The market for graphic film is projected to grow from USD 23.05 Billion in 2016 to USD 31.10 Billion by 2022, at a compound annual growth rate (CAGR) of 5.17% from 2017 to 2022. The base year considered for the study is 2016 and the market size is projected from 2017 to 2022.
"Graphic Film Market by Polymer (PVC, PP, PE), Film Type (Opaque, Reflective, Transparent, Translucent), End Use (Promotional & Advertisement, Industrial, Automotive), Printing Technology (Digital, Rotogravure), and Region - Forecast to 2022", The graphic film market will grow from USD 24.17 Billion in 2017 to USD 31.10 Billion by 2022, at a compound annual growth rate (CAGR) of 5.17% from 2017. The growing market for promotional banners and wrap marketing are major driving factors for growth in the graphic film market.
Along with the same, growth of the automotive and construction market will lead to growth of the graphic film market.
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Promotional & advertisement segment to gain maximum traction during the forecast period
In terms of end use, the promotional & advertisement segment accounted for the largest share.
Promotional & advertisement banners are widely globally for attracting consumers and for making brand awareness; it thus accounts for the largest market share. The automotive segment accounted for the second-largest market share, as there is a growing trend of wrap marketing in the US, the UK, and Germany.
Polyvinyl chloride segment, by polymer, projected to be the fastest-growing during the forecast period
On the basis of polymer, the polyvinyl chloride segment accounted for the largest share of the market. This segment is witnessing high growth due to its ease of printing, flexibility, high durability, recyclability and a large number of application areas.
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Asia Pacific region constitutes the largest share in the graphic film market
Asia Pacific accounted for the largest market for graphic film. This is a developing market due to the rapid urbanization, increase in disposable income, growth in economy, and growth in FDI.
China accounted for the largest country-level market for graphic film, globally. This growth can be attributed to technological developments, rise in population, and high disposable incomes of consumers.
The global market for graphic film is dominated by large players such as Avery Dennison Corporation (US), 3M Company (US), E. I. du Pont de Nemours and Company (US), CCL Industries (Canada), Constantia Flexibles Group (Austria), Hexis S.A.
(France) , and DUNMORE Corporation (US). These players adopted various strategies to expand their global presence and increase their market share.
Mergers & acquisitions, agreements & expansions, and new product launches are some of the major strategies adopted by market players to achieve growth in the graphic film market.
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