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Automotive Wrap Films Market Size, Share, Growth, Trends And Forecast 2023-2032
Automotive Wrap Films Market Report
The Business Research Company's Automotive Wrap Films Global Market Report 2023 identifies An increase in the sales of luxury vehicles as the major driver for the automotive wrap films market's growth in the forecast period. Luxury vehicles refer to vehicles that provide increased levels of performance, status, comfort, and quality compared to regular vehicles for an increased price. Automotive wrap films such as paint protection films cover the surfaces of luxury cars to protect the luxury vehicle from scratches, strains, and fading caused by external factors such as debris, rocks, sand, acid rains, and other elements. Automotive wrap films increase the longevity of luxury vehicles' exterior finish, which is crucial for their luxury status and maintenance.
The global automotive wrap films market is expected to grow from $4.66 billion in 2022 to $5.78 billion in 2023 at a compound annual growth rate (CAGR) of 23.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive wrap films market is expected to reach $12.84 billion in 2027 at a CAGR of 22.1%.
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Major competitors in the automotive wrap films market are 3M Co., APA Corporation, Avery Dennison Corporation, Fedrigoni SpA, Guangzhou Sino Group Ltd.
A key trend in the automotive wrap films market includes product innovation. Major companies operating in the automotive wrap films market are focusing on improving the usability and longevity of their automotive wrap film offerings. For instance, in April 2022, 3M Company, a US-based industrial conglomerate, launched 3M Print Wrap Film IJ280, a new innovative vehicle wrap film. The new 3M Print Wrap Film IJ280 is designed to be installed faster than regular automotive wrap films and requires less rework. 3M Print Wrap Film IJ280 can be installed 20 % faster than traditional automotive wrap films, offering two times more lifting resistance.
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The automotive wrap films market is segmented -
•By Film Type: Windows Films, Wrap Films, Paint Protection Films
•By Material: Cast Vinyl, Calendared Vinyl
•By Application: Passenger Vehicle, Commercial Vehicle
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the automotive wrap films market.
The Business Research Company's "Global Automotive Wrap Films Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Wrap Films Market Include:
1. Executive Summary
2. Automotive Wrap Films Market Characteristics
3. Automotive Wrap Films Market Trends And Strategies
4. Automotive Wrap Films Market - Macro Economic Scenario
5. Global Automotive Wrap Films Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global Automotive Wrap Films Market Competitive Benchmarking
33. Global Automotive Wrap Films Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Wrap Films Market
35. Automotive Wrap Films Market Future Outlook and Potential Analysis
36. Appendix
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