Automotive Wrap Films Market to Witness Meteoric 21% Growth, with Spike in Demand for Customization
Growing trend of automotive customization will push the automotive wrap films market to grow 6X between 2019 and 2029. The market is garnering increased consumer traction on back of custom finish and enhanced protection offered by automotive wrap films. Developing economies of the world are witnessing a surge in purchase of private automotive vehicles.
Within private automotive vehicles (new and used cars), used cars are anticipated to multiply rapidly owing to successful online aggregators. Market players must anticipate a spike in demand for automotive wrap films as disposable incomes of consumers is creating demand for personification of cars to match consumer lifestyles.
Light Duty Vehicles to Drive Heavy Demand for Automotive Wrap Films
Light duty vehicles will drive demand generation for the forecast period on the back of increasing consumer traction. Owing to the budget – price compatibility, millennial consumers are opting for light duty vehicles such as cars, vans, and SUVs. Light Duty vehicles hold half of the total market share with a double digit growth rate of more than 18% through 2029.
Medium duty vehicles maintain second largest market share followed by heavy duty vehicles. Remunerative growth will be offered by heavy duty vehicles, as the segment exhibits the highest growth rate of over 30% during the forecast period.
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Early Adopters in North America Drive Global Sales
North America leads global sales of automotive wrap films with a major market share of more than 1/4th of the total market value. Europe and East Asia follow this region with a collective market share of over half of the total market value. However, Middle East & Africa show signs of strong growth over the forecast period with the highest double digit growth rate of 25% by the end of 2029.
Early adopters of automotive wrap films are driving stupendous growth rates across North America and European countries. Developing regions, on the other hand, are undergoing rapid change amid evolving automotive production and aftermarket services.
Loyal Consumer Communities Pivotal to Sustainable Growth Trends
Market players are leveraging content marketing strategies and developing loyal consumer communities via social media websites. Consumer trends are central to the growth of this market. Manufacturers are approaching prospects via online channels of sale. Amid increasing quality of life, consumer expenditure on customization and modification of cars is multiplying.
Major market players are establishing partner programs to leverage existing automotive maintenance and repair ecosystem in developing nations. Organizations that shape the automotive wrap films market are 3M Company, Arlon Graphics LLC, Avery Dennison Corporation, Ritrama S.p.A., Vvivid Vinyl, Orafol Group, Kay Premium Marking Films, Hexis S.A., JMR Graphics Inc., Guangzhou Carbins Film Co., LTD, and Lucent Graphic Solutions.
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Global Automotive Wrap Films Market: In-Depth Assessment on Key Segments
The global automotive wrap films market is segmented on the basis of application and region.
- Light Duty Vehicles
- Medium Duty Vehicle
- Heavy Duty Vehicle
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Global Automotive Wrap Films Market - Scope of the Report
The following report provides forecast and analysis of the global automotive wrap films market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global automotive wrap films market along with several macro-economic indicators. This newly published and insightful report on automotive wrap films sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global automotive wrap films market.
The report also comprises the study of current issues with end users and opportunities for automotive wrap films. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of automotive wrap films manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the automotive wrap films market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for automotive wrap films has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous automotive wrap films manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Automotive Wrap Films Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the automotive wrap films market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the automotive wrap films market, which includes global GDP growth rate, various industries growth rate, such as chemical & materials, automotive, and others.
This report serves as an authentic resource of intelligence on the automotive wrap films market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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