India Flex Banner Market - Segmented by Type (Backlit, Frontlit) and End User (BFSI, Retail, Entertainment, Sports and Leisure) - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The India flex banner market is expected to grow at a CAGR of 7.18%, over the forecast period (2018-2023).

Owing to their long-term image of being a significant mass medium advertisement tool, flex banners have witnessed a decent growth in past years, as big and colorful posters can create a more startling impact. Moreover, lower investment costs required to deploy these type of banners, coupled with a longer lifespan, is driving the growth of the market. New printing technologies and PVC painting techniques have enabled high definition and attractive banners at lower costs, and hence, many of the businesses and companies opt for these solutions, owing to their ease of deployment and cost-effectiveness.

With the entertainment industry now focussing on expanding and investing heavily in advertising and marketing, the industry is expected to witness a high demand over the forecast period in India. The Indian advertising industry is projected to be the second fastest growing advertising market in Asia, after China. Booming Indian economy, growing literacy rate, and continuous demand for packaging and printing requirements in the country will influence the growth of India flex banner market over the forecast period.

However, the advent of digital advertising and regulations regarding the use of plastics tend to restrain the growth of flex banners.

Owing to their Cost-effectiveness, Flex Banners are Expected to Witness Modest Growth Over the Forecast Period

Cost-effectiveness is one of the primary factors that has been aiding the adoption of flex banners across many industries. Shopping malls, retail stores, and others mostly prefer flex banners over other advertising tools. Even government agencies are now deploying permanent flex banners as they provide cost-effectiveness over other applications comparatively. Easy availability and quick deployment functionality are a few important factors favoring the market growth. The market for flex banners is highly fragmented in India, where the local players and small companies account for a majority of the market share. For example, small businesses usually tend to approach local manufacturers for smaller volumes. This trend has been impacting the growth of the market. These dynamics are influencing the growth of the flex banners in India over the forecast period.

Retail Industry Holds a Significant Share in the Market

In a bid to gain competitive advantage, retailers are increasingly looking for solutions that enhance their brand presence and have a positive impact on their overall revenue. POP flex banner displays are reducing the time to spend with a customer, by communicating through these boards about the details of product location or product information, which is easing the retail business operations. With this, competitive business environment companies are trying to improve the utilization of marketing tools and funds effectively. For this, companies are using flex banners as a part of brand promotional activities. Because of the tremendous daily market competitiveness in the retail sector, companies need to advertise their features, and these flex banners provide an effective brand promotion functionality. Retail companies are relying on these backlit and front lit boards to ease the communication process between store operations and customer. For instance, Amazon deployed backlit display flex banners all across the major cities in India to promote their product base. Many of the retail companies are still relying on flex banners, as they are more reliable and a low-cost marketing tool.

Key Developments in the Market

• December 2017 - Pioneer Polyleathers Ltd is India’s leading integrated manufacturers of flex banner, PVC foam sheet, and self-adhesive vinyl. The company, which has been engaged in manufacturing these products since 2008, doubled its capacity. Its state-of-the-art facility is spread across 15 acres of land and houses multiple production lines with the monthly capacity to produce 600 containers of flex banner and 50 containers of vinyl.

Major Players: Qrex Flex Pvt Ltd, Ultraflexx Pvt Ltd, Pioneer Flex Company, and 3M India, among others.

Reasons to Purchase the Report

• Impact of regulations on the use of plastic on the growth of flex banners market
• Analyzing various perspectives of the market with the help of Porter’s Five Forces analysis
• Regional analysis of the market
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.