New York, US, Feb. 23, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Automotive Labels Market Research Report Information By Type, By Raw Materials, By Application And By Region - Forecast Till 2030”, Between 2022 and 2030, the automotive labels industry is projected to grow in size. Throughout the anticipated period, the market would expand at a CAGR of 4.7%. In 2022, the market for automotive labels was worth US$7,290.5 million.
Automotive Labels Market Research Insights
Giving a product a catchy name in order to set it apart from competing goods or brands is known as labeling. Automotive labels are used in the automobile sector to set a brand apart from rivals and create a market image. They are also used for informational and safety purposes to distinguish between various sections.
In the next few years, the automotive labels market industry is anticipated to be driven by the growing need for automobiles in the automotive sector as well as the increased demand for smart labels like RFID and barcodes for automotive part identification, information, and safety. Moreover, the market is anticipated to rise in the approaching years due to expanding data sets, security and safety concerns, and increasing urbanization.
Key Players
- Resource Label Group
- Computer Imprintable Label Systems Ltd.
- 3M Company
- Avery Dennison Corporation
- Brady Worldwide Inc.
- H.B. Fuller
- Among others.
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Throughout the anticipated period, the market is also anticipated to benefit from stricter automobile labeling regulations and increased demand for ecologically friendly label production methods. There are some limitations and difficulties that might impede market expansion. Market restrictions may be caused by variables in mandates and raw material prices, for example.
Automotive Labels Market Competitive Analysis
The competitive landscape of the automotive labels market is concentrated as a result of the small number of suppliers that control the bulk of the market share. Large firms are concentrating on growth and investment to increase their commercial operations in quickly developing regions like Asia-Pacific. Strategic alliances and acquisitions are viewed as the most lucrative route to attaining the largest possible market share since businesses are still spending in R&D to create goods and solutions that fulfill consumer wants.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | USD 10,527.63 million |
| CAGR during 2022-2030 | 4.7% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Advancements in Technology |
| Key Market Dynamics | Increasing demand for automotive labels |
| Segments Covered | Type, Raw Materials, Application and Region |
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Automotive Labels Market Trends
Drivers and passengers can get operational and use information, such as safety procedures and details about potential risks, via the warning and safety labels. This information lessens liability worries while enhancing security.
The market for automotive labels may witness substantial demand throughout the projected period as a result of rising car demand among the world's population and enhanced security and tagging for protecting items from various brands.
Moreover, both a labeling error and a malfunctioning component carry a significant risk of serious damage. To avoid dangerous situations and safeguard employees and passengers, clear, effective warnings are crucial.
Due in part to the decrease in counterfeiting that the warning and safety labels contribute to, the usage of these labels in the automobile sector is anticipated to increase. Suppliers provide labels that shield brands from dealing with the counterfeiting problem.
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Automotive Labels Market Segmentation
The Asset Labels, Branding Labels, Dome Labels, Warning & Safety Labels, and Others segments make up the Automotive Labels Market. Asset labels are anticipated to command the greatest market share in terms of market value, whilst warning and safety labels are anticipated to command the highest market share in terms of market volume. Warning and safety labels offer usage and operating guidance, safety precautions, and details on potential risks. Equipment is identified by a special serial number, code, or barcode on asset labels.
Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl chloride (PVC), and Others are the different categories under which Automotive Labels are divided. The tight labeling regulations for autos and the rising number of vehicles on the road globally are anticipated to increase market demand.
Engine Component Labels, Exterior Labels, Interior Labels, and Others make up the automotive labels category. The market for exterior labels is anticipated to increase the most. On components of a vehicle that are visible from the outside, exterior labels are employed.
Automotive Labels Market Regional Analysis
The market is divided into North America, Europe, Asia-Pacific, and the Rest of the World in the report. Broadly speaking, Europe is anticipated to have a sizable market share.
The North American Automotive Labels Market is anticipated to expand rapidly as a result of considerable technological changes in the region. Moreover, it is anticipated that both existing and rising businesses would support market expansion.
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The need for vehicle branding is also significantly influenced by the presence of big manufacturers in the area and their partnerships with small local firms to enhance distribution.
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