The global paint protection film market was valued at USD 242.4 million in 2019. The market is attributed to grow at a CAGR of 7.2% over the forecast period of 2019 to 2025. Increasing thermoplastic usage, combined with increasing sales of luxury vehicles, is anticipated to boost the development of paint safety films industry.
China is one of the main consumers of thermoplastic polyurethane (TPU) products, and provides sufficient growth for the sustainable development of paint safety products. Strong product demand for paint protection films is driving market growth in cars, airplanes, electronic devices, and ships. In addition, technological advances aimed at delivering innovative goods with reduced environmental effect are expected to fuel demand for paint protection films in the industry.
The key factor driving demand for paint protection film (PPF) is expected to be the product variation in quality and performance to resist scratches, stains and abrasions. In addition, the implementation of new technology for the manufacturing of long-lasting films with superior tolerance to unfavorable atmospheric conditions is expected to fuel the demand for paint safety films over the forecast period.
The global paint protection film market is categorized based on material, and application. Region wise, Asia Pacific was the largest market in 2018, and is anticipated to grow at a significant CAGR over the forecast period. North America is expected to grow at a significant rate over the coming years.
Key players in the global paint protection film market include 3M Company, Eastman Performance Films, LLC, XPEL, Inc., Hexis S.A., STEK-USA, PremiumShield Limited, Reflek Technologies Corporation, ORAFOL Europe GmbH, GRAFITYP Selfadhesive Products NV, OPTICSHIELD, Schweitzer-Mauduit International, Inc., and Avery Dennison Corporation among others.
Key segments of the global paint protection film market
Material Overview, 2015-2025 (USD Million)
- Thermoplastic Polyurethane
- Polyvinyl Chloride
Application Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give a comprehensive outlook of the global paint protection film market industry
- Paint protection film are widely used for various end uses owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing transportation and construction activities in the market, there is a rise in the demand for paint protection film which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global paint protection film market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of end uses, and type. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global paint protection film market is suitable for all the players across the value chain including raw material suppliers, paint protection film providers, construction, transportation, packaging end users, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global paint protection film market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global paint protection film market
The global paint protection film market has seen strong development over the past couple of years with its end-business, and is anticipated to continue the rally in the coming years. The main driving factor would be a rise in demand for the product in various end-industries such as automotive, electronics, construction, transportation and marine.
Advances in technologies such as improved adhesivity and color differences are projected to draw market growth over the forecast period. North America automobile and construction sector accounted for the highest market share with more than 70.0% of sales throughout the year 2019, with most demand from U.S. ceramic coating technology. The factor is expected to be used as a replacement for paint resistance film due to their superior abrasion and scratch efficiency, thereby affecting consumer demand in the industry. Higher costs linked to paint safety material is projected to give them a competitive edge over the coming years.
The market is highly competitive in nature on account of high product volumes and product variation offered by several local and multinational players. Selection of raw materials is a key factor for manufacturers to meet industry standards for the production of paint protection film for different applications.
Availability of paint protection film on online platforms, which makes them user-friendly for clients across the globe, is anticipated to boost the market growth. Furthermore, initiatives taken by industry players to offer installation services through company-owned service stations and third-party installers is expected to drive the market growth over the forecast period.
The global paint protection film market has been segmented based on material, and application. Based on material, the market is categorized into thermoplastic polyurethane, polyvinyl chloride and others. On the basis of applications, the market is categorized into automotive, electronics, construction and others.
Automobile and transport appeared as the leading category of applications. Rapid industrialization, coupled with increasing transportation needs, has led to increased demand for passenger and commercial vehicles, thereafter driving demand for paint protection films. Furthermore, increasing awareness regarding vehicle maintenance is expected to support the growth of the segment.
The section Aerospace and Defense is expected to experience a CAGR in many countries as a consequence of rising air travel, combined with raising military activities. A rise in the manufacture of ships, where paint safety films are used to defend vessels from corrosion and oxidation, is expected to boost demand.
Properties such as self-healing, elasticity, non-yellowing, and recyclability, among others, are projected to drive the growth of paint safety films centered on thermoplastic polyurethane during the forecast era. In fact, the material's affordability is projected to further accelerate demand development in the immediate future.
The global paint protection film market is divided on the basis of region as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific dominated the global paint protection film market in 2019; however, North America is expected to grow at a significant pace through the year 2025.
Asia Pacific is the main user of paint safety films, and is projected to rise during the forecast period at the fastest CAGR. This rise is due to the growing sales of luxury cars in the Asia Pacific area combined with China becoming the largest manufacturer and user of polyurethane thermoplastic products, which is the key base products for paint safety films manufacturing.
Over the prediction timeframe, the North American industry is expected to show a CAGR of over 5.0%, in terms of revenue. This is due to rising vehicle demand and aging fleet numbers. It is also anticipated the advanced manufacturing market, the involvement of global original equipment manufacturers (OEMs), and supportive policy legislation would boost drug demand in the years to come.
Thanks to large output levels of passenger vehicles and aircrafts, the Europe sector was estimated at USD 64.4 million in 2019. The global demand is projected to be guided by increasing defense budgets from countries like the U.K., Germany and France and the growth of the electronics industry.