Key Findings of the Global Automotive Wrap Films Market | Technavio

LONDON–(BUSINESS WIRE)–#Plastics–The latest market research report by Technavio on the global
automotive wrap films market predicts a CAGR of over 5%
during the period 2017-2021.

The report segments the global automotive wrap films market by
application (light-duty vehicles, medium-duty vehicles, and heavy-duty
vehicles) and by geography (the Americas, EMEA, and APAC). It provides a
detailed illustration of the major factors influencing the market,
including drivers, opportunities, trends, and industry-specific
challenges.

Here are some key findings of the global
automotive wrap films market, according to Technavio researchers:

• Advertisements on automotive wrap films help capture audience
  attention: a major market driver
• The light-duty vehicles segment dominated the market with
  approximately 48% share in 2016
• APAC dominated the global automotive wrap films market with a share of
  42% in 2016
• 3M, Arlon Graphics, AVERY DENNISON CORPORATION, Hexis UK, and KPMF are
  the leading players in the market

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Advertisements on automotive wrap films help capture audience
attention: a major market driver

Modes of advertisements such as signboards, print ads, and radio and
television spots are effective methods and capture the attention of the
target audience. However, they do not reach a wide audience as they are
stationary. Wrap films on automobiles increase the visibility and reach
of these advertisements among the target audience. The high density of
light-duty vehicles is also likely to drive the global automotive wrap
films market during the forecast period.

Sports cars, non-traditional vehicles (vehicles that cannot be used on
public streets, roads and highways; example, three-wheeled motorcycle),
and heavy equipment extensively use automotive wrap films. Fire service
vehicles and other emergency services use these wrap films to benefit
from the visual impact of these wraps. Rental and construction companies
benefit from these graphics on the vehicles. These automotive wraps are
being widely used due to their unique textures and finishes such as wood
grain, brushed metal, and leather.

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Rapid industrialization propelling growth in APAC

Technavio researchers estimated that the highest revenue contributor to
the global automotive wrap films market is APAC owing to the rapid
industrialization and the growth of the automotive industry in economies
such as China and India. Factors such as the rising population and
increasing disposable incomes have a positive impact on the automotive
wrap films market in this region. China has witnessed a shift to
high-value products from their low-cost counterparts.

According to Hitesh Bhatia, a lead analyst at Technavio for research on plastics,
polymers, and elastomers, “In India, the increase in crime
against women has compelled stringent regulations on the use of
automotive films on light and medium-duty vehicles to ensure their
safety. These regulations may hamper the market. However, heavy-duty
vehicles segment is expected to drive the market as these regulations do
not imply on them.”

Competitive vendor landscape

Regional and global players such as 3M, Arlon Graphics, AVERY DENNISON
CORPORATION, Hexis UK, and KPMF makes the global
automotive wrap films market highly competitive. R&D activities,
expansion strategies, customization of product offerings, attracting
potential customers, and engagement of existing customers have
increased. These days, customers seek innovative, efficient, and
affordable solutions and due to this the global and local players are
increasing their offerings to maintain their position in the market. The
growth in the automotive sector and the increasing use of fleet
advertising in developing regions has fueled the demand for automotive
wrap films.

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automotive wrap films equipment market report free of cost

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