Hyderabad, Jan. 25, 2023 (GLOBE NEWSWIRE) -- One of the main elements fostering a favorable view of the market is the significant global growth of the advertising sector. Manufacturers and retailers frequently employ graphic films for promotional campaigns to produce dynamic vehicles, window and wall banners, and posters and reach a wider audience. Accordingly, the market is expanding due to consumers' growing choice of color-changing graphic wraps for cars. Due to the COVID-19 pandemic, there has been a significant increase in the introduction of graphic films with extra features such as an anti-bacterial feature. An increase in demand for these products can compel manufacturers to adjust their operating procedures while assisting businesses, particularly in Europe and Asia, to turn a profit.
Europe is anticipated to lead the market for graphic films as the market in the region is growing at a significant pace due to an increase in the usage of films in vehicle wrapping, and it has the presence of prominent and emerging market players, making the region an innovation hub, states Ashish Gautam, a Research Manager at Mordor Intelligence. In addition, Germany is one of the region's largest markets due to its dominance in the printing industry and film plastic adoption. Globally, the country's dominance in the automotive sector is attracting regional market vendors.
Further, graphic films are witnessing increasing adoption for the protection of automotive coatings, and vendors are focusing on introducing films for such applications. For instance, in August 2022, RODIM, a paint-related product brand of BASF, launched its new invisible Thermoplastic Polyurethane (TPU) Paint Protection Film (PPF) in the Asia-Pacific region. It provides multifaceted and long-lasting protection for automotive coatings. The company has launched this film in response to the surging demand from its customers in China.
E-commerce is also driving the adoption of graphic films in retail trade. Also, e-commerce providers are adapting digital printing, which utilizes variable data printing (VDP) to colorize texts or add varnishes to the printed matter's text portions. According to the Office for National Statistics, the United Kingdom is one of the leading European countries in terms of online shopping penetration. The large-scale adoption of graphic films or wraps in vehicles has been driven by the need for protection, advertisement purposes, and to provide a better look for the vehicles. Also, as per the Outdoor Advertising Association of America (OAAA), one vehicle wrap can generate between 30,000 and 80,000 impressions daily. Putting graphic film wraps on an automobile is a cheaper means of advertising than other forms of advertisement. According to the Outdoor Advertising Association of America, vehicle wraps cost USD 0.15 per thousand impressions (CPM). In contrast, billboards cost USD 1.78, radios cost USD 5.92, and prime TV spots cost USD 20.54. Thus, the lower cost of advertisement drives the growth of the market studied across the automotive sector.
Additionally, the growing advancements in printing technologies and the increasing adoption of digital printing indicate a paradigm shift in printing from conventional to more evolved with modern technologies in the market. Furthermore, the ability to recycle graphic films primarily made from polypropylene with polyethylene layers further encourages regional players to invest in advanced production units.
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Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics. Get a glance at the Global Graphic Film Market or ask for a more customized report.
