BEIJING, Nov. 30, 2022 (GLOBE NEWSWIRE) — The Global paint protection film market The size accounted for USD 492 million in 2021 and is expected to reach a market size of USD 869 million by 2030, growing at a CAGR of 6.7% from 2022 to 2030.
Paint Protection Films Market Statistics
- The global paint protection films market revenue was USD 492 million in 2021 growing at a CAGR of 6.7% from 2022 to 2030
- Asia-Pacific accounted for 37.2% of the paint protection film market share in 2021
- Europe paint protection film market growth is expected to increase at a CAGR of 7.4% from 2022 to 2030
- By application, the automotive segment captures more than 67.8% of the total market share in 2021
- Rising Demand for Luxury Vehicles Drives the Market Value of Paint Protection Films
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Paint Protection Film Market Coverage:
|Market||paint protection film market|
|paint protection film market Size 2021||$492 million|
|paint protection film market Forecast 2030||$869 million|
|paint protection film market CAGR from 2022 to 2030||6.7%|
|paint protection film market Analysis period||2018 – 2030|
|paint protection film market Year of reference||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, Middle East and Africa|
|Profiled Key Companies||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 cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
Paint Protection Films Market Overview
Paint Protection Film (PPF) is a thin film composed of a thermoplastic urethane substance. These films are used to protect painted surfaces of electronic devices, automobiles and aircraft against a variety of scratching agents such as insect splatter, mild abrasives and stone chips. These films help considerably in keeping a vehicle looking like new. These are variously referred to as transparent film, transparent paint film, PPF and others. These films are primarily used to protect painted surfaces of automobiles and other modes of transportation from damage caused by rock fragments and other debris. These are widely used in a variety of applications including electrical and electronics, aerospace, automotive, and defense, among others.
Paint Protection Film Market Trends
According to the estimation and product separation methodologies, the industry has been characterized globally by exceptional hurdles among large and small companies. A notable trend is the redevelopment of paint protection film in aerospace applications, where it is used in everything from fuselage skins to cockpit instrument panels, prompting companies to supply specific items until further notice in various apps.
From a consumer perspective, better paid recyclability has allowed customers to choose from a variety of paint protection solutions and administrations. Teflon coatings have traditionally been the preferred choice due to their low cost and reasonable lifespan. Be that as it may, the PPF has acquired notable quality due to its adaptability of use, which includes selected sections of a vehicle or the vehicle entirely, and an item life that extends up to five years after the foundation.
As these films are released over a longer period of time, market players are expected to invest in R&D to improve the strength of the items. Efforts by manufacturers to provide adaptable films that can be paired with 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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Segmentation of the paint protection film market
The global paint protection film market has been segmented by Acumen Research and Consulting on the basis of 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 expected to grow significantly over the next few years. TPU films are more flexible, naturally tough, and easy to place on car surfaces, making them popular in the automotive industry. These films generated the highest revenue share in 2021, due to their superior quality, pressure sensitivity, anti-corrosion, transparent, anti-yellowing qualities, etc.
In terms of application, the market is categorized into automotive, aerospace, electrical & electronics, and others. Among the application sectors, the aerospace segment is expected to grow at a rapid rate throughout the projected period, owing to the increase in air transport and increased military measures by a number of countries. The booming aircraft manufacturing market, which uses paint protection films to protect ships against oxidation and corrosion, is expected to fuel demand.
Regional Overview of Paint Protection Film Market
Based on region, the global paint protection films market segmentation is done into Asia-Pacific, North America, Europe, Middle East & Africa and Latin America. According to an industry analysis of paint protection films, Asia-Pacific leads the global market in 2021, followed by Europe and North America. Over the assessment period, the Europe region is expected to grow at a significant CAGR. Germany, UK 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 use of paint protection films in the automotive industries. and aeronautics. The created regions, such as Latin America and North America, are expected to witness crucial growth due to an increase in the volume of car production and trade in these regions. Furthermore, increasing rate of incorporation in the hardware industry along with continued expansion in aviation and security segments is expected to drive the expansion of the regional market.
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Paint protection film market players
Some of the major companies in the paint protection film market 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 this report answers
- What was the market size of the Paint Protection Film Market in 2021?
- What will be the CAGR of the Paint Protection Film Market during the forecast period from 2022 to 2030?
- Who are the key players in the Global Paint Protection Film Market?
- Which region held the largest Paint Protection Film market share in 2021?
- What are the key drivers of the Paint Protection Film Market?
- What is the largest end-user Paint Protection Film market?
- What will be the value of the Paint Protection Film market in 2030?
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