According to a new research report by Global Market Insights Inc., the Paint Protection Films Market size to exceed USD 650 million by 2027 owing to the rising preferences for a grim look and protection for automotive and building & construction.
Thermoplastic polyurethane is the fastest-growing material type owing to its relatively low cost and major use as a protection film. Currently, the gloss type of finish is widely applied across the consumers' ends, leading to a significant segment growth rate during the forecast period.
Furthermore, the electronics & communication segment boost has led to the decent demand for paint protection films globally. Growing population, urbanization, and disposable income are the key factors driving the growth of four-wheelers across the world. Building and commercial construction sectors are boosting the usage of paint protection films. Moreover, aerospace and defense industries, which are also major consumers of paint protection films, are witnessing a severe decline in their performance owing to the COVID-19 pandemic travel bans.
Browse key industry insights spread across 450 pages with 822 market data tables & 31 figures & charts from the report, “Paint Protection Film Market Size, By Material (TPU-Thermoplastic Polyurethane, PVC-Polyvinyl Chloride, Others), By Finish (Gloss, Matte, Others), By Application (Automotive, Electronics & Communication, Buildings & Construction, Aerospace & Defense, Others), Industry Analysis Report, Regional Outlook, Application Growth PotentialCompetitive Landscape & Forecast, 2021 – 2027” in detail along with the table of contents:
Thermoplastic polyurethane to be a major material type
Thermoplastic polyurethane, polyvinyl chloride, and others are the material types of paint protection films industry. Thermoplastic polyurethane volume has showcased high growth while reflecting 6% CAGR during the assessment timeframe. This is attributed to favorable pricing, demand from consumer-end, and application. The manufacturers are more inclined toward thermoplastic polyurethane as this material type is majorly used to obtain gloss finish, which one of the most preferred finish types across the globe.
Gloss to be the most demanded finish type
The gloss finish type of segment is estimated to hold around 80% volume share in the paint protection film market and will emerge as one of the highest performing markets for paint protection films. gloss finish, being much transparent than matte finish type, offers a superior look along with achieving low weight, which is likely to drive its demand in the aerospace & defense sector over the coming years. Moreover, the growing demand for electronics & communication, which requires a gloss finish for most of the painted products, will drive the gloss finish type demand over the forecast timeline.
Asia-Pacific to register higher growth rate over the coming years
Asia Pacific will hold over 50% revenue share in the paint protection films market by 2027 owing to growing cars sales along with investments from the automotive manufacturers in the region. The entry of new participants in electronics & communication in the region is further expected to escalate product sales across the region.
Key industry participants of the paint protection film industry are 3M, Eastman Performance Films, XPEL, Hexis and Premium Shield Limited, among others