The global paint protection film market size is projected to reach USD 428.09 million by 2028, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.4% during the forecast period. Increasing consumer awareness about vehicle paint protection against stone chipping, bug splatters, and abrasions is expected to trigger the demand for Paint Protection Films (PPFs).
On the other hand, ceramic coating technologies are likely to be used as a substitute to these films on account of their superior performance against abrasions and scratches, thus impacting the growth of the market. In addition, frequent discrepancies in raw material pricing as well as declining automotive production in several economies, such as the U.S., Korea, and Japan, are predicted to act as a restraining factor for the market players. However, the rapid growth of other end-use application sectors, such as aerospace & deference and electrical & electronics, is anticipated to provide new opportunities to them.
The global market is highly competitive on account of the easy availability of raw material and the strong presence of several key players with sufficient production capacities. Product sustainability, price, and durability are anticipated to be the key factors impacting the buyers’ decisions. The product is broadly available in retail as well as online platforms. Moreover, its installation necessitates expertise and specially trained employees for optimal results. Therefore, key industry participants are also focusing on after-purchase services. Some players have various established contracts with domestic installers to expand their geographical presence.
Request a free sample copy or view report summary: Paint Protection Film Market Report
In 2020, automotive & transportation emerged as the largest application segment and accounted for over 72% of the global revenue share, in which a majority of the product demand is attained from the passenger cars segment due to its superior color protection characteristics
The aerospace & defense application segment is poised to register the fastest CAGR of 7.8% over the forecast period
The growth of this segment can be attributed to the increasing investments in the aircraft and defense sectors in China, U.S., and India
In 2020, the electrical & electronics application segment accounted for 4% of the overall market volume
This share resulted majorly from the demand for electronic gadgets, such as mobiles, laptops, tablets, and phablets, in emerging economies of Asia Pacific and Central & South America
In 2020, Asia Pacific was the leading regional market, in terms of volume as well as revenue, due to high product demand
The regional market will expand further at the fastest CAGR from 2021 to 2028 mainly due to a significant rise in automotive sales in emerging economies, such as China, India, Vietnam, Thailand, and South Korea
Grand View Research has segmented the global paint protection film market on the basis of application and region:
PPF Application Outlook (Volume, Thousand Sq. Meters; Revenue, USD Million, 2017 - 2028)
Automotive & Transportation
Electrical & Electronics
Aerospace & Defense
PPF Regional Outlook (Volume, Thousand Sq. Meters; Revenue, USD Million, 2017 - 2028)
Central & South America
Middle East & Africa
List of Key Players of Paint Protection Film (PPF) Market
KDX Composite Material
Eastman Chemical Company
Premier Protective Films International
Avery Dennison Corp.
This report has a service guarantee. We stand by our report quality.
Your transaction & personal information is safe and secure.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
Avail customized purchase options to meet your research needs:
"The quality of research they have done for us has been excellent..."