“In terms of value, paint protection films market is projected to grow at a CAGR of 7.1% between 2019 and 2024.”
In terms of value, the global paint protection films market size is estimated to be USD 242 million in 2019 and is projected to reach USD 341 million by 2024, at a CAGR of 7.1% from 2019 to 2024. Increasing consumption of thermoplastic consumption, coupled with rising sales of luxury cars, is expected to drive the growth of paint protection films industry during the forecast period. Moreover, China being one of the largest producer & consumer of thermoplastic polyurethane material, creates a scope for sustainable growth of paint protection films.
“Thermoplastic polyurethane (TPU) is the dominant material which is likely to drive the market during the forecast period.”
Based on material, the paint protection films market has been classified into thermoplastic polyurethane, polyvinyl chloride, and others. Properties such as self-healing, elasticity, non-yellowing, and recyclability, among others, are expected to drive the growth of thermoplastic polyurethane-based paint protection films during the forecast period. On account of all these properties, this material is expected to grow at an impressive CAGR over the forecast period.
“Automotive is the major consumer of paint protection films market and is expected to grow further.”
Based on end-use industry, the paint protection films market has been classified into automotive, electronics, construction, and others. In terms of volume & value, the automotive industry accounted for the largest share and is expected to grow briskly during the forecast period. This growth can be attributed towards cautiousness for maintenance of showroom finish of the vehicles, increasing resale value, and low impact of automotive industry slowdown to the sales of luxury cars throughout the globe.
“Asia Pacific occupied for the majority of the market share in 2019 and is projected to witness the fastest growth during the forecast period.”
Based on geography, the paint protection films market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South Africa. In terms of value, the Asia Pacific region accounted for the largest share in the paint protection films market. This growth is attributed towards increasing sales of luxury cars in the Asia Pacific region coupled with China being one of the largest producer and consumer of thermoplastic polyurethane material which is the primary base material for manufacturing paint protection films.
Breakdown of primary interviews for the report on the paint protection films market
- By Company Type – Tier 1 – 20%, Tier 2 –45%, and Tier 3 – 35%
- By Designation – C-Level – 20%, Director Level – 25% and Others – 55%
- By Region –Europe- 50%, North America – 20%, Asia Pacific– 15%, South America- 10%. Middle East & Africa – 5%
The leading paint protection films manufacturers, globally, profiled in this report are 3M Company (US), XPEL, Inc. (US), Eastman Performance Films, LLC (US), Hexis S.A. (France),PremiumShield Limited (US), STEK-USA (US), Reflek Technologies Corporation (US), GRAFITYP Selfadhesive Products NV (Belgium), ORAFOL Europe GmbH (Germany), OPTICSHIELD (Czechia), SCHWEITZER-MAUDUIT INTERNATIONAL, INC. (US), Avery Dennison Corporation (US), and others.
The report covers the paint protection films market based on material, end-use industry, and region. This report aims at estimating the size and future growth potential of the paint protection films market across various segmentations. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this report has been focusing on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the paint protection films market, high-growth regions, and drivers, restraints, opportunities, and challenges in the paint protection films market.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on various patented paint protection films offered by top players operating in the paint protection films market.
- Product Development/Innovation: A detailed insight into upcoming materials to manufacture paint protection films, R&D activities, and new applications in various end-use industries in the paint protection films market.
- Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for paint protection films across different regions.
- Market Diversification: An exhaustive information about new products, untapped geographies, recent developments, and investments in the paint protection films market.
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the paint protection films market.