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Paint Protection Film Market Share, Growth & Forecast [2031]
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Paint Protection Film Market Share, Growth & Forecast [2031]

Segments - Paint Protection Film Market by Materials (Polyvinyl Chloride, Thermoplastic Polyurethane, and Others), Finish (Matte, Glass, and Others), Applications (Aerospace & Defense, Electrical & Electronics, Automotive & Transportation, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023– 2031

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Author : Riddhesh Dani
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Fact-checked by : Harneet Meher
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Editor : Shruti Bhat

Upcoming | Report ID :MC-4375 | 4.3 Rating | 68 Reviews | 199 Pages | Format : PDF Excel PPT

Report Description


The paint protection film (PPF) market was valued at USD 313.38 million in 2022 and is projected to reach USD 520.53 million by 2031, expanding at a CAGR of around 5.8% during the forecast period, 2023 – 2031. The growth of the market is attributed to increasing use of paint protection films by automotive sector.

Paint protection film is a somewhat thick, translucent urethane covering sprayed to the tops of body panels to protect the paint underneath. During the Vietnam War, paint protection film was developed to shield helicopter rotor blades from dust, debris, and shrapnel. Furthermore, in the forecast future, technological advancements aimed at providing sustainable products with little environmental impact are expected to drive demand.

Paint Protection Film Market Summary

The COVID-19 pandemic wreaked havoc on global economy, causing huge production and supply chain disruptions. The Covid-19 pandemic affected the demand and supply of paint protection film market.

Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

  • Increasing demand from end-user industries is anticipated to boost the market during the projected period.

  • Technological advancements providing sustainable products with little environmental impact are expected to drive the market during the forecast period.

  • Development of novel technologies for producing long-lasting films that are more resistant to unfavorable weather conditions are estimated to fuel the market.

  • High cost of installation is expected to hinder the market growth in the coming years.

  • R&D investment and technological advancement in PPF is anticipated to create lucrative opportunities for the market players.

Scope of the Report

The report on the global paint protection film market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Paint Protection Film Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023 – 2031

Segmentation

Materials (Polyvinyl Chloride, Thermoplastic Polyurethane, and Others), Finish (Matte, Glass, and Others), Applications (Aerospace & Defense, Electrical & Electronics, Automotive & Transportation, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Avery Dennison Corp.; XPEL, Inc.; SWM, Inc.; Renolit; Premier Protective Films International; Eastman Chemical Company; 3M Company; KDX Composite Material; Reflek Technologies Corporation; PremiumShield Limited; and Hexis S.A.

Market Segment Insights

Thermoplastic polyurethane segment is projected to grow at a rapid pace during the forecast period

Based on materials, the market is segregated into polyvinyl chloride, thermoplastic polyurethane, and others. The thermoplastic polyurethane segment is estimated to projected to expand at a high CAGR during the forecast period. Growth of the segment is attributed to factors such as recyclability, non-yellowing, elasticity, and self-healing. Increased transparency given by thermoplastic polyurethane over PVC is estimated to drive the market.

Glass segment is anticipated to expand at a robust rate during the forecast period

In terms of finish, the market is divided into matte, glass, and others. The glass segment is anticipated to expand at a robust rate during the forecast period. The glass finish is very glossy and lightweight, giving the aerospace and defense industry a competitive advantage in terms of fuel efficiency.

Paint Protection Film Market Finish

Automotive & transportation segment accounted for a major market share in 2021

On the basis of applications, the market is fragmented into aerospace & defense, electrical & electronics, automotive & transportation, and others. The automotive & transportation segment held around 70% of the total market share in 2021 and is projected to maintain its dominance during the forecast period.

Rapid industrialization, along with an increased need for mobility, has stoked demand for commercial and passenger vehicles, resulting in market expansion. Furthermore, rising awareness about vehicle maintenance is expected to drive the market during the projected period.

The aerospace & defense segment is estimated to expand at a high CAGR during the forecast period as a result of increased air transportation and defensive tactics by a several of countries. Paint protection films are used to protect vessels from corrosion and oxidation in the rapidly developing aviation manufacturing market, which is expected to increase the product demand.

Consumers all across the world are buying paint protection treatments to keep their everyday electronic devices such as refrigerators, television sets, tablets, laptops, and computers in good condition. Increasing demand from others segment is projected to boost the market for paint protection films.

In addition, the product is used in a variety of marine applications such as offshore wind energy, deep-sea mining and exploration, maritime safety and security, and offshore oil & gas production.

Asia Pacific dominated the market in 2021

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific held around 35% of the total market share in 2021.

The existence of strong automobile manufacturing and consumption is attributed drive the market in the region. Factors such as obtainability of raw materials, low labor cost, and increasing transportation activities are anticipated to boost the market.

Paint Protection Film Market Regions

Segments

The global paint protection film market has been segmented on the basis of

Materials

  • Polyvinyl Chloride
  • Thermoplastic Polyurethane
  • Others

Finish

  • Matte
  • Glass
  • Others

Applications

  • Aerospace & Defense
  • Electrical & Electronics
  • Automotive & Transportation
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Avery Dennison Corp.
  • XPEL, Inc.
  • SWM, Inc.
  • Renolit
  • Premier Protective Films International
  • Eastman Chemical Company
  • 3M Company
  • KDX Composite Material
  • Reflek Technologies Corporation
  • PremiumShield Limited
  • Hexis S.A.

Competitive Landscape

Key players competing in the paint protection film market include Avery Dennison Corp.; XPEL, Inc.; SWM, Inc.; Renolit; Premier Protective Films International; Eastman Chemical Company; 3M Company; KDX Composite Material; Reflek Technologies Corporation; PremiumShield Limited; and Hexis S.A.

Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of the business in the coming years. For instance,

  • In October 2021, XPEL, a company that makes surface protection film, architecture window films porcelain coatings, automobile paint protection films, and vehicle has made several acquisitions in North America.

  • In April 2022, Covestro AG announced an increase in domestic investments to enhance the company's production of paint protection film, a high-demand automotive protective film in Asia.

Paint Protection Film Market Key Players

Frequently Asked Questions

Materials, Finish, and Applications are the segments provided in the paint protection film market report.

The paint protection film (PPF) market is projected to expand at a CAGR of around 5.8% during the forecast period, 2023 – 2031.

The paint protection film (PPF) market was valued at USD 313.38 million in 2022.

Asia Pacific dominated the market in 2021.

Renolit; Premier Protective Films International; Eastman Chemical Company; 3M Company; KDX Composite Material are some of the key players in the paint protection film market.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Paint Protection Film Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Paint Protection Film Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Paint Protection Film Market - Supply Chain
  4.5. Global Paint Protection Film Market Forecast
     4.5.1. Paint Protection Film Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Paint Protection Film Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Paint Protection Film Market Absolute $ Opportunity
5. Global Paint Protection Film Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Paint Protection Film Market Size and Volume Forecast by Applications
     5.3.1. Aerospace & Defense
     5.3.2. Electrical & Electronics
     5.3.3. Automotive & Transportation
     5.3.4. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Paint Protection Film Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Paint Protection Film Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Paint Protection Film Demand Share Forecast, 2019-2026
7. North America Paint Protection Film Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Paint Protection Film Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Paint Protection Film Market Size and Volume Forecast by Applications
     7.4.1. Aerospace & Defense
     7.4.2. Electrical & Electronics
     7.4.3. Automotive & Transportation
     7.4.4. Others
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Paint Protection Film Demand Share Forecast, 2019-2026
8. Latin America Paint Protection Film Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Paint Protection Film Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Paint Protection Film Market Size and Volume Forecast by Applications
     8.4.1. Aerospace & Defense
     8.4.2. Electrical & Electronics
     8.4.3. Automotive & Transportation
     8.4.4. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Paint Protection Film Demand Share Forecast, 2019-2026
9. Europe Paint Protection Film Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Paint Protection Film Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Paint Protection Film Market Size and Volume Forecast by Applications
     9.4.1. Aerospace & Defense
     9.4.2. Electrical & Electronics
     9.4.3. Automotive & Transportation
     9.4.4. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Paint Protection Film Demand Share Forecast, 2019-2026
10. Asia Pacific Paint Protection Film Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Paint Protection Film Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Paint Protection Film Market Size and Volume Forecast by Applications
     10.4.1. Aerospace & Defense
     10.4.2. Electrical & Electronics
     10.4.3. Automotive & Transportation
     10.4.4. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Paint Protection Film Demand Share Forecast, 2019-2026
11. Middle East & Africa Paint Protection Film Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Paint Protection Film Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Paint Protection Film Market Size and Volume Forecast by Applications
     11.4.1. Aerospace & Defense
     11.4.2. Electrical & Electronics
     11.4.3. Automotive & Transportation
     11.4.4. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Paint Protection Film Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Paint Protection Film Market: Market Share Analysis
  12.2. Paint Protection Film Distributors and Customers
  12.3. Paint Protection Film Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Avery Dennison Corp.
     12.4.2. XPEL, Inc.
     12.4.3. SWM, Inc.
     12.4.4. Renolit
     12.4.5. Premier Protective Films International
     12.4.6. Eastman Chemical Company
     12.4.7. 3M Company
     12.4.8. KDX Composite Material

Methodology

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