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Vehicle wraps help drive global vinyl film market to $6.3 billion

The global printable self-adhesive vinyl film market will expand at an annual rate of 4.6% from 2021 to reach $US4.42 billion ($A$6.31 billion) by 2028, according to researcher ReportLinker.

 hexis skintac
    HEXIS printable cast pvc film SKINTAC

“Rising demand for fleet graphics and growing application scope in the sign & graphics industry are anticipated to fuel the market growth,” says the report, Printable Self-adhesive Vinyl Films Market Size, Share & Trends Analysis Report By Type, By Manufacturing Process, By Thickness, By Application, By Substrate And Segment Forecasts, 2021 – 2028

“The availability of printable self-adhesive vinyl films in two different forms, such as cast and calendered, provides an additional opportunity to the market owing to the benefits offered by these distinct films. For instance, cast vinyl films do not shrink with age, have extended life & durability, and are cost-effective & available in thinner gauges.

“Calendered vinyl films are economical and have higher abrasion resistance. Many companies offer product guarantees ranging from two to seven years. This is due to the product’s high resistance properties to water and UV, which can be enhanced with the application of nano-ceramic atop the film. 

“The car wrapping application segment is expected to witness an increase in demand with the growing automotive industry, especially in Asia Pacific,” the report says.

However, technical complexities are expected to limit growth during the forecast period. “Most of the complexities occur during the processing of heavy-duty vehicles, due to their big size and heavy bases. These factors have resulted in their low growth penetration. However, the trend of advertising and branding is anticipated to benefit these vehicles due to their large space availability.

“These customization trends are largely adopted by individual customers on their personal light-duty vehicles, resulting in its high growth penetration. 

“Rising disposable income and rapid urbanization are some of the macroeconomic factors contributing to the high growth potential of the market."

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    Avery Dennison digital print film

 Printable Self-adhesive Vinyl Films Market Report Highlights

In terms of revenue, the calendered films segment accounted for a prominent share in 2020 due to attributes including stiffer and thicker texture for easy handling, higher performance on flat, simple, and moderate curves, and higher resistance to abrasion.

The fleet graphics application segment dominated the market in 2020 owing to the increasing demand for effective advertising that makes a lasting impression on the customers.

Global advertising and marketing professionals have included printable self-adhesive vinyl films media in their branding strategies. Floor graphics are suitable for tradeshow booths, reception areas, corporate lobbies, conference rooms, and performing art centres & theatres.

Merger & acquisition strategies are being undertaken by major players. For instance, in September 2019, Orafol Europe GmbH acquired KMPF Vehicle Wrap. The acquisition enabled Orafol to expand its market presence in the U.K.

Asia Pacific and Japan (APJ) was the largest regional market in 2020. Numerous companies including Avery Dennison, Hexis S.A., and 3M have been developing a variety of colours and prints to meet the rising product demand for car wrapping applications.

More info here: https://www.reportlinker.com/p06187935/?utm_source=GNW