Paint Protection Film Industry Overview
The global paint protection film market size was valued at USD 296.3 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030.
The growing application scope of the product and the development of high-performance films are expected to boost the product demand over the coming years. Furthermore, innovations in technology to offer sustainable products with minimal environmental impact are projected to propel the demand in the forecast period. Product variation concerning performance and quality to resist stains, abrasions, and scratches is also anticipated to be one of the key factors defining the demand for Paint Protection Films (PPFs).
Furthermore, the introduction of novel technologies to produce long-lasting films with greater resistance to adverse atmospheric conditions is expected to drive the market for paint protection films over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Paint Protection Film Market
The COVID-19 pandemic impacted economies throughout the world owing to massive manufacturing and supply chain disruptions. The government directives and tight enforcement of the lockdown and other pandemic-curbing practices caused a disruption in the supply chain and demand for products and services. Due to the worldwide shutdown and suspension of production activity, the automotive industry was one of the most severely damaged sectors. Technological advancements, such as color variations and superior adhesiveness, in films are estimated to draw consumer attention.
In North America, automotive and transportation films accounted for a prominent market share, with most of the demand from U.S. ceramic coating technologies. These technologies are likely to be utilized as an alternative to paint protection films due to their superior performance against scratches and abrasions, thus negatively influencing the market growth. However, the low cost associated with paint protection films is poised to offer them a competitive advantage over the forecast period. Market players invest in R&D to improve product durability, as these films are installed for a longer duration. Initiatives taken by producers to manufacture flexible films, which could be applied on unique shapes and are compatible with diverse qualities of paints that are applied on surfaces, are projected to unfold growth opportunities for the market.
The selection of raw materials is a key factor for manufacturers to meet the industry standards for the production of paint protection films for different applications. The availability of these products on online platforms is anticipated to boost the growth of the market for paint protection films. In addition, initiatives taken by industry players to offer installation services through company-owned service stations and third-party installers can bode well for market growth during the projected period.
Browse through Grand View Research's Paints, Coatings & Printing Inks Industry Research Reports.
- Ceramic Coating Market – The global ceramic coating market size was valued at USD 9.75 billion in 2021 and is likely to expand at a compound annual growth rate (CAGR) of 7.8% from 2022 to 2030. The ceramic coating promotes increased heat resistance coupled with fewer emissions to the atmosphere.
- 72” Paint Protection Film Market – The global 72” paint protection film market size was valued at USD 15.3 million in 2019 and is expected to register a compound annual growth rate (CAGR) of 4.0% from 2020 to 2027.
Paint Protection Film Market Segmentation
Grand View Research has segmented the global paint protection film market on the basis of application and region:
Paint Protection Film Application Outlook (Volume, Thousand Sq. Meters; Revenue, USD Million, 2017 – 2030)
- Automotive & Transportation
- Electrical & Electronics
- Aerospace & Defense
Paint Protection Film Regional Outlook (Volume, Thousand Sq. Meters; Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights
- April 2022: Covestro AG reported an expansion in domestic investments to increase its production of paint protection film, a protective film for automobiles that is in high demand in Asia.
- October 2021: XPEL announced multiple acquisitions in North America which provides automotive paint protection film, surface protection film, vehicle, and architecture window films porcelain coatings, and others.
Key Companies profiled:
Some prominent players in the global paint protection film market include
- KDX Composite Material
- 3M Company
- Eastman Chemical Company
- Premier Protective Films International
- SWM, Inc.
- XPEL, Inc.
- Avery Dennison Corp.
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