Report : North America Self-Adhesive Vinyl Film Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Translucent, Transparent, Opaque); Application (Automotive, Industrial, Architectural, Others)
Rising Construction Industry to Escalate Growth of North America Self-Adhesive Vinyl Film Market during 2020–2028
According to our latest market study on “North America Self-Adhesive Vinyl Film Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type (Translucent, Transparent, and Opaque) and Application (Automotive, Industrial, Architectural, and Others),” the market was valued at US$ 1,089.13 million in 2020 and is projected to reach US$ 1,472.16 million by 2028; it is expected to grow at a CAGR of 4.0% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
The rapid growth of the construction industry, particularly in the residential sector, across the US and Canada can be attributed to the low borrowing cost and the wage growth. The construction industry is one of the major contributors to the US economy. It has more than 680,000 employers with over 7 million employees and is creating nearly $1.3 trillion worth of structures each year. The rising renovation activities in the US and the increasing construction of buildings create demand for self-adhesive vinyl films to be used for many interior spaces of windows, ceilings, walls, and kitchen. Canada is recognized as one of the world’s largest markets for commercial, residential, and infrastructure development. Thus, due to a rise in the number of building structures in North America, there is an increased demand for self-adhesive vinyl films that are basically used for window coverings and sidings, fabrication for furniture covers, as well as for ceilings and walls. Companies such as Lintec; Arlon Graphics, LLC; and LG Hausys offer window films, and films that can be used for interior and exterior wraps.
3M; Avery Dennison Corporation; LG Hausys; Lintec; Arlon Graphics, LLC; Hexis S.A.S.; Metamark; Kay Premium Marking Films Ltd.; Henkel Kg and Co. KGaA; and Drytac are among the well-established players operating in the North America self-adhesive vinyl film market.
Impact of COVID-19 Pandemic on North America Self-Adhesive Vinyl Film Market
The COVID-19 has been adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The North America self-adhesive vinyl film market is suffering serious disruptions such as logistics and supply chain breaks, technology events cancellations, and office shutdowns. In addition, travel restrictions imposed by countries in the region are hindering the business collaborations and partnerships opportunities. Amid pandemic, many residential projects in North America were suspended by the government, which declined the demand for self-adhesive vinyl films. The US reported the highest number of COVID-19 confirmed cases than Mexico and Canada. All these factors are likely to disrupt the chemicals & materials industry in the region. However, with the vaccination drive gathering pace across North America, the industries have begun to recover at a moderate pace. This is expected to aid the recovery of the economy as well as increase demand for self-adhesive vinyl films.
The report includes the segmentation of the North America Self-Adhesive Vinyl Film market as follows:
North America Self-Adhesive Vinyl Film Market, by Type
North America Self-Adhesive Vinyl Film Market, by Application
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