Flex Banner Market Size, Share, and Industry Analysis, By Type (Frontlit, Backlit, Blockout, and Others), By Application (Retail & Advertisement, Events & Exhibitions, Corporate Brandings, and Others), and Regional Forecast till 2032

Region : Global | Report ID: FBI112743 | Status : Ongoing

KEY MARKET INSIGHTS

The global flex banner market is witnessing significant expansion owing to an increase in the adoption of outdoor advertising. Flex banners are a type of advertising material majorly used in outdoor and indoor promotional activities. They are usually used for banners, billboards, and other large-format displays. Moreover, these banners are flexible, lightweight, and can withstand various weather conditions, making them a preferred choice for the long term.

The COVID-19 pandemic had a significant impact on the global flex banner market. Businesses reduced their spending on outdoor advertising due to lower revenues and uncertainty, negatively impacting market growth. Moreover, the governments across various countries imposed lockdowns, leading to the cancellation or postponement of events, trade shows, and exhibitions, reducing product demand. Moreover, the manufacturing and distribution of flex banners faced delays owing to factory shutdowns, limited workforce availability, restrictions on import and export, and raw material shortages.

Flex Banner Market Driver

Rising Adoption of Outdoor Advertising to Propel Market Growth

Flex banners are extensively used in outdoor advertising, including billboards, hoardings, and promotional displays. With businesses increasingly relying on visual advertising to attract customers, the demand for cost-effective and versatile advertising solutions is rising, boosting the demand for flex banners. Moreover, the increasing number of billboards across countries propels the market growth. According to the Out of Home Advertising Association of America (OAAA), a U.S.-based association, the number of billboards in the U.S. increased from 343.11 thousand in 2020 to 354.5 thousand in 2023. Furthermore, the increasing number of trade shows, exhibitions, and corporate events boost product demand.

Flex Banner Market Restraint

Fluctuating Raw Material Prices to Limit Market Growth

The fluctuating prices of raw materials limit the market growth. The production of flex banners heavily relies on raw materials such as PVC (polyvinyl chloride) and polyester, which are derived from petrochemical sources. The prices of these raw materials are highly volatile, usually influenced by fluctuations in crude oil prices, supply chain disruptions, and geopolitical factors.

Moreover, volatile raw material prices can lead to higher manufacturing costs, reducing profit margins for manufacturers. Furthermore, various global uncertainties, including trade restrictions or transportation issues, can further increase raw material shortages, delaying production and delivery.

Flex Banner Market Opportunity

Rising Demand for Eco-Friendly Products to Offer Lucrative Growth Opportunities

The demand for eco-friendly products is growing significantly owing to rising environmental awareness among individuals worldwide. Moreover, businesses across various countries are prioritizing environmentally friendly advertising solutions to align with sustainability goals, and the rising trend of eco-friendly products in various industries such as retail, events, and corporate marketing fuels the product demand.

Furthermore, governments worldwide are enforcing bans on non-biodegradable plastics, including traditional PVC flex banners. This has made manufacturers develop eco-friendly alternatives made from biodegradable or recyclable materials. Several prominent companies are now focusing on sustainable materials to comply with environmental regulations and appeal to eco-conscious customers.

Segmentation

By Type	By Application	By Geography
Frontlit Backlit Blockout Others	Retail & Advertisement Events & Exhibitions Corporate Brandings Others	North America (U.S., Canada, and Mexico) Europe (U.K., Germany, France, Spain, Italy, Russia, and the Rest of Europe) Asia Pacific (China, Japan, India, Australia, and the Rest of Asia Pacific) South America (Brazil, Argentina, and the Rest of South America) Middle East & Africa (South Africa, UAE, and Rest of the Middle East & Africa)

Key Insights

The report covers the following key insights:

Overview of the Global Banner Market
Supply Chain & Regulatory Analysis
SWOT Analysis
Porter's Five Forces Analysis
Recent Industry Advancement

Analysis by Type

Based on type, the market is segmented into frontlit, backlit, blockout, and others.

The frontlit segment holds the largest market share due to wide product availability and rising usage in retail signage, event banners, and sports events. The frontlit banner dries quickly, can be printed on both sides and can print different images. The frontlit banner usually has good ventilation, high strength, stable ink absorption, and rapid drying, driving the segment growth.

The backlit segment is expected to grow considerably throughout the forecast period owing to increasing usage in outdoor advertising, retail displays, and airport & transit signage. Moreover, these are highly visible in low-light conditions, making them effective for 24/7 advertising. Furthermore, backlit banners are designed to be illuminated from behind making them stand out in crowded environments, boosting product demand over the coming years.

Analysis by Application

Based on application, the market is segmented into retail & advertisement, events, & exhibitions, corporate brandings, and others.

The retail & advertisement segment dominated the market in 2023 owing to increasing expenditure on marketing & advertising among multinational companies coupled with the growing need for displays in visual merchandising across the retail sector.

The events & exhibitions segment is expected to grow significantly over the coming years owing to the rising number of events and exhibitions across countries. Moreover, the increasing popularity of trade shows and exhibitions, coupled with the rising number of sports and entertainment events, will propel the segment growth over the forthcoming years.

Regional Analysis

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Based on region, the global market is categorized into North America, Europe, South America, and the Middle East & Africa.

Asia Pacific led the market in 2023 owing to the wide product availability and high presence of prominent market players across China and India. Moreover, the expanding retail, real estate, and entertainment sectors boost the demand for outdoor advertising, fueling the regional growth.

North America region is expected to grow significantly throughout the forecast period owing to the presence of major prominent multinational corporations and the rising popularity of billboard advertisements. According to the Out of Home Advertising Association of America (OAAA), a U.S.-based association, in 2021, the top billboard advertisers were Walt Disney Pictures, McDonald’s, Apple, Geico, HBO, Coca-Cola, Allstate, Google, Amazon, and American Express. The increasing number of billboards across the U.S., owing to rising advertising and promotional activities across various industries, drives the market growth. According to the Out of Home Advertising Association of America (OAAA), a U.S.-based association, the number of billboards in the U.S. increased from 351.8 thousand in 2022 to 354.5 thousand in 2023.