Paint Protection Films Market Size, By Material (Thermoplastic Polyurethane, Polyvinyl Chloride), By Finish (Gloss, Matte), By Application (Automotive, Electronics & Communication, Building & Construction, Aerospace & Defence), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Industry Overview

Paint Protection Films Market size was estimated to be valued at around USD 440 million in 2020 and is anticipated to exhibit 5.89% CAGR during the forecast period. Paint protection films are thin, transparent, and rollable sheets made up of polyvinyl chloride, thermoplastic polyurethane, and other materials to protect the paints from mechanical damage, sun damage, and to increase the gloss of paints coated on automobiles, airplanes, buildings, and electronic devices.
 

Building and commercial constructions are expected to propel the consumption of paints in the industry. The Asia Pacific paint protection market is expected to witness a significant rate owing to the growing population, need for housing, and others. Similarly, ongoing construction activities in Europe will further enhance the demand for paints over the projected time frame. The growing demand for paints will parallelly drive the consumption of paint protection films across the regions.
 

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Progress in the electronic market will augment the growth in paint protection film market size due to its usage in various electronic equipment like cell phones, LED screens, household appliances, etc. The consumer electronics market size was around USD 330 billion in 2018 and is likely to grow at a growth rate of more than 7%. Out of this, Asia Pacific alone accounted for more than 50% of the market. Hence, rising trend in the consumer electronics industry would make Asia Pacific a significant market in the coming years.
 

The COVID-19 outbreak has temporarily hampered the industry expansion

The industry is also facing challenges owing to the current COVID-19 outbreak, which has led to the reduction in trade of raw materials across the globe. This has impacted the production of paint protection films across the world. This, in turn, has increased the prices and decreased volumes. However, the demand from consumer-end is optimistic and is expected to elevate the industry's development over the coming years.
 

Thermoplastic polyurethane material type of paint protection films will dominate the industry

The thermoplastic polyurethane material type segment will generate over USD 475 million by 2027. The high transparency offered by the thermoplastic polyurethane material type as compared to the PVC material type is the major growth enabling factor of the market. Thermoplastic polyurethane material type will be dominating the industry over the estimation period as this material type offers greater flexibility along with cost-effectiveness.
 

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Automotive to witness a significant consumption for paint protection films

The automotive sector will generate a demand for over 16 thousand square meter in paint protection films market by 2027 due to the rising demand for four-wheelers in emerging economies such as India, China, and Japan. Additionally, major regions, such as Asia Pacific and North America, are expected to witness higher sales for cars in the coming years. Regional and global players have strategic expansion plans to explore potential regions such as India. This will further boost the demand for automobiles, leading to increased consumption for paint protection films in the Asia Pacific region.

Aerospace & defense will witness over 4% CAGR due to extensive usage of the product to protect the aircraft surfaces. It helps to protect from dirt, high impact abrasion and scratches on gloss made parts. The product is applied for both interiors and exteriors of the aircrafts. Increasing aircraft production to meet previous backlog will drive the segment penetration.
 

Gloss finish paint protection films are expected to witness high demand

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The glass segment will generate over USD 500 million by 2027 due to its higher applications in automotive, electronics & communications, and aerospace & defense. The gloss finish is highly glossy and lightweight, adding an advantage to the aerospace & defense sector with low fuel consumption. Also, being very transparent than matte and other types, the gloss finish attracts the electronics & communication segment. The aforementioned factors are expected to boost the market for the gloss segment over the forecast period.
 

Asia Pacific will be the leading consumer of paint protection films

Asia Pacific will hold over 50% share in the paint protection films market throughout the assessment period. The growing product demand from building constructors across China, India, Japan, etc., is likely to drive the product demand in the region. Further, the growing usage of paint protection films in automotive and construction sectors is likely to be the key factor for the industry growth in the coming years. North America and Europe will also have considerable growth over the predicted timeline.
 

Strategic initiatives to reinforce the industry foothold of manufacturers

Industry participants are actively adopting several strategic initiatives to gain a competitive edge over other players. The strategies may include mergers, acquisitions, product launches, and production capacity expansion, among others. Such trends are likely to garner growth opportunities for the paint protection films market in the coming years.
 

Some of the manufacturers of the paint protection films industry include 3M, Eastman Performance Films, Helix S.A., XPEL, Inc., Premium Shield Limited, Reflek Technologies Corporation, FERREXPO, ORAFOL EUROPE GmbH, Opticshield, Schweitzer-Maudit International, Avery Dennison Corporation, Renolit, KDX Composite Material, and SWM, Inc.
 

The paint protection films market report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in square meters and revenue in USD Million from 2017 to 2027 for the following segments:

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By Material

• Thermoplastic Polyurethane (TPU)
• Polyvinyl chloride (PVC)
• Others

By Finish

• Glass
• Matte
• Others

By Application

• Automotive
• Electronics & communication
• Buildings & construction
• Aerospace & defense
• Others

The above information is provided on a regional and country basis for the following:

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Spain
  • Italy
  • UK
  • France
  • Ukraine
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Rest of Middle East & Africa