The global automotive films market is expected to grow by 4.5% a year from $US7.4 billion in 2022 to $US9.7 billion by 2028, according to new research from ReportLinker. Global market leaders including Orafol, Hexis, Avery Dennison and 3M are focused on "providing innovative products in response to an ever-increasing demand."
Ritrama Ri-Cast car wrap from HVG Graphics Media, which just launched its new website
“Compagnie de Saint Gobain SA, 3M Co, Luxshield GmbH, Mister Lacky, PR-Folia, Eastman Chemical Co, Ergis SA, Hexis SAS, Avery Dennison Corp, and SSA Europe GmbH are among the key players in the automotive films market," the report said. "They collectively hold a majority of the global automotive films market share.
"These companies are adopting strategies such as mergers and acquisitions, and product launches to expand their geographic presence and clientele.
“The automotive films market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In terms of revenue, in 2022, Asia Pacific dominated the automotive films market share, and Europe is expected to register the highest CAGR during the forecast period.
“The automotive films market growth in Asia Pacific is attributed to the growing automotive industry in the region," the report said. "Moreover, the surging disposable income of people in the region is aiding the demand growth of commercial and passenger vehicles.
Mortal Kombat Reflective Wrap by Dizzi Decalz of Glynde, Adelaide. “Orafol Australia supplied 5600RA series reflective film and 290GDU gloss laminate. It was printed in-house on our Mimaki UCJV300-160.”
“Increasing investments by leading automotive OEMs and rising EV manufacturing capabilities in Asia Pacific are propelling the demand for conventional and electric vehicles in the region, bolstering the need for automotive films," the report said.
“Based on film type, the automotive films market is segmented into window films/tints, wrap films, and paint protection films. In 2022, the wrap films segment held the largest share in the global automotive films market, whereas the paint protection films segment is expected to register the highest CAGR during the forecast period.
“Market players are focusing on providing innovative products in response to an ever-increasing demand for automotive glasses. In November 2022, Fedrigoni S.P.A., an Italy-based manufacturer, launched Ri-Jet C50 Ultimate Slide & Tack, the innovative, extremely durable (up to 12 years durability), and conformable film for large format digital printing, ideal for wrapping cars and vehicle fleets due to its adaptability on irregular surfaces such as bumpers, mirrors, and van corrugations. The company hopes to gain a strong hold on the market with this launch.
"Such innovative and advanced product launches are expected to drive the market growth during the coming years."
FG Falcon XR6, matte blue w/ gold starlight wrap using Hexis & KPMF films, by Wrapped On Vinyl, Bendigo VIC
Reportlinker said exhaustive research had been conducted for the report, using internal and external sources to obtain qualitative and quantitative information related to the market.
“Multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical market insights. Participants in this process include VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the automotive films market.”
The full report is available for $US3,640.