Paint Protection Film is a thin film made up of a thermoplastic urethane material. These films are applied to the painted surface of electronic products, airplanes and automotive in order to protect it from a number of scratches such as minor abrasives, splatters, and stone chips. These films are mainly used to avoid damage to the painted surface of automotive and other transportation vehicles, caused by rock chips and other material. Rise in demand for electronic products, growing automotive sector, and rising defense budgets of various countries. Moreover, improved economic condition, increasing automotive production and automotive sales, and rising consumer preferences towards cost-effective products are some of the major factors which boost the growth of the market. However, high costs of installation, and increased costs of the raw materials is one of the major attribute which hampers the growth of the market.
Global Paint Protection Film Market: Key Players
The research study includes profiles of leading companies operating in the global paint protection film market. Key players profiled in the report include: 3M Company, XPEL, Inc., Eastman Performance Films, LLC, Hexis S.A., PremiumShield Limited, STEK-USA, Reflek Technologies Corporation, GRAFITYP Selfadhesive Products NV, ORAFOL Europe GmbH and OPTICSHIELD. In May 2019, Avery Dennison Corporation added new products to its portfolio which includes new Supreme Wrapping Film colours, Supreme Protection Film XI (SPF-XI) film and a comprehensive range of automotive window films. This new launch provides cost-effective solutions for protecting vehicles and other areas against external damage on paint from stone chips, road debris, and other occurrences while travelling.
Drivers for the Global Paint Protection Film Market:
The increased demand for the electronic products and rise in the adoption of new luxury cars are some of the major attributes which is likely to boost the growth of the market in the estimated forecasts period. In addition, availability of raw materials and presence of several major players with abundant availability of raw materials and presence of several major players with technologically advanced production capacities have resulted in an increased demand for paint protection in the estimated forecast period.
Opportunities for the Global Paint Protection Film Market:
Some of the factors such as product durability, price, and environment friendliness also propel the growth of the market. Moreover, rise in the use of paint protection in several industries, which include aerospace, automotive industries and others are likely to boost the growth of the market in the estimated forecasts period.
Restrains for the Global Paint Protection Film Market:
Some of the factors such as high costs of installation and presence of skilled labor hamper the growth of the market. Moreover, subsequent changes in the prices of raw materials inhibit the growth of the market in the estimated forecast period.
Region Wise, Global Paint Protection Film Market Analysis:
North America anticipated having the largest share in the market. This can be attributed to the large number of industries and increased demand for the luxury cars, which is likely to have an impact on the growth of the market. Moreover, increased demand for electronic product also propels the growth of the market in this region. Moreover, addition, increased production of raw materials and presence of major players is one of the major attributes which boost the growth of the market in this region.
Global Paint Protection Film Market: Product Analysis
- TPU (Thermoplastic Polyurethane)
- PVC (Polyvinyl Chloride)
- PET(Polyethylene Terephthalate)
Global Paint Protection Film Market: Application analysis
Global Paint Protection Film Market: Region Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East