August 18, 2023 04:47 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES Vinyl Self Adhesive
Wilmington, Delaware, United States, Aug. 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The flex banner market was valued at US$ 2.5 Bn in 2022. It is projected to reach US$ 4.2 Bn by 2031. Adoption of high-resolution printing services for flex banners is anticipated to bolster market growth.
Increase in usage of flex banners at public places to raise awareness about public safety is likely to augment market value. Rapid increase in adoption of retractable banners among businesses who are seeking lightweight and sturdy banners for conferences and exhibitions is a key trend that is likely to fuel market development.
Significant demand for flex banners in large format presents substantial business opportunities for market players. Organizations who do not have substantial budget are preferring flex banners to digital signage & display. However, increase in inclination of businesses toward the adoption of a range of digital marketing channels, social media platforms, search platforms, and websites, for the promotion of their products and brands, is anticipated to hamper the market growth in the near future.
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Rise in Usage of Flex Banners as Cost-effective Medium of Advertisement
Introduction of pre-designed banner templates is augmenting the market size. Rapid rate of adoption of flex banner printing services is anticipated to accelerate market development. Significant demand for flex banner among businesses to meet a variety of branding needs is anticipated to create lucrative opportunities for companies in the flex banner industry.
Rapid utilization of flex banners in promotional campaigns in entertainment and sports & leisure industries is a key trend expected to augment market size. Small- and medium-scale businesses are widely adopting flex banners in trade shows, events, and art galleries.
Flex banners are considered as a cost-effective means of advertising medium to reach a large number of consumer/customers. Additionally, these banners are durable and can withstand the outdoor environment and inclement weather, effectively, for a long period.
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Significant Adoption of Environmental-friendly Banners Propelling Market Development
Usage of flex banners made with recyclable materials, such as low-density polyethylene (LDPE), high density polyethylene (HDPE), polypropylene, and polyester, is broadening market outlook. Surge in adoption of recyclable banner materials is anticipated to accelerate market growth in the next few years.
Key Growth Drivers of Flex Banner Market
Asia Pacific is anticipated to account for the dominant share of the global flex banner market during the forecast period. Significant advertisement spending in Asia is a key trend that is anticipated to propel the market in Asia Pacific.
Increase in demand for out-of-home branding activities in the region is expected to boost the market. Both matte and gloss lamination is used in flex banners meant for outside advertisement applications. A booming advertisement sector in several developing countries in Asia Pacific is likely to spur market development in the next few years.
North America is a lucrative market for flex banner. Significant demand for eco-friendly and sustainable banners in the region is projected to propel the market. Rise in R&D activities to develop flex banner printing materials and rapid advancement in printing technology used to print the banner are expected to bolster the market in the region.
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Several domestic and global players hold significant stake in the global flex banner market. Leading players are focusing on product portfolio expansion in order to consolidate their market positions.
Key players operating in the market are
The global flex banner market has been segmented based on
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