BEIJING, Nov. 30, 2022 (GLOBE NEWSWIRE) — The Global Paint Protection Film Market Size accounted for USD 492 Million in 2021 and is estimated to achieve a market size of USD 869 Million by 2030 growing at a CAGR of 6.7% from 2022 to 2030.
Paint Protection Film Market Statistics
- Global paint protection film market revenue was worth USD 492 million in 2021, with a 6.7% CAGR from 2022 to 2030
- Asia-Pacific region was accounted 37.2% of paint protection film market share in 2021
- Europe paint protection film market growth is expected to expand at a CAGR of 7.4% from 2022 to 2030
- By application, automotive segment capture over 67.8% of total market share in 2021
- Increasing demand for luxury vehicles, drives the paint protection film market value
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Paint Protection Film Market Coverage:
|Market||Paint Protection Film Market|
|Paint Protection Film Market Size 2021||USD 492 Million|
|Paint Protection Film Market Forecast 2030||USD 869 Million|
|Paint Protection Film Market CAGR During 2022 – 2030||6.7%|
|Paint Protection Film Market Analysis Period||2018 – 2030|
|Paint Protection Film Market Base Year||2021|
|Paint Protection Film Market Forecast Data||2022 – 2030|
|Segments Covered||By Product, By Application, And By Geography|
|Paint Protection Film Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||3M Company, Avery Denison, Argotec, LLumar, DuraShield, PremiumShield, Paint Shield, Solar Gard, Premier Protective Films International, Vanzetti, Proshield, SunTek Films, StarShield Solutions, and XPEL Technologies|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Paint Protection Film Market Overview
Paint protection film (PPF) is a thin film composed of a thermoplastic urethane substance. These films are used to protect the painted surfaces of electronic devices, automobiles, and airplanes from a variety of scratching agents such as bug splatters, mild abrasives, & stone chips. These films significantly aid in the retention of a vehicle’s brand-new aspect. These are variously referred to them as clear film, clear paint film, PPF, and others. These films are primarily used to protect the painted surfaces of automobiles and other modes of transportation against damage caused by rock fragments and other debris. These are widely utilized in a variety of applications, including electrical and electronics, aerospace, automotive, and defense, among others.
Paint Protection Film Market Trends
According to methodologies for estimating and product separation, the industry has been characterized globally by outstanding obstacles among large and small-scale firms. A noteworthy trend is the re-development of paint protection film in aerospace applications, where it is used in everything from fuselage coverings to cockpit instrument panels, prompting firms to supply specific things till further notice in various applications.
From a consumer standpoint, higher pay recyclability has let customers select from various paint protection solutions and administrations. Teflon coatings were traditionally the preferred choice due to their lower cost and reasonable life expectancy. Regardless, PPF has gained noticeable quality due to its adaptability of usage, which includes selected sections of a vehicle or the vehicle entirely, and item life span that extends up to five years after the foundation.
As these films are launched for a longer period of time, market players are expected to invest in R&D to enhance item toughness. Manufacturers’ efforts to supply adaptable films that can be joined to the one-of-a-kind design and are ideal with varied characteristics of paints associated with surfaces are expected to spur development and open opportunities for the market.
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Paint Protection Film Market Segmentation
The global paint protection film market has been segmented by Acumen Research and Consulting based on product, and application. By product, the segment is separated into TPU (thermoplastic polyurethane), polyethylene, PVC (polyvinyl chloride), polyester, and PET (polyethylene terephthalate). According to the paint protection film market forecast, the TPU (thermoplastic polyurethane) category is predicted to develop significantly in the next years. TPU films are more flexible, naturally robust, and easy to place on car surfaces, making them popular in automotive industries. These films generated the highest revenue share in 2021, owing to their superior quality, pressure sensitivity, anti-corrosion, transparent qualities, anti-yellowing, and so on.
In terms of application, the market is categorized into automotive, aerospace, electrical & electronics, and others. Among application sectors, the aerospace segment is expected to grow at a rapid pace throughout the projected period, due to increasing air transportation and increased military measures by a number of countries. The thriving aircraft manufacturing market, which uses paint protection films to safeguard vessels from oxidation and corrosion, is expected to fuel demand.
Paint Protection Film Market Regional Overview
Based on the region, the worldwide paint protection film market segmentation is into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. According to a paint protection film industry analysis, Asia-Pacific lead the global market in 2021, followed by Europe And North America. Over the evaluation period, the Europe region is expected to grow at a significant CAGR. Germany, the United Kingdom, and France are among the most enthusiastic supporters of the province’s emerging market and will maintain their dominance over the next few years due to the widespread usage of paint protection film in the automotive and aviation industries. Created regions, such as Latin America and North America, are expected to have crucial growth because of an increase in the volume of car production and trade in these regions. Furthermore, boosting the incorporation rate in the hardware industry alongside the continued expansion of the aviation and security segments is expected to drive regional market expansion.
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Paint Protection Film Market Players
Some of the prominent paint protection film market companies are 3M Company, SunTek Films, Argotec, DuraShield, Paint Shield, Premier Protective Films International, Proshield, StarShield Solutions, LLumar, PremiumShield, Solar Gard, Vanzetti, Avery Denison, and XPEL Technologies.
Questions Answered By This Report
- What was the market size of Paint Protection Film Market in 2021?
- What will be the CAGR of Paint Protection Film Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Paint Protection Film Market?
- Which region held the largest share in Paint Protection Film Market in 2021?
- What are the key market drivers Paint Protection Film Market?
- Who is the largest end user Paint Protection Film Market?
- What will be the Paint Protection Film Market value in 2030?
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