Demand for Light Duty Vehicles Wrap Films Is Surged on the Back of Increasing Consumer Traction

Global Automotive Wrap Films market will grow six folds between 2019 and 2029.

ROCKVILLE, MARYLAND, UNITED STATES, November 19, 2021 /EINPresswire.com/ — Automotive Wrap Films market will grow six folds between 2019 and 2029. Flourishing car customization trends coupled with successful online aggregators that enhance accessibility of used-vehicles are main drivers of this market. Manufacturers are focused on enhancing product portfolio by introducing a variety of colors and advanced protective film technologies. Another factor that influences growth is evolving consumer trends such as preventive car care and modification of aesthetic features. Increasing disposable income is propelling sales of new and used cars. Between new and used cars, the latter is garnering multiplying consumer traction from millennial consumers. This could be attributed to environmental awareness by millenials and efforts on their behalf to reduce carbon footprint.

The COVID-19 pandemic has led to a lot of disruptions in the supply and manufacturing in the global automotive segment. This has created a lot of uncertainties in multiple different aspects. The change in customer behavior in terms of mobility preferences during this crisis is changing the automotive landscape.

Global Automotive Wrap Films Market – Scope of the Report

The following report provides forecast and analysis of the global automotive wrap films market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn), according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global automotive wrap films market along with several macro-economic indicators. This newly published and insightful report on automotive wrap films sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global automotive wrap films market.

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The report also comprises the study of current issues with end users and opportunities for automotive wrap films. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of automotive wrap films manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the automotive wrap films market provided in the report adds to the credibility of this exhaustive research study.

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Key Takeaways of Automotive Wrap Films Market Study

Light Duty vehicles enjoy a major market share of more than half of the total market value. The segment is expected to grow 5x between 2019 and 2029.
Medium Duty vehicles hold second largest market share with high double digit growth rate.
Heavy Duty vehicles present the most lucrative growth opportunities with the highest double digit growth rate of over 30% during the forecast period.
Automotive Wrap film demand will grow six folds in North America. The regions holds share-wide dominance with more than 1/4th of total market value.
Europe and East Asia collectively account for more than 49% of total market share.
Middle East & Africa present the most remunerative growth prospects with the highest regional CAGR of 25% through the end of forecast period.

Global Automotive Wrap Films Market: In-Depth Assessment on Key Segments

The global automotive wrap films market is segmented on the basis of application and region.

Application

Region

Light Duty Vehicles

North America

Medium Duty Vehicle

Latin America

Heavy Duty Vehicle

Europe

East Asia

South Asia & Oceania

Middle East & Africa

This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.

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Country-specific assessment on demand for automotive wrap films has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous automotive wrap films manufacturers, experts, and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.

The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global automotive wrap films market. Some of the major competitors operating in the automotive wrap films market are 3M Company, Arlon Graphics, LLC, Avery Dennison Corporation, Ritrama S.p.A., Vvivid Vinyl and others.

Global Automotive Wrap Films Market: Research Methodology

A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the automotive wrap films market.

For More Insights: http://www.globenewswire.com/en/news-release/2020/03/17/2001947/0/en/Sales-of-Automotive-Wrap-Films-to-Expand-6X-Between-2019-and-2029-MEA-Poised-to-Turn-Highly-Lucrative-Forecasts-a-New-Fact-MR-Report.html

A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the automotive wrap films market, which includes global GDP growth rate, various industries growth rate, such as chemical & materials, automotive and others. This report serves as an authentic resource of intelligence on the automotive wrap films market, enabling the readers to take fact-based decisions on the future direction of their businesses.

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Source: EIN Presswire