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.
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.
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.
Major Players: Qrex Flex Pvt Ltd, Ultraflexx Pvt Ltd, Pioneer Flex Company, and 3M India, among others.
1.1 Scope of the Study
1.2 Executive Summary
2. Research Approach and Methodology
2.1 Key Deliverables of the Study
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. Market Insights
3.1 Market Overview
3.2 Market Drivers
3.2.1 Increasing Adoption in Retail and Entertainment Industry
3.2.2 Cost-Effectiveness of Flex Banners
3.3 Market Restraints
3.3.1 Lack of Customization Coupled with Availability of More Viable Alternates
3.3.2 Regulation Regarding Use of Plastics
3.4 Industry Attractiveness – Porter's Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Consumers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products or Services
3.4.5 Competitive Rivalry Among Existing Competitors
4. Indian Flex Banners Market Segmentation
4.1 By Type
4.2 By End User
4.2.4 Sports and Leisure
5. Competitive Intelligence – Company Profiles
5.1 Qrex Flex Pvt Ltd
5.2 Ultraflexx Pvt Ltd
5.3 Pioneer Flex Company
5.4 3M India
5.5 LG Hausys
5.6 Cooley Group
6. Investment Analysis
7. Future of the Indian Flex Banners Market