Automotive Wrap Films Market: Current Analysis and Forecast (2021-2027)

Report Description

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Car wraps are becoming increasingly important for vehicle health and passenger safety in the long run. Automobile film wraps are often used for marketing purpose since they are relatively cheaper than other methods of advertising. For instance, according to a report by big picture graphics, one vehicle wrap can generate between 30,000 – 80,000 impressions daily.  Moreover, continuous expansion in the pre-owned automobile markets has also resulted in a surge in demand for wrap films, since significant scratches, faulty paint, and other imperfections may be concealed with the use of wrap films.

The global automotive wrap films market is expected to register a CAGR of around 22% over the period of 2021-2027.

An automotive wrap film is a vinyl design that is put directly over the vehicle’s original paint. These films are typically applied for two purposes: altering or enhancing the aesthetics of a vehicle, and maintaining the original paint from dirt and rust.

Some of the major players operating in the market include 3M Company, Ads Window Films Limited, Arlon Graphics LLC, Avery Dennison Corporation, Eastman Chemical Company, Foliatec Bohm Gmbh & Co. Vertriebs Kg, Garware Polyester Limited, Hexis S.A., Kay Premium Marking Films Ltd and Madico, Inc.

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Insights Presented in the Report

 “Amongst application, passenger car segment is expected to witness highest CAGR during the forecast period”

Based on application, the market is classified into passenger cars, buses, and trucks. The passenger car category has a significant market share, which is mostly due to lower car wrap pricing and increased customer preference for vehicle customization, such as different colors and textures. Furthermore, ongoing logistics and development in developing countries such as China are likely to boost growth in the bus and truck sectors throughout the projection period. These factors contribute to the market sector of commercials on trucks and buses throughout the projected timeframe.

 “North America to witness significant growth during the forecast period”

North America has accounted for a significant CAGR in recent years. Early industrialization, along with increased use of vehicles for advertising campaigns in the region, has resulted in a strong demand for the car wrap film business. Moreover, the market expansion over the anticipated period is projected to be driven by the low cost of wrap films compared to paint, and rising customer interest in customizing their cars in the North American region.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

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Research Methodology

Research Methodology for Global Automotive Wrap Films Market Analysis (2021-2027)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global automotive wrap films market were the three major steps undertaken to create and analyze the adoption of automotive wrap films in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive wrap films market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the automotive wrap films market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the automotive wrap films market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segment is included in the report such as application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive wrap films market. Further, we conducted factor analysis using dependent and independent variables such as applications of automotive wrap films. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisitions, business expansion, and product launches in the automotive wrap films market sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automotive wrap films market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of automotive wrap films market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global automotive wrap films market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automotive wrap films market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of offering and technique in the global automotive wrap films market.

The main objective of the Global Automotive Wrap Films Market Study

The current & future market trends of the global automotive wrap films market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the automotive wrap films market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of application and region.
• Define and analysis of the regulatory framework for the automotive wrap films market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the automotive wrap films market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
• Company profiles of the automotive wrap films market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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