The Automotive Labels Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Automotive Labels Industry highlights the future prediction and the growth alternatives that can be created.
As COVID-19 breakthrough and its fears are blowing up, Market Research Future finds in its study that the global Automotive Labels Industry might see a bright future and expand at a CAGR of approximately ~5.5% during the forecast period 2018-2025. Despite the long-term impact of COVID-19, the market would reach a valuation of USD 10 billion by 2025
Top Impacting Factors
Automotive labels manufacturers offer a wide range of labeling mechanism that includes pressure-sensitive labeling, heat transfer labeling, in-mold labeling, glue applied to the label, and some other mechanisms. The global Automotive Labels Industry is witnessing development, amid COVID-19 spread because of the critical interest for labels and changing technical dynamics for smart labels and active labels during the assessment period.
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The rising demand for radio frequency identification (RFID) labels and high growth in sprouting economies are significant drivers of the Automotive Labels Industry, finds MRFR. The demand for eco-friendly label production techniques is also a significant factor driving the Automotive Labels Industry. The Automotive Labels Industry is mounting at an extensive rate owing to the expanding requirement for smart labels such as RFID and bar code for identification, information, and safety of automotive parts in the automotive industry.
Automotive Labels Industry witlessness various prominent trends such as rising demand for radio frequency identification (RFID) labels, high growth in developing economies, and latest technological developments in dermatology devices. These factors have motivated the market’s growth for the forecast period.
On the contrary, the factor of mounting raw material cost of labels, for instance, resins, metals, colors, and polymers, acts as a restraint to the Automotive Labels Industry’s growth for the forecast period.
Top Market Players
The high-flying players operating in the global Automotive Labels Industry are listed as Avery Dennison Corporation (US), 3M (US), H.B. Fuller (US), UPM-Kymmene Corporation (Finland), CCL Industries Inc. (Canada), Sika AG (Switzerland), Dunmore (US), Barry-Wehmiller Companies Inc. (US), and Precision Contract Manufacturing (US).
Segmentation of Market: Automotive Labels
The global Automotive Labels Industry has been segmented over type, material, identification technology, printing technology, and mechanism.
In terms of type segment, the global market has included assets, warning & safety, dome, branding, and other labels.
In terms of material segment, the global Automotive Labels Market has included polyethylene (PE), polypropylene (PP), polycarbonate (PC), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and others.
In terms of identification technology segment, the global market comprises of RFID, barcode, and others.
In terms of printing technology segment, the global market included offset, flexography, screen printing, digital printing, and others.
In terms of the mechanism segment, the global market has included heat transfer, pressure-sensitive, and others.
In terms of vehicle type segment, the global market has included passenger cars and commercial vehicles.
Geographically, the global market is further studied among the major regions, namely, Europe, North America, Asia-Pacific, and the rest of the world.
The region of Asia-Pacific might become the largest market for automotive labels and is likely to lead the market by the forecasted period owing to the escalating demand of smart labels and environmental concerns for efficient labels production techniques in this region. The developing countries such as China and India are the main markets that possess great potential for Automotive Labels Industry.
On the same side, the North American region is growing at a substantial rate over the forecast period. The factors attributed to the expansion of this market in the region are rising demand for sustainable packaging, stringent regulations, and the increasing demand for environment-friendly vehicles.
In the last, the European regional market is projected to acquire the second-largest position in the global market over the assessment period. The existence of major OEM brands, such as Aston Martin, BMW, Jaguar, and Mercedes Benz, is contributing to the development of this market in Europe.
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