The Global Paint Protection Film Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Paint Protection Film market is segmented by Material type (Thermoplastic Polyurethane, Polyvinyl Chloride and Others); End user (Automotive And Transportation, Electrical and Electronics, Aerospace and Defense and Others); Geography (APAC, North America, Europe and ROW).
Introduction
Paint Protection Film is categorized as a thin film made up of a thermoplastic urethane material. These films are applied to the painted surface of electronic products, automotive, and airplanes in order to protect it from a number of scratch agents such as minor abrasives, bug splatters, and stone chips.
Paint protection films ensure durability of paint and coating base and preserves it against extreme climatic conditions which can cause fading of color shade or corrosion of the vehicle body.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The Global paint protection film market is expected to have incremental growth of $127.2 million during 2020-2025
Growth momentum is expected to accelerate during the forecast period with 6.82% CAGR
The market is expected to recover from 2021 onwards with industrial and transportation activities getting back on track and functioning with full capacities.
Increasing thermoplastic consumption, coupled with rising sales of luxury cars, is expected to drive the growth of paint protection films industry during the forecast period.
APAC is forecasted to remain as largest consumer for this market
Key Trends
Innovations in technology to offer sustainable products with minimal environmental impact are projected to drive the demand for paint protection film
Increasing demand for paint protection film in other applications is expected to trigger the market growth in future.
Key Market Players
Some of the key players in the market are 3M, Eastman Performance Films, XPEL, KDX Composite Material, Avery Dennison Corporation, PremiumShield.
The key players are rigorously competing and offering custom solutions for high-performance low-cost PPF requirements.
Major players focus on mergers & acquisitions, expansion of their manufacturing facilities, infrastructural development, investments in R&D facilities, and are seeking opportunities to vertically integrate across the value chain.
Growth Drivers and Challenges
Rising demand from the automotive and transportation industry is significantly driving the market.
Product variation in terms of quality and performance to resist scratches, abrasions, and stains is anticipated to be one of the key factors driving the demand for paint protection film (PPF)
Stringent and regulatory policies is hindering the market growth
It is not very hydrophobic. This has improved in the recent years. However, many professional PPF installers actually offer ceramic coating applications on top of paint protection films, for a superior paint protection solution.
Price of paint protection film is much higher than car wax, and ceramic coatings