The global Paint Protection Film Market is forecast to reach USD 496.34 Million by 2030, according to a new report by Reports and Data. Paint safety film is a thermoplastic coating that cures when added to painted surfaces. The product is commonly used in the automotive industry to cover certain parts that are more vulnerable to abrasion or harm. Paint safety film is used in various parts of the vehicle, such as a door panel, bonnet, front bumper, rear bumper, side panel, side skirt, etc. The product prevents the car from soil, wax, mud, bugs, etc. induced by surface stains. It also gives a long period to maintain the vehicle surface to finish flawless. In effect, increasing demand for lightweight automobiles and hybrid cars will boost the market for color safety films in the coming years. Improvement in the electronic industry would increase the growth in the market size of paint safety film due to its usage in different electronic equipment such as mobile phones, LED displays, household appliances, etc. As a consequence, growing development in the consumer electronics business will render the Asia Pacific an essential region in the coming years.
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Top Leading Players: Zhejiang Shichuang Optics Film Manufacturing Co. Ltd., Avery Dennison Corporation, Eastman Chemical Company, 3M, CCL Industries, Reflek Technologies Corp., Xpel Inc., Hexis S.A., Saint-Gobain, and STEK USA, among others.
Further key findings from the report suggest:
- Based on the material, polyvinyl chloride generated a revenue of USD 31.8 million in 2019 and predicted to rise with a CAGR of 6.0% in the forecast period due to its wide variety of applications owing to excellent properties such as lightweight, abrasion resistance, better mechanical strength, low cost.
- The matte finish expected to grow with a CAGR of 6.1% in the forecasted period, as they are much more prone to damage than the glossy ones and are more costly. Thus, matte finish paint safety films are more appropriate to be used instead of other sections for coating the entire vehicle.
- The automotive & transportation industry is the major contributor to the Paint Protection Film Market. The automotive & transportation sectors of the Asia Pacific region are the major shareholder of the market and held around 70.2% of the market in the year 2019, owing to the rapid industrialization, combined with growing transportation requirements, culminated in expanded demand for passenger and commercial cars.
- The Asia Pacific dominated the market for Paint Protection Film in 2019. The region's consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The Asia Pacific region held approximately 37.3% of the market, followed by North America, which contains around 24.9% market in the year 2019
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Paint Protection Film market is segmented into:
Material Type Insights (Revenue, USD Billion, Volume; 2019-2030)
- Thermoplastic Polyurethane
- Polyvinyl Chloride
Application Insights (Revenue, USD Billion, Volume; 2019-2030)
- Automotive & Transportation
- Electrical & Electronics
- Aerospace & Defense
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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