Vehicle Wrapping Market: Introduction
According to the report, in terms of volume, the global vehicle wrapping market is projected to surpass 26.992 million units by 2031, expanding at a CAGR of 12.87% during the forecast period. Increasing acceptance of solid color films, such as matte black, blue, matte orange, pink, and green, is anticipated to boost the demand for these films among consumers across the globe. Furthermore, textured finish, such as carbon fiber, wood grain, leather, and brushed metal, is being rapidly adopted in Europe and North America. The need for long-term protection of vehicle paint is also expected to fuel the demand for vehicle wrapping during the forecast period. Vehicle wrapping is gaining popularity in heavy-duty, light-duty, and medium-duty vehicles. Moreover, the low cost of vehicle wrapping, as compared to vehicle paint, is also likely to drive its demand during the forecast period.
Expansion of Global Vehicle Wrapping Market
Heavy vehicles, such as buses and large vans, used for tourism also utilize wrap films for promotions. Currently, the use of automotive wrap film has become fashionable, and people are widely preferring it. The need to protect the vehicle’s original paint for an extended period is further fueling the demand for these films. The option of alternating the original color of the vehicle with different colored wraps, as per consumer choice, is another factor propelling the vehicle wrapping market.
A color wrap change is less expensive than a paint job and can also be removed by a professional, if you ever want to change it. The wrap also lasts an average of five to seven years. A color change wrap would not only keep the manufacturer’s original paint, but it would also retain the resale value. A wrap can be removed with ease to display the original color. All these factors are anticipated to propel the vehicle wrapping market across the globe.
In terms of application, the decorative segment accounted for a notable share of the global vehicle wrapping market in 2020. However, the advertisement segment is expected to gain market share by the end of the forecast period, owing to the adoption of new designs and the increasing trend of personalizing vehicles. The increased usage of wrap films for advertising purposes is projected to boost the demand for vehicle wrap films. Furthermore, rise in use of wrap film for product ads and marketing campaigns is estimated to fuel the demand for the vehicle wrap during the forecast period. Moreover, the vehicle wrap films industry is projected to be fuelled by rise in car racing events and the integration of electric vehicles during the forecast period.
In terms of finishing, the metallic wrap segment dominated the global vehicle wrapping market, in terms of value, in 2020. Metallic finishing provides a premium appearance to the vehicle. It is also stain-free, easy to maintain, and cost-effective. Various metallic wraps are available in the market, from major players such as 3M, and the demand for this type of wrap film is significantly high, which, in turn, contributes to the prominent share held by the segment in the market.
The installation of these automotive wrap films needs those particular concerns where the wrap should be fitted perfectly on the surface of the vehicles. The use of these films in the external surface allows the dirt to form a layer between the vehicle’s surface and the outer wrap. This prevents the public from using the wrap, thereby restraining the vehicle wrapping market.
Regional Analysis of Vehicle Wrapping Market
Based on region, the global vehicle wrapping market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe accounted for a major share of the global vehicle wrapping market. Early modernization coupled with a high rate of adoption of new technologies in the region has fueled the demand for the personalization of cars and consequently, propelled the market.
The growing economic development in the Europe, particularly in the automotive sector, has driven the demand for wrap films. Furthermore, the promotion of green life and tourism by governments has led to an increase in the usage of wrap films on heavy-duty vehicles, such as buses and trucks. Wrap advertisements are gaining popularity significantly in Europe, which, in turn, further boosts the vehicle wrapping market in the region.
Vehicle Wrapping Market Players
Prominent players operating in the global vehicle wrapping market include 3M, Arlon Graphics LLC, ORAFOL Europe GmbH, Avery Dennisson Corporation, Eastman Chemical Company, FOLIATEC, GARWARE PPF, and HEXIS S.A.S.
Global Vehicle Wrapping Market: Segmentation
- Vehicle Wrapping Market, by Type of Media
- Cast Vinyl
- Vehicle Printing
- Vehicle Wrapping Market, by Vehicle Type
- Two-wheeler Vehicle
- Three-wheeler Vehicle
- Passenger Vehicle
- Utility Vehicle
- Light Commercial Vehicle
- Buses & Coaches
- Medium & Heavy Commercial Vehicles
- Off-road Vehicle
- Aviation Vehicle
- Vehicle Wrapping Market, by Film Type
- Cast Film
- Calendared Film
- Polymeric Film
- Window Film
- Wrap Film
- Vehicle Wrapping Market, by Application
- Vehicle Wrapping Market, by Finishing
- Metallic Wrap
- Matte Wrap
- Glossy Wrap
- Satin Wrap
- Brushed Wrap
- Textured Wrap
- Vehicle Wrapping Market, by Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
About Automotive and Transportation Industry at Transparency Market Research
Experts at TMR adopt an innovative outlook to analyze growth trends and opportunities in the automotive and transportation industry. A range of TMR’s market research reports discover how AI is powering a transformation in the automotive and transportation industry. Our business intelligence reports on the automotive and transportation industry provide meticulous analysis using cutting-edge research methodologies.
Our expertise lies in end-to-end consulting and advisory services. Reach out to know more.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Transparency Market Research
90 Sate Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our Report to take the right decision.View Report