Automotive Wrap Films Market Forecasts to 2030 – Global Analysis By Film Type (Windows films, Wrap films, Paint protection films, Cast Films, Decorative Films, Calendered Films and Other Film Types), Vehicle Type (Passenger cars, Buses, Trucks, Commercial

Automotive Wrap Films Market Forecasts to 2030 – Global Analysis By Film Type (Windows films, Wrap films, Paint protection films, Cast Films, Decorative Films, Calendered Films and Other Film Types), Vehicle Type (Passenger cars, Buses, Trucks, Commercial vehicles, Light Duty Vehicles, Medium Duty Vehicles, Heavy commercial vehicles and Other Vehicle Types), Distribution Channel (Online, Offline and Other Distribution Channels), Application (Safety, Advertisement and Other Applications) and By GeographyAccording to Stratistics MRC, the Global Automotive Wrap Films Market is accounted for $6.97 billion in 2023 and is expected to reach $25.27 billion by 2030 growing at a CAGR of 20.2% during the forecast period. Automotive wrap film is a vinyl graphic that is directly applied over the factory paint of the vehicle. These films are primarily used to alter or enhance a vehicle's appearance and to shield the original paint from rust and dust. Automotive film wraps are also frequently used for advertising because they are less expensive than other types of advertising.

According to 3M Company, 3M car wrap films can last from 5 to 7 years for vertical applications. They are durable against UV rays, high temperatures and humidity.

Market Dynamics:

Driver:

More affordable

The global Automotive Wrap Films market expected to drive growth during the forecast period. In comparison to traditional painting, automotive wrap films are more reasonably priced, easier, and quicker to install, and they use less time and materials overall. Installation of automotive wrap films frequently requires less work than traditional painting, which can take several days and requires specialized equipment. For owners of cars, this means lower installation costs. A well-kept car wrap can aid in preserving a vehicle's market value. Over time, car owners may save money by allowing them to sell their vehicles for more money. However, without having to spend a sizable sum of money on a new paint job, car owners can change the color and appearance of their vehicles with automotive wrap film. Due to its adaptability, car owners can completely transform the appearance of their vehicles with affordable prices.

Restraint:

Change the rate of expenditure

The global Automotive Wrap Films market expected to hinder growth during the forecast period. Depending on the level of complexity and quality of the design, automotive wrap film costs may change. As a result, some customers might find it difficult to justify the price, especially if they only require a temporary solution. For instance, as the cost of the raw materials used to make vinyl films rises, the price of automobile wrap film may too, making it less affordable for consumers. If labor or transportation costs increase, the cost of car wrap film may also change.

Opportunity:

Increasing spending on advertising

The main market opportunity for automotive wrap films is represented by the sponsorships given to racing teams by companies from a variety of industries, including automotive OEMs, consumer goods, electrical and electronics, and other businesses. Moreover, the growing popularity of Formula 1, NASCAR, and other automotive events has businesses spending more on advertising at these occasions. Businesses invest in advertising by sponsoring a team or racer, and they use automotive wrap films to brand the vehicles with their logo.

Threat:

Cost of maintenance

The global Automotive Wrap Films market expected to hamper growth during the forecast period. It might be harder to maintain a car with an automotive wrap film than one with regular automotive paint. Over time, it might become necessary to perform routine cleanings, potential repairs, or reapply the wrap, which would increase the cost of ownership. It is simple to remove and replace them if they are damaged or if the owner wants to change the color or style of their car. However, this could be a less expensive alternative to repainting the entire car, which can be a time-consuming and expensive process.

Covid-19 Impact:

COVID-19 pandemic was spread across the globe in 2020. Paint and coating products have significantly increased the protection of consumer assets. The operations and industries of paint and coatings have been impacted by strict shutdowns. Due to the pandemic and widespread lockdowns, the domestic paint and coatings industry is suffering from a severe labor shortage of skilled and unskilled workers. Many of the workers had to go back to their hometowns as a result of the lockdown. Paint companies did not report any sales for the month of April. However, all substrates are protected by paint from microbial decay and natural weathering, extending the life, functionality, and safety of products and structures.

The advertising segment is expected to be the largest during the forecast period

The advertising segment is expected to be the largest share during the forecast period. This is because vehicle advertising and brand promotion are becoming more popular. Growth in the category will be significantly impacted by the increasing demand for customized vehicles and changing consumer lifestyles. Wrap advertisements are becoming more and more popular because they are useful and reasonably priced, which is contributing to the industry's quick industrial growth. In recent years, mobile advertising has developed into a potent and affordable marketing tactic. In order to maintain public safety and traffic order, police officers now use vehicle wrap films, also known as ghost vinyl.

The passenger cars segment is expected to have the highest CAGR during the forecast period

The passenger cars segment is anticipated to witness the fastest CAGR growth during the forecast period, due to rising disposable income and changing consumer lifestyles. Passenger cars include vans, pickup trucks, and SUVs with GWVR less than 10,000 lb. These falls into the class 1 and class 2 vehicle categories. Light-duty vehicle advertising was initially the main use for automotive wrap films. Moreover, the popularity of automotive wrap films and the availability of a wide variety of colors and textures have quickly increased demand for car customization.

Region with largest share:

During the forecast period, North America is anticipated to hold the largest market share for automotive wrap films worldwide. To reach a variety of audiences, advertising campaigns often use wrapped vehicles. Systems that track vehicles using GPS satellites provide detailed information about the vehicle and are used to evaluate the success of these campaigns. As a result, mobile advertising in the area makes extensive use of automotive wrap films. Additionally, the market for automotive wrap films is growing as a result of the early modernization and quick adoption of new technologies in North America, which has led to a high demand for customized cars.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period In Europe, paint-replacement or vehicle color-changing films are a relatively new trend. However, drivers prefer automotive wrap films over paint because of their low cost and superior performance. One of the applications for automotive wrap films that is expanding the fastest in Europe is changing the color of a vehicle. Businesses like Avery Dennison, Isee2, KPMF, Orafol, Hexis, and 3M have been developing a variety of colors and textures to meet the region's rising demand.

Key players in the market

Some of the key players in Automotive Wrap Films market include 3M Company, Ads Window Films Limited, Arlon Graphics LLC, Avery Dennison Corporation, AXEVINYL Industrial Co.,Ltd, Eastman Chemical Company, Fedrigoni S.P.A., Foliatec Bohm Gmbh & Co. Vertriebs Kg, Garware HI-Tech Films Limited, Guangzhou Carbins Film Co.LTD, HEXIS S.A.S., JMR Graphics, Inc., Kay Premium Marking Films Ltd., Lucent Graphic Solutions, Madico, Inc, Nexfil Co, Ltd., Orafol Group, Prestige Film Technologies, Ritrama S.p.A and Vvivid Vinyl Inc.

Key Developments:

In February 2023, according to Report Linker research, global market leaders, encompassing Hexis, Orafol, 3M, and Avery Dennison, are providing innovative products in response to ever-growing needs.

In July 2022, ORAFOL submitted other PVC-free films and laminates as substitutes to the standard range at the Berlin FESPA Global Print Expo 2022. Innovative and emerging new goods were specially developed for the high needs in the advertising and automotive fields.

In July 2020, a French firm formulated a thin-film solar cell that utilizes semiconductor mixtures from organic polymers printed on flexible films. The purpose is that it can be assembled on curved surfaces, which is not possible in standard solar panels.

Film Types Covered:
• Windows films
• Wrap films
• Paint protection films
• Cast Films
• Decorative Films
• Calendered Films
• Other Film Types

Vehicle Types Covered:
• Passenger cars
• Buses
• Trucks
• Commercial vehicles
• Light Duty Vehicles
• Medium Duty Vehicles
• Heavy commercial vehicles
• Other Vehicle Types

Distribution Channels Covered:
• Online
• Offline
• Other Distribution Channels

Applications Covered:
• Safety
• Advertisement
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements