Paint Protection Films Market Size

Paint Protection Films Market Size

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.

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.