A three-pronged approach was followed for deducing the paint protection film market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for paint protection film market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of paint protection film market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The paint protection film market was categorized into three segments, namely material (Thermoplastic Polyurethane (TPU), Polyvinyl chloride (PVC)), application (Automotive & Transportation, Electrical & Electronics, Aerospace & Defense) and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).
The paint protection film market was segmented into material, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The paint protection film market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Mexico; Germany; France; the UK; Italy; Spain; Netherlands; Norway; China; Japan; India; South Korea; Australia; Malaysia; Indonesia; Thailand; Brazil; Argentina; Saudi Arabia; UAE; South Africa.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The paint protection film market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Beijing Kangde Xin Composite Material Co., Ltd - The company was established in August 2001 and is headquartered in China. The company has three major business segments including new materials, intelligent display, and carbon fiber. The six core markets for the company include healthcare, transportation, consumer products, industrial, energy, and smart cities. KDX Group operates through KDX America LLC, KDX Europe BV, and K3DX Display. Kangde Xin Optical Film Materials (Shanghai) Co., Ltd. or KDX Window Films registered in 2014 in the Shanghai Pilot Free Trade Zone operates as a subsidiary of KDX Composite Material Co., Ltd. It handles the paint protection and window film business of the KDX Composite Material Co., Ltd. The KDX Window Films business caters to fields such as 3D smart displays, new energy electric cars, pre-coating materials, and optical materials. Its product portfolio includes automotive films, architectural films, safety & security films, and paint protection films. As of December 2021, the company employed about 4,000 personnel globally.
3M - was established in 1902 with the name Minnesota Mining and Manufacturing Company and is headquartered in Minnesota, U.S. The company is listed on the New York Stock Exchange and is engaged in providing adhesives, sealants, consumer goods, tapes, films, and other allied products. The key business divisions of the company include safety & industrial, healthcare, transportation & electronics, and consumer. Paint protection films are manufactured by the company through its films segment under the safety & industrial business division. 3M produces automotive films, electronics films, paint protection films, window films, and architectural finishes under the brand name Scotchgard. The Scotchgard Paint Protection Film Pro Series offers superior protection to automotive surfaces against weathering, chips, and scratches. Internationally, 3M operates 89 manufacturing facilities in 30 countries. As of December 2021, the company had an employee strength of 95,000 personnel.
XPEL, Inc.- The company was founded in 1997 and is based in Texas, U.S. The company was formerly known as XPEL Technologies Group, which changed its name in June 2018. It manufactures, distributes, and installs aftermarket automotive products in the U.S., Canada, and the UK. In the U.S., Canada, and parts of Europe, the company operates primarily by selling complete paint protection film solutions directly to independent installers and car dealerships with the products including XPEL protection films, installation training, and access to the company’s proprietary design software, marketing support, and lead generation. The company operates six company-owned installation centers in the U.S. and one installation center each in the UK, and the Netherlands, which serve wholesale and retail customers. It operates through third-party distributors in the rest of the world, who operate under contracts with the company to distribute and install the company’s products. The product portfolio of XPEL Technologies Corp. includes paint protection films, automotive window films, flat glass window films, and plotters. In China, the company operates through a sole distributor named Shanghai Xing Ting Trading Co., Ltd. As of December 2021, XPEL, Inc. operates 11 company-owned installation centers globally with an employee strength of 709 personnel.
SWM, Inc. - SWM or Schweitzer-Mauduit International, Inc. was established in 1995 after its spin-off from the Kimberly-Clark Corporation and is based in Georgia, U.S. The company and its subsidiaries provide custom solutions and advanced materials for various markets globally such as agriculture, packaging & beverage, consumer goods, energy, erosion control, filtration, healthcare, home industrial, infrastructure, reverse osmosis, safety solutions, transportation, and tobacco. SWM, Inc. operates its business through two different segments, including engineered papers (EP) and advanced materials & structures (AMS). Under the advanced materials & structures, the company is involved in manufacturing and selling highly engineered resin-based non-woven, films, and nets. The overall product portfolio of SWM, Inc. includes engineered composites, fibers & yarn, films, netting, non-woven, paper, soil stabilization, tapes & adhesives, tobacco products, and tubing & parts. The films division comprises antimicrobial films, aperture films, glass lamination interlayer films, graphic films, industrial textile lamination films, medical films, medical films for dental alignment, medical utility applications, paint & surface protective films, specialty films, and tekra films.
Premier Protective Films International: - The company was established in 1997 and headquartered in California, the U.S. The company is also known as Premier Mobile and specializes in advanced paint protection films, window tint installations, and radar detector/laser jamming systems. The company is involved in the installation of paint protection films for the automotive industry. For installation purposes, the company uses products manufactured by different companies including Bekaert, Avery, Venture, Llumar, 3M, and Madico. Primarily, Premier Protective Films International uses products from Prestige Film Technologies, which manufactures paint protection films, window films, and screen protection for the automotive industry. The company is mainly into paint protection film installation for super-premium cars. Other business segments include dealing with pre-owned cars, and installation of films on window glasses to prevent accidental damages.
Eastman Chemical Company: Eastman Chemical was established in 1920 and is headquartered in Tennessee, U.S. The company's business consists of four segments such as additives & functional products, advanced materials, chemical intermediates, and fibers. The major markets served by the company include transportation, building and construction, consumables, tobacco, consumer durables, industrials & chemicals processing, food, feed and agriculture, and health and wellness. In the advanced materials segment, Eastman Chemical Company manufactures and markets plastics, films, and polymers for end-use markets such as consumables, medical & pharma, building & construction, durables & electronics, and transportation. The paint protection film business of the Eastman Chemical Company is operated by Eastman Performance Films, LLC, and the paint protection films are marketed under the brand names LLumar, SunTek, and V-KOOL.
Avery Dennison Corporation: The company was established in 1935 and headquartered in California, the U.S. It is a global material science and manufacturing company specializing in the design and production of labeling and functional materials. The business segments of the company include label & graphic materials, retail branding & information solutions, and industrial & healthcare materials. Under the label & graphic materials, Avery Dennison Corporation produces paint protection films for vehicle & transportation applications. It markets its paint protection film under the brand name Supreme. The major industries served by the company include advertising and promotions, apparel, architecture and buildings, automotive, consumer packaged goods, durable goods and equipment, electronic & electrical, food, medical and healthcare, retail, RFID, supply chain & logistics, and transportation. As of December 2021, the company is present at 287 locations in more than 50 countries with an employee strength of more than 35,000 people.
Saint-Gobain S.A.: The company was founded in 1665 in Paris and headquartered in Courbevoie, France. The company started its operations in mirror manufacturing with the business expanding to the construction of a variety of construction and high-performance materials. The key areas served by the company are construction (Residential and commercial), civil engineering & infrastructure, automobile & transportation, aeronautical & aerospace, defense & security, health, industrial, and household appliances. Saint-Gobain’s manufacturing plant in Massachusetts is involved in manufacturing coatings and plastic films for industrial applications. It provides a solution for automotive paint protection needs and manufactures advanced products for use in the automotive industry. The product for paint protection is named Saint-Gobain CSPro, which was designed using the latest urethane film technology. The film can heal itself when scratched and return to the gloss level from the original application over time. As of December 2021, Saint-Gobain S.A. has a presence in 75 countries with a total employee strength of more than 166,000 people.
Matrix Films: The company was founded in 1982 and is headquartered in Massachusetts, U.S. The company manufactures, sells, and installs urethane-based films for automobiles. PremiumShield and PremiumShield Elite are two different grades of the product used widely for automobile applications. The product, PremiumShield Elite comes with a lifetime warranty and provides clear paint protection films. Protective Solutions, Inc. is the leading installer, which uses PremiumShield products for premium automobiles. The company provides PremiumShield Cut Studio software to help customers with templates. Matrix Films has satellite offices and warehouses across the UK and the U.S. In October 2021, Eastman Chemical Company acquired the business assets of Matrix Films.
RENOLIT SE: The company was established in 1946 and headquartered in Worms, Germany. The company operates as a subsidiary of JM Holding GmbK & Co. KGaA. RENOLIT SE was formerly known as Renolit-Werke GmbH and changed its name to Renolit in 2003. It manufactures high-quality plastic films and related products for technical applications. The major industries served by the company include automotive, home & building, packaging, maritime, healthcare, wind energy, and visual communication. The product range for the automotive industry includes digital printing films and car wrapping products, composites, tapes, paint protection films, and pressed sheets. The company serves the building industry with products including geo membranes, composites, interior finishing products, windows and facades, roofing membranes, tents & awnings, and roofing & cladding sheets. The company caters to civil engineering applications with hydraulic works, underground works, and environmental protection. It also offers films for furniture and door in-fills, composites, stretch ceilings, and tapes for furniture surfaces. RENOLIT SE manufactures paint protection films for automotive and sign & graphics segments. Its transparent film provides surface protection for numerous applications such as posters, digital prints, books, or vehicle paint finishes. For floor graphic applications the company has a structural embossing for an anti-slip surface. As of 31st December 2021, the employee strength of the company is 5,084 people working in 19 production sites, and 14 sales offices in over 20 countries.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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