- It is anticipated that growing customer understanding of vehicle paint safety against bug splatters, stone chipping, and abrasions would boost the demand for the Paint Protection Films (PPF) industry
- Market Size – USD 267.5 Million in 2019, Market Growth - CAGR of 6.9%, Market Trends – High demand from developing nations
NEW YORK, July 20, 2020 /PRNewswire/ -- The global Paint Protection Film Market is forecasted to reach USD 461.7 Million by 2027. Paint safety film is a thermoplastic coating that cures when added to painted surfaces. The product is commonly used in the automotive industry to cover certain parts that are more vulnerable to abrasion or harm. Paint safety film is used in various parts of the vehicle, such as a door panel, bonnet, front bumper, rear bumper, side panel, side skirt, etc. The product prevents the car from soil, wax, mud, bugs, etc. induced by surface stains. It also gives a long period to maintain the vehicle surface to finish flawless. In effect, increasing demand for lightweight automobiles and hybrid cars will boost the market for color safety films in the coming years. Improvement in the electronic industry would increase the growth in the market size of paint safety film due to its usage in different electronic equipment such as mobile phones, LED displays, household appliances, etc. Consequently, growing development in the consumer electronics business will render the Asia Pacific an essential region in the coming years.
The sector of Aerospace & Defense is expected to rise in the coming years at a growing CAGR due to widespread usage of the substance to cover the surfaces of the aircraft. It helps to shield the glass-made pieces from debris, high impact abrasion, and scratches. The material is used both for aircraft interiors and exteriors. In 2018, the operating global commercial fleet was projected at about 26,000 aircraft, which is expected to rise to about 37,000 over the next ten years. Thanks to the involvement of many component suppliers, North America is a significant area in the paint film industry. Another growth enabler on the business will be growing aircraft and vehicle demand in the domain. The U.S. now has more than 3,600 combat aircraft, which, due to its increasing defense expenditure, will increase more in the coming years. Due to its proliferating electronics industry, Asia Pacific is another crucial market with a growing CAGR. As the product is commonly used in the electronics industry to maintain the surface of electrical devices, growing development in this sector in the coming years would result in increased demand for the paint safety film market.
Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/3347
The demand for paint protection film is extremely competitive because of the stable commodity prices and paint protection film variety provided by various local films and international players. Besides, raw material quality is one of the main reasons for producers to follow the specific market requirements for the manufacture of protective films for broad applications. Projected to fuel global demand growth is the launch of these goods on the online e-commerce website, which renders them user-friendly for consumers across the globe. Also, numerous measures taken by major industry players to accommodate installation services through company-owned service stations and third-party installers will generate potential opportunities during the forecast period for global business development.
Products such as 3M Clear Bra and XPEL Ultimate Plus will have a consistent edge over its competitors because of the regular technological upgradations and superior quality and after sales service.
To identify the key trends in the industry, click on the link below:
The COVID-19 impact:
While the COVID-19 epidemic is growing, manufacturers are increasingly adapting their industry and buying approaches to satisfy the demands of a pandemic that has established the Paint Protection Film market-based need. A series of positive as well as negative shocks may arise over a few months as manufacturers and their vendors respond to rising consumer demands. With an adverse global situation, several countries look vulnerable to export-dependent economies. Due to a lack of downstream demand, some factories either shut down or decrease their capacity, the impact of this pandemic will reshape the global Paint Protection Film industry. However, others stopped their output as a precautionary move by their respective governments to avoid the spread of the virus. In other countries, when looking at the magnitude of the epidemic and the consequent actions of the regional authorities themselves, consumers are centered on being more central. Throughout such situations, the market conditions have been volatile throughout Asia Pacific countries, collapsing periodically and finding themselves challenging to stabilize.
Further key findings from the report suggest
- Based on the material, polyvinyl chloride generated a revenue of USD 0.032 billion in 2019 and predicted to rise with a CAGR of 6.0% in the forecast period due to its wide variety of applications owing to excellent properties such as lightweight, abrasion resistance, better mechanical strength, low cost.
- The matte finish expected to grow with a CAGR of 6.1% in the forecasted period, as they are much more prone to damage than the glossy ones and are more costly. Thus, matte finish paint safety films are more appropriate to be used instead of other sections for coating the entire vehicle.
- The automotive & transportation industry is the major contributor to the Paint Protection Film Market. The automotive & transportation sectors of the Asia Pacific region are the major shareholder of the market and held around 70.2% of the market in the year 2019, owing to the rapid industrialization, combined with growing transportation requirements, culminated in expanded demand for passenger and commercial cars.
- The Asia Pacific dominated the market for Paint Protection Film in 2019. The region's consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The Asia Pacific region held approximately 37.3% of the market, followed by North America, which contains around 24.9% market in the year 2019.
- Key participants include Zhejiang Shichuang Optics Film Manufacturing Co. Ltd., Avery Dennison Corporation, Eastman Chemical Company, 3M, CCL Industries, Reflek Technologies Corp., Xpel Inc., Hexis S.A., Saint-Gobain, and STEK USA, among others.
For the purpose of this report, Reports and Data have segmented into the global Paint Protection Film market on the basis of material, finish, application, and region:
- Material Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Thermoplastic Polyurethane
- Polyvinyl Chloride
- Polyethylene Terephthalate (PET)
- Finish Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
- Matte Finish
- Gloss Finish
- Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Automotive & Transportation
- Electrical & Electronics
- Aerospace & Defense
- Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
Browse more similar reports on Paints and Coatings category by Reports And Data
- Printing Toners Market: https://www.reportsanddata.com/report-detail/printing-toners-market
- Dyes & Pigments Market: https://www.reportsanddata.com/report-detail/dyes-and-pigments-market
- Silanes Market: https://www.reportsanddata.com/report-detail/silanes-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
SOURCE Reports And Data