Automotive Wrap Market by Product Type (Cast Film, Calendered Films, Window Films), Vehicle (Passenger Cars - Hatchback, Sedan, SUV/MPV; LCV, Bus, Truck), Electric Vehicles, Application (Advertisement, Protection, Sports) and Region - Global Forecast 2027
The automotive wrap is a plastic film made of polyvinyl material applied to a vehicle either partially or completely for different applications such as advertisement, body paint protection, or aesthetic purposes. Automotive wraps are low in cost compared to paint jobs and highly flexible and customizable, which increases their attractiveness when compared to paint jobs.
The automotive wrap market is expected to grow from USD 1.5 billion in 2022 and is poised to reach USD 3.1 billion in 2027, at a CAGR of 15.1% during the forecast period. Rising advertisement spending, growing preference for better-looking aesthetics, and motorsport applications drive the demand for the automotive wrap market.
Driver: On-the-go advertising to drive demand for automotive wrap
On-the-go advertising involves a company buying space on automotive vehicles to display their products or service offerings to prospective customers to increase the reach of their brand to improve sales. Car rental fleets, buses, and coaches in the tourism and sports industry rent the space on their vehicles to such companies and have an additional source of income. The advertising budget for companies has risen globally. According to the Outdoor Advertising Association of America, or OAAA, over 95% of US people respond to vehicle advertising. Hence as advertisement on vehicles grows, the demand for the automotive wrap will grow.
Restraint: Transportation regulations can restrain the market
Some countries, such as India, which is a large market for the automotive sector, have stringent regulations on the level of customization allowed for vehicles. As per The Supreme Court Of India ruling, car window tinting is prohibited in India. Using window tint of any VLT (Visual Light Transmission) rating on the windscreen (front and rear) and side windows is illegal. Tinted windows straight from the car manufacturer are allowed with certain conditions applied. Violation of such regulations can incur penalties. Thus, such regulations can restrain the automotive wrap market growth in a key region of Asia Pacific.
Opportunity: High-resolution graphics with better flexibility
Companies trying to attract customers quickly or private vehicle owners' preference for a particular design demand a high level of graphic resolution and a higher degree of flexibility. Avery Dennison offers digitally printed wraps as a part of their product portfolio where one can get any image digitally printed on the wrap. Automotive wrap companies have an opportunity to adapt to a higher resolution digitally printed products to gain market share in the rapidly evolving market.
Challenge: Maintaining the low cost of the wrap.
Wraps are primarily made of plastic materials, and global price fluctuations may increase the price of wrap material. Depending on the material flexibility, the wrap can be an expensive prospect for customers in the event of damage. Hence the market is posed with a challenge to keep the costs down to maintain the product's attractiveness.
Key Players
Avery Dennison (US), Arlon Graphics, LLC(US), 3M (US), Kay Premium Marking Films (KPMF) (UK), Ritrama S.p.A. Vvivid Vinyl (Canada), Orafol Group (Germany), Hexis S.A. (France), Guangzhou Carbins Film Co., LTD (China), Madico, Inc. (US), Nexfil Co, Ltd. (South Korea).
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Report Metrics |
Details |
| Base year for estimation | 2021 |
| Forecast period | 2022 – 2027 |
| Market Growth forecast | USD 3.1 Mn by 2027 at a CAGR of 15.1% |
| Top Players | Avery Dennison (US), Arlon Graphics, LLC(US), 3M(US), Kay Premium Marking Films (KPMF) (UK), Ritrama S.p.A. Vvivid Vinyl (Canada), Orafol Group (Germany), Hexis S.A. (France), Guangzhou Carbins Film Co., LTD (China), Madico, Inc. (US), Nexfil Co, Ltd. (South Korea). |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Segments covered | |
| By Vehicle Type | Light Duty Vehicles, Buses, Trucks |
| By Application | Advertisement, Protection, Sports |
| By Product Type | Cast films, Calendered films, Window films, Others |
| Passenger Cars By Segment Type | Hatchbacks, Sedans, SUVs/MPVs |
| By Region | North America – US, Canada |
| Europe – France, Germany, Spain, UK, Poland, Italy, Turkey | |
| Asia Oceania – China, India, Japan, South Korea, Australia | |
| Rest of the World – Brazil, Argentina, South Africa | |
| Additional Customization to be offered |
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Recent Developments
- In 2021, 3M witnessed a large demand for the textured wrap. These textured wraps can be of leather or even snake-skin, providing a futuristic and unique look to the vehicle.
- In 2021, BMW created an AI-based wrap design software where several picture inputs of a theme were fed into the AI system, and the system gave a unique output. This allows for a highly unique wrap design system that will be popular amongst customers.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 SECONDARY DATA
2.2 PRIMARY DATA
2.3 FACTOR ANALYSIS
2.3.1 INTRODUCTION
2.3.2 DEMAND SIDE ANALYSIS
2.3.3 SUPPLY SIDE ANALYSIS
2.4 MARKET SIZE ESTIMATION
2.5 MARKET BREAKDOWN AND DATA TRIANGULATION
2.6 ASSUMPTIONS
2.7 RISK ASSESSMENT & RANGES
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.2 RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.4 CHALLENGES
5.3 TECHNOLOGY ANALYSIS
5.4 PORTER’S FIVE FORCES MODEL
5.5 ECOSYSTEM ANALYSIS
5.6 SUPPLY CHAIN ANALYSIS
5.7 CASE STUDY ANALYSIS
5.8 PATENT ANALYSIS
5.9 TRADE ANALYSIS
5.10 KEY CONFERENCE (2022-2023)
5.11 ASP ANALYSIS
5.12 CUSTOMER BUYING BEHAVIOUR
5.12 REGULATORY ANALYSIS
6 AUTOMOTIVE WRAP MARKET, BY VEHICLE TYPE
6.1 INTRODUCTION
6.2 PASSENGER CARS
6.2.1 SEDAN
6.2.2 HATCHBACK
6.2.3 SUV/MPV
6.2 LCV
6.3 TRUCKS
6.4 BUSES
*MNM will provide regional level market in terms of volume (units) and value (USD million)
7 AUTOMOTIVE WRAP MARKET, BY PRODUCT TYPE
7.1 INTRODUCTION
7.2 CAST FILM
7.3 CALENDERED FILMS
7.4 WINDOW FILMS
7.5 OTHERS
*MNM will provide regional level market in terms of volume (units) and value (USD million)
8 AUTOMOTIVE WRAP MARKET, BY APPLICATION
8.1 INTRODUCTION
8.2 ADVERTISEMENT
8.3 PROTECTION
8.4 SPORTS
*MNM will provide regional -level market in terms of volume (units) and value (USD million)
9 ELECTRIC VEHICLE WRAP MARKET, BY VEHICLE TYPE
9.1 INTRODUCTION
9.2 BEV
9.3 PHEV
*MNM will provide regional -level market in terms of volume (units) and value (USD million)
10 AUTOMOTIVE WRAP MARKET, BY END USE INDUSTRY
10.1 INTRODUCTION
10.2 OE
10.3 AFTERMARKET
*MNM will provide regional -level market in terms of volume (units) and value (USD million)
11 AUTOMOTIVE WRAP MARKET, BY REGION
11.1 INTRODUCTION
11.2 ASIA PACIFIC
11.2.1 CHINA
11.2.2 INDIA
11.2.3 JAPAN
11.2.4 SOUTH KOREA
11.2.5 AUSTRALIA
11.3 NORTH AMERICA
11.3.1 CANADA
11.3.2 US
11.4 EUROPE
11.4.1 FRANCE
11.4.2 GERMANY
11.4.3 ITALY
11.4.4 UK
11.4.5 SPAIN
11.4.6 POLAND
11.4.7 TURKEY
11.5 REST OF THE WORLD
11.5.1 BRAZIL
11.5.2 ARGENTINA
11.5.3 SOUTH AFRICA
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
12.2 MARKET SHARE/RANKING ANALYSIS, 2021
12.3 COMPETITIVE SCENARIO
12.3.1 NEW PRODUCT DEVELOPMENTS
12.3.2 ACQUISITIONS
12.3.3 JOINT VENTURES AND AGREEMENTS
12.3.4 EXPANSIONS
12.4 COMPANY EVALUATION QUADRANT
12.4.1 STARS
12.4.2 EMERGING LEADERS
12.4.3 PERVASISVE
12.4.4 PARTICIPANTS
12.5 STARTUP/SME EVALUATION QUADRANT
12.6 RIGHT TO WIN
13 COMPANY PROFILES
(Company overview, Strength of product portfolio, Product offerings, Business strategy excellence, Recent developments) *
13.1 KEY PLAYERS
13.1.1 AVERY DENNISON CORPORATION
13.1.2 ARLON GRAPHICS, LLC
13.1.3 3M COMPANY
13.1.4 KAY PREMIUM MARKING FILMS LTD.
13.1.5 HEXIS S.A.S.
13.1.6 FEDRIGONI S.P.A. (RITRAMA S.P.A.)
13.1.7 VVIVID VINYL
13.1.8 ORAFOL EUROPE GMBH
13.1.9 GUANGZHOU CARBINS FILM CO., LTD.
13.1.10 JMR GRAPHICS
13.2 OTHER KEY PLAYERS
13.2.1 KPMF
13.2.2 MADICO, INC.
13.2.3 NEXFIL CO, LTD.
13.2.4 PRESTIGE FILM TECHNOLOGIES
13.2.5 FOLIATEC BOHM GMBH & CO. VERTRIEBS KG
*Details on Company overview, Strength of product portfolio, Product offerings, Business strategy excellence, Recent developments might not be captured in case of unlisted companies.
14 RECOMMENDATIONS
15 APPENDIX
Growth opportunities and latent adjacency in Automotive Wrap Market