Automotive Labels Market Overview:
The automotive labels market is garnering excellent traction witnessing considerable uptake worldwide. Automotive labels are increasingly used to provide product information, identification, instruction for usage, as well as for advertising purposes. The market growth attributes to the spurring rise in the automotive sector requiring advanced labeling technology to deliver solutions encased in the rising numbers of vehicle production.
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Major Players
Players leading the automotive labels market include Avery Dennison Corporation (US), 3M (US), UPM-Kymmene Corporation (Finland), Sika AG (Switzerland), H.B. Fuller (US), CCL Industries Inc. (Canada), Dunmore (US), Barry-Wehmiller Companies Inc. (US), Precision Contract Manufacturing (US), and Lewis Labels Products Corp. (US).
Besides, the growing automotive labels market demand due to the significantly improved technologies that play a causal role in fielding the next generation of vehicles having electric powertrains and help consumers identify the right recharging option with standardized labels drive the market growth. Additionally, technological advancements and constant investments in R&D activities provide huge impetus to the automotive labels market growth.
With the augmenting demand, the market is projected to garner enormous traction. In this regard, Market Research Future (MRFR), in its recent automotive labels market research, asserts that the market is projected to perceive a notable increase by 2027, registering a striking CAGR during the anticipated period (2020 – 2027).
New harmonized labels in line with the requirements of the government directive on the deployment of alternative fuels infrastructure for electric vehicles and charging stations are used throughout the world. Rising innovation in bonding solutions with functional properties, such as flame retardance and dielectric strength, enables EV battery and component manufacturers to tailor adhesives to the application while eliminating the cure times and equipment required with liquid adhesives.
Conversely, volatility in the price and demand-supply gap in raw materials required for production are some of the major factors hindering the growth of the market. Nevertheless, the rapid automation and digitalization across the automotive sector and increase in investments would support the growth of the automotive labels market, accelerating the demand for the product.
Global Automotive Labels Market – Segments
The automotive labels market analysis is segmented type, material, identification technology, printing technology, mechanism, and region. The type segment is sub-segmented into warning & safety, asset, branding, dome, and other labels. The material segment is sub-segmented into polypropylene (PP), polyethylene (PE), polyethylene terephthalate (PET), polyvinyl chloride (PVC), polycarbonate (PC), and others.
The identification technology segment is sub-segmented into barcode, RFID, and others. The printing technology segment is sub-segmented into flexography, offset, digital printing, screen printing, and others. The mechanism segment is sub-segmented into pressure-sensitive, heat transfer, and others.
Automotive Labels Market – Regional Analysis
Asia Pacific leads the global automotive labels market share. The largest market share attributes to the increasing demand for smart labels and environmental concerns for efficient label production techniques in this region. China and India are key markets possessing great potential for the automotive labels market in the region.
Moreover, growing automotive activities and enhancing the purchasing power of the consumers and changing lifestyles led by the rapidly developing economy in the region create enormous opportunities.
Europe accounts for the second-largest automotive labels market share globally. The presence of major OEM brands, such as Aston Martin, BMW, Mercedes Benz, and Jaguar, boosts the region’s automotive labels market size. Germany and Italy account for the largest automotive labels market size in the region.
North America accounts for a sizable share in the global automotive labels market. Factors contributing to the automotive labels market growth are stringent regulations, rising demand for sustainable packaging, and the growing demand for environment-friendly vehicles in the region.
Global Automotive Labels Market – Competitive Analysis
Highly competitive, the automotive labels market appears to be fragmented due to the presence of numerous large and small-scale players. Focusing on the competitive edge, automotive label manufacturers strive to develop products that can deliver optimal adhesion, convenience, and reliability.
Making the most from their international and regional presence, these manufacturers assure their customers with consistency in the product quality. Manufacturers strive to develop a product portfolio with a wide range of automotive labels.
Industry/ Innovation/ Related News:
Feb 23, 2021 ---- TEKLYNX International, a leading global barcode & RFID labeling software developer, launched enterprise label management software TEKLYNX CENTRAL. The new solution would help Nemak, a leading provider of innovative lightweight automotive components, automate label printing from SAP integration to eliminate manual errors and achieve a 98% improvement in labeling accuracy.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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