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Europe Automotive Wrap Films Market Size, Share & Trends Analysis Report By Application, By Country And Segment Forecasts, 2022 - 2030
Europe Automotive Wrap Films Market Size, Share & Trends Analysis Report By Application (Trucks, Passenger Cars, Buses), By Country, And Segment Forecasts, 2022 - 2030 Europe Automotive Wrap Films Market Growth & Trends
New York, June 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Automotive Wrap Films Market Size, Share & Trends Analysis Report By Application, By Country And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06288307/?utm_source=GNW
The Europe automotive wrap films market size is expected to reach USD 7.94 billion by 2030. The market is expected to expand at a CAGR of 21.6% from 2022 to 2030. Mobile advertising is a major factor driving the market in Europe. Mobile advertising has emerged as an affordable and effective means of advertising over the past few years. Using automotive wrap films allows the conversion of any vehicle including car, bus, and truck into a moving billboard, thus facilitating an increased number of views per day.
Changing consumer lifestyles coupled with rising disposable income plays a major role in increasing demand for automotive wrap films across the region.Increasing demand for customization on light-duty vehicles including cars and two-wheelers is expected to drive market growth across Europe.
Manufacturers of automotive wrap films offer them in a wide range of colors and textures for use in vehicles. This increases the demand for these wrap films across Europe to carry out the customization of vehicles.
Automotive plastic wrap films are also used for advertisement applications, as well as for the differentiation of trucks, buses, and passenger cars. The flourishing sign & graphics industry owing to the increasing requirement of mobile advertising, coupled with lower costs of automotive wrap films than vehicle paints, is fueling the growth of the automotive wrap films market in Europe.
The Europe market for automotive wrap films has witnessed numerous changes in terms of designs, textures, & colors over the past years. The advantages of wraps over vehicle paint, increasing consumer propensity towards customization of vehicles, and increasing return on investment on mobile advertising have resulted in increased consumer preference toward vehicle wraps over paint.
Europe Automotive Wrap Films Market Report Highlights
• In terms of revenue, the passenger cars segment accounted for more than 45% revenue share in 2021 and is expected to witness prominent growth over the forecast period. Automotive wrap films are low costs as compared to vehicle paints, especially for high-end vehicles such as Mercedes, Porsche, Volkswagen, and BMW. Nowadays, automotive wrap films, also known as ghost vinyl, are being used by police officials to maintain traffic discipline and the safety of people. Many reflective vinyl wraps, including EnduraLITE 48000, M8512, and ORALITE 5600 or 5650RA, are being used for this purpose, ultimately leading to a rise in their demand
• Increasing R&D coupled with an improving economic situation in the economy is expected to augment the demand for automotive wrap films over the forecast period. The low cost of wrap films coupled with the rising popularity of transit advertisements in the country is expected to fuel the product demand over the forecast period
• Major players are continuously working on developing new and efficient products owing to the rising demand for automotive wrap films. For instance, in January 2019, the Fedrigoni S.P.A. (Ritrama S.p.A.) introduced slide & tack cast vinyl film, which can be applied to any vehicle. These films are slide and tack-based, which makes wrapping 30% faster. This product innovation enabled the company to have an edge over its competitors by providing faster wrapping solutions
Read the full report: https://www.reportlinker.com/p06288307/?utm_source=GNW
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