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Paint Protection Film Market
As per the analysis conducted by Market Research Future (MRFR), the Market for Paint Protection Film is anticipated to acquire a market value of USD 1277.821 Million while expanding at a CAGR of 5.89% by 2030.
$1277.821 Million
5.89%
Asia Pacific
2022 - 2030
Paint Protection Film Market Overview
As per the analysis conducted by Market Research Future (MRFR), the Market for Paint Protection Film is anticipated to acquire a market value of USD 1277.821 Million while expanding at a CAGR of 5.89% by 2030.
COVID 19 Analysis
The outbreak of novel COVID-19 in the form of a pandemic is expected to harm the growth expectations for the paint protection films market during the forecast period of 2021-2028. The market is witnessing a decreased demand in the global market premises owing to the imposition of lockdown and other functional restrictions in various parts of the world. The market is known to generate its major demand from the wide functioning of the automotive sector and demand for electronic products, which were affected severely, and the manufacturing for the same was paused during the lockdown. The demand and supply chains of the market and their coordination were disrupted due to the pandemic, thereby spelling a negative impression on the market growth fortune for the market during the forecast period that will be ending in 2028. Also, the lack of skilled labor and the inability of people and market products to move from one place to the other and cross international borders for FDI and income are giving rise to major issues during the forecast period.
The paint protection films market size expansion can be a result of the rising investments from the government, public sector, and the prominent market players that can help the markets add the degree of differentiation and produce innovative market products. The report covers the aspects of the players and the recent developments along with other factors that will help the market grow at an excellent scale during the forecast period.
Competitive Landscape
The global paint protection films industry has been witnessing a greater degree of demand. The report will help in drawing a global market competitive graph during the forecast period of 2021-2028 owing to the role of the following companies:
- Eastman Performance Films, LLC (US)
- Reflek Technologies Corporation (US)
- ORAFOL Europe GmbH (Germany)
- Hexis S.A. (France)
- GRAFITYP Selfadhesive Products NV (Belgium)
- PremiumShield Limited (US)
- STEK-USA (US)
Market Dynamics
Drivers
The rising demand for the market products of the paint protection films market share in various market industries like automobiles, aircraft, ships, boats, and electronic gadgets is expected to be a significant and reliable factor that is likely to help the market grow and attain a dependable market revenue during the forecast period ending in 2028. The rapid expansion of the automotive sector can be attributed to the rising demand and production of vehicles that comply with a better standard of living is projected to help in the development and cater to the rising spread of the target audience of the market in the forecasted tenure that will be ending in 2028.
Restraints
However, the paint protection films market is witnessing the availability of the high installation costs associated that might hamper the market growth during the forecast period of 2021-2028.
Technology Analysis
The ongoing and rising degree of innovation in technology to offer a huge range of sustaining market products is likely to drive the paint protection films market significantly in the ongoing forecast period of 2021-2028. In addition, the huge availability of paint protection on various online portals is reaching a wide range of customers is projected to help in growing the demand, which is likely to augment the market significantly at an excellent rate.
Study Objectives
- The paint protection films market report discusses the market dynamics that cover market drivers and opportunities that will have a positive impact on the market growth followed by the basis on which the industry experts and business analysts have predicted the CAGR rate and the attainable market revenue during the period. The market report also discusses the circumstances that might give rise to the possible market restraints that will challenge the market growth.
- The report highlights the distribution of income, resources, and raw materials for the smooth functioning of the market and understands the basis of the global market segmentation that will help in catering to the rising needs of the target audience in the global market premises.
- The report also helps in understanding the role of the prominent market players to help the market growth in both the domestic and international regions. The report also brings into the limelight certain factors, steps undertaken, and market acts that will give rise to massive competition in the functioning of the global market.
Segment Overview
The paint protection films market trends are witnessing a global rise as the demand for the market is rising in various global regions and amongst various consumer groups. The market includes the use of resources and raw materials that helps in catering to the rising demand and hence, it is imperative to produce the market products in various locations. The market segments are:
 Based on material
The paint protection films market has been segmented based on materials and includes Thermoplastic Polyurethane, Polyvinyl Chloride, and others like Polyester and Polyethylene Terephthalate(PET)
Based on the end-use industry
The paint protection films market industry has its end-use industries like Automotive, Electronics, Construction, amongst others like Transportation and Marine.
Based on the region:
The regional segmentation of the paint protection films market includes North America, the European countries, Asia Pacific, the Middle East & Africa, alongside South America.
Regional Analysis
The paint protection films market share has been mushrooming for 5 major reasons across the globe. Based on the rising trends and growing demand for the market portfolio that is spread in various global locations, the APAC region is likely to emerge as the largest market for expansion during the ongoing forecast period. The Asia Pacific is known to be the largest consumer of paint protection films and is likely to grow at the highest market CAGR during the forecast period that will be ending in 2028. This explicit growth is attributed to the increasing degree of sales of luxury cars in the Asia Pacific region that is coupled with China that is emerging as the largest producer & consumer of thermoplastic polyurethane material. This is the main base material for manufacturing paint protection films as the market products for the forecast period of 2021-2028Recent Development
- October 2021- A global provider of protective films and coatings, XPEL, Inc. announced a multi-year designation as the Mercedes-Benz Club of America, Inc.’s exclusive paint protection film, ceramic coating, and window film sponsor. This latest sponsorship drives boosted XPEL brand awareness and usage among the tens of thousands of Mercedes-Benz enthusiasts who proudly join club-sponsored activities and events. It will also provide XPEL with many membership opportunities through the membership communication channel and content platform initiated by the club.The Vice President Brand at XPEL stated that the company is thrilled to start this new journey with the Mercedes-Benz Club of America. He further added that the exclusive sponsorship would produce numerous engagement opportunities with the Mercedes-Benz enthusiast community.The paint protection film portfolio of XPEL includes ULTIMATE PLUS BLACK™, STEALTH™, and ULTIMATE PLUS™. Each film is engineered to protect painted surfaces from scratches, scuffs, and rock chips. XPEL’s FUSION PLUS™ ceramic coating line is designed with U/V inhibitors and hydrophobic properties and is available for professional application to paint, upholstery, trim, PPF, glass, and plastic.
- December 2020- Garware Polyester, a globally renowned name in the manufacturing of polyester film manufacturing, has commenced the production of Paint Protection Films for automobile paint protection.
- December 2020- XPEL Inc, a US-based player, announced its designation as the “Official Paint Protection Film” of Spring Mountain Motor Resort & Country Club and the Ron Fellows Performance Driving School.
Report Overview
The paint protection films market report carries deep market research to understand the important factors that have both positives and negatives to offer to the global market operations during the forecast period of 2021-2028. The market report helps in understanding the basis of the global market segmentation followed by the rising degree of competition in the market by the product enhancement and growth initiatives undertaken by the market players in the global premises.Segmentation Table
Paint Protection Film Market, By ApplicationÂ
- Electrical & Electronics
- Automotive
- Aerospace & Defense
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 5.89%(2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019Â &Â 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 3M, Eastman Chemical Company, Avery Dennison Corporation, HEXIS S.A., Premium Shield, XPEL TECHNOLOGIES CORP, Saint-Gobain Performance Plastics, ORAFOL Europe GmbH, SWM, RENOLIT |
| Key Market Opportunities | The rising demand for paint protection in automobiles, aircraft, ships, boats, and electronic gadgets |
| Key Market Drivers | The growing introduction of new technologies to manufacture films with superior properties, resistance towards environmental conditions, and long-lasting film |
Frequently Asked Questions (FAQ) :
The global paint protection films market is expected to rise to a valuation of USD 1,277.82 million by 2023.
The global paint protection films market is expected to exhibit a strong 5.89% CAGR over the forecast period.
The automotive industry is the leading end user of paint protection films, accounting for 71.5% of the market in 2016.
The growing automotive sector, rising demand for electronic items, and the increasing aerospace and defense sector are likely to be the major drivers for the global paint protection films market over the forecast period.
The leading players in the paint protection films market include Hexis SA, Eastman Chemical Company, 3M, Avery Dennison, Saint-Gobain, SWM, and RENOLIT.
