In 2019, the global 72" paint protection films market was worth USD 15.3 million. It is projected to grow at a compound annual rate (CAGR of 4.0%) between 2020 and 2027. The forecast period will see a rise in demand for paint protection films in aerospace and defense industries. This is due to the increased use of paint protection film in automotive and defense industries to prolong the life of the paint. Clear paint protection films 72" are also known by clear bra, clear film, PPF, and clear paint film. It is a thermoplastic, urethane film which is applied to painted surfaces. It is used in a variety of industries such as aerospace, electronics, defense, and automotive. These films protect products against scratch agents such as bugs splatters, minor scratches, and road debris and rocks.
Over the forecast period, there will be a rise in awareness of automobile maintenance. This is expected to increase the demand for these products. The automotive and transportation sectors offer huge growth opportunities for the industry at a global level. In contrast to mature countries like North America and Europe, where the industry is expected to grow slowly, the automotive industry in emerging markets has been growing rapidly. The demand for 72-inch paint protection films is expected to rise due to the rising market in Asia, including China, Japan, and Thailand.
The recent COVID-19 epidemic has had a significant impact on raw material prices. It caused supply chain disruptions and work stoppages as well as production shortages. This was due to the preventative measures taken by government authorities to control the spread of the disease. This will likely limit market growth in some way. Consumers will be attracted to technological advancements such as clear coat technology and self-healing technology to provide a strong and reliable layer of protection against damage from insects, road debris, rocks and other hazards.
It is also low in maintenance and has a long lifespan, making it an attractive product. This will drive demand for the product over the forecast period. Manufacturers and distributors have been able to sell their products online due to the rise of e-commerce platforms.
In 2019, the automotive & transport segment held 72% of the market share. This segment is expected to grow at a substantial CAGR due to increasing resale values of luxury cars in emerging economies like India and China. This product is becoming more popular as a cost-effective option for vehicle paint protection against damage caused by acid rain and rock chips, insect splatter, and other factors. The market is expected to grow due to the increased penetration of paint protection films in premium vehicles to extend the paint's lifespan.
Furthermore, the increasing demand for paint protection film is due to rising consumer purchasing power and technological advancements in these gadgets.
With a 35.7% share in 2019, Asia Pacific was the dominant market. The rising demand for products from key industries such as aerospace, electronics, and defense will drive further growth in the region.
Asia Pacific is a major manufacturing region for electronic components, vehicles, and ships. Protective films are increasingly needed in these areas due to rising demand for durable electronics and high-performance road and maritime vehicles. Paint protection films have a better performance than other coating options, which is why product penetration in this region has increased significantly.
The spread of COVID-19, including in China, Australia, Thailand and Japan, has prompted a lockdown in major cities. This is likely to limit market growth over the next few years.
North America is expected to be the second-fastest growing region during the forecast period. Market growth will be boosted by the strong manufacturing base in the U.S., and the rapid growth in the Mexican automotive industry. The region's growing aerospace and defense industry is expected to increase product demand.
Globally, the market is well-consolidated. There are very few major players and a handful of small and medium-sized companies that operate around the globe. These key players are in fierce competition with each other as well as regional manufacturers, who have strong distribution networks and know-how about suppliers and regulations. These are some of the most prominent companies in this sector:
3M
Eastman Chemical Company
Schweitzer-Mauduit International, Inc.
Avery Dennison
XPEL Inc.
RENOLIT SE
Saint-Gobain S.A.
Up Market Research published a new report titled “72†Paint Protection Film Market research report which is segmented by Application (Automotive & Transportation, Aerospace & Defense), By Players/Companies 3M, Inc and others, Schweitzer-Mauduit International, Eastman Chemical Company”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | 72†Paint Protection Film Market Research Report |
By Application | Automotive & Transportation, Aerospace & Defense |
By Companies | 3M, Inc and others, Schweitzer-Mauduit International, Eastman Chemical Company |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 230 |
Number of Tables & Figures | 161 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Automotive & Transportation, Aerospace & Defense).
72†Paint Protection Film Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the 72†Paint Protection Film Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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