Market Analysis=
Paint protection films are thin films composed of thermoplastic urethane material which are applied to various products to provide protection against external damages. Their self-healing property is a factor which makes them desirable. The global paint protection film market is projected to reach USD 1277.821 Mn at a CAGR of 5.89% over the forecast period, asserts Market Research Future (MRFR) in a comprehensive study.
Expanding application range across various industry verticals can be attributed to ten growth of the global Paint Protection Film Market. End-use industries such as electrical & electronics, aerospace & defense, and automotive.
In the automotive industry, they are widely used for protection against UV rays, scratches, chips, stains, and other damaging elements. They do not alter the color or design elements of the vehicle which make them more desirable. Growing sales of high-end luxury cars generate high demand for paint protection films from the automotive industry and drive the global paint protection films market.
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Thermoplastic urethane films have a protective role in electronic gadgets and appliances. Growth in the electrical & electronic industry fosters the market growth for paint protection films.
Heavy use of paint protection films in the aerospace industry for the protection of cockpit instrument panels and fuselage valves is likely to augment the growth of the global paint protection films market.
Production innovation is a key factor stimulating the growth of the global paint protection films market. Manufacturers are investing huge capital to offer innovative products in a bid to gain an edge over competitors. Rise in R&D activities coupled with modernization of manufacturing technologies has expanded the range of potential applications which further accelerates market growth.
On the downside, exorbitant cost of the product raise the overall price of the end use product which acts as a deterrent to the growth of the global paint protection films market.
Segmentation
The global paint protection film market has been segmented on the basis of application which includes automotive, electrical & electronics, aerospace & defense, and others. Application-wise, the automotive segment accounted for the largest share of over 71% in 2016 and is projected to expand at a CAGR of 6.17% over the forecast period. The increasing use of paint protection films in automobiles coupled with favorable government policies for automotive manufacturers in developing countries is the driving force behind the growth of this segment. The electrical & electronics segment is estimated to be the largest segment driven by rise in manufacturing of electronic gadgets such as mobile phones, laptops, and tablets.
Detailed Regional Analysis
The paint protection film market is segmented into the following regions North America, Latin America, Middle East, Europe, Asia Pacific, and Africa. Among these regions, the Asia Pacific region has appeared as the foremost paint protection film market in 2016, motivated by the development of industries such as electrical & electronics and automotive. The Asia Pacific region is projected to achieve USD 492.05 million with a modest CAGR of around 6.1 percent over the forecast period. The demand for paint protection film is expected to surge in developing economies such as India, China, and Japan owing to the rising electronics and automotive sector. Germany, the U.K, and France are among the main suppliers to the regional market growth and will carry on their dominance through the forecast period owing to the extensive utilization of paint protection film in the aerospace and automotive sector. Advanced regions such as North America and Latin America are expected to perceive a noteworthy growth owing to the surge in the volume of vehicle production and sales in these regions.
Competitive Landscape
Eastman Chemical Company
Avery Dennison Corporation
Saint-Gobain Performance Plastics
HEXIS S.A.
ORAFOL Europe GmbH
XPEL TECHNOLOGIES CORP.
RENOLIT
3M
SWM
Industry Updates
- In November 2018, XPEL, Inc., a manufacturer of a variety of paint protection films, announced the acquisition of Apogee Corporation, Taiwan-based distributor of automotive paint protection and window film. Through the acquisition, XPEL will begin directly selling its products to customers in Taiwan.
- In October 2018, Avery Dennison, a leader in adhesive technologies, introduced a new paint protection film which has self-healing properties. SPF-XI Supreme Protection Film provides protection against stone chips, road debris, insect stains, weathering, and minor abrasions without degrading a vehicle’s finish.
- In June 2018, Tint World Automotive Styling centers, the seller of paint protection films and other auto accessories, announced a partnership with Canadian company Alchemy, a manufacturer of windshield protection application.
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The research report titled Global Paint Protection Film Market is an all-inclusive document containing crucial data pertaining to sales and revenue of the Paint Protection Film industry.
The report provides historical data (2017-2018) of the industry and provides valuable forecast information for the period of 2020-2027.
The report is formulated with the analysis of current and emerging trends based on the impact of the COVID-19 pandemic.
The pandemic has changed the dynamics of the market and has drastically shaken up the economic scenario of the world.
It also covers trends, demands, and growth rates impacted by the ongoing crisis.Market Size – USD 267.5 Million in 2019, Market Growth - CAGR of 6.9%, Market Trends – High demand from developing nations.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3347Key participants include Zhejiang Shichuang Optics Film Manufacturing Co. Ltd., Avery Dennison Corporation, Eastman Chemical Company, 3M, CCL Industries, Reflek Technologies Corp., Xpel Inc., Hexis S.A., Saint-Gobain, and STEK USA, among others.The forecast estimation states the global Paint Protection Film market is expected to dominate the economic sphere of the world with significant growth in the coming years.
The current and emerging trends are expected to shape up the industry and help in gaining a strong foothold in the global market to contribute to the revenue generation.The Global Paint Protection Film market is further analyzed on the basis of key companies operating in the business sphere and major geographical regions where the market has a substantial size and growth rate.Material Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)Thermoplastic PolyurethanePolyvinyl ChloridePolyethylene Terephthalate (PET)PolyesterOthersFinish Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Million; 2017-2027)Matte FinishGloss FinishTo read more about the report @ https://www.reportsanddata.com/report-detail/paint-protection-film-marketApplication Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)Automotive & TransportationElectrical & ElectronicsAerospace & DefenseOthersZonal Partition of the Market: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.The report covers extensive analysis of market segments that are anticipated to lead by the end of the forecast period (2020-2027).
