The report "Automotive Labels Market by Type (Warning, Dome, Asset), Identification Technology (Barcode, RFID), Printing Technology (Flexography, Digital printing), Mechanism (Pressure-sensitive, Heat Transfer, In-mold), Raw Material (PVC & Others), Application & Region - Global Trends & Forecasts to 2020", The market for automotive labels is projected to grow from USD 5.74 Billion in 2015 to USD 7.30 Billion by 2020, at an estimated CAGR of 4.93%. The market for automotive labels is growing due to increasing demand in the packaging and automotive industries as well as the rising demand for eco-friendly labels production techniques. However, varying environmental mandates across regions can act as a restraint to the growth of the automotive labels market.
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Asset labels to gain maximum traction during the forecast period
The asset labels are made up of a variety of raw materials such as metal, polyester, or poly vinyl chloride and are highly preferred for easy identification of equipment. These labels are highly durable and deliver excellent performance in terms of extreme environmental and mechanical conditions. The growth in the asset label is supported by its features such as synchronize process of repairs, maintenance, and inventory control for enterprises as well as maintaining the authenticity of the product.
Pressure-sensitive mechanism to grow at the fastest rate during the forecast period
The automotive labels market is segmented on the basis of mechanism into pressure sensitive, glue-applied, heat transfer, in-mold, and others. In 2014, the pressure-sensitive mechanism accounted for the largest share in the mechanism segment and is projected to grow at a highest CAGR during the forecast period.
Asia-Pacific to play a key role in the market for automotive labels
On the basis of key regions, the market for automotive labels is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The low labor costs, emerging economic conditions, and excellent hold on the automotive have played a key role in the growth of the automotive labels in the Asia-Pacific region.
The scope of the report covers detailed information regarding the major factors influencing the growth of the market for automotive labels such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product developments, mergers & acquisitions, agreements, and recent developments associated with the market for automotive labels.
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