Automotive Wrap Films Market Analysis, Size, Growth, Share, Outlook & Forecast to 2027
The global automotive wrap films market size is expected to reach USD 17.6 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 22.5% over the forecast period. High application scope, coupled with increasing demand from light-duty vehicles, is likely to have a positive impact on market growth. The market has witnessed major advancements, both in terms of technology and material, to facilitate low cost and mass production of automotive wrap films. This has also led to flexibility in design and ease of manufacturing for a wide range of applications including heavy, medium, and lightduty vehicles. Demand for automotive wrap films in the Asia Pacific is expected to register the fastest CAGR during the forecast period. The growing automotive industry, coupled with the rising population and increasing disposable income of middle-class families in emerging economies of the region, is likely to be the primary driving factor in the coming years. Moreover, the growing interest in vehicle color change among consumers is expected to propel the demand for automotive wrap films in the region. The medium-duty vehicle segment is anticipated to witness considerable growth during the forecast period. Rapid industrialization, coupled with government initiatives to facilitate various policies in economies such as India, is projected to drive growth over the next few