Global Automotive Wrap Films Market Price 2024, Forecast To 2033
8 Mar, 2024
The automotive wrap films market has experienced exponential growth, rising from $5.78 billion in 2023 to $7.14 billion in 2024 at a CAGR of 23.5%, driven by customization trends and advertising opportunities. Projected to see continued exponential growth, the market is forecasted to expand to $15.51 billion in 2028 at a CAGR of 21.4%, fueled by the rise of motorsports and digital printing sector. Major trends include advancements in film technologies and sustainable materials.
Global Automotive Wrap Films Market Key Driver
An increase in the sales of luxury vehicles is significantly contributing to the growth of the automotive wrap films market going forward. Luxury vehicles refer to vehicles that provide increased levels of performance, status, comfort, and quality compared to regular vehicles for an increased price. Automotive wrap films such as paint protection films cover the surfaces of luxury cars to protect the luxury vehicle from scratches, strains, and fading caused by external factors such as debris, rocks, sand, acid rains, and other elements. Automotive wrap films increase the longevity of luxury vehicles’ exterior finish, which is crucial for their luxury status and maintenance. For instance, according to the January 2023 report released by Rolls Royce, a UK-based luxury vehicle manufacturer, the sales of Rolls Royce luxury cars increased by 7.7% from 5,586 in 2021 to 6,021 in 2022. Therefore, the increase in sales of luxury vehicles will drive the automotive wrap films market.
Get A Free Sample Of The Global Automotive Wrap Films Market ReportGlobal Automotive Wrap Films Market Segments
The automotive wrap films market covered in this report is segmented –
1) Film Type:Windows Films, Wrap Films, Paint Protection Films
2) Material:Cast Vinyl, Calendared Vinyl
3) Application:Passenger Vehicle, Commercial Vehicle
By Geography: The countries covered in the automotive wrap films market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the automotive wrap films market in 2023. The regions covered in the automotive wrap films market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Automotive Wrap Films Industry Players
3M Co.; APA Corporation; Avery Dennison Corporation; Fedrigoni SpA; Guangzhou Sino Group Ltd.; Garware Hi-Tech Films Limited; Alphagraphics UK; Ritrama SpA; KDX America LLC; Hexis SA; Metamark UK Ltd.; Spandex UK Ltd.; Madico Inc.; Signmaster Systems Ltd.; FDC Graphic Films Inc.; Ikonix USA; Arlon Graphics LLC; J&A International UK Ltd.; Studio One Ltd.; CMYUK Ltd.; Kay Premium Marking Films Ltd.; Vinyl Graphics Limited; Orafol Europe GmbH; Guangzhou Carbins Film Co. Ltd.; Vehicle Wraps Inc.; Portfolio Display Ltd.; ADS Window Films Ltd.; JMR Graphics Inc.; Vvivid Vinyl Inc.
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Automotive Wrap Films Market Overview
Automotive wrap films refer to types of vinyl that can be applied to a vehicle's bodywork to protect the paintwork, promote a business, or change its appearance. They safeguard the paint on the car, keeping the vehicle in great shape and protecting its value.