Global "Paint
Protection Film Market" 2022 Industry
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In this report, we
thoroughly examine and analyse the Global market for Paint Protection Film so
that market participants can improve their business strategy and ensure
long-term success. This report provides players with useful information and
suggests result-based ideas to give them a competitive advantage in the global Paint
Protection Film industry. It will show how other players compete in the global Paint
Protection Film Market and explain the strategies you use to differentiate
yourself from other participants.
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The global Paint Protection
Film market is expected to reach USD 369.3 million by 2022. The market is
driven by factors such as growing rate of automobile such as cars, bikes, and
the other high-end vehicles coupled with rise in disposable income and increase
in spending in automotive as well as OEM sector. The paint protection film
market is expected to witness a CAGR of 6.6% in the forthcoming period.
Economic stability acts as
a booster for Paint Protection Film in a particular geographical market. Other
than automobiles and OEM, paint protection film is used against abrasion in
smartphones, mobile phones, and the other electronic items. Proliferation of
paint protection films for these applications is a crucial factor for market
development in the near future.
Paint Protection Film is a
robust thermoplastic urethane material applied to painted surfaces to protect
the paint from abrasions, bug splatters, mud, debris, sand, and stone chips.
PPF films find uses in applications ranging from automobiles, aircrafts,
watercrafts, cell phones, smart gadgets, desktop, and laptop screens and many
more. Service life of a PPF also needs careful determination. Besides, the PPF
films are extremely durable and there is low probability that it may live a
shorter life than the vehicle.
The market witnesses
several opportunities for development in near future, such as rising number of
OEM and electronic manufacturers, rise in young population with streamline, and
customized demands for automobile paints and presence of international brands.
However, availability of cheap substitutes at reasonable prices contrary to the
original product availability at higher price coupled with high installation
costs may fluctuate the market demand ultimately creating challenges for market
growth during the given forecast period.
The market is trifurcated
into product, application, and geography. Geographical segmentation for Paint
Protection Film market spans North America, South America, Europe,
Asia-Pacific, Middle East and Africa. North American market is expected to rise
at a staggering CAGR in the forthcoming period owing to rising penetration of
paint protection films in non-automotive applications coupled with presence of
large pool of consumers.
On the other hand, European
market is expected to follow the trend along with presence of OEMs and
innovative concepts for automotive paints. EU countries such as Germany and
France are major manufacturer and suppliers of paint protection films mainly
for defense, automotive and aerospace domain. Asia-Pacific’s Paint Protection
Film market is anticipated to grow at a higher CAGR in the forecast period
owing to flourishing market in South Korea, Japan, China and India with the
presence of PPF manufacturers and substitutes for international brands.
Middle East and African
regions are anticipated to grow at a positive CAGR due to rising demand that
caters to automotive paint needs in the tropical climate. Shift in consumer
patterns with cost benefits is likely to propel the local market in MEA
regions. The key players in the Paint Protection Film industry include 3M
Company, Lubrizol, SunTek Films, Solar Gard, Topaz, Avery Denison, Argotec,
Premier Protective Films, and XPEL Technologies.
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