Automotive Wrap Film Market would exhibit the highest CAGR of 22.4% during 2021-2027

Automotive Wrap Film Market is projected to be worth USD 4 Billion by 2027, registering a CAGR of 22.4% during the forecast period (2020 – 2027).

The advertising industry is rapidly using car wraps. One of the most important ways to broaden a company’s customer base and boost brand recognition is via advertising. Brand awareness is boosted when a company’s name is displayed on moving vehicles. One of the most effective ways to raise consumer awareness of a brand and stimulate company expansion is through out-of-home (OOH) advertising, which includes fleet advertising. Wraps for vehicles that use loud colors and large fonts to convey messages or advertise brands are obnoxious and impossible to ignore for pedestrians or drivers. Therefore, advertising on cars, mini-vehicles, delivery trucks, etc. helps firms sell their product offers even in distant places where it is difficult to reach potential clients via newspapers, billboards, TV, etc. advertising.

Vehicle customization is becoming increasingly popular. While businesses may have their fleets wrapped with unique branding, some drivers may prefer the appearance of a high-quality paint job at a lower expense. Rising demand for vehicle wraps may be traced to an increase in the number of middles- and upper-class consumers purchasing automobiles and luxury vehicles.

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Vehicle wraps are more popular than painting since they save money over refinishing a car. Full car wraps are substantially more cost-effective. Wrapping a car with advertising may increase sales and customer attention by turning it into a mobile billboard (ROI).

Regional analysis:

The North American market holds the greatest share of the global market, and it is expected to grow at the fastest rate over the forecast period. The United States, in particular, was an early adopter of car graphics, which contributed to the region’s growth. The light commercial vehicles subsegment is expected to drive the market expansion at a considerable CAGR during the assessment period due to high product demand.

Significant product demand across vehicle types, especially in western European nations, is anticipated to propel the market in Europe to the greatest growth rate throughout the projected period. Key automakers like Daimler, Porsche, BMW, Audi, Rolls Royce, etc. are present in Europe, which has contributed to the expansion of the market there.

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Market segmentation:

Based on the type of product made for Cast Film, Calendered Films

According to the Mode of Distribution: Online and Offline

Cars Designed for Individual Use, Light Commercial Vehicles, and Heavy Duty Trucks

Vehicle wraps, in contrast, to paint jobs, maybe simply and affordably swapped out for new ones to give the car a fresh look. Vehicle refinishing is a costly need. Vinyl wraps instantly protect the car from corrosion and other weather conditions, which has led to a considerable movement in preference away from costly paint treatments and toward inexpensive vehicle wrap films. It’s also resistant to abrasion and stone chipping.

Key players:

Avery Dennison Corporation, HEXIS S.A.S., KAY PREMIUM MARKING FILMS LTD, Vvivid Vinyl, Inc.,3M, Arlon Graphics, L.L.C., and ORAFOL Europe GmbH are the companies that are currently dominating the market.

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