Vinyl has many forms and purposes, it has been used to make simple stickers for quite awhile. However, advances made in the characteristics of the vinyl and the adhesives, have opened the door for all kinds of applications. Now vinyl can be made to stretch and keep its new form. New adhesives allow for varying degrees of initial tack, slide-ability, repositionablity. Wrap materials of today also employ tiny air channels pressed into the adhesive layer that allow trapped air to be pushed out during install, leaving a bubble free wrap. I will talk more about the properties of wrap material in future posts.
Here is a good article about the beginning of car wraps.
kpmfusa.com/history-of-vehicle-wrap