Paint Protection Film Market Size, Industry Analysis Report, Regional Outlook, Growth Statistics, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3865
Paint Protection Film Market size is likely to portray a significant growth in the coming years due to developments in the automotive industry. Paint protection film is a thermoplastic material which when applied on painted surfaces heals automatically. The product is extensively used in automotive industry to protect the parts which are more susceptible to abrasion or damage. Paint protection film is used in various parts of the vehicle like bonnet, door panel, rear bumper, front bumper, side skirt, side panel, etc. The product protects the vehicle from stain caused by surface from dirt, oil, tar, bugs, etc. It also enables to maintain the vehicle surface finish flawless for a long time. Rising demand for lightweight vehicles and electrical cars would in turn propel the paint protection film market in the coming years.
Progress in the electronic market will augment the growth in the 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.
By finish, paint protection film market is segmented into matte finish and gloss finish. Gloss finish segment is likely to have a significant market share owing to its easy maintenance than matte finish. Although both matte and gloss finish have self-healing feature, but maintenance process of gloss finish for an individual would be much easier than the other. All matte finished surfaces are not same and hence, it may not match the amount of sheen and texture of the matte paint of the vehicle. Matte shaded surfaces are more prone to damage and are more expensive than the glossy ones. So, matte finish paint protection films are more suitable to be used for covering the whole car instead of certain parts.
Based on application, the paint protection film market size is further categorized into automotive & transportation, electronics, aerospace & defense, marine, and others which include energy, etc. Aerospace & defense segment is likely to grow at a rising CAGR in the coming years due to extensive usage of the product to protect the aircraft surfaces. It helps to protect from dirt, high impact abrasion and scratches on glass made parts. The product is applied for both interiors and exteriors of the aircrafts. The active global commercial fleet was estimated to be around 26,000 aircrafts in 2018 which is likely to increase to about 37,000 in the next ten years. This will in turn increase the market demand.
North America is a significant region in the paint protection film market size owing to presence of large number of product manufacturers. Rising aircraft and automotive production in the region would be another growth enabler in the market. U.S. alone has more than 3,600 military aircrafts which would further increase in the coming years due to its rising defense expenditure. Asia Pacific is another significant region with a growing CAGR due to its proliferating electronics industry. As the product is widely used in the electronics industry to preserve the surface of electronic appliances, increasing production in this industry will lead to rising demand in the paint protection film market in the coming years.
Some of the key players of the market are Saint-Gobain, Eastman Chemical Company, Xpel Inc., 3M Company, Reflek Technologies Corp., Avery Dennison Corporation, Hexis S.A., STEK USA, CCL Industries, Zhejiang Shichuang Optics Film Manufacturing Co., Ltd, etc.
Paint Protection Film Market, By Finish, 2014-2025 (USD Million)
- Matte finish
- Gloss finish
Paint Protection Film Market, By Application, 2014-2025 (USD Million)
- Automotive & transportation
- Aerospace & defense
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Eastman Chemical Company
- Xpel Inc.
- 3M Company
- Reflek Technologies Corp.
- Avery Dennison Corporation
- Hexis S.A.
- STEK USA
- CCL Industries
- Zhejiang Shichuang Optics Film Manufacturing Co., Ltd, etc.
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