The global automotive labels market is likely to be valued at US$ 7,603.99 million in 2023 and is predicted to secure a slow-paced CAGR of 4.3% during the forecast period. The market is expected to be worth US$ 11,584.7 million by 2033.
According to Future Market Insights’ data, the historical CAGR was 3.5%. According to definitions, labelling is the process of giving things brief names to distinguish them from one another or other brands. Automotive labels are used in the industry to distinguish brands from one another and build a reputation for themselves.
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Recent Development
A recent development identified in the automotive labels market is:
- In March 2019, Linker announced the launch of its service to deliver AI-based auto-labeling with continuous learning for the autonomous driving industry. Linker’s auto-labeling technology is integrated with Microsoft Azure cloud services and is designed to deliver a seamless and scalable solution to pre-process datasets used for machine learning in vertically integrated industries such as autonomous driving.
Some of the biggies revolutionizing the automotive labels market are:
- 3M
- Adhesive Research, Inc.
- AVERY DENNISON CORPORATION
- CCL Industries
- Dunmore
- H.B. Fuller Company
- Imagetek Labels
- Lewis Label Products Corporation
- Sika AG
- UPM Raflatac
Driving Factors Propelling The Market Growth For Automotive Labels
A large number of factors are contributing majorly to the expansion of the automotive labels market, which is likely to fuel a steady growth of the concerned market in the coming years.
Automotive labels manufacturers provide a wide range of labelling mechanism which includes heat transfer labelling, pressure sensitive labelling, glue applied labelling, in-mold labelling and some other mechanisms. Automotive labels are durable and manufactured with UL listed vinyl and polyester label face sheet and many other adhesive combinations that make the label work for long term applications.
The automotive labels can be wrapped around the container for tamper evident safety. An attractive automotive label adds to the brand awareness of the product. Therefore manufacturers continue to provide eye catching labels to compete in automotive after-market stores.
Key Segments In The Automotive Labels Market
By Material Type:
- Polyethylene (PE)
- Polyethylene terephthalate (PET)
- Acrylonitrile butadiene styrene (ABS)
- Polypropylene (PP)
- Polyvinyl chloride (PVC)
- Polycarbonate (PC)
- Others
By Mechanism:
- Glue applied labels
- Pressure-sensitive labels
- Heat transfer labels
- In-mold labels
- Others
By Application:
- Engine components
- Interior
- Exterior
Others
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