Automotive Labels Market Outlook 2019 | Top Players 3M (U.S.), Avery Dennison Corporation (U.S), UPM-Kymmene Corporation (Finland), H.B. Fuller (U.S.), Sika AG (Switzerland), CCL Industries Inc. (Canada), Barry-Wehmiller Companies Inc. (U.S), Dunmore (U.S
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The major players in the Automotive Labels Market are 3M (U.S.), Avery Dennison Corporation (U.S), UPM-Kymmene Corporation (Finland), H.B. Fuller (U.S.), Sika AG (Switzerland), CCL Industries Inc. (Canada), Barry-Wehmiller Companies Inc. (U.S), Dunmore (U.S.), Lewis Labels Products Corp. (U.S), and Precision Contract Manufacturing (U.S).
The growing demand from automobile industry for RFID labels and mandatory compliance with automotive labeling laws are the main drivers for automotive labels market. Emerging countries and new product launches open up new opportunities for the market growth. The initial cost of manufacturing is more if manufactured in small quantities, hence the cost to profit ratio is a concern to small manufacturers.
Automotive Labels Market Outlook
Asia Pacific is the largest and estimated to be the fastest growing market due to burgeoning growth in the automobile industry, which has been driven by high automobile sales rate in India and China. According to China Association of Automobile Manufacturers (CAAM) and Society of Indian Automobile Manufacturers (SIAM), sales of cars in China stood at 28.03 million in 2016 and 3.00 million in India.
Europe is the second largest automobile labels market due to the well-developed public transportation sector. Cars, vans, trucks, and buses in the region are considered to be the quickest, safest, and cleanest in the world
North America is an emerging region in the automobile labels market. Demand for automobiles for heavy transportation has risen in the U.S. and Canada. A high preference for personal transportation in North America is expected to drive the automobile sector in the region.
Latin America is projected to augment market growth due to the need of personal transports and high disposable incomes. Argentina is the largest export market in Latin America, which is also affected by economic downturn like most other countries in Latin America.
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Automotive Labels Market Taxonomy
On the basis of end use, the automotive labels market is segmented into:
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