The global paint protection film market size is projected to
reach USD 484.7 million by 2027, according to a new report by Grand View
Research, Inc. It is projected to register a CAGR of 6.9% over 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 film (PPF).
paint protection films market is moderately
fragmented in nature and is moving towards consolidation. Abundant availability
of raw materials 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 provide 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 challenge for market players. However, rapid
growth of other application sectors including electrical and electronics and
aerospace is likely to open new avenues for them.
For full research report on Paint
Protection Film Market visit here: https://www.grandviewresearch.com/industry-analysis/paint-protection-film-market
Further key
findings from the report suggest:
- In 2019, the automotive and transportation
segment dominated the paint protection film market 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
- In terms of value, the aerospace and defense
segment is estimated to register a CAGR of over 12.0% over the forecast
period. This is attributed to increasing investments in the aircraft and
defense sectors in China, U.S., and India
- Asia Pacific dominated the market with USD
109.5 million in 2019 since it is the largest producer and consumer of
automotive as well as electrical and electronic products
- Key players operating in the 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 competition.
Get request sample of
this report here:
https://www.grandviewresearch.com/industry-analysis/paint-protection-film-market/request/rs1
Grand
View Research has segmented the global paint protection film market on the
basis of application and region:
Paint
Protection Film Application Outlook (Volume, Thousand Sq. Meters; Revenue, USD
Million, 2016 - 2027)
- Automotive &
Transportation
- Electrical &
Electronics
- Aerospace &
Defense
- Others
Paint
Protection Film Regional Outlook (Volume, Thousand Sq. Meters; Revenue, USD
Million, 2016 - 2027)
- North America
- U.S.
- Europe
- Germany
- U.K.
- France
- 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.
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