|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD27.09 billion
|
|
CAGR
(2023-2028)
|
4.81%
|
|
Fastest
Growing Segment
|
Polyvinyl
Chloride
|
|
Largest
Market
|
Asia
Pacific
|
Market Overview
Global Graphic Film Market has valued at USD27.09 billion in 2022 and is anticipated to project robust growth in the forecast
period with a CAGR of 4.81% through 2028. The graphic film is a sheet or layer
made of polymer intensifiers used to effectively store a wide range of data,
labels, and product security information. It serves as a protective layer and
enhances the visual appeal of the product. These films are composed of various
materials such as polypropylene, polyvinylchloride, polyethylene, and more, and
are manufactured using flexography, rotogravure, and other printing methods.
The film substrate provides excellent water resistance and durability. Graphic
films are specifically designed for displaying visual representations of
variable information on their surface. They serve as an excellent means of
communication, informing and guiding customers about products and services, and
are widely used as customer engagement tools.Due to their significantly lower installation
costs, these films are in high demand across numerous sectors. Moreover, their
low maintenance requirement makes them suitable for the advertising and
promotional sector. The appealing texture of these films makes them ideal for
use as brochures and banners in advertising campaigns. Graphic films offer
several properties, including affordability, recyclability, and long-lasting
durability. Their protective properties make them suitable for various industries
such as automotive, electronics, pharmaceuticals, and construction, where they
contribute to creating distinctive appearances that enhance materials or
objects.
The Graphic Film Market has witnessed tremendous
growth due to the development of infrastructure and the rapid increase in
urbanization, leading to increased activities in the construction industry. The
continuous advancement in the film industry, expansion of novel manufacturing
techniques, and increased purchasing power have fueled the growth of this
market. Moreover, the lightweight nature, recyclability, cost-effectiveness,
high durability, and excellent printability of graphic films are some of the
key characteristics that have fostered the demand for these films. The growing
use of graphic films for making promotional and advertising banners, as well as
vehicle wraps in the automotive and advertising industries, is another major
factor expected to drive the growth of the graphic film market over the
forecast period.
The rising demand for wrap advertisements worldwide
is a key driver for the graphic film market. Companies use advertisements to
increase the consumption of their products and services, and fleet advertising
has emerged as one of the most effective and efficient marketing practices to
drive brand awareness and business growth. Vehicle advertising wraps, which are
large vinyl graphics applied directly over a vehicle's original paint, or
digitally printed mobile billboards, offer cost-effectiveness with a low cost
per thousand impressions (CPM) compared to other types of advertising media.
The brightness, longevity, lower cost, and ease of installation and removal of
vehicle wraps have contributed to the increased adoption of graphic films.
The increasing demand for bio-based plastics,
driven by low-cost raw materials and biodegradability, is believed to create
fruitful opportunities for manufacturers, thereby supporting the growth of the
graphic film market. Additionally, the expanding demand for digital graphic
films from the e-commerce industry is another key trend that is expected to
boost growth in the coming years. However, fluctuations in raw material prices
are expected to restrict market growth. Another significant factor limiting the
global graphic film market is the shorter lifespan of graphic films compared to
wall paints and colors.
In conclusion, the graphic film industry offers a
wide range of benefits and opportunities, from its versatility in data storage
and product security to its visual appeal and cost-effectiveness in
advertising. Despite some limitations, the market continues to grow due to
advancements in manufacturing techniques, increased urbanization, and the
demand for innovative communication and promotional tools.
Key Market Drivers
Growing Demand of Graphic Film in Automotive
Industry
Graphic films are highly versatile materials that
can be used to apply designs, text, or images to various surfaces, including
vehicles. They offer a wide range of benefits and applications that enhance the
aesthetic appeal, customization, and safety of vehicles.
In the automotive industry, graphic films have
become an integral part of vehicle wraps and decals. These films can be custom
designed to showcase brand logos, promotional messages, or creative artworks,
effectively transforming vehicles into eye-catching moving billboards. This
form of advertising has proven to be highly cost-effective and has a broad
reach, making it increasingly popular among businesses of all sizes.
Beyond advertising, graphic films also serve as a
powerful tool to enhance the overall aesthetics of vehicles. Car owners often
utilize these films to personalize their automobiles, showcasing their unique
styles and preferences. Whether it's a sleek matte finish, a vibrant color
scheme, or an intricate pattern, graphic films offer endless possibilities for
customization. The ability to personalize through graphic films adds value to
the customer experience and drives the demand for these materials.
In addition to their aesthetic appeal, graphic
films play a crucial role in enhancing vehicle safety. Reflective graphic
films, for example, are used to increase the visibility of vehicles at night or
in low-light conditions. By enhancing the visibility of vehicles, these safety
applications contribute to reducing the risk of accidents and improving road
safety. The use of graphic films for safety purposes further expands their
utility in the automotive industry.
Given the diverse range of applications and
benefits, it is no surprise that the demand for graphic films in the automotive
industry is steadily growing. This trend is further fueled by continuous
innovation in film production and printing techniques, allowing for more
advanced and durable graphic films. As a result, the global graphic film market
is experiencing significant expansion, driven by the automotive industry's
increasing adoption of these versatile materials.
Looking ahead, the growth of the graphic film
market is expected to continue, driven by ongoing technological advancements,
the rising popularity of vehicle customization, and the growing recognition of
mobile advertising's effectiveness. The automotive industry, being a
significant end-user segment, will likely continue to drive the demand for
graphic films in the foreseeable future.
In conclusion, the growing demand for graphic films
in the automotive industry is a key driver of the global graphic film market.
These versatile materials offer numerous benefits, ranging from advertising and
customization to safety enhancements. As the automotive industry continues to
embrace graphic films, their practical utility and aesthetic appeal will
continue to shape the future of vehicle design and marketing.
Growing Demand of Graphic Film in Construction
Industry
Graphic films are incredibly versatile materials
that offer a wide range of applications in the construction industry. These
films have become increasingly popular due to their adaptability and ability to
add designs, images, or text to various surfaces. In construction, they serve
both functional and aesthetic purposes, making them an essential tool for
builders and designers alike.
When it comes to aesthetics, graphic films can
transform the look of a building. They can be applied to windows, walls, and
other surfaces, adding vibrant colors, intricate patterns, or captivating images.
By doing so, these films contribute to the overall visual appeal of a
structure, creating a unique and eye-catching appearance that sets it apart
from the rest.
Furthermore, graphic films play a vital role in
branding within the construction industry. Construction companies can
prominently display their logos, company names, or promotional messages on
construction sites or finished buildings. This not only enhances visibility but
also helps establish brand recognition and reinforces the company's identity.
In terms of safety, graphic films offer practical
solutions. Reflective films, for example, can be used to mark hazardous areas
or create highly visible signage, reducing the risk of accidents. Additionally,
these films can be used to display important information such as directions,
warnings, or instructions, ensuring that crucial messages are clearly
communicated within the construction site.
The demand for graphic films in the construction
industry continues to rise, driven by advancements in film production and
printing techniques. As the industry recognizes the numerous benefits of these
materials, their applications are expanding. Innovations in graphic film
technology and design are expected to further fuel this growth, creating new
possibilities, and pushing the boundaries of what can be achieved.
In conclusion, the use of graphic films in
construction has become indispensable. Their versatility, ability to enhance
aesthetics, promote branding, improve safety, and provide vital information
make them an integral part of the industry. With the growing demand and
continuous advancements, the future of graphic films in construction looks
promising, ensuring the market's sustained growth and development.
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Key Market Challenges
Volatility in Prices of Raw Materials
Raw materials, such as polyvinyl chloride (PVC),
polypropylene (PP), and polyethylene terephthalate (PET), play a vital role in
the production of graphic films. These materials are the building blocks that
contribute to the quality and performance of the final product. However, the
cost of these raw materials is a significant factor that affects the overall
production cost of graphic films.
The prices of these raw materials are subject to
fluctuations influenced by a multitude of factors. Changes in supply and
demand, geopolitical events, natural disasters, and economic policies all
contribute to the volatility in raw material prices. For example, if there is a
disruption in the supply chain due to geopolitical tensions or natural
disasters, the prices of these raw materials can surge. Conversely, changes in
economic policies or shifts in demand can lead to price drops.
This inherent price volatility creates uncertainty
for graphic film manufacturers, making it challenging for them to accurately
forecast costs and efficiently plan their budgets. Moreover, it can result in
increased production costs, which manufacturers may pass on to consumers in the
form of higher prices.
The impact of price volatility extends beyond the
manufacturing process and affects the global graphic film market as a whole.
Increased raw material costs can squeeze profit margins for manufacturers,
potentially discouraging new players from entering the market and limiting the
ability of existing companies to invest in research and development.
Furthermore, if manufacturers opt to pass on the
increased costs to consumers, the higher prices could potentially dampen the
demand for graphic films, especially in cost-sensitive markets. This, in turn,
could slow down the growth of the global graphic film market.
Given these complexities, it becomes crucial for
graphic film manufacturers to closely monitor and adapt to the ever-changing
dynamics of raw material prices. By doing so, they can effectively navigate the
challenges posed by price volatility and maintain a competitive edge in the
market.
Key Market Trends
Surge in Technological Advancements
In recent years, the graphic film sector has
experienced a rapid surge of technological innovations that have revolutionized
the industry. These advancements have not only enhanced the quality,
durability, and versatility of graphic films but have also made them
increasingly appealing to a wide range of end-user industries, including
automotive, construction, advertising, and more.
One of the key technological advancements in the
graphic film sector is the development of advanced printing techniques. These
cutting-edge printing methods have enabled the creation of more intricate and
vibrant designs, elevating the visual appeal of graphic films for advertising
and branding purposes. With the ability to produce detailed and eye-catching
graphics, graphic films have become an indispensable tool for businesses
looking to make a lasting impression.
Moreover, the introduction of new film materials
and improved adhesive formulations has significantly contributed to the
durability and ease of application of graphic films. These advancements have
expanded the range of surfaces on which graphic films can be used, making them
suitable for various applications beyond traditional signage. From vehicle
wraps to architectural finishes, graphic films now offer limitless
possibilities for creative expression.
The impact of these technological advancements on
the global graphic film market has been monumental. The demand for graphic
films has soared, driven by the increased versatility and superior quality
offered by these innovations. As a result, the graphic film market has
witnessed remarkable growth, with more industries recognizing the value and
benefits of incorporating graphic films into their operations.
Looking ahead, the trend of technological
advancements in the graphic film industry shows no signs of slowing down.
Companies continue to invest in research and development, striving to bring
even more innovative solutions to the market. This ongoing innovation promises
to further enhance the capabilities of graphic films, unlocking even more
applications and driving sustained growth in the market.
In conclusion, the surge of technological
advancements is a defining trend in the global graphic film market. These
innovations have elevated the quality, versatility, and demand for graphic
films, offering new opportunities for their use across various industries. As
the industry continues to evolve, technological advancements will remain a key
driver of growth, shaping the future of the global graphic film market.
Segmental Insights
Polymer Insights
Based on the category of polymer, the polyvinyl
chloride segment emerged as the dominant player in the global market for Graphic
Film in 2022. Polyvinyl Chloride (PVC) packaging films are attracting
increasing attention due to their remarkable flexibility. These films find
applications in a wide range of packaging formats, including both rigid and
flexible packaging solutions. Renowned for their durability, strength, and
versatility, PVC films are a cost-effective choice for various industries.
Additionally, these films exhibit excellent resistance to abrasion, shock,
chemicals, and extreme environmental temperatures, ensuring reliable protection
for packaged goods. With their exceptional properties, PVC packaging films have
become an indispensable choice for packaging needs across diverse sectors.
End User Insights
The Promotional & Advertisement segment is
projected to experience rapid growth during the forecast period. The market for
graphic films is experiencing significant growth due to the high investment
made by companies. These films play a crucial role in facilitating effective
communication of marketing messages, enabling businesses to convey their brand
identity and engage with their target audience. With their visually appealing
and attention-grabbing nature, graphic films have become an indispensable tool
for enhancing the visibility and impact of marketing campaigns. As companies
continue to recognize the value of these films in capturing consumer attention,
the demand for graphic films is expected to further increase in the future.
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Regional Insights
Asia Pacific emerged as the dominant player in the Global
Graphic Film Market in 2022, holding the largest market share in terms of value.
The demand for graphic film is expected to experience significant growth, particularly
in developing economies such as Japan, India, China, South Korea, Australia,
New Zealand, ASEAN countries, and the rest of APAC. The Asia Pacific region, in
particular, holds immense potential for the graphic film industry. This growth
can be attributed to several factors, including the increasing popularity of
e-commerce sites, the expansion of the advertising and marketing industry, the
rising incomes of the populace, and the high demand for graphic films in the
automotive sector.
Furthermore, the market growth is anticipated to be
driven by the demand for graphic film for personalized gifts. As e-commerce
continues to thrive, the adoption of graphic films for personalization printing
is expected to further boost the market. However, it is worth noting that the
unorganized market structure poses a major challenge to the graphic film
industry. This structure affects the growth potential and revenue generation.
Many customers are opting to purchase graphic films from local vendors who
offer them at more affordable rates, which further contributes to the
complexity of the market dynamics.
Recent Developments
In February 2021, Schweitzer-Mauduit International,
Inc. made an exciting announcement regarding its plans to acquire Scapa Group
Plc, a renowned UK-based company that specializes in providing innovative
design and manufacturing solutions for the healthcare and industrial markets.
This strategic move will further enhance Schweitzer-Mauduit International's
position in the industry by adding Scapa Group's exceptional portfolio of
industrial, graphic film tapes used in various sectors such as construction,
transportation, consumer goods, and industrial applications. The acquisition
will not only strengthen Schweitzer-Mauduit International's existing business
but also contribute to its profitability and overall growth.
Moving back to January 2021, Drytac introduced the
highly anticipated Polar Choice range of monomeric PVC films, which garnered
significant attention in the market. This new range comprises six exceptional
products, including Gloss PB with a permanent grey adhesive, Matte RB with a
removable grey adhesive, and Gloss P with a permanent clear adhesive, all
available under the Polar Choice White category. Additionally, under the Polar
Choice Clear category, Drytac offers Gloss P with a permanent clear adhesive,
Gloss R with a removable clear adhesive, and Polar Choice Air White Gloss PB
with a permanent grey adhesive. These new additions to the Polar Choice range
provide customers with a diverse selection of high-quality films suitable for a
wide range of applications.
Key Market Players
- Avery Dennison Corporation
- 3M
Company
- E. I. du
Pont de Nemours and Company
- CCL
Industries, Inc
- Amcor
Limited
- Constantia
Flexibles Group GmbH
- DUNMORE Corporation
- Hexis
S.A.
- Cosmos
Films Ltd
- Schweitzer-Mauduit
International Inc.
|
By Polymer
|
By
Technology
|
By End User
|
By Region
|
- Polypropylene
- Polyethylene
- Polyvinyl
Chloride
- Others
|
- Flexography
- Rotogravure
- Offset
- Digital
|
- Automotive
- Promotional
& Advertisement
- Industrial
- Others
|
- North
America
- Europe
- Asia Pacific
- South
America
- Middle East
& Africa
|
Report Scope:
In this report, the Global Graphic Film Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Graphic Film Market, By Polymer:
o Polypropylene
o Polyethylene
o Polyvinyl Chloride
o Others
- Graphic Film Market, By Technology:
o Flexography
o Rotogravure
o Offset
o Digital
- Graphic Film Market, By End User:
o Automotive
o Promotional & Advertisement
o Industrial
o Others
- Graphic Film Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
§ Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global
Graphic Film Market.
Available Customizations:
Global Graphic Film Market report with the given
market data, Tech Sci Research offers customizations according to a company's
specific needs. The following customization options are available for the
report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
Global Graphic Film
Market is an upcoming report to be released soon. If you wish an early delivery
of this report or want to confirm the date of release, please contact us at [email protected]