Automotive Wrap Films Market to Expand at 22.2% CAGR from 2022-2030

Posted on 2022-05-26 by researchinsights in Automotive // 0 Comments

San Francisco, California , USA, May 27, 2022 — /EPR Network/ —

Automotive Wrap Films Industry Overview

The global automotive wrap films market size was valued at USD 4.76 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 22.2% from 2022 to 2030.

The rising global population and the increasing disposable income globally are expected to positively impact the demand over the forecast period. The passenger vehicles segment accounted for the largest market share in 2021 owing to the surging demand for customized graphics among consumers to give a personalized touch to their vehicles. This, in turn, is anticipated to contribute to a rise in the consumption of automotive wrap films.

The U.S. emerged as the largest automotive wrap films market in North America in 2021. Automotive wraps are increasingly being used for application on taxis, vans, trucks, boats, RVs, trailers, and buses in the U.S. Factors such as the increasing number of automotive vehicle production and the rising popularity of camouflage wraps are expected to augment the demand in the forthcoming years.

Gather more insights about the market drivers, restrains and growth of the Global Automotive Wrap Films market

According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), the number of motor vehicles produced in the U.S. was 10.8 million units in 2019, which decreased to 8.82 million units in 2020. As per OICA, light-vehicle sales in the U.S. are expected to reach about 15.5 million units in 2022, rising by 2.7% compared to the previous year. The lifting of the lockdown and resumption of operations is expected to propel the demand for motor vehicle manufacturing as well as automotive wrap films. The presence of several key automotive wrap film manufacturers in the country is expected to augment market growth in the forthcoming years.

According to the Government of India, automotive color or texture wraps, which change the color of original vehicles, have to be registered with the Regional Transport Office of the country before their application to automobiles. The law is registered under section 52 of the Central Motor Vehicle Rules. Thus, in India, post-sales color wrapping of vehicles requires adherence to a number of laws that restrict the growth of the market in the country.

The COVID-19 outbreak across the globe severely affected the manufacturing industries, which, in turn, impacted the growth of the market in 2020. With the spread of COVID-19, work-from-home-rules, order cancellations, and shipping complications also surged throughout the plastics industry. The lifting of lockdowns and recommencing of operations while complying with the COVID-19 guidelines published by various governments across the globe is projected to fuel the demand for automotive wrap films in near future.

Browse through Grand View Research’s Paints, Coatings & Printing Inks Industry Research Reports.

Conformal Coatings Market – The global conformal coatings market size was valued at USD 930.89 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030.
Zinc Oxide Market – The global zinc oxide market size was valued at USD 4.43 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.9% from 2022 to 2030.

Automotive Wrap Films Market Segmentation

Grand View Research has segmented the global automotive wrap films market based on Application, and region:

Automotive Wrap Films Application Outlook (Revenue, USD Million, 2019 – 2030)
- Passenger Cars
- Busses
- Trucks
Automotive Wrap Films Regional Outlook (Revenue, USD Million, 2019 – 2030)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Market Share Insights

June 2021: The global manufacturer of custom coatings and chrome paints, the Alsa Corporation, is now entering the market for films, in particular, automotive wrap films. These car wraps can withstand scratches of keys or other sharp objects.
April 2021: 3M, an American multinational conglomerate corporation, announced the launch of its latest long-lasting protective finish for automotive glass, wheels, plastic trim, metal, and paint, 3M Ceramic Coating. The latest durable product provides the benefits consumers expect and is engineered to allow shops to enter this personal auto market developing segment.

Key Companies profiled:

Some prominent players in the global automotive wrap films market include

Avery Dennison
Arlon Graphics, LLC
3M
Kay Premium Marking Films (KPMF)
Ritrama S.p.A.
Vvivid Vinyl
Orafol Group
Hexis S.A.
Guangzhou Carbins Film Co., LTD
JMR Graphics, Inc.

Order a free sample PDF of the Automotive Wrap Films Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Matched content

Editor’s pick