The global Paint Protection Film Market is forecast to reach USD 461.7 Million by 2027, according to a new report by Reports and Data. Paint safety film is a thermoplastic coating that cures when added to painted surfaces. The product is commonly used in the automotive industry to cover certain parts that are more vulnerable to abrasion or harm. Paint safety film is used in various parts of the vehicle, such as a door panel, bonnet, front bumper, rear bumper, side panel, side skirt, etc. The product prevents the car from soil, wax, mud, bugs, etc. induced by surface stains. It also gives a long period to maintain the vehicle surface to finish flawless. In effect, increasing demand for lightweight automobiles and hybrid cars will boost the market for color safety films in the coming years. Improvement in the electronic industry would increase the growth in the market size of paint safety film due to its usage in different electronic equipment such as mobile phones, LED displays, household appliances, etc. As a consequence, growing development in the consumer electronics business will render the Asia Pacific an essential region in the coming years.
The sector of Aerospace & Defense is expected to rise in the coming years at a growing CAGR due to widespread usage of the substance to cover the surfaces of the aircraft. It helps to shield the glass-made pieces from debris, high impact abrasion, and scratches. The material is used both for aircraft interiors and exteriors. In 2018, the operating global commercial fleet was projected at about 26,000 aircraft, which is expected to rise to about 37,000 over the next ten years. Thanks to the involvement of a large number of component suppliers, North America is a significant area in the paint film industry. Another growth enabler on the business will be growing aircraft and vehicle demand in the domain. The U.S. now has more than 3,600 combat aircraft, which, due to its increasing defense expenditure, will increase more in the coming years.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The Paint Protection Film Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market.
Key findings of the report:
- Based on the material, polyvinyl chloride generated a revenue of USD 31.8 million in 2019 and predicted to rise with a CAGR of 6.0% in the forecast period due to its wide variety of applications owing to excellent properties such as lightweight, abrasion resistance, better mechanical strength, low cost.
- The matte finish expected to grow with a CAGR of 6.1% in the forecasted period, as they are much more prone to damage than the glossy ones and are more costly. Thus, matte finish paint safety films are more appropriate to be used instead of other sections for coating the entire vehicle.
- The automotive & transportation industry is the major contributor to the Paint Protection Film Market. The automotive & transportation sectors of the Asia Pacific region are the major shareholder of the market and held around 70.2% of the market in the year 2019, owing to the rapid industrialization, combined with growing transportation requirements, culminated in expanded demand for passenger and commercial cars.
- The Asia Pacific dominated the market for Paint Protection Film in 2019. The region’s consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The Asia Pacific region held approximately 37.3% of the market, followed by North America, which contains around 24.9% market in the year 2019.
- Key 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.
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For the purpose of this study, the global Paint Protection Film market has been segmented on the basis of disease type, application, distribution channel, and region:
Material Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
- Thermoplastic Polyurethane
- Polyvinyl Chloride
- Polyethylene Terephthalate (PET)
- Polyester
- Others
Finish Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Million; 2017-2027)
- Matte Finish
- Gloss Finish
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
- Automotive & Transportation
- Electrical & Electronics
- Aerospace & Defense
- Others
By Region (Revenue, USD Million; 2017-2027)
North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of Middle East & Africa
Key Coverage of the Report:
- An in-depth analysis of the historical years and the forecast period has been offered in the report
- Paint Protection Film Market dynamics, including key drivers, challenges, restraints, threats, and growth opportunities have been analyzed in reports
- SWOT analysis and Porter’s Five Forces analysis with feasibility analysis and investment return analysis
- Competitive landscape benchmarking along with a comprehensive overview of their company profiles, product portfolios, strategic business decisions, and financial standings
- The report covers mergers and acquisitions, product launches and brand promotions, joint ventures, collaborations, and partnerships among few
- Pictorial representation of the key statistical data into graphs, tables, charts, diagrams, and figures
- An in-depth analysis of the current and emerging market trends and developmental patterns
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