Flex Banner Market: Introduction
Transparency Market Research delivers key insights on the global flex banner market. In terms of revenue, the global flex banner market is estimated to expand at a CAGR of ~5% over the forecast period of 2020 to 2030, owing to numerous factors regarding which, TMR offers thorough insights and forecasts in the global flex banner market report.
In the report, TMR predicts that the global flex banner market would be largely driven by growth of out of home advertisement, which is expected to continue to boost the market during the forecast period.
According to the flex banner market report, the product segment includes flex banner and vinyl sticker. Flex banners are divided into back lit, front lit, and non lit. Vinyl sticker segment is sub-segmented into back lit, front lit and non lit.
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In terms of raw material, the flex banner market is divided into PVC, fabric, and others. Flex banners are extensively used in different outdoor advertisements. The product has higher utility in custom office signboard, point of purchase signage, trade show displays, real estate signs, and retail store signs. Rising popularity of indoor advertisements is boosting the sale of vinyl stickers at the global level. Latest printers have several features for vinyl printing, which is promoting the vinyl sticker segment.
Based on end user, the market has been divided into BFSI, retail, entertainment, sports & leisure, and others. Retail is the largest and fastest growing segment. Rising demand for FMCG products is one of the major factors driving the market.
As per the distribution channel, the global flex banner market is bifurcated into online and offline. Companies are investing in online markets by understanding the growing demand. These companies are providing doorstep flex delivery, which is attracting end users to make purchases through online channels. Offline segment is the largest segment as a result of sales through authorized distributors.
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The flex banner market is majorly driven by the advertisement industry. The continued dominance of static out of home advertisements is anticipated to continue to generate demand for flex banners. The steadfast growth of urbanization, access to broadband, and technological innovation increasingly promotes a better ecosystem for out-of-home (OOH) media. Now more than ever before, OOH media continues to foster effective communication between consumer and marketer. OOH media offers relatively higher penetration than any other advertisement media.
The ability of digital OOH to offer interactive and more impactful advertisement is expected to give it an edge over the static OOH market. This is likely to hinder the market for static signage. Digital-out-of-home (DOOH) is a modern form of advertising that uses digital media for endorsing audio and video messages related to products or services outside the home. DOOH, also known as digital signage, is projected to effectively replace the traditional and orthodox forms of marketing and advertising.
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Flex Banner Market: Prominent Regions
Asia Pacific accounted for a dominant market share in 2019. Increasing demand from end user segments coupled with easy government rules and regulations for establishment of small & medium manufacturing units is expected to boost the market growth. North America is the second largest market as a result of large number of FMCG companies.
Flex Banner Market: Key Players
Key players operating in the global flex banner market include 3M Corporation, ADDICA INDUSTRIES LLP, Cleena Industries Pvt. Ltd., Cooley Brand, Hongshida, LG HAUSYS, Pioneer Flex, Qrexflex, SHANGHAI HANKER INDUSTRIAL CO., LTD, and Ultraflex Systems Inc. Trend of mergers & acquisitions is observed in this market. Large players are acquiring small, local flex manufacturers to increase their market share.
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