The global paint protection film market size is expected to reach USD 369.3 million by 2022

LONDON, April 10, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5360545

The global paint protection film market size is expected to reach USD 369.3 million by 2022, according to a new report by Grand View Research, Inc. Automotive aftermarket growth in Asia is a key growth driving factor for the industry, with China, Southeast Asia, India and Japan being major demand centers.
Thermoplastic urethane films which gained prominence as surface protectors in helicopter blades have evolved gradually, over the past, to find greater usage in automotive and electronic applications. The product pioneered by companies in the U.S. has attained global acclaim for protecting surfaces against abrasion, corrosion, chipping, and wear.
Globally, the industry is characterized by intense competition amongst global and small-scale companies by means of pricing and product differentiation. A key trend is the re-emergence of PPF in aerospace applications where its usage ranges from fuselage surfaces to cockpit instrumental panels, which led to companies offering specialized products for now diverse applications.
From a consumer perspective, greater income disposability has led to buyers being able to decide from various paint protection products & services.Traditionally Teflon coatings were the preferred choice due to cheaper pricing and decent lifespan.

However, PPF has gained prominence due to its versatility of application, that include chosen components of a vehicle or the vehicle in its entirety, and product lifespan that extends up to five years from installation.

Further key findings from the report suggest:
• The global paint protection film market volume is expected to exceed 8.01 million sq. meters by 2022, growing at a CAGR of 5.3% from 2015 to 2022
• In terms of consumption, the U.S. accounted for over 23% of the overall volume in 2014, with the country being hub to major brands such as 3M and XPEL
• China, which has emerged as a major automotive manufacturing hub, is expected to grow at a CAGR 8.2% from 2015 to 2022. Positive outlook on consumer spending on automotive aftermarket services is a major factor in driving growth
• Electrical & electronics and aerospace application together accounted for nearly 20% of the overall revenue generated in 2014. In the electronics sector, PPF is gaining traction in display screens, mobile phones and tablets
• Industry competition is highly factored by product differentiation and pricing. Another major aspect of the industry is the cost associated with installation, where consumers are aware of brand offerings but deter from PPF purchases due to higher installation costs
• Some of the key companies present in the market include 3M Company, XPEL Technologies, LLumar, DuraShield, Argotec, Premier Protective Films International, Avery Denison, Vanzetti, PremiumShield, Solar Gard, SunTek Films, Paint Shield, Proshield, and StarShield Solutions

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