Graphic Film - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Graphic Film Market size is estimated at USD 31.63 billion in 2024, and is expected to reach USD 40.87 billion by 2029, growing at a CAGR of 5.26% during the forecast period (2024-2029).

The impact of the COVID-19 pandemic on the market studied is hindering the overall anticipated growth rates. However, with contingency strategies and major end-user industries gaining gradual momentum, the long-term demand forecast demonstrates a significant surge in sales. With demand steadily growing and companies recuperating from the losses incurred due to the pandemic, the ancillary demand for graphic film wraps used in the automobile sector is anticipated to rise linearly in the short-term forecast of the market studied. Furthermore, according to Indian Rating and Research Private Limited (IND-RA), the plastic film demand rose close to 9% in 2020 and is expected to fall to 6-6.5% by 2023.

Key Highlights

• Several market incumbents are manufacturing perforated window films that are designed for use on flat, transparent surfaces, such as glass windows or doors. These films are usually equipped with a continuous hole pattern perforated into the film to provide graphics visible from one side.
• Window film is essentially a thin laminate with an adhesive backing that is added to either the inside or outside of a window. It can be cut into almost any design and applied to windows or doors for various purposes - from printing corporate logos and marketing to designing fully customized walls. Window films offer privacy and protection against UV rays and even help manage thermoregulation of interiors, like corporate workspaces. Window films can be retrofitted to existing windows, which makes them an economical and speedy option.
• Wall and window graphics transform consumer experiences with interior and exterior designs. Several offices are incorporating graphic films to maximize their branding, promote new products and sales, improve workplace productivity and morale, entertain and inform customers, and enhance the corporate environment.
• Indoor wall wraps are gaining market traction, as most corporate buildings are redesigning their workspaces with these products. These wall wraps turn smooth indoor surfaces into artworks with a wide array of graphic films. Further, market players are capitalizing on this lucrative opportunity by offering printable films and finishes to colored films and other ancillary products, thus boosting their overall revenues.
• Graphic films are also used as paint protection films to protect the exterior components of vehicles for lowering the maintenance cost. The rising demand for graphic films to safeguard vehicles and for advertising in developed and developing economies may augment graphic films' growth in the automotive sector. For instance, US-based Mactac launched a new adhesive vehicle wrap for vendors looking to advertise their products and brands on trucks, buses, vans, and other vehicles.
• As per the company, the new proprietary adhesive enhances the ease of application of wraps. This easily-removable adhesive backs a gloss white soft calendered PVC film, which is highly suitable for color reproduction, and a poly-coated liner for stability during printing.

Graphic Film Market Trends

Automotive Sector is Expected to Witness Significant Growth

• In the automotive industry, graphic film applications include vehicle wraps, cut graphics, and cut deals. In contrast, to cut vinyl, vehicle wraps are large sheets of self-adhesive vinyl without a particular shape of their own. These wraps cover across entire panels of the vehicle. The large-scale adoption of graphic films or wraps in vehicles has been driven by the need for protective and advertisement purposes and to provide a better look at the vehicles. Also, per the Outdoor Advertising Association of America (OAAA), one vehicle wrap can generate between 30,000 and 80,000 impressions daily. Moreover, according to Scotiabank, worldwide car sales grew to around 66.7 million automobiles in 2021, up from approximately 63.8 million units in 2020.
• 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, the vehicle wraps cost USD 0.15 per cost of thousand impressions (CPM). In contrast, the billboards cost USD 1.78 per PCM, radios cost USD 5.92 per CPM, and prime TV spots cost USD 20.54 per CPM. Thus, the lower cost of advertisement drives the growth of the market studied across the automotive sector.
• Many companies, such as 3M, Avery Dennison, and Lintec, among others, are innovating and offering products to the major automotive players in the market. For instance, Spandex launched the 3M Wrap Film Series 2080, an improved color-change vehicle wrap material. The film can be easily removed after the application to reveal a smooth finish, and any scratch on the protective layer will not be transferred to the film itself.
• Further developments in the form of Reflective Films, which provide added safety or visibility and special effect markings, are enhancing the night visibility of the concerned fleet. Such films are therefore required to meet the federal guidelines for road safety. Likewise, Reflective Tapes as pressure-sensitive formats have been launched in the market featuring high-quality, micro-prismatic retroreflective materials for additional night-time recognition.
• As far as window tints or films are concerned, these basically serve a wide range of purposes, from personal privacy/security to fleet advertisements. For instance, 3M Automotive Window Films are available in different tint levels to restrict 95% of visible light for privacy among passengers. Its Obsidian Series, FX-Hp, and Ceramic IR Film are some of the window films offered for automotive applications.

Asia Pacific is Expected to Account for the Largest Market Share

• Growing demand for graphic films across the end-user industries, such as automotive, industrial, and e-commerce, is driving the market growth positively in the region. China is expected to hold a prominent share in Asia-Pacific. The increase may be attributed to high technological development, high disposable income, and good architecture and automotive industrial scenarios.
• The Chinese automotive industry has been growing rapidly, and the country plays an increasingly important role in the global automotive market. The government views its automotive industry, including the auto parts sector, as one of the prominent industries.
• Moreover, the Chinese government predicts that its automobile output may reach 35 million units by 2025. According to the IBEF, the Indian automotive industry is anticipated to reach USD 251.4-282.8 billion by 2026. Hence, growth in the automotive industry is expected to create scope for the market studied in the region. Moreover, rising interest in vehicle color change among consumers is anticipated to propel the demand for automotive wrap films in the region.
• The advertising industry in China has witnessed exponential development over the past few decades. Foreign brands and advertisements have become commonplace in the lives of the Chinese population today. Moreover, Chinese companies have been quick to adopt international advertising techniques and practices to create a huge impact on the domestic advertising market.
• Further, India is one of the fastest-growing construction markets in the region, and it is expected to spend around USD 13 trillion on the construction industry by 2030. The country's rapidly expanding population is generating significant housing project demand due to the increase in disposable income and urbanization. Over the forecast period, the growth of all the above end-user industries is expected to create opportunities for the market.

Graphic Film Industry Overview

The Graphic Film Market is fragmented and, at the same time, highly competitive. Key strategies that the major players in the market adopt are product innovation, mergers, and acquisitions to extend their reach and stay competitive in the market. Some of the key players in the market include 3M Company, E.I. Du Pont De Nemours and Company, FDC Graphic Films Inc., Avery Dennison Corporation, and Spandex AG, among others.

• February 2021 - Schweitzer-Mauduit International, Inc. announced its plans to acquire UK-based Scapa Group Plc, best-in-class innovation, design, & manufacturing solutions provider for healthcare & industrial markets. The company will bring a robust and profitable set of industrial, graphic film tapes used in construction, transportation, consumer, and industrial end-markets, complementing existing business.
• January 2021 - Drytac launched a new Polar Choice range of monomeric PVC films. It includes 6 products such as Gloss PB (permanent grey adhesive), Matte RB (removable grey adhesive), and Gloss P (permanent clear adhesive) under Polar Choice White. While under Polar Choice Clear, it offers Gloss P (permanent clear adhesive) and Gloss R (removable clear adhesive), and Polar Choice Air White Gloss PB (permanent grey adhesive).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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