What is a Paint protection film?
Paint protection film is a
thermoplastic urethane often self healing film applied to painted surfaces of a
new or used car in order to protect the paint from stone chips, bug splatters,
and minor abrasions. This film is also used on airplanes, RVs, cell phones,
electronics, screens, motorcycles and many other areas.
The
global PaintProtection Film market is expected to reach USD 369.3 million by 2022.
The market is driven by factors such as growing rate of automobile such as
cars, bikes, and the other high-end vehicles coupled with rise in disposable
income and increase in spending in automotive as well as OEM sector. The paint
protection film market is expected to witness a CAGR of 6.6% in the forthcoming
period.
Economic
stability acts as a booster for Paint Protection Film in a particular
geographical market. Other than automobiles and OEM, paint protection film is
used against abrasion in smartphones, mobile phones, and the other electronic
items. Proliferation of paint protection films for these applications is a
crucial factor for market development in the near future.
Paint
Protection Film is a robust thermoplastic urethane material applied to painted
surfaces to protect the paint from abrasions, bug splatters, mud, debris, sand,
and stone chips. PPF films find uses in applications ranging from automobiles,
aircrafts, watercrafts, cell phones, smart gadgets, desktop, and laptop screens
and many more. Service life of a PPF also needs careful determination. Besides,
the PPF films are extremely durable and there is low probability that it may
live a shorter life than the vehicle.
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The
market witnesses several opportunities for development in near future, such as
rising number of OEM and electronic manufacturers, rise in young population
with streamline, and customized demands for automobile paints and presence of
international brands. However, availability of cheap substitutes at reasonable
prices contrary to the original product availability at higher price coupled
with high installation costs may fluctuate the market demand ultimately
creating challenges for market growth during the given forecast period.
The
market is trifurcated into product, application, and geography. Geographical
segmentation for Paint Protection Film market spans North America, South
America, Europe, Asia-Pacific, Middle East and Africa. North American market is
expected to rise at a staggering CAGR in the forthcoming period owing to rising
penetration of paint protection films in non-automotive applications coupled
with presence of large pool of consumers.
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On
the other hand, European market is expected to follow the trend along with
presence of OEMs and innovative concepts for automotive paints. EU countries
such as Germany and France are major manufacturer and suppliers of paint
protection films mainly for defense, automotive and aerospace domain.
Asia-Pacific’s Paint Protection Film market is anticipated to grow at a higher
CAGR in the forecast period owing to flourishing market in South Korea, Japan,
China and India with the presence of PPF manufacturers and substitutes for
international brands.
Middle
East and African regions are anticipated to grow at a positive CAGR due to
rising demand that caters to automotive paint needs in the tropical climate.
Shift in consumer patterns with cost benefits is likely to propel the local
market in MEA regions. The key players in the Paint Protection Film industry
include 3M Company, Lubrizol, SunTek Films, Solar Gard, Topaz, Avery Denison,
Argotec, Premier Protective Films, and XPEL Technologies.
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