The global automotive labels market is likely to be valued at USD 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 USD 11,584.7 million by 2033. A historical CAGR of 3.5% has been recorded during the analysis by Future Market Insights.
| Report Attribute | Details |
|---|---|
| Automotive Labels Market Value (2023) | USD 7,603.99 million |
| Automotive Labels Anticipated Value (2033) | USD 11,584.7 million |
| Automotive Labels Projected Growth Rate (2023 to 2033) | 4.3% |
Labeling is identified to be the procedure of assigning short names to the products for differentiating them from one another or other brands. Automotive labels are used in automotive for brand recognition to differentiate them from others and create a brand image in the market.
Custom automotive labels are also being used for the identification of the different parts for information and safety concerns. There is a rising demand for smart labels like RFID and bar codes for automotive’s part identification.
Moreover, the rising usage of automobiles and the increase in tagging and security markets to secure the products are the prime factors driving the growth of the automotive labels market. Therefore, it is anticipated that the automotive labels market is likely to witness significant growth during the forecast period.
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Many 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.
Recognition of information: Automobile labels are used for recognizing information written or printed on a cloth, polymer, paper, or other material attached to a particular vehicle’s parts. These labels are manufactured to withstand harsh weather conditions and provide identification, safety, usage information, and dating for consumer verification.
These labels are manufactured with acrylic films available in white lettering or black lettering. Thus, the ability of these labels to withstand any weather and the customized design requirements are anticipated to bring extensive growth to the automotive labels market.
Rising Disposable Income: There is a rise in the disposable income of many individuals around the globe, which has accelerated the sales of vehicles across the globe, further bolstering the demand for automotive labels.
Furthermore, the expanding urbanization among the various regions is also pushing the growth of the automotive labels market to a great extent.
Expanding Vehicle Adoption: The expanding demand for vehicles among the global populace, coupled with an increase in security and tagging for securing products from various brands, may bring considerable demand for the automotive labels market during the forecast period.
Demand for Eco-friendly Labels: The high adoption of eco-friendly labels is expected to drive the growth of the automotive labels market. Automobile manufacturers are aiming towards minimal harm to the planet with the use of eco-friendly materials.
This factor is pushing the manufacturers in the automotive labels market to research more on manufacturing automotive labels using eco-friendly materials, which may bring a substantial expansion in the automotive labels market.
Although several market drivers have been identified for the automotive labels market, some aspects are projected to curb the market growth during the forecast period. They are:
High Cost of Label Manufacturing: It is anticipated by the experts of FMI that there is a very high cost associated with the manufacturing of automotive labels, which may serve as a hindrance to the propelling market. Due to their expensive price tags, small and medium-sized automobile manufacturers cannot afford these labels.
Errors While Printing: In certain instances, errors occur during the printing of material and human errors during input, coupled with changes in the technological changes in industry, which is expected to slow down the pace of market growth for automotive labels.
North America:
| Region | North America |
|---|---|
| Market Share | North America is projected to hold the maximum shares and dominate the automotive labels market in the upcoming years. Current Market Share Holding: 34% |
| Factors Responsible for Growth |
|
Europe:
| Region | Europe |
|---|---|
| Market Share | Europe is expected to follow North America and hold the second-leading share in the global automotive labels market, with a slow and steady rise over the period. Current Market Share Holding: 28% |
| Factors Responsible for Growth |
|
The new entrants to the automotive labels market are indulging in collaborations and continually making innovations to the materials and manufacturing procedures of automotive labels to further fuel the adoption of the labels on a wide scale.
Top Start-up to Watch
Localize
Canada-based Start-up
Consumers are demanding more information about what they are buying but seeking less on-pack clutter that confuses their purchasing decisions. QR codes, RFID, NFC tags, and other examples of embedded electronics provide all the necessary information about a product in an interactive form: where it has come from, how it was produced, its nutritional value, etc.
Localize develops a system of managing, capturing, and delivering traceable and certified product information. Their shelf tags enable manufacturers to provide consumers with affordable, smart, and adaptable labels.
Avery Dennison
United States-based Start-up
With the rising need for intelligent labels, sustainability, compliance, and functional labels increased. For today’s fast-paced automotive industry, Avery Dennison is manufacturing durable RFID labels that can meet the requirements and rigors of manufacturing, coupled with long-term use. They offer a full suite of labeling solutions for the automotive industry.
The automotive labels market has numerous players involved in fierce competition for clenching a sizeable consumer base. The players invest extensively in research and development activities for increasing their consumer base by introducing labels with new and advanced materials.
The players are indulging in these collaborations to expand their influence across untapped regions.
Recent Development Identified in the Automotive Labels Market:
Some Biggies Revolutionizing the Market are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.3% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Material Type, Mechanism, Application, Region |
| Regions Covered |
North America; Latin America; Europe; East Asia; South Asia; Oceania; The Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled |
3M; Adhesive Research, Inc.; AVERY DENNISON CORPORATION; CCL Industries; Dunmore; H.B. Fuller Company; Imagetek Labels; Lewis Label Products Corporation; Sika AG; UPM Raflatac |
| Customization | Available Upon Request |
The projected revenue of the market by 2033 is USD 11,584.7 million.
The market CAGR for 2033 is projected to be 4.3%.
The market is valued at USD 7,603.99 million in 2023.
North America holds the largest market share.
The increasing complexity of automotive labels is a challenge for the automotive label market.
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Automotive Label Market
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