Sales of Automotive Wrap Films to Expand 6X Between 2019 and 2029; MEA Poised to Turn Highly Lucrative, Forecasts a New Fact.MR Report

3/17, 2:30 PM (Source: GlobeNewswire)

Dubai, UAE, March 17, 2020 (GLOBE NEWSWIRE) -- The boom in automotive resale ecosystem, further leading to surge in customization trend, continues to offer automotive wrap films market a strong push. The market will exhibit 6X growth during the forecast period (2019-2029), as projected by a new Fact.MR study. The increase in disposable income of millennial consumers is the central force behind surging adoption of automotive wrap films through 2029.

Manufacturers are focusing on expanding their global footprint and leveraging Industry 4.0 technologies to increase cost efficiency. Manufacturing trends such as digital photographic print, and PVC-free eco-friendly wraps offer remunerative traction from consumers,” reveals Fact.MR in its new study.

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Automotive Wrap Films Market – Key Takeaways

  • North American market will register six-fold growth in automotive wrap film sales during the projection period.
  • Light duty vehicles maintain their hegemony among other applications and witness 5.5X growth through 2029.
  • Heavy duty vehicles emerge lucrative, exhibiting adoption at a high double-digit CAGR between 2019 and 2029.
  • Middle East & Africa would offer the most gainful opportunities to market players throughout the forecast.

Explore 72 tables and 123 figures in the study. Request Research Methodology at - https://www.factmr.com/report/4551/automotive-wrap-films-market

Automotive Wrap Films Market – Key Driving Factors

  • Integrating Industry 4.0 technologies such as Internet of Things (IoT), and machine learning (ML) will drive mass-adoption on the back of reduced cost of production.
  • Partner training programs will act as key growth factor owing to the importance of satisfactory finish of automotive wrap films.
  • Favorable budget-quality ratio as compared to repaint costs add to the demand for automotive wrap films.
  • Rising temperatures and harmful UV rays are some environmental factors that drive the demand for automotive film wraps during the forecast period. 

Automotive Wrap Films Market– Key Restraints

  • Lack of uniformity in finishes offered by vendors restrains mass-adoption of automotive wrap films.
  • Dearth of technical expertise among vendors dampens the growth of automotive wrap films market.

Competitive Landscape
Market players are engaging in partner training programs to equip vendors with the required technical expertise for customer satisfaction. Forward thinking organizations are adopting direct-to-consumer strategies such as made-to-order graphic automotive wrap films via online sales channels. Mergers and acquisitions remain popular strategies for expanding product portfolio, and global footprint throughout the forecast period. Manufacturers that may influence the competitive landscape are, but not limited to, 3M Company, Arlon Graphics, LLC, Avery Dennison Corporation, Ritrama S.p.A., Vvivid Vinyl and others.

About the Report

This 170-page study offers readers a comprehensive forecast of the automotive wrap films market. Global, regional and country level analysis of the latest industry trends impacting the automotive wrap films market are covered in this Fact.MR study. The report offers compelling insights on the automotive wrap films market on the basis of applications (light duty vehicles, heavy duty vehicles, and medium duty vehicles), and across six regions (North America, Latin America, Middle East & Africa (MEA), Europe, South Asia & Oceania, and East Asia).

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