Global Automotive Labels Market Information Report by Purpose (Asset labels, dome labels), by Mechanism (In-mold, Heat transfer), by Identification (Hologram, Barcode), by Application (Chassis labels, Interior labels) and by Region – Global Forecast to 2022
3M (U.S.), Avery Dennison Corporation (U.S), UPM-Kymmene Corporation (Finland), H.B. Fuller (U.S.), Sika AG (Switzerland), CCL Industries Inc. (Canada), Barry-Wehmiller Companies Inc. (U.S), Dunmore (U.S.), Lewis Labels Products Corp. (U.S), Precision Contract Manufacturing (U.S) and others and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Labels Market.
Automotive Labels Global Market – Overview
The Global Automotive Labels Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Automotive Labels will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).
Global Automotive Labels market is expected to register a CAGR of about 5% during the forecast period, to reach USD 8.05 Billion by 2022.
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A Label is used to identify information written or printed on a piece of paper, cloth, polymer or other materials and attached to an article. Labels used in automotive industry are tough to stand up against harsh environments and provides identification, dating, usage information and security to assure customers that they are getting original manufacturer’s quality products. The market for automotive labels market is growing due to increasing demand for smart labels such as Barcode and RFID in automotive industry for automotive part’s safety, identification and information. Increasing demand for eco-friendly label production techniques is also a major driving factor for the growth of automotive labels market. However, rising raw material cost of labels act as a restraint in the growth of automotive labels market.
The Automotive Labels market is completely dependent on the automobile industry. Thus, the increasing or decreasing demand of the automotive industry directly has an impact on the market. The total volume of four wheeler production, across the globe, in 2015, was almost 90 million units and is expected to witness further boost, and reach more than 100 million units, by the year 2020. Moreover, the increase in the sales of new vehicles has mainly been because of competitive and diverse options available for finance. The availability of finance has eased the purchase of vehicles, due to which there has been a rise in the use of Automotive Labels. Another factor responsible for the increase in vehicle sales is the macroeconomic development and the rise in the global middle class consumers. This is the primary factor that drives the growth of the Automotive Labels market and has gained prevalence in the recent times, with technological developments and rapidly increasing disposable income among consumers. Thus, the growth of the Automotive Labels market is expected to go hand in hand with the growth of automotive industry.
The global Automotive Labels market is expecting a potential growth in the coming years. The factors that influenced the demand for Automotive Labels are booming automotive industry, expansion of global players into emerging nations and growing urbanization. On the other hand, the major trends and opportunities in the market are combination of Automotive Labels and the emerging economies. The major challenges and that can restrain the market growth are the availability of substitutes, pricing pressure and strict government regulations for certification of Automotive Labels.
The automotive industry requires significant initial investment, in general. Such high technological and capital requirements create certain barriers for the smaller players in the market to even exist. Availability of sophisticated technologies in regions such as North America and Europe has propelled the demand of the Automotive Labels, across their countries and territories. Existence of major manufacturers in these regions along with their partnerships with the small local players, over the years, has deepened the scope of the market in these regions. Although, of late, there has been a significant influx of technology in the Asia-Pacific region, the lack of major market players and underdeveloped automotive infrastructure has resulted in alienating certain geographies, particularly the African and Middle East region.
These developing regions remain an untapped market for the Automotive Labels and market players alike. With their developing economies and domestic income, there is a huge potential for the market, in these regions. The sheer volume of the untapped customer base in these regions is a factor that acts as a major restraint for the market growth. Thus, the lack of the presence of any major market players and initiatives in these regions is expected to act as a major hurdle for the global market.
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Industry/ Innovation/ Related News:
January, 2015 – Rafsec Ltd., a part of UPM-Kymmene Corporation, is increasing its investment in the development of smart label technologies. Rafsec’s goal is to strengthen its position as a global technological leader in the smart label business and contribute to the growth of the industry by investing heavily in technologies that will help lower the price of smart labels. With this purpose in mind, Rafsec has formed a strategic alliance with the California-based Alien Technology Corp. UPM-Kymmene Corporation has simultaneously made an investment in Alien Technology. Alien Technology has developed technology that paves the way for a significant reduction in the size of smart label microchips as well as a cost-effective method of attaching them to the antenna.
January, 2016– CCL Industries Inc., a world leader in specialty label and packaging solutions for global corporations, small businesses and consumers, announced that it has acquired Mabel’s Labels, Inc. and Mabel’s Labels Retail, Inc., privately owned companies with common shareholders, based in Hamilton, Ontario, Canada. Mabel’s Labels is a well-known North American brand for durable, personalized identification labels for children and families. Fiscal year end March 31, 2016 sales are forecasted to be $9.5 million, with an adjusted EBITDA of approximately $2.8 million for the combined entities..
Automotive Labels Market – Segmentation
The Global Automotive Labels Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Purpose : Comprises Asset labels, dome labels.
Segmentation by Mechanism : Comprises In-mold and Heat transfer
Segmentation by Application : Comprises Chassis labels, Interior labels
Segmentation by Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Automotive Labels Market: Regional Analysis
Asia Pacific is projected to be the largest market for Automotive Labels and is expected to be leading the market by the end of the forecasted period due to increasing demand of smart labels and environmental concerns for efficient labels production techniques in this region. Developing countries such as China, South Africa, Brazil and India are the key markets possesses great potential for automotive labels market in the Asia Pacific region.
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