Vehicle Wrap Market: Introduction
Vehicle wrap film is defined as the automotive aftermarket practice of partially or completely covering a vehicle's original paint. This film is used either to enhance the appearance of a vehicle or safeguard the original paint from corrosion or dust. The wrap can last up to five years. Vehicle wrap is also used for advertisement purposes.
Vehicle Wrap Market: Segmentation
The vehicle wrap market can be segmented based on finishing, film type, and region. Based on finishing, the vehicle wrap market can be classified into metallic, matte, gloss, and others (satin, textured, etc.). Matte is expected to be the leading segment of the vehicle wrap market during the forecast period. Matte finishing provides premium look. It is also stain free, easy to maintain, and cost effective. This is anticipated to drive the segment. In terms of film type, the vehicle wrap market can be divided into cast film, calendared film, and polymeric film. Cast film is anticipated to dominate the vehicle wrap market in the near future, as it provides excellent conformability to substrate, optimal esthetics, and is easy to apply.
Vehicle Wrap Market: Trends & Developments
Rise in consumer interest to change color of their vehicles for higher esthetic value and provide protection to paint is a key factor driving the vehicle wrap market. Additionally, low cost of vehicle wrap vis-à-vis vehicle paint and increase in usage of vehicle wrap in advertisement are boosting the market. However, technical complexity in vehicle wrap is hampering the vehicle wrap market. Nevertheless, expansion in the graphics industry is likely to create new opportunities for the vehicle wrap market.
Vehicle Wrap Market: Regional Outlook
Based on region, the global vehicle wrap market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is anticipated to account for major share of the global vehicle wrap market, led by the presence of a well-established vehicle market and high disposable income of consumers. Presence of key manufacturers is also driving the vehicle wrap market in the region. North America holds significant share of the vehicle wrap market due to the increase in number of premium range vehicles in the region. The vehicle wrap market in Asia Pacific is expanding at a rapid pace owing to the significant growth in the automotive industry in the region. Extensive usage of vehicle wrap for advertisement purposes is also propelling the vehicle wrap market in Asia Pacific. The vehicle wrap market in Middle East & Africa and Latin America is estimated to expand at a moderate pace during the forecast period due to the growth of automotive industry.
Vehicle Wrap Market: Key Players
Key players operating in the global vehicle wrap market include 3M Company, Ads Window Films Limited, Arlon Graphics LLC, Avery Dennison Corporation, Eastman Chemical Company, Foliatec Bohm Gmbh & Co. Vertriebs Kg, Garware Polyester Limited, Hexis S.A., Kay Premium Marking Films Ltd., Madico, Inc., Nexfil Co, Ltd., and Prestige Film Technologies.
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