Press release
Automotive Wrap Films Global Market will Exceed $15.51 Billion By 2028 with a Projected CAGR of 21.4% | APA Corporation, Fedrigoni SpA, Ritrama SpA, KDX America LLC, Hexis SA
Automotive Wrap Films Global Market
Automotive Wrap Films Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $15.51 billion In 2028 At A CAGR Of 21.4%.
The automotive wrap films market size has grown exponentially in recent years. It will grow from $5.78 billion in 2023 to $7.14 billion in 2024 at a compound annual growth rate (CAGR) of 23.5%. The growth in the historic period can be attributed to customization trends, paint protection demand, advertising and branding opportunities, growing vehicle fleet, ease of removal and replacement.
The automotive wrap films market size is expected to see exponential growth in the next few years. It will grow to $15.51 billion in 2028 at a compound annual growth rate (CAGR) of 21.4%. The growth in the forecast period can be attributed to diy installation culture, rise of motorsports and racing culture, rising digital printing sector,focus on color-shifting films, hydrophobic and self-healing films, increased adoption in commercial fleets. Major trends in the forecast period include advancements in film technologies, innovations in material science, sustainable and eco-friendly films, integration with ai.
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Automotive Wrap Films Market Major Segments
The automotive wrap films market covered in this report is segmented -
1) By Film Type: Windows Films, Wrap Films, Paint Protection Films
2) By Material: Cast Vinyl, Calendared Vinyl
3) By Application: Passenger Vehicle, Commercial Vehicle
Key Driver - Surging Luxury Vehicle Sales Propel Growth In The Automotive Wrap Films Market
An increase in the sales of luxury vehicles is significantly contributing to the growth of the automotive wrap films market going forward. 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. For instance, according to the January 2023 report released by Rolls Royce, a UK-based luxury vehicle manufacturer, the sales of Rolls Royce luxury cars increased by 7.7% from 5,586 in 2021 to 6,021 in 2022. Therefore, the increase in sales of luxury vehicles will drive the automotive wrap films market.
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Prominent Trend - Companies Launching Innovative Solutions To Redefine Speed And Efficiency In Automotive Wrap Solutions
Product innovation is the key trend gaining popularity in the automotive wrap films market. 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.
Automotive Wrap Films Market Players
Major companies operating in the automotive wrap films market report are 3M Co., APA Corporation, Avery Dennison Corporation, Fedrigoni SpA, Guangzhou Sino Group Ltd., Garware Hi-Tech Films Limited, Alphagraphics UK, Ritrama SpA, KDX America LLC, Hexis SA, Metamark UK Ltd., Spandex UK Ltd., Madico Inc., Signmaster Systems Ltd., FDC Graphic Films Inc., Ikonix USA, Arlon Graphics LLC, J&A International UK Ltd., Studio One Ltd., CMYUK Ltd., Kay Premium Marking Films Ltd., Vinyl Graphics Limited, Orafol Europe GmbH, Guangzhou Carbins Film Co. Ltd., Vehicle Wraps Inc., Portfolio Display Ltd., ADS Window Films Ltd., JMR Graphics Inc., Vvivid Vinyl Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the automotive wrap films market in 2023. The regions covered in the automotive wrap films market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Wrap Films Market Report Structure
3. Automotive Wrap Films Market Trends And Strategies
4. Automotive Wrap Films Market - Macro Economic Scenario
5. Automotive Wrap Films Market Size And Growth
…..
27. Automotive Wrap Films Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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