Automotive Wrap Films Market Size, Share & Trends Analysis Report By Application (Trucks, Buses, Passengers Cars), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2024 - 2030

Automotive Wrap Films Market Size, Share & Trends Analysis Report By Application (Trucks, Buses, Passengers Cars), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2024 - 2030

Automotive Wrap Films Market Growth & Trends

The global automotive wrap films market size is anticipated to reach USD 28.89 billion by 2030 and is anticipated to expand at a CAGR of 22.1% during the forecast period, according to a new report by Grand View Research, Inc. The benefits provided by automotive wrap films in the form of preserving vehicle paints, allowing flexibility in color selection, and eliminating the requirement for a complete paint makeover, thus fueling the growth of the automotive wrap films market across the globe.

Furthermore, the surging global demand for low-cost mobile advertising using vehicles wrapped with films is significantly driving the growth of automotive wrap films market. The cost saving offered by automotive wrap films used in passenger cars compared to paints that are applied is expected to boost the demand for the product in the industry. The lifespan of automotive wrap films is longer than low-quality vehicle paints. Moreover, these films result in low maintenance costs for vehicles.

Moreover, the main driver for the growth of automotive wrap films lies with the sponsorships provided by the automotive manufacturers operating in a wide range of industries such as automotive OEMs, consumer goods, electrical & electronics, and various others to racing teams. The rising trend of consumer interest in automotive racing events, Formula 1 events, and various other automotive events are encouraging companies to invest in advertising in these events. The companies are investing in advertising through sponsoring a team or a racer and the company trademark is imprinted on the vehicles using automotive wrap films.

Automotive Wrap Films Market Report Highlights

• Passenger cars dominated the application segment with more than 55.0% share in 2023. Passenger cars include vans, pickups, and SUVs with GWVR less than 10,000 lb. These are classified under class 1 and class 2 vehicles. The increased popularity of automotive wrap films and the availability of varied colors and textures have led to fast growth in demand for the personalization of cars
• Advertisements through buses provide significant opportunities for wrap films in developing regions, namely, Asia Pacific, Central & South America, and the Middle East & Africa with large rural population bases as buses have high accessibility to rural areas. Moreover, with increasing infrastructure development requirements for medium-duty vehicles in the region, the market for automotive wrap films is anticipated to grow in the coming years
• North America dominated the Automotive Wrap Films Market. Early modernization of North America coupled with the high adoption rate of new technologies in the region has led to the high demand for car personalization, ultimately leading to the growth of the automotive wrap films market
• In March 2023, Hexis S.A.S announced the acquisition of Stickittome Australia Pty Ltd, a distributor partner of Hexis S.A.S. With this acquisition, the company is expected to strengthen its market position and expand its customer base in the Australian market

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