve new colors in its Rugged Range and Sleek Satin collections of its newly improved Supreme Wrapping Film. Supreme Wrapping Film, the company's top line of car wraps, has undergone tremendous advancement in both formulation and manufacturing. Avery Dennison is announcing its enhanced performance with greater environmental resilience and enhanced durability following extensive testing and assessment of the environmental conditions in Australia and New Zealand. To reflect their longevity, the warranties for gloss, satin, and extreme texture films have been enhanced by up to 300%.
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*Some Key Highlights from the Report*
· The cast films accounted for largest revenue share in 2022. Major automakers cover their automobiles with premium cast films because they are thinner, more resilient, and more long-lasting. Cast films are best for long-term car wrapping because, in contrast to other types, they never shrink or bubble at the edges. These cast films have strong protective qualities, are long-lasting (between 5 and 7 years), and are simple to apply and take off. Cast vinyl is a premium substance that is light, strong, and long-lasting. Cast vinyl is a great material for car wraps since it can be removed, saving you money on repainting whenever fresh branding or advertising is required. Currently, major market players including 3M and Avery Dennison are manufacturing cast vinyl film of the highest quality for thrilling car wraps with a paint-like finish in a range of colors as well as the newest digital Supercast wrap films to fulfill present vehicle graphic requirements, which contributes to revenue growth of this segment.
· The advertising segment accounted for a significantly large revenue in 2022. Vinyl car wrap advertising is a low-cost solution to promote your company from anywhere on the road. In contrast to billboards and other outdoor displays, which need to rent expensive ad space for a brief period of time, vinyl wraps are an upfront expense that can yield long-term advantages including the simplicity of targeting consumers in various areas. The benefits of vinyl wrapping a car are just as impressive as a striking paint job, but the cost is significantly lower. In addition, there are more aesthetic and finishing options with car wrapping. Many automobile wrap companies, including Pixel Wraps, have streamlined their processes in recent years. These are major factors that are contributing to revenue growth of this segment.
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*Emergen Research has segmented the global automotive wrap films market on the basis of product type, application, vehicle type, wrap type, and region:*
· *Product Type Outlook (**Revenue in USD Billion & Volume in Thousand Units**; 2019-2032**)*
· · Cast Films
1. Standard cast film
2. Premium cast film
· Calendared Films
1. Monomeric
2. Polymeric
· *Application Outlook (**Revenue in USD Billion & Volume in Thousand Units; 2019-2032**)*
· · Paint Protection
· Advertising
· Personalization & Customization
· Racing & Motorsport Car Graphics
· Others
· *Vehicle Type Outlook (**Revenue in USD Billion & Volume in Thousand Units; 2019-2032**)*
· · Light-duty Vehicles
1. Passenger Cars
2. SUVs
3. Vans
· Medium-duty Vehicles
1. Trucks
2. Buses
· Heavy-duty Vehicles
1. Trailers
· *Wrap Type Outlook (**Revenue in USD Billion & Volume in Thousand Units; 2019-2032**)*
· · Accent Wrap
· Full Wraps
Partial Wrap
· *Regional Outlook (Revenue, USD Billion; 2019-2032)*
· North America
1. U.S.
2. Canada
3. Mexico
· Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
· Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
· Latin America
1. Brazil
2. Rest of LATAM
· Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA
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