The global paint protection film market size is projected to
reach USD 449.37 Million by 2025, according to a new report by Grand View
Research, Inc. It is projected to expand at a CAGR of 6.7% during the forecast
period. Rising consumer awareness regarding vehicle paint protection against
bug splatters, stone chipping, and abrasions is anticipated to fuel the demand
for Paint Protection Films (PPF).
The market is moderately fragmented in
nature and is moving towards consolidation. Abundant availability of raw
material and presence of several major players with adequate production
capacities have resulted in an increased competition among the players. Product
durability, price, and environment friendliness are estimated to be the key
factors influencing buyer decision.
The product is widely available on
retail as well as online platforms. However, its installation requires
expertise and specially trained personnel for optimum results. Hence, a
majority of players also engage in after purchase services. Furthermore, a few
players have established contracts with local installers to strengthen their
geographical presence.
Frequent variations in raw material
pricing and declining automotive production in major economies including U.S.,
Japan, and Korea are expected to act as a stumbling stone for the market
players. However, rapid growth of other application sectors including
electrical and electronics and aerospace is likely to open new avenues for
them.
Browse full research report on Paint Protection Film Market: https://www.grandviewresearch.com/industry-analysis/paint-protection-film-market
Further key findings from the report suggest:
- In
2018, automotive industry emerged as the largest application segment in
terms of volume, wherein a majority of the demand is derived from the
passenger cars segment owing to the superior color protection properties
of PPF
- Aerospace
application is poised to register a CAGR of over 10.0% over the forecast
period, owing to increasing investments in the aircraft and defense
sectors in China, U.S., and India
- Asia
Pacific represented the largest market share with USD 100.48 million in
2018. The growth can be attributed to the fact that it is the largest
producers and consumers of automotive and electrical and electronic
industry
- Key
players operating in the paint protection film market are 3M Company;
Eastman Chemical Company; KDX Composite Material; XPEL, Inc.; and Avery
Dennison Corporation
- Mergers,
integrations, tie-ups with third-party installers, innovative
manufacturing techniques, and wide distribution channel are projected to
be the key success factors for manufacturers to sustain fierce
competition.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/paint-protection-film-market/request/rs1
Grand View Research has segmented the global paint protection film
market report on the basis of application and region:
Paint Protection Film Application Outlook (Volume, Thousand Sq.
Meters; Revenue, USD Million, 2014 - 2025)
- Automotive
& Transportation
- Electrical
& Electronics
- Aerospace
& Defense
- Others
Paint Protection Film Regional Outlook (Volume, Thousand Sq.
Meters; Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- France
- U.K.
- Asia
Pacific
- China
- India
- Japan
- Australia
- South
Korea
- Indonesia
- Thailand
- Malaysia
- Central
& South America
- Middle
East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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