According to a research report by Stratview Research, the paint protection films market was estimated at USD 487.6 million in 2022 and is likely to grow at a CAGR of 5.59% during 2023-2028 to reach USD 677.75 million in 2028.

What is paint protection film?

The paint protection film is a thermoplastic urethane (self-healing) film designed to provide a protective layer between the painted surfaces (such as cars) and external elements. It is usually made up of several layers, including a clear topcoat for resistance against scratches and a self-healing layer to recover from minor scratches.

Market Dynamics

The market for paint protection films is expected to grow due to several reasons, including -

• Rising automotive paint protection demand – Paint protection films are used in automotive industries to safeguard vehicle surfaces from damage like scratches, chips, etc. The desire to maintain the vehicles’ appearance, resale value, and extend life has fuelled the demand for paint protection films.
• Growing customization desires – The rising trend of car customization is contributing to the growth of the global market for paint protection films. Paint protection films can be used to customize the appearance of vehicles, and this is becoming widespread among car enthusiasts.
• Rising Automotive sector - Population across the globe is increasing rapidly, and so does the demand for means of transportation. The automotive segment is witnessing a huge increase in the coming years. Paint protection films are widely used in this segment, and the growth in the automotive segment presents a favorable growth in the global paint protection films industry too.
• Increasing disposable income – People with high disposable income are more likely to spend money on protecting their vehicles, and customization. As disposable income increases, car enthusiasts and other individuals are more likely to spend a portion of their earnings to protect and enhance their vehicle’s aesthetics.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Segments' Analysis

Based on the material type, the market is segmented as thermoplastic polyurethane, polyvinyl chloride, and others. The thermoplastic polyurethane segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. Some of the properties driving the market for thermoplastic polyurethane paint protection films are anti-paling, self-healing, recyclability, and elasticity.

Based on the end-use industry type, the paint protection films market is segmented as automotive, electronics, construction, and others. The automotive segment dominated the market in 2022, owing to the maintenance of the new look of vehicles, increase resale value, scratch resistance, and protection from the adverse effects of sunlight and rain. The segment is likely to lead the market during the forecast period as well.

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for paint protection films during the forecast period, driven by an increase in sales of luxury cars. China is estimated to be the biggest producer and consumer of thermoplastic polyurethane, which is the principal base material preferred for making paint protection films. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Leading Players Covered in the Paint Protection Films Market Report:

• The 3M Company
• Avery Dennison Corporation
• Eastman Chemical Company
• GRAFITYP Selfadhesive Products NV
• Hexis S.A.
• ORAFOL Europe GmbH
• PremiumsShield Limited
• Saint-Gobain Performance Plastics Corporation
• Schweitzer-Mauduit International, Inc.
• XPEL, Inc.

To develop better customer understanding, the team at Stratview Research employ a range of quantitative and qualitative market research approaches. This report aims to help the users make use of the available data in a way, that profits the business and leads to growth.

Stratview Research is interested in learning what additional information, if included, would be beneficial to the users’ business. We also customise reports based on your preferred countries/regions, segmentations, companies, and so on. You can share any specific requirements related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

About Us:

Stratview Research is a global market research firm that delivers precise data and ground-breaking business study, helping organizations of all sizes make suitable decisions. We gather information for our clients, assisting them to address various challenges, and trends related to their market.