Asia-Pacific is Expected to Grow during the Forecast Period due to Rising Automobile demand in the Region

The paint protection films are polymeric films with an adhesive end that can be adhered to surfaces to protect them against environmental factors such as heat, UV radiation, corrosion, scratches, dust, and stains. Many diverse end-user industries, including automotive, aerospace, oil and gas, electrical and electronics, and others, primarily employ paint protection films.           

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The Global Paint Protection Film Market was valued at USD 280.18 million in 2021 and is expected to reach USD 503.43 million by 2029, registering a CAGR of 7.60% during the forecast period of 2022-2029. A thriving market has resulted from the increasing need for paint protection film and the corresponding spending by end users of motor vehicles, which has pushed its use in manufacturing, maintenance, and repair. Additionally, the market has seen a series of product developments that incorporate ideal formulations to provide longer-term performance characteristics and aesthetics.

Growing customer awareness regarding vehicle protection across the world will drive the market's growth rate

Market demand is anticipated to increase as consumers become more aware of the advantages of employing paint protection films to shield painted surfaces from stone chips, insect splatters, and minor abrasions. The layer shields the paint from dents, scratches, and other damage brought on by pebbles, road debris, and other environmental factors. By protecting weak areas, PPF also maintains the vehicle's showroom-quality finish, prolongs its appearance of youth, and raises its resale value. This attracts clients, which increases the demand for paint protection films.  

Report Scope and Market Segmentation

Segment Analysis:

Global paint protection film market is segmented into six notable segments based on the brand, material, system, finish, application and end-user.

• On the basis of brand, the global paint protection film market is segmented into clear bra, clear mask, invisible shield, rock chip protection, clear wrap, car scratch protection film and others. In 2022, clear bra segment is expected to dominate the global paint protection film market, growing with the highest CAGR of 7.1%

In 2021, clear bra segment is expected to dominate the global paint protection film market

In 2021, clear bra segment is expected to dominate the global paint protection film market, growing with the highest CAGR of 7.1% in the forecast period. The clear bra segment is the dominating segment because of extensive protection of clear bra which offers crystal clear clarity and superior durability along with its high demand across automotive and aerospace and defense industries globally. Moreover, due to extensive scratch and temperature protection as clear bra offers, considering the extensive traffic and hot-humid climatic condition coupled with the extensive protection and premium look it offers to the vehicles, further boosts the market demand globally.

• On the basis of material, the paint protection film market is segmented into polyurethane, vinyl and polyvinyl chloride and others. In 2022, polyurethane segment is expected to dominate the global paint protection film market, growing with the highest CAGR of 6.3% in the forecast period.   The polyurethane protection film segment is the most preferred one because of the superior resistances to varied factors, the ultra-clear appearance of the coating and the recyclability of polyurethane the high population density of the area that requires recyclable materials due to the tenancy of the market to generate a huge amount of landfill wastes and lack of space for the deposition of these landfill wastes.
• On the basis of system, the paint protection film market is segmented into solvent-based systems and water-based systems. In 2022, solvent-based systems segment is expected to dominate the global paint protection film market, growing with the highest CAGR of 6.3% in the forecast period. The solvent-based systems segment dominates the global paint protection film market because of the superior adhesion of such films and their ability to repel rust coupled with the extensive ability of such film systems to prevent rust due to atmospheric moisture and snow from pieces of equipment used in automotive and aerospace markets which are two of the top end-users of paint protection films globally.
• On the basis of finish, the global paint protection film market is segmented into matt finish, gloss finish and others. In 2022, gloss finish segment is expected to dominate the global paint protection film market, growing with the highest CAGR of 6.2% in the forecast period. The gloss finish segment dominates the paint protection film market globally because of the enhanced luster and shine it offers to paints, resulting in the extensive popularity of gloss finish among auto-enthusiasts. Moreover, its extensive use in car manufacturing coupled with the preference of the finish for premium car manufacturers and the popularity of such finishes among the consumers also boost market demand globally.
• On the basis of application, the global paint protection film market is segmented into full hood, leading hood edge, bumpers, fender panels, painted side mirrors, door handle cavities, door edges, rocker panels, trunk ledge and others. In 2022, full hood segment is expected to dominate the global paint protection film market, growing with the highest CAGR of 8.8%

The full hood segment is expected to dominate the global paint protection film market

In 2021, the full hood segment is expected to dominate the global paint protection film market, growing with the highest CAGR of 8.8%. The full hood segment dominates the paint protection film market globally because of extensive exposure of the hood to various adversities and ease at which the hood could be damaged coupled with the increased number of properly maintained roads and extreme road terrain variations globally. Moreover, the high traffic congestion and high chances of damaging the car due to such congestion and the extreme terrain and weather conditions also boosts market demand globally.

• On the basis of end-user, the global paint protection film market is segmented into automotive, aerospace and defense, electrical and electronics, oil and gas and others. In 2021, the automotive segment is expected to dominate the global paint protection film market, growing with the highest CAGR of 6.6%. The automotive segment market dominates the paint protection film market globally with the highest market share because paint protection films are highly used in the automotive industry in order to enhance as well as maintaining the finish of the vehicles along with this, new technologies based paint protection films are launched by the manufacturers for high protection of the vehicles.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in market: 3M (U.S.), XPEL, Inc. (U.S.), Dow (U.S.), Eastman Chemical Company (U.S.), Hexis S.A.S (France),PremiumShield (U.S.) STEK-USA (U.S.), Reflek Technologies Corporation (U.S.), GRAFITYP (Belgium), ORAFOL Europe GmbH (Germany), DuPont (U.S.), DAIKIN (Japan)Optic Shield (Czechia), Solvay (Belgium), SCHWEITZER-MAUDUIT INTERNATIONAL, INC. (U.S.), Saint-Gobain (France) and Avery Dennison Corporation (U.S.).

Market Development

• In 2020, XPEL, Inc. announced the expansion of its Fusion Plus Ceramic Coating lineup into the hydrophobic protection segment., following the success of its Fusion Plus line of products in PPF to improve sales and achieve goodwill among vehicle owners and installers.
• In 2019, Avery Dennison Corporation expanded its portfolio with new Supreme WrappingTM Film colours, Supreme Protection Film XI (SPF-XI) film, and a wide range of vehicle window films. This new addition provides cost-effective options for protecting vehicles and other areas from external paint damage caused by stone chips, road debris, and other road incidents.
• In 2019, Eastman Chemical Company introduced a new high-impact resistant film under the brand names LLumar and SunTek, expanding its paint protection film portfolio through its subsidiary, Eastman Performance Films, LLC. This new product is approximately 50% thicker than LLumar and SunTek conventional PPF and provides enhanced protection for hard impact regions. This product will be available in the United States and Canada by late spring 2019.

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in paint protection film market during the forecast period 2022 to 2029

Given the increasing demand for these films in the automobile market, North America dominated the paint protection films market. North America will continue to dominate the paint protection films market in terms of market share and revenue during the forecast period, and this dominance will grow. This is due to the high concentration of automotive manufacturers in this region, particularly luxury car manufacturers.

Asia-Pacific is estimated to be the fastest-growing region in paint protection film market the forecast period 2022 to 2029

Asia-Pacific is expected to grow during the forecast period due to rising automobile demand in the region. Furthermore, rising international food chain growth and rising per-capita income are expected to drive the market's growth rate in this region.

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