Automotive Wrap Films Market: Industry Analysis And Detailed Profiles Of Top Industry Players
Key players operating in the automotive wrap films market are 3M Company, Arlon Graphics, AVERY DENNISON CORPORATION, Eastman Chemical Company, Kay Premium Marking Films Ltd, and Hexis S.A.
Demand for automotive wraps is increasing in order to enhance esthetic appearance of the vehicle, achieve dynamic colors, and provide a wide variety of custom effects to vehicles. Furthermore, automotive wraps play an important role in the protection of the vehicle paint. Wraps enhance the esthetic appearance of the vehicle, which adds to its resale value. Moreover, wraps update the appearance of the vehicle and protects it against scratches and abrasion. Several companies use different types of wrap films for advertising purposes as well.
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Adoption of modern designs and increased trend of personalizing the vehicle is likely to impact substantially positive on the automotive wrap films market. Increase in usage of wrap films for advertisement purposes is likely to positively impact the automotive wrap films market. Furthermore, usage of automotive wrap film for product advertisement, and marketing campaigns is increasing and hence, the demand for the automotive wrap is likely to increase during the forecast period. Additionally, increase in car racing events and integration of electric vehicles are anticipated to fuel the automotive wrap films market during the forecast period.
The global automotive wrap films market can be segmented based on application, material, vehicle type, sales channel, and region. Based on application, the automotive wrap films market can be classified into paint protection, window tint, and others. Using wrap films on windows rejects solar energy by up to 60%, which prevents excessive heat generation and maintains the internal temperature of the vehicle. Furthermore, during accidents wrap films hold fragments of glass and reduce potential injury during the accidents. They increase privacy also reduces glare, which ensures a safer and more comfortable ride. Automotive wrap films are utilized for paint protection. Wrap films offer resistance to yellowing, and they are tough, durable, and maintenance-free; therefore, the demand for automotive wrap film is likely to increase during the forecast period.
Based on vehicle type, the automotive wrap films market can be divided into passenger vehicle, and commercial vehicle. The commercial vehicle segment is expected to expand at a rapid pace. Light commercial vehicles and buses are mostly preferred by advertising companies for product promotion or advertising purposes. The commercial vehicle segment is anticipated to expand rapidly during the forecast period owing to their considerable surface area, usage for long-distance travel, and ability to reach a wider audience.
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The automotive wrap films market can be segregated into material. Several high and low quality vinyl manufacturers offer different types of vinyl, ranging from high-quality, high-cost cast vinyl to lower performance, inexpensive calendared vinyl.
In terms of sales channel, the automotive wrap films market can be categorized into aftermarket and OEM. Demand for custom solutions, and availability of numerous wrap film manufacturers with reliable service are expected to propel the aftermarket segment during the forecast period.
In terms of region, the automotive wrap films market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to be a highly attractive automotive wrap films market during the forecast period owing to the demand for vehicle customization, increase in demand for small cars, and presence of major automotive hubs in the region. Countries such as China, India, and South Korea are likely to drive the automotive wrap films market in the region during the forecast period.