Global Paint Protection Films Market - 2022-2029

Global Paint Protection Films Market - 2022-2029

Market Overview

The global paint protection films market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

A thin layer constructed of a thermoplastic urethane substance is classified as paint protection film. The films protect the painted surfaces of electronic items, automobiles and airplanes from scratch agents like mild abrasives, bug splatters and stone chips. They aid in the preservation of a vehicle's brand new appearance. The clear film, PPF and paint film are used to describe them. The films are primarily used to prevent rock chips and other particles from damaging the painted surfaces of automobiles and other transportation equipment.

The films are widely employed in various industries, including electrical and electronics, automotive, aerospace and defense. Paint protection films are a form of automobile protective layer that involves the application of a clear polymer film to a vehicle's outside surface. Paint protection films have long been utilized in passenger cars by end-users worldwide. Paint protection films increase the longevity of the paint and coating base by protecting it from extreme climatic conditions that can cause color fading or car body corrosion.

Furthermore, technological advancements that provide sustainable products with little environmental impact are expected to drive demand during the projection period. One of the key drivers determining the demand for paint protection films is expected to be product variation in terms of performance and quality to withstand stains, abrasions and scratches (PPFs).

Market Dynamics

The product's expanding application scope and the development of high-performance films are projected to drive up demand in the coming years. Furthermore, technological advancements that provide sustainable products with minimum environmental impact are expected to drive demand during the projection period.

End users' increasing desire for motor vehicles and their protection

Consumers are becoming more alert to applying paint protection films to protect painted surfaces from stone chips, bug splatters and small abrasions, which is expected to boost market demand. The coating protects the car's paint from scratches, dents and other damage caused by road debris, pebbles and other environmental causes. Furthermore, utilizing PPF preserves the vehicle's showroom grade finish, keeps it appearing younger for longer by shielding weak areas and increases its resale value. It encourages customers, resulting in increased demand for paint protection films.

Furthermore, the industry has been experiencing product developments integrating optimal compositions to provide better performance characteristics and aesthetics, owing to the growing demand for paint protection films. Commercial vehicles and off-road equipment will provide opportunities for paint protection films in the coming years.

Technological advancements in paint protection films

Technological advancements to provide sustainable products with little environmental impact are expected to drive demand in the future. One of the key drivers determining the demand for paint protection films is expected to be product variation in terms of performance and quality to withstand stains, abrasions and scratches. Furthermore, the market is likely to be driven by the introduction of novel technologies to make long-lasting films more resistant to severe weather conditions over the forecast period.

Consumer attention is expected to be drawn to film technological developments, such as color variations and greater adhesiveness. Automotive and transportation films accounted for a large portion of the paint protection films market, accounting for most demand.

High installation costs

The high costs of film installation are projected to stifle the market's growth. Paint protection film manufacturers and other value chain participants such as installers and service providers in the global paint protection films market are concentrating on developing cost-effective installation technologies.

COVID-19 Impact Analysis

The industry is also suffering difficulties due to the current COVID-19 outbreak, which has resulted in a slowdown in raw material trade around the world. The supply chain and customers ’ needs were disrupted due to government instructions, strict lockdown implementation and other pandemic-prevention practices. The market is believed to get its primary demand from the overall operation of the automobile sector and demand for electronic goods, both severely impacted and whose production was halted during the lockdown.

The automotive industry has been severely impacted due to international closures and halts in industrial activity. It has had an impact on the global manufacturing of paint protection films. As a result, prices have risen and volumes have declined. Consumer attention is expected to be drawn to film technological developments, such as color variations and greater adhesiveness. On the other hand, consumer demand is upbeat and likely to boost the industry's growth in the future years.

Segment Analysis

By end-user, the paint protection films market is classified into electronics, automotive, construction and others.

The rising demand for four-wheelers

Rapid industrialization and increased need for mobility have stoked demand for commercial and passenger vehicles, resulting in market expansion. In addition, the segment's growth is expected to be aided by raising awareness of vehicle maintenance shortly. Due to increased demand for four-wheelers in emerging nations such as India, China and Japan, the automotive sector would produce high demand for paint protection films.

The increase can be ascribed to more caution in keeping vehicle showroom finishes, boosting resale value and minimizing the impact of the global automotive industry slowdown on luxury car sales. Furthermore, important regions such as Asia-Pacific and North America will likely see increased car sales in the upcoming years. Regional and global players are exploring potential regions such as India as their strategic expansion plans.

Geographical Analysis

An increase in luxury automobile sales in Asia-Pacific

Regarding geography, Asia-Pacific market for paint protection films is expected to be the largest and fastest-growing during the projected period, owing to an increase in luxury automobile sales. China is the world's largest manufacturer and consumer of thermoplastic polyurethane, the primary basic material used to make paint protection films.

The existence of substantial automobile production and consumption in the region is credited with this increase. Increasing transportation operations, low labor costs, easy access to raw materials and high demand have enticed vehicle manufacturers to establish new facilities, stimulating product demand.

Competitive Landscape

The market is competitive because of the huge number and variety of products offered by various local and multinational competitors. Mergers, acquisitions and strategic partnerships are three of the most common strategies competitors employ to reduce overall product costs and remain competitive. Many industry participants form relationships with third-party installers and suppliers to ensure a constant supply of raw materials and simple installation services.

The ""Official Paint Protection Film"" of Spring Mountain Motor Resort & Country Club and the Ron Fellows Performance Driving School was announced by XPEL Inc, a U.S.-based player, in December 2020.

Garware Polyester and India's top polyester filmmaker developed a Paint Protection Film (PPF) for vehicles and SUVs in October 2019. The product is transparent and self-healing to provide maximum safety and impact resistance. The PPF is made from premium polyurethane thermoplastic film (TPU), providing long-term durability and consistency.

Major players operating in the global market for Paint Protection Films include XPEL, Inc., Avery Dennison Corporation, Eastman Chemical Company, Hexis S.A., ORAFOL Europe GmbH, Saint-Gobain Performance Plastics Corporation, Alpha Packaging, Inc, Holosafe Paint Protection Films, Premiumshield Limited and Prestige Film Technologies.

Eastman Chemical Company

Overview: Eastman is a global specialty materials firm producing a wide range of goods used in everyday objects. It was founded in 1920. Eastman works closely with customers to deliver new products and solutions that tangibly improve the quality of life while retaining a commitment to safety and sustainability.

Its innovation-driven growth plan leverages world-class technology platforms, strong client engagement and innovative application development to grow its leadership positions in attractive end-markets such as transportation, building & construction and consumables. Eastman employs roughly 14,500 people worldwide and serves clients in over 100 countries globally inclusive and diverse organizations. The corporation is based in Kingsport, Tennessee and expects to generate US$8.5 billion in revenue in 2020.

Product Portfolio: The company offers paint protection films, which are a 6-8 mil thick elastic and transparent urethane film with a pressure-sensitive mounting adhesive and a clear release liner intended for use as a removable and sacrificial surface protectant against sand, gravel, road debris, insects and other contaminants.

Key Development: Eastman Performance Films, LLC's auto paint protection product, LLumar Valor, makes waves in the automotive sector for National Car Care Month. The introduction of the LLumar Valor paints protection film provides car owners with greater peace of mind when safeguarding their vehicles and keeping them looking newer for longer.

Valor's improved technology acts as invisible armor, self-healing surface scratches with heat from the sun or engine, providing exceptional protection against pebbles, road debris, winter salt and sand. Valor not only coats and protects your automobile from dirt, dust, insects, pebbles and grime but also enhances its appearance.

Compared to leading brands on the market, Valor's specific technology makes it easy to clean and offers up to 25% greater stain and environmental resistance. Valor combines paint protection and ceramic coating benefits into one lasting product using Eastman TetrashieldTM technology, giving vehicle owners the best of both worlds. With a 12-year warranty, Valor's smooth appearance and superb gloss give any vehicle an eye-catching fresh off-the-lot appeal.

Why Purchase the Report?
• Visualize the composition of the paint protection films segmentation by material, end-user and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in paint protection films by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of paint protection films - level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global paint protection films report would provide access to an approx. 52 market data tables, 43 figures and 203 pages.

Target Audience
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers