Global Paint Protection Film Market, By Brand (Clear Bra, Clear Mask, Invisible Shield, Rock Chip Protection, Clear Wrap, Car Scratch Protection Film and Others), Material (Polyurethane, Vinyl, Polyvinyl Chloride and Others), System (Water-Based Systems and Solvent-Based Systems), Finish (Matt Finish, Gloss Finish and Others), Application (Full Hood, Leading Hood Edge, Bumpers, Fender Panels, Painted Side Mirrors, Door Handle Cavities, Door Edges, Rocker Panels, Trunk Ledge and Others), End-User (Automotive, Aerospace and Defense, Electrical and Electronics, Oil and Gas and Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
The growing preference for paint protection film and the associated spending by end users of automotive vehicles has pushed its use in both manufacturing and maintenance and repair, resulting in a robust market. Furthermore, the industry has been experiencing a succession of product advancements incorporating optimal compositions to give greater performance characteristics and aesthetics in the long run, thanks to the growing demand for paint protection films.
Global Paint protection film Market was valued at USD 280.18 million in 2021 and is expected to reach USD 503.43 million by 2029, registering a CAGR of 7.60% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Brand (Clear Bra, Clear Mask, Invisible Shield, Rock Chip Protection, Clear Wrap, Car Scratch Protection Film and Others), Material (Polyurethane, Vinyl, Polyvinyl Chloride and Others), System (Water-Based Systems and Solvent-Based Systems), Finish (Matt Finish, Gloss Finish and Others), Application (Full Hood, Leading Hood Edge, Bumpers, Fender Panels, Painted Side Mirrors, Door Handle Cavities, Door Edges, Rocker Panels, Trunk Ledge and Others), End-User (Automotive, Aerospace and Defense, Electrical and Electronics, Oil and Gas and Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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3M (U.S.), XPEL, Inc. (U.S.), Dow (U.S.), Eastman Chemical Company (U.S.), Hexis S.A.S (France),PremiumShield (U.S.) STEK-USA (U.S.), Reflek Technologies Corporation (U.S.), GRAFITYP (Belgium), ORAFOL Europe GmbH (Germany), DuPont (U.S.), DAIKIN (Japan)Optic Shield (Czechia), Solvay (Belgium), SCHWEITZER-MAUDUIT INTERNATIONAL, INC. (U.S.), Saint-Gobain (France) and Avery Dennison Corporation (U.S.)
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Market Opportunities
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Market Definition
The paint protection films are films composed of polymeric materials which have an adhesive end to enable it to be stuck on to the surfaces to provide them protection from environmental parameters such as heat, UV radiations, rust, scratches, dust and stains. Paint protection films are mainly used by different end-users such as automotive, aerospace, oil and gas, electrical and electronics and several others.
Paint Protection Film Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Demand for High-End Luxury Vehicles
In the forecast period, rising consumer expenditure on high-end luxury automobiles, particularly in developing regions, is likely to enhance demand for paint protection film. Changing trends of employing PPF in mid-priced vehicles, such as SUVs and passenger cars, are boosting PPF demand. This is due to low-cost PPF on the market and increased awareness. Moreover, as per the OICA, China accounted for 35% of worldwide passenger automobile sales in 2017. India's automobile sector has a lot of room for expansion in the future. In 2018, the country's automobile sector had an increase of 8% in production over the previous year. Paint protection film will be in high demand in the automotive industry as a result of this.
The increasing thermoplastic consumption, will further propel the growth rate of paint protection film market. Additionally, the high capita income countries in terms of automobiles will also drive market value growth. The expansion of the automotive industry is also projected to bolster the growth of the market.
Opportunities
- Growing Developments
Furthermore, various developments by the market players and innovation of advanced recyclable raw materials and production technologies, extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
- Increased Awareness Regarding Vehicle Protection
Additionally, rising consumer awareness of the benefits of using paint protection films to protect painted surfaces from stone chips, bug splatters, and small abrasions is expected to boost market demand. The coating protects the car's paint from scratches, dents, and other damage caused by road debris, pebbles, and other environmental causes. Furthermore, utilizing PPF preserves the vehicle's showroom grade finish, keeps it appearing younger for longer by shielding weak areas, and increases its resale value. This draws customers, resulting in increased demand for paint protection films.
Restraints/Challenges
- High Cost
The paint protection film is quite costly, therefore, it added to the vehicle's final cost. This also necessitates the use of trained staff, which raises the cost of installation. The increased overall cost will create affordability issues and will thus create hindrances for the growth of the paint protection film market.
- Drawbacks of Paint Protection Films
Also, the paint protection film often tend to dull the vehicle's color. Moreover, they aren't particularly water-repellent. Many experienced PPF installers, on the other hand, provide ceramic coating treatments on top of paint protection films for an even better paint protection option. As a result, these drawbacks will challenge the paint protection film market growth rate.
This paint protection film market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the paint protection film market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Paint Protection Film Market
The recent outbreak of coronavirus had a negative impact on the paint protection film market due to the application of lockdown and other functional restrictions in various areas of the world, there is a fall in demand in the global market premises. The market is believed to get its primary demand from the widespread operation of the automobile sector and demand for electronic items, both of which were severely impacted and whose production was halted during the lockdown. Due to the pandemic, the market's demand and supply chains and coordination were disrupted, resulting in a negative impact on the market's growth fortunes throughout the projection period.
Recent Development
- In October 2020, XPEL, Inc. announced the expansion of Fusion Plus Ceramic Coating lineup into hydrophobic protection segment, followed by the success of its Fusion Plus line of products in PPF to improve its sales and achieve goodwill among vehicle owners as well as installers.
- In October 2021, XPEL, Inc., a global manufacturer of protective films and coatings, has been named the Mercedes-Benz Club of America, Inc.'s exclusive paint protection film, ceramic coating, and window film sponsor for a multi-year period. XPEL brand awareness and usage among the tens of thousands of Mercedes-Benz fans who enthusiastically participate in club-sponsored activities and events has increased as a result of the current sponsorship efforts. The club's membership communication channel and content platform will also provide XPEL with several membership opportunities.
Global Paint Protection Film Market Scope
The paint protection film market is segmented on the basis of brand, material, system, finish, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Brand
- Clear Bra
- Clear Mask
- Invisible Shield
- Rock Chip Protection
- Clear Wrap
- Car Scratch Protection Film
- Others
Material
- Polyurethane
- Vinyl
- Polyvinyl Chloride
- Others
System
- Water-Based Systems
- Solvent-Based Systems
Finish
- Matt Finish
- Gloss Finish
- Others
Application
- Full Hood
- Leading Hood Edge
- Bumpers
- Fender Panels
- Painted Side Mirrors
- Door Handle Cavities
- Door Edges
- Rocker Panels
- Trunk Ledge
- Others
End-User
- Automotive
- Aerospace and Defence
- Electrical and Electronics
- Oil and Gas
- Others
Paint Protection Film Market Regional Analysis/Insights
The paint protection film market is analyzed and market size insights and trends are provided by country, brand, material, system, finish, application and end-user as referenced above.
The countries covered in the paint protection film market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the increasing demand for these films in the automobile market. The U.S. is leading the growth of the North American region due to increasing cautiousness for maintaining finish of the vehicles in the country.
On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, due to the high concentration of automotive manufacturers, particularly the manufacturers of luxury cars in this region. Moreover, China is dominating the Asia-Pacific region due to the increasing demand for automobiles in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Paint Protection Film Market Share Analysis
The paint protection film market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to paint protection film market.
Some of the major players operating in the paint protection film market are
- 3M (U.S.)
- XPEL, Inc. (U.S.)
- Dow (U.S.)
- Eastman Chemical Company (U.S.)
- Hexis S.A.S (France)
- PremiumShield (U.S.)
- STEK-USA (U.S.)
- Reflek Technologies Corporation (U.S.)
- GRAFITYP (Belgium)
- ORAFOL Europe GmbH (Germany)
- DuPont (U.S.)
- DAIKIN (Japan)
- Optic Shield (Czechia)
- Solvay (Belgium)
- SCHWEITZER-MAUDUIT INTERNATIONAL, INC. (U.S.)
- Saint-Gobain (France)
- Avery Dennison Corporation (U.S.)
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