Market Overview
The Global Automotive Wrap Films Market is expected to show a valuation of USD 7.4 billion in 2023, and it is anticipated to experience significant growth at a CAGR of 23.2% for the forecast period (2023-2032).
Automotive wrap films are vinyl films applied on vehicle bodies for protective or aesthetic purposes. They allow changing the color and finish of vehicles temporarily without paint/lacquer. The global automotive wrap films market has witnessed significant growth recently owing to rising customized appearance demands.
Market Key Takeaways
- Global automotive wrap films market size was over USD 2.5 billion in 2021 and is forecast to grow at 6% CAGR between 2022 and 2030.
- Vinyl is the leading film type accounting for over 40% revenue share, though cast films expected to exhibit the fastest growth.
- Demand is rising rapidly owing to growth in usage for branding, advertising and providing temporary color finishes for vehicles.
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Market Leading Segmentation
By Application
• Passenger Cars
• Buses
• Trucks
Market Top Players
• HEXIS S.A.S
• VViViD Vinyl Inc.
• Avery Dennison Corporation
• Arlon Graphics, LLC
• 3M Company
• Kay Premium Making Films Ltd.
• JMR Graphics
• Gareware Hi-Tech Films Limited.
• Eastman Chemical Company
• Other Key Players
Market Demand Drivers:
- Increasing fleet vehicle demand requiring branding customization for business purposes
- Growth in sports and luxury cars requiring temporary protective color finishes
- Cost efficiency and capability to provide vibrant colors and finishes driving consumer demand
Market Trends
- Development of highly conformable cast films for use on complex surfaces
- Innovation in textured and multi-layered films providing three-dimensional effects
- Automotive wrap applicators focusing on vehicle-specific custom designed wraps
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Market Opportunities
- Increasing advertising and recreational use on two-wheelers, providing wider reach
- Rising application in vehicle camouflaging and disguising color during pre-launch
- Growing demand for DIY wraps presenting opportunities for user-friendly films and tools
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