Paint Protection Film Market Overview
As per the analysis conducted by Market Research Future (MRFR), the Market for Paint Protection Film is anticipated to acquire a market value of USD 1277.821 Million while expanding at a CAGR of 5.89% by 2030.
Paint Protection Film – Importance
Cars have become one of the most importance means of conveyance for the modern man. People go out of their way to protect this commodity from various elements. This is one of the major factors that has helped in the growth of the global paint protection market.
Market Players Key Strategies
Some of the big names of this market include, ORAFOL, HEXIS S.A. , 3M and Saint Gobain Performance Plastics. These global players generate higher earnings by investing heavily on research and development and also make efforts to device new and innovative products.
A paint protection film is popular by its pseudonyms like clear paint film, PPF, clear bra clear film. It can be explained as a thin layer of film that that serves the purpose of protecting the exterior surface of a car. It is made up of thermoplastic urethane. It has the ability to safeguard the layer of paint from minor scratches, stone chips and bug splatters. Although it is popularly used for auto motives, its use is not just limited to them. This film can also be applied on cell phones, electronics, motorcycles, screens and airplanes.
Paint protection films have proven to be highly useful in maintaining the visual appeal of any vehicle they are used on. They are gaining a lot of recognition as more and more people are becoming aware of its benefits.
Market Summary
The worldwide paint protection film market is estimated to develop at a lightning speed in the coming years. Experts suggest that this industry will earn around USD 1276.9 million during the forecast period of 2018 – 2022. The market is anticipated to tread forward at the CAGR of above 5.63%.
There are many factors to which the growth of this market can be attributed. One of the most important ones is the benefits that this film has to offer. Owing to their protective nature many people have had them installed in their vehicles respectively. This fact is a very huge market growth propeller.
Secondary development drivers include growing customer awareness, upsurge in the usage of cars improved rates of average annual income amongst the masses.
Additional aspects that further boost the growth of the market are higher ratio of internet ratio, improved industrial supply chains, population explosion in the urban areas and higher usage of mobile phones.
The industry may face restraints in the form of higher installation prices. But if all goes well as the market develops this hurdle too shall be overcome.
Market Segmentation
The global Paint Protection Film Market Sale is trifurcated into end users, applications geographies.
On the basis of end users, the market is bifurcated into small industrial or automobile organizations and multinational companies.
On account of applications, the market is segmented into aerospace and defense, automobile, electrical electronics. Out of these, the portion that held the largest market share in 2016 was automobile. It happened due to the increased usage of PPF films to avoid any scratches on the outer surface of paint.
In terms of geography the market is spread across various regions. They include North America, Europe, Asia Pacific, China Rest Of the World. In the coming years the Asia Pacific region is expected to generate the maximum revenue for this market.
Innovations
The worldwide paint protection film market has been consistent in terms of growth. This industry has witnessed a number of innovations in the past years. One of the most recent ones is the introduction of Paint Armor DIY. The special features of this product are that they are water-borne and can offer ecological protective coating to the vehicles or things they are used on. Additional benefits of this product include, immeasurable thickness adjustment, color options removability.
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