Automotive Wrap Films Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022 - 2027

Report Code: CMR 65219 Report Format: PDF + Excel

Automotive Wrap Films Market Overview

The automotive wrap films market size is forecasted to reach US$4.1 billion by 2027 growing at a CAGR of 19.6% during 2022-2027. The demand for passenger vehicles is booming, especially in emerging economies. Automotive wrap films are incorporated in multiple wrap solutions in passenger vehicles and the growth in passenger cars will drive the market’s growth in the forecast period. For instance, as per data by the China Association of Automobile Manufacturers (CAAM), production of Chinese passenger vehicles reached 1.767 million units in September 2021, increasing 18.1% month on month. Furthermore, automotive wrap films are associated with advertisement and brand marketing purposes through automobiles and the increasing demand from the advertising sector will drive the market’s growth in the forecast period. For instance, as per the July 2021 news report by Contra Vision, Sky Now, the new over the top (OTT) internet television service by British satellite television provider Sky, contacted Vinyl Graphics Limited (VGL) to promote their advertisement campaign. VGL later joined hands with Contra Vision and used its perforated window film for the full-scale bus wrap. Cast vinyl films material is projected to witness the highest demand in the forecast period. The paint protection films type is expected to witness the maximum demand in the forecast period. Window tints will witness significant demand in the forecast period. The strict regulations regarding the use of automotive films in some countries might hamper the market’s growth in the forecast period.

COVID-19 Impact

The automotive wrap films market was deeply impacted amid the COVID-19 pandemic due to the reduced production of automobiles in many regions. Owing to lockdown restrictions and disruption in the supply chain, the automotive manufacturing units were idled, leading to a loss in the production of millions of automobiles globally. This reduction in automobile production also lowered the implementation of automotive wrap films. Furthermore, due to the pandemic, market players modified their working system to avoid the complete shutdown of their factories. For instance, US based company Arlon Graphics which deals with vehicle wrap solutions, kept its factories in California and China active to have the continuity of its supply services. Going forward, the market is expected to witness significant growth owing to the rise in automobile production globally.

Report Coverage

The report: Automotive Wrap Films Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Automotive Wrap Films Industry. 

By Type: Window Tints, Paint Protection Films, Decorative, Others

By Material: Cast Vinyl, Calendered Vinyl

By Application: Passenger Vehicle, Commercial Vehicle, Light Commercial Vehicles (LCVs), Medium Commercial Vehicles (MCVs), Heavy Commercial Vehicles (HCVs)

By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways:

  • Cast vinyl film is leading the automotive wrap films market. Cast vinyl offers excellent dimensional stability and helps with the conformability of the product, making this material a suitable choice in the market.
  • Passenger vehicles will drive the growth of the automotive wrap films market in the forecast period. As per the July 2021 report by the European Automobile Manufacturers Association, passenger car registration increased by 25.2% in the first of 2021 in the European region.
  • The Asia-Pacific region will witness the highest demand for automotive wrap films in the forecast period. As per the August 2020 data by the China Association of Automobile Manufacturers, the Chinese government extended subsidies in the new energy vehicles until 2022 which will propel the development of new energy vehicles.

Figure: Asia Pacific Automotive Wrap Films Market Revenue, 2021-2027 (US$ Billion)

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Automotive Wrap Films Market - By Type

Paint protection films type dominated the automotive wrap films market in 2021 and is growing at a CAGR of 20.1% in the forecast period. Paint protection films are integral elements in the automotive wrap film solution. The paint protection films are utilized in various automobiles parts such as over the hood, bumper, rear fender panel, roof, etc. These type of wrap films helps in reducing surface impressions and scratches. Owing to the wide range of applications and excellent properties, market players are focusing on expanding the paint protection wrap films. For instance, in May 2021, Orafol, which deals with polymer films, launched its new and innovative paint protection film named ORAGUARD 2815GF. This new wrap film was designed especially for car paint protection. Such development in the paint protection wrap film will increase its demand in the forecast period. Window tints will witness significant demand in the forecast period.

Automotive Wrap Films Market - By Material

Cast vinyl material dominated the automotive wrap films market in 2021. This vinyl films material comes with superior qualities such as better durability, smooth removal, good dimensional quality, etc. These superior qualities of cast vinyl compared to calendered vinyl encourages market players to focus more on the development of cast vinyl material based wrap films. For instance, in October 2020, US-based company Arlon Graphics LLC which deals with cast vinyl launched a new cast wrap film named SLX+ through which a complete vehicle wrap job can be executed from start to finish with just one roll. Such development of wrap films with the involvement of cast vinyl material will increase the demand for cast vinyl in the automotive wrap films market during the forecast period.

Automotive Wrap Films Market - By Application

Passenger vehicle dominated the automotive wrap films market in 2021 and is growing at a CAGR of 22.2% in the forecast period. Automotive wrap films are used for protecting various surfaces in passenger cars and the increasing demand for cars globally will drive the market’s growth in the coming years. For instance, as per the July 2021 report by the European Automobile Manufacturers Association, passenger car registration jumped by 10.4% in June 2021 compared to the same month in 2020. Similarly, as per the August 2020 data by the China Association of Automobile Manufacturers, Generation Z consumers are more willing to spend on cars and car-related products like car loans which, in turn, will amplify the demand for passenger vehicles. Such high demand for passenger vehicles will require higher implementation of automotive wrap films, ultimately driving the market’s growth in the forecast period. Commercial vehicles will drive the automotive wrap films market’s growth significantly in the forecast period.

Automotive Wrap Films Market - By Geography

The Asia-Pacific region held the largest market share in 2021 with a market share of up to 32%. The increasing demand for paint protection films and the rise in automotive sales including both passenger and commercial vehicles are the key factors that will augment the demand for automotive wrap films in this region. As per the data by the China Association of Automobile Manufacturers, in September 2021, production of commercial vehicles reached 310000 units in China, surging 35.5% month on month. Similarly, as per the May 2021 data by chinabuses.org, the production of buses in China touched 483000 units in April, surging 24% year on year. Also, sales of buses in the same month touched 47000 units, surging 23% year on year. In India, the passenger vehicle segment witnessing a surge in demand. As per the data by India Brand Equity Foundation, small and midsized cars dominated the passenger cars sales in 2021 and the passenger vehicle segment is projected to have an upward trend in the forecast period. Such demand for both passenger and commercial vehicles in the Asia-Pacific region will stimulate the use of automotive wrap films in the forecast period. The European region is projected to witness significant demand for automotive wrap films in the forecast period.

Automotive Wrap Films Market Drivers

Expanding passenger vehicle segment will drive the market’s growth

Automotive wrap films are used for protection and safety purposes in automobiles. The automotive wrap includes various wrap types such as window tints, paint protection films, decorative wrap, etc. The expanding passenger vehicle segment globally will augment the higher uses of automotive wrap films in the forecast period. For instance, as per the data by the India Brand Equity Foundation, passenger vehicles demand increased in India with 261,633 units sold in April 2021, gaining a market share of 12.9%. Similarly, as per the July 2021 data by European Automobile Manufacturers Association, passenger car registrations surged in June 2021 with Germany leading the passenger car market with a 24.5% increase, followed by Spain (+17.1%) and Italy (+12.6%). Such high demand for passenger vehicles will increase the utilization of automotive wrap films, ultimately driving the market’s growth in the forecast period.

Increasing demand from the advertisement sector will drive the market’s growth

The automotive wrap is gaining traction owing to the increasing demand from the advertisement and branding sector. Brands, firms, event organizers, and businesses want their products and services to have a widespread reach globally and this is where automotive wrap plays a vital role in helping the brands to achieve their goals. Market players receive orders and demand from various advertising firms and companies to support their products and promotional campaigns. For instance, in February 2020, Formula 1 Singapore Grand Prix contacted Contra Vision to promote the Singapore Grand Prix through the help of bus wrap. Similarly, UK-based postal delivery service company Whistl contacted Vinyl Graphics Limited to promote their new delivery service across Britain, and accordingly, VGL helped the client through the full fleet wrap. Such high demand from the advertisement sector will increase the use of automotive wrap which in turn will drive the market’s growth in the forecast period.

Automotive Wrap Films Market Challenges

Strict regulations regarding the use of automotive films in some countries might hamper the market’s growth

The strict regulation about to the use of automotive wrap films in some countries might affect the growth of the market in the forecast period. The smooth use of window films has always been a challenge in the automotive wrap films market owing to the regulations incorporated regarding its use. For instance, Indian Motor Vehicle Act banned the use of tinted windows owing to a petition filed because of the rising crimes against women, carjacking, and such. Accordingly, SC banned the use of all kinds of automotive films. Such strict regulations about the implementation of automotive wrap films might hinder the growth of the market in the forecast period.

Automotive Wrap Films Market Industry Outlook

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the automotive wrap films market. Major players in the automotive wrap films market are:

  • 3M Company
  • Hexis SA
  • Arlon Graphics
  • Orafol Group
  • Nexfil
  • Contra Vision
  • Madico, Inc
  • Avery Dennison Corporation
  • Key Premium Marketing Films
  • Vinyl Graphics Limited
  • Arlon Graphics
  • Sino Vinyl
  • Others

Recent Development

  • In May 2020, 3M Company joined hands with Wrapmate, a digital platform for designing and installing automotive wraps. This collaboration will help in the expansion of vehicle graphics for product and service advertisement through wrap films, thereby contributing to the growth of the market in the forecast period.

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1. Automotive Wrap Films Market- Market Overview
    1.1 Definitions and Scope
2. Automotive Wrap Films Market- Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Material
    2.3 Key Trends by Application
    2.4 Key Trends by Geography
3. Automotive Wrap Films Market- Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Automotive Wrap Films Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Automotive Wrap Films Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis - Major companies
6. Automotive Wrap Films Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of substitutes
7. Automotive Wrap Films Market-Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product/Market life cycle
    7.4 Distributors Analysis - Major Companies
8. Automotive Wrap Films Market– By Type (Market Size -US$ Million, Billion)
    8.1 Window Tints
    8.2 Paint Protection Films
    8.3 Decorative
    8.4 Others
9. Automotive Wrap Films Market– By Material (Market Size -US$ Million, Billion)
    9.1 Cast Vinyl
    9.2 Calendered Vinyl
10. Automotive Wrap Films Market– By Application (Market Size -US$ Million, Billion)
    10.1 Passenger Vehicle
    10.2 Commercial Vehicle
        10.2.1 Light Commercial Vehicles (LCVs)
        10.2.2 Medium Commercial Vehicles (MCVs)
        10.2.3 Heavy Commercial Vehicles (HCVs)
11. Automotive Wrap Films Market - By Geography (Market Size -US$ Million / Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of Asia Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 ROW
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Automotive Wrap Films Market-Entropy
    12.1 New Product Launches
    12.2 M&A’s, Collaborations, JVs and Partnerships
13. Automotive Wrap Films Market-Industry/Segment Competition Landscape     Premium
    13.1 Company Benchmarking Matrix- Major Companies
    13.2 Market Share at Global Level- Major companies
    13.3 Market Share by Key Region- Major companies
    13.4 Market Share by Key Country- Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category- Major companies
14. Automotive Wrap Films Market- Key Company List by Country Premium Premium 
15. Automotive Wrap Films Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Automotive Wrap Films:Application Estimate Trend Analysis Market 2019-2024 ($M)
1.1 Heavy Duty Vehicle Market 2019-2024 ($M) - Global Industry Research
1.1.1 Automotive Wrap Film Market Demand In Heavy Duty Vehicle Market 2019-2024 ($M)
1.2 Light Duty Vehicle Market 2019-2024 ($M) - Global Industry Research
1.2.1 Automotive Wrap Film Market Demand In Light Duty Vehicle Market 2019-2024 ($M)
1.3 Medium Duty Vehicle Market 2019-2024 ($M) - Global Industry Research
2.Global Automotive Wrap Films:Application Estimate Trend Analysis Market 2019-2024 (Volume/Units)
2.1 Heavy Duty Vehicle Market 2019-2024 (Volume/Units) - Global Industry Research
2.1.1 Automotive Wrap Film Market Demand In Heavy Duty Vehicle Market 2019-2024 (Volume/Units)
2.2 Light Duty Vehicle Market 2019-2024 (Volume/Units) - Global Industry Research
2.2.1 Automotive Wrap Film Market Demand In Light Duty Vehicle Market 2019-2024 (Volume/Units)
2.3 Medium Duty Vehicle Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Automotive Wrap Films:Application Estimate Trend Analysis Market 2019-2024 ($M)
3.1 Heavy Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
3.1.1 Automotive Wrap Film Market Demand In Heavy Duty Vehicle Market 2019-2024 ($M)
3.2 Light Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
3.2.1 Automotive Wrap Film Market Demand In Light Duty Vehicle Market 2019-2024 ($M)
3.3 Medium Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
4.South America Automotive Wrap Films:Application Estimate Trend Analysis Market 2019-2024 ($M)
4.1 Heavy Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
4.1.1 Automotive Wrap Film Market Demand In Heavy Duty Vehicle Market 2019-2024 ($M)
4.2 Light Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
4.2.1 Automotive Wrap Film Market Demand In Light Duty Vehicle Market 2019-2024 ($M)
4.3 Medium Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
5.Europe Automotive Wrap Films:Application Estimate Trend Analysis Market 2019-2024 ($M)
5.1 Heavy Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Automotive Wrap Film Market Demand In Heavy Duty Vehicle Market 2019-2024 ($M)
5.2 Light Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Automotive Wrap Film Market Demand In Light Duty Vehicle Market 2019-2024 ($M)
5.3 Medium Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
6.APAC Automotive Wrap Films:Application Estimate Trend Analysis Market 2019-2024 ($M)
6.1 Heavy Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
6.1.1 Automotive Wrap Film Market Demand In Heavy Duty Vehicle Market 2019-2024 ($M)
6.2 Light Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
6.2.1 Automotive Wrap Film Market Demand In Light Duty Vehicle Market 2019-2024 ($M)
6.3 Medium Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
7.MENA Automotive Wrap Films:Application Estimate Trend Analysis Market 2019-2024 ($M)
7.1 Heavy Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Automotive Wrap Film Market Demand In Heavy Duty Vehicle Market 2019-2024 ($M)
7.2 Light Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Automotive Wrap Film Market Demand In Light Duty Vehicle Market 2019-2024 ($M)
7.3 Medium Duty Vehicle Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Automotive Wrap Films Market Revenue, 2019-2024 ($M)
2.Canada Automotive Wrap Films Market Revenue, 2019-2024 ($M)
3.Mexico Automotive Wrap Films Market Revenue, 2019-2024 ($M)
4.Brazil Automotive Wrap Films Market Revenue, 2019-2024 ($M)
5.Argentina Automotive Wrap Films Market Revenue, 2019-2024 ($M)
6.Peru Automotive Wrap Films Market Revenue, 2019-2024 ($M)
7.Colombia Automotive Wrap Films Market Revenue, 2019-2024 ($M)
8.Chile Automotive Wrap Films Market Revenue, 2019-2024 ($M)
9.Rest of South America Automotive Wrap Films Market Revenue, 2019-2024 ($M)
10.UK Automotive Wrap Films Market Revenue, 2019-2024 ($M)
11.Germany Automotive Wrap Films Market Revenue, 2019-2024 ($M)
12.France Automotive Wrap Films Market Revenue, 2019-2024 ($M)
13.Italy Automotive Wrap Films Market Revenue, 2019-2024 ($M)
14.Spain Automotive Wrap Films Market Revenue, 2019-2024 ($M)
15.Rest of Europe Automotive Wrap Films Market Revenue, 2019-2024 ($M)
16.China Automotive Wrap Films Market Revenue, 2019-2024 ($M)
17.India Automotive Wrap Films Market Revenue, 2019-2024 ($M)
18.Japan Automotive Wrap Films Market Revenue, 2019-2024 ($M)
19.South Korea Automotive Wrap Films Market Revenue, 2019-2024 ($M)
20.South Africa Automotive Wrap Films Market Revenue, 2019-2024 ($M)
21.North America Automotive Wrap Films By Application
22.South America Automotive Wrap Films By Application
23.Europe Automotive Wrap Films By Application
24.APAC Automotive Wrap Films By Application
25.MENA Automotive Wrap Films By Application
26.Avery Dennison Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Arlon Graphics, Llc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.The 3M Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Kay Premium Marking Film, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Ritrama S P A, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Vvivid Vinyl, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Orafol Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Hexis S A, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Guangzhou Carbins Film Co., Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Jmr Graphic Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)