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Paint Protection Film Market by End-user and Geography - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 120
  • SKU: IRTNTR43220
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Paint Protection Film Market is projected to grow by USD 103.46 million with a CAGR of 1.97%, during the forecast period 2021 to 2026.

This paint protection film market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers paint protection film market segmentations by end-user (automobile, aerospace and defense, electrical and electronics, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The paint protection film market report also offers information on several market vendors, including 3M Co., Avery Dennison Corp., Bluegrass Protective Films LLC, Compagnie de Saint Gobain, DuPont de Nemours Inc, Eastman Chemical Co., GARWARE HI TECH FILMS Ltd., Global Paint Protection Films Inc., Hexis S.A., Madico Inc., Polor Pro, POYA TECH CO. LTD., PremiumShield Ltd., The Lubrizol Corp., Top Color Film Ltd., XPEL Inc., Zhejiang Joyvie New Materials Co. Ltd., and Zhejiang Shichuang Optics Film Manufacturing Co. Ltd. among others.

What will the Paint Protection Film Market Size be During the Forecast Period?

Paint Protection Film Market Size

Download Report Sample to Unlock the Paint Protection Film Market Size for the Forecast Period and Other Important Statistics

 

Paint Protection Film Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The expansion of the consumer electronics industry is notably driving the paint protection film market growth, although factors such as slower adoption rate of emerging applications may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the paint protection film industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Paint Protection Film Market Driver

The expansion of the consumer electronics industry is notably driving the paint protection film market growth. PPFs have been widely used by the consumer electronics industry for a long time. It offers scratch and heat resistance to a range of applications such as cell phones, LED, document handling systems, displays and projectors, wearable electronic devices, gasket optics and lighting, rollers, and others. The demand for consumer electronics is being driven by the increasing urban population, the rise in disposable income, a strong supply chain, and increasing internet penetration worldwide. The increasing demand for consumer electronics has given rise to the demand for PPFs. APAC is the major producer and consumer market for PPFs used in consumer electronics goods. The market value of electronics products and systems in India has grown its domestic electronics production from US$ 29 billion in 2014-15 to US$ 67 billion in 2020-21. Also, governments of many developing countries are slashing tax rates for electronics manufacturers. For instance, the Department of Electronics and information technology (DeitY) of India has taken some steps to boost the manufacturing of specific products. Therefore, the increasing demand for PPFs used in the manufacturing of electronic components is expected to drive the growth of the global PPF market during the forecast period.

Key Paint Protection Film Market Trend

Increasing demand for ultraviolet (UV)-curable PPF is the major trend driving the paint protection film market growth. Over the past few years, the demand for UV curable resins has increased due to the growing acceptance of environmentally friendly curable products. The properties such as low emission, high production speed, high productivity, line-on-sight cure, and eliminate mixing errors of UV-curable resins have resulted in the adoption of UV-curable PPF. UV-curable PPF exhibits high performance and offers quicker assembly line benefits. The focus on R and D to develop UV-curable PPF that offers scratch resistance is increasing the growth rate of the global automotive films market. Vendors are set to launch UV-cure PPF that is effective in reducing the fading time in paints. Currently, UV-cure automotive OEM films currently account for less than 3% of the global PPF market. The revenue share is projected to increase during the forecast period owing to the increasing number of automotive OEMs adopting UV-curable PPF technology. Hence, the automotive OEM UV-curable PPF segment is expected to witness a stronger growth rate during the forecast period. Thus, the increasing demand for UV-curable PPF will boost the growth of the global PPF market during the forecast period.

Key Paint Protection Film Market Challenge

The major challenge impeding the paint protection film market growth is the slower adoption rate of emerging applications. Despite the increase in awareness about energy savings worldwide, consumers are ignorant about the benefits of PPFs, in terms of energy efficiency and other superior properties. Currently, PPFs are being used extensively in high-performance automotive and aerospace and defense industries. However, the commercial application of PPF in high-temperature industrial applications is still utilized by a small number of industries. PPFs are utilized by electrical and electronics, marine, and wind turbine industries in various applications. The demand for PPF is mostly limited to applications in automobiles because of the lack of awareness of its other uses by industry players in developing countries, especially. This lack of awareness has led to the slower adoption of PPF in emerging countries. Moreover, the installation cost and the availability of PPF have impacted this slowdown. Thus, such factors may hamper the growth of the global PPF market during the forecast period.

This paint protection film market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global paint protection film market in the automotive industry as a part of the global chemicals market.. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the paint protection film market during the forecast period.^^^

Who are the Major Paint Protection Film Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 3M Co.
  • Avery Dennison Corp.
  • Bluegrass Protective Films LLC
  • Compagnie de Saint Gobain
  • DuPont de Nemours Inc
  • Eastman Chemical Co.
  • GARWARE HI TECH FILMS Ltd.
  • Global Paint Protection Films Inc.
  • Hexis S.A.
  • Madico Inc.
  • Polor Pro
  • POYA TECH CO. LTD. 
  • PremiumShield Ltd.
  • The Lubrizol Corp.
  • Top Color Film Ltd.
  • XPEL Inc.
  • Zhejiang Joyvie New Materials Co. Ltd.
  • Zhejiang Shichuang Optics Film Manufacturing Co. Ltd.

 

This statistical study of the paint protection film market encompasses successful business strategies deployed by the key vendors. The paint protection film market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The paint protection film market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Paint Protection Film Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the paint protection film market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Paint Protection Film Market?

Paint Protection Film Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

40% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the paint protection film market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing automobile demand will facilitate the paint protection film market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 led to a temporary halt in the production and sales of automobiles and related components and accessories. This negatively impacted the export of automotive PPFs from key APAC countries, such as China, India, and Taiwan, in 2020. Also, the shutdown of manufacturing units of electrical and electronics further declined the demand for PPF in the region in 2020. Therefore, the PPF market witnessed a slow growth in APAC in 2020. In addition, the second wave of the pandemic in the majority of the countries in APAC hampered automotive sales and reduced the demand for PPF in the automotive industry in Q1 of 2021. However, the reopening of international boundaries for trade, initiation of large-scale vaccination drives, and reopening of manufacturing units of end-user industries such as automobiles revived the growth of the market in 2021.

What are the Revenue-generating End-user Segments in the Paint Protection Film Market?

Paint Protection Film Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The paint protection film market share growth in the automobile segment will be significant during the forecast period. The increasing rate of lightweight passenger car production will increase the demand for PPF during the forecast period. For instance, the global production of passenger cars increased from 55.83 million units in 2020 to 57.05 million units in 2021.

This report provides an accurate prediction of the contribution of all the segments to the growth of the paint protection film market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Paint Protection Film Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 1.97%

Market growth 2022-2026

$ 103.46 million

Market structure

Fragmented

YoY growth (%)

1.61

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 40%

Key consumer countries

US, China, Japan, India, Germany, and France

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

3M Co., Avery Dennison Corp., Bluegrass Protective Films LLC, Compagnie de Saint Gobain, DuPont de Nemours Inc, Eastman Chemical Co., GARWARE HI TECH FILMS Ltd., Global Paint Protection Films Inc., Hexis S.A., Madico Inc., Polor Pro, POYA TECH CO. LTD., PremiumShield Ltd., The Lubrizol Corp., Top Color Film Ltd., XPEL Inc., Zhejiang Joyvie New Materials Co. Ltd., and Zhejiang Shichuang Optics Film Manufacturing Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Paint Protection Film Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive paint protection film market growth during the next five years
  • Precise estimation of the paint protection film market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the paint protection film industry across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of paint protection film market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Five Forces Summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End user
    • Automobile - Market size and forecast 2019-2024
    • Aerospace and defense - Market size and forecast 2019-2024
    • Electrical and electronics - Market size and forecast 2019-2024
    • Others - Market size and forecast 2019-2024
    • Market opportunity by End user

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • APAC - Market size and forecast 2019-2024
    • North America - Market size and forecast 2019-2024
    • Europe - Market size and forecast 2019-2024
    • South America - Market size and forecast 2019-2024
    • MEA - Market size and forecast 2019-2024
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • 3M Co.
    • Avery Dennison Inc.
    • Compagnie de Saint-Gobain SA
    • DuPont de Nemours Inc.
    • Eastman Chemical Co.
    • Garware PoIyester Ltd.
    • HEXIS SA
    • Madico Inc.
    • The Lubrizol Corp.
    • XPEL Inc.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
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    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
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    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your sample now!
    Paint Protection Film market growth will increase by $104.28 million during 2019-2024.
    The paint protection film market is expected to grow at a CAGR of 1.72% during 2019-2024.
    Technavio has segmented the paint protection film market by end user (Automobile, Aerospace and Defense, Electrical and electronics, and Others) ,distribution channel (Offline and Online) , and geographic (APAC, North America, Europe, and South America).
    3M Co., Avery Dennison Inc., Compagnie de Saint-Gobain SA, DuPont de Nemours Inc., Eastman Chemical Co., Garware PoIyester Ltd., HEXIS SA, Madico Inc., The Lubrizol Corp., XPEL Inc. are a few of the key vendors in the paint protection film market.
    APAC will register the highest growth rate of 44.87% among the other regions. Therefore, the paint protection film market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the paint protection film market growth are:
    • Expansion of consumer electronics industry
    • Advancements in robotic paint booths
    The paint protection film market vendors should focus on grabbing business opportunities from the automobile segment as it accounted for the largest market share in the base year.
    • What are the key global market and the regional market share?
    • What are the revenue-generating key market segments?
    • What are the key factors driving and challenging this market’s growth?
    • Who are the key market vendors and their growth strategies?
    • What are the latest trends influencing the growth of this market?
    • What are the variables influencing the market growth in the primary regions?
    • What are the factors influencing the growth of the parent market?
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