Global Automotive Wrap Films Market is expected to reach USD 19.5 Billion by the end of forecast period 2021-2027

The Automotive Wrap Films Market is forecasted to grow at a high rate owing to increasing trend for automotive customization across the globe.

The Global Automotive Wrap Films Market was estimated at USD 4.3 Bn in 2020 and is expected to grow with CAGR of 24.1% during the forecast period.

The automotive wrap films market is majorly growing owing to the rising trend for automotive customization in several developed countries. Automotive wrap films are an efficient and cost-effective method for the customization of any vehicle. These films help in protecting the original paint of a vehicle and thus maintain its resale value. These films have also gained popularity as they use advanced way to control energy usage, provide privacy, safety, and protects both interior furnishings and the exterior surface. Along with this, these films offer protection from heat rejection, UV rays, and a defense against scratches. Owing to these benefits, they are increasingly being used in commercial vehicles, passenger cars, and heavy commercial vehicles.

Moreover, rising competition and increasing adoption of advanced technologies by key market players to enhance their presence in the market is expected to provide lucrative growth opportunities in the automotive wrap films market. For instance, players such as VVIVID VINYL, a company that specializes in manufacturing and distribution of cast vinyl, offer “VViViD®'s Glow-In-The-Dark films”. These dark films make use of advanced ray capturing technology to charge during the day and glow brightly at night. Similarly, Avery Dennison, a materials science and manufacturing company is effectively using advanced technologies such as digital printing to manufacture a range of product lines. Its offerings include high-performance calendered digital vinyl films, super cast digital color graphics, and intermediate calendered digital vinyl films among others. Such use of advanced technologies is anticipated to boost the automotive wrap industry's growth.

Global Automotive Wrap Films Market by Region Outlook (Revenue, USD Million, 2021-2027)

• Europe
• North America
• Asia Pacific
• Middle East & Africa
• Latin America

Based on region, the Asia-Pacific region is the fastest-growing region in the automotive wrap films market across the globe.  This high share is mainly attributed to the increasing standard of living and growing automotive sector in the region. Also, the rising popularity of color-changing vehicle wraps along with increasing demand for paint protection films is expected to bolster the product demand. In addition, the promotion of tourism and green life by governments in this region has resulted in increased usage of wrap films in heavy-duty vehicles, such as trucks and buses. Moreover, several benefits offered by these films, such as the improved resale value of vehicles and low-cost maintenance, are projected to have a positive impact on the market growth. Furthermore, Japan, with its upcoming innovations and technologies, is also expected to cater to growth opportunities in the automotive wrap films industry in the region.

The Global Automotive Wrap Films Industry Segmentation:

Global Automotive Wrap Films Market by Vehicle Type Outlook (Revenue, USD Million, 2021-2027)

• Passenger cars
• Commercial vehicles
• Heavy commercial vehicles

Global Automotive Wrap Films Market by Film Type Outlook (Revenue, USD Million, 2021-2027)

• Windows films
• Wrap films
• Paint protection films

Global Automotive Wrap Films Market by Application Outlook (Revenue, USD Million, 2021-2027)

• Advertisement purpose
• Safety purpose

Key Findings:

• Based on film type, the wrap film type held the dominant share in the automotive wrap films industry and is expected to show similar trends in the forecast period. 
• Based on vehicle type, the passenger cars segment is expected to grow with a highest CAGR in the automotive wrap films market during the forecast period.
• Based on region, North America accounted the largest share in the market and is expected to remain constant in the forecast period.
• Based on region, Asia-Pacific region is the fastest-growing region in the automotive wrap films market across the globe.

Company Profiles and Competitive Intelligence

The key market players operating in the automotive wrap films industry are:

• 3M Company
• Ads Window Films Limited
• Arlon Graphics LLC
• Eastman Chemical Company
• Avery Dennison Corporation
• Foliatec Bohm Gmbh & Co. Vertriebs Kg
• Garware Polyester Limited
• Hexis S.A.
• Kay Premium Marking Films Ltd
• Madico, Inc.
• Nexfil Co, Ltd.
• Prestige Film Technologies
• AXEVINYL Industrial Co.,Ltd
• Vvivid Vinyl
• JMR Graphics, Inc.
• Ritrama S.p.A.
• Orafol Group
• Guangzhou Carbins Film
• Magna International Inc.
• ZF North America Inc.
• Denso International America Inc.
• Continental Automotive Systems U.S. Inc.
• Lear Corp.
• Robert Bosch
• Flex-N-Gate Corp.
• Aisin World Corp. of America
• Adient
• American Axle & Manufacturing Holdings Inc.
• Other notable palyers

Recent News:

• In October 2020, 3M, an American multinational conglomerate corporation has launched more colours into its 3M™ Wrap Film Series 2080 collection. The new colours launched range from gloss to matte to satin, and offers new protective layer, that makes installation easier and leaves a remarkable gloss finish.
• In January 2020, Eastman Chemical Company, an American company primarily involved in the chemical industry announced a capacity expansion in the Germany market. This expansion is expected to boost company’s high-performance paint protection and window film portfolio.