The demand within the global market for graphic films has been rising on account of advancements in the field of wall designing and aesthetics, finds Transparency Market Research (TMR). Graphic films are made out of materials that can be drawn into thin sheets, and are mostly emblazoned with attractive designs. The market vendors operating in the global market for graphic films have been capitalising on building a robust consumer base across the globe. In this quest, the leading vendors have resorted to the use of new and attractive marketing hacks. The leading vendors have a sound amount of budget for marketing and promotions, and this gives them an edge over the smaller vendors.
The new vendors in the global graphic films market are constantly under the threat of being overpowered by the mammoth-sized vendors. The leading vendors are projected to resort to acquisitions in order to expand their geographical reach across the global graphic films market. Furthermore, the need for manufacturing high-quality graphic films has compelled the vendors to invest in core research, development, and manufacturing. It is safe to expect to that the competition within the global graphic films market would increase by leaps and bounds in the years to follow. Some of the key vendors in the global graphic films market are E. I. du Pont de Nemours and Company, Avery Dennison Corporation, and Constantia Flexibles Group GmbH.
Transparency Market Research (TMR) finds that the global market for graphic films would expand at a steady CAGR of 5.30% over the period between 2017 and 2022. The market for graphic films is projected to touch a total worth of US$33.7 bn by 2022-end, rising up from a value of US$26.0 bn in 2017. On the basis of geography, the market for graphic films in North America is projected to accumulate voluminous revenues.
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Use of Graphic Films for Banner Advertisements to Propel Demand
The most popular use of graphic films is in the constructions industry, and this factor has played a major role in market growth. Graphic films are often glued on walls of malls and shopping centers to promote certain products or services. Furthermore, graphic films largely add to the aesthetics of a building, and this factor has led to increased adoption of such films. The use of graphic films in multiple industries including healthcare, banking, and residential spaces has played a pivotal role in market growth.
Increased Demand for Painted Walls to Hamper Growth
Graphic films are often used to substitute paints and distempers on walls and other areas. However, the rising demand for painted designs on walls could hamper the growth of the global market for graphic films. Moreover, the life of graphic films is shorter than oils and colours painted on walls. This factor could also act as a roadblock to the growth of the global market for graphic films. Nevertheless, the increasing use of graphic films across malls, residences, and shopping alleys is expected to keep enhancing the prospects of growth within the global market.