Paint Protection Films - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Paint Protection Films Market is accounted for $222.84 million in 2018 and is expected to reach $468.22 million by 2027 growing at a CAGR of 8.6% during the forecast period. Some of the key factors propelling the market growth are increasing thermoplastic consumption, strong product demand for paint protection in vehicles, electronic gadgets, aircraft, boats, and ships, rising defense budgets of various countries. However, lack of skilled workforce and high cost of installation are restricting the market growth.
Paint protection film is a thermoplastic urethane film applied on the surface of automotive or electronic goods to protect the products from stone chips, minor scratches, and bug splatters. This film is installed using computer-cut patterns to the automobiles and other products for accurate and effective installations. It is flexible, stick hardly to curves and corners with no visual traces, and offer easy installation. Paint protection films ensure durability of paint and coating base and preserve it against extreme climatic conditions which can cause fading of colour shade or corrosion of the vehicle body.
By end user, the automotive segment is expected to grow significantly during the forecast period, due to increasing cautiousness for maintaining showroom finish of the vehicles, increasing resale value, and minimal impact of the automotive industry slowdown on the sales of luxury cars throughout the globe. Paint protection film is widely used in automotive industry to protect exposed surfaces of vehicles such as bumper, hoods, body cavities, door handles, and edges from abrasions, stone chips, and splatters.
Based on the geography, Asia Pacific is anticipated to have considerable growth during the forecast period, owing to increasing sales of luxury cars in the Asia Pacific region coupled with China being the largest producer & consumer of thermoplastic polyurethane material, which is the main base material for manufacturing paint protection films. Moreover, increasing production capacity of India and China coupled with growing demand for end-use industries in emerging economies such as China, India, South Korea and Indonesia.
Some of the key players in paint protection films market include XPEL, Inc., Eastman Chemical Company, Saint-Gobain, Reflek Technologies Corp., ORAFOL Europe GmbH, Avery Dennison Corporation, CCL Industries, Zhejiang Shichuang Optics Film Manufacturing Co., Ltd, etc., 3M Company, Hexis S.A., Sharpline Converting Inc., Scorpion Window Film, STEK USA, Prestige Film Technologies, Madico, Inc., and Premiumshield Limited.
• Polyvinyl Chloride
• Thermoplastic Polyurethane
• Other Materials
Coat Types Covered:
• Multilayer Based
• Top Coat Based
• Gloss Finish
• Matte Finish
Formulation Types Covered:
• Solvent Based System
• Water Based System
• Lighting Parts
• Vehicle Body
• Original Equipment Manufacturer (OEM)
End Users Covered:
• Electrical & Electronics
• Aerospace & Defense
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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