According to the latest research by Fact.MR, The “Global Paint Protection Films Market Dynamics Analysis ” is a specialized and in-depth study of the chemical and material industry with a special focus on the market trend analysis. The report aims to provide an overview of the market with detailed market segmentation by type, application, end use and geography. The global market is expected to witness high growth during the forecast period.
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Segmentation analysis of Paint Protection Films Market
The global paint protection films market is bifurcated into three major segments: material, end use industry, and region.
On the basis of material, paint protection films market has been segmented as follows:
- TPU (Thermoplastic Polyurethane)
- PVC (Polyvinyl Chloride)
On the basis of end use industry, paint protection films market has been segmented as follows:
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On the basis of geographic regions, paint protection films market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Paint Protection Films Market: Regional Outlook
The report on the global paint protection films market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. East Asia is the leading consumer of paint protection films, on the back of China which is a world’s largest automotive and electronics market. Japan and South Korea have assisted the regional growth during the historical period. East Asia is followed by North America on the back of United States which is a one of the leading automotive market. Further, Increasing consumer spending and increase in per capita income coupled with high automotive sales in South Asia and Oceania is set to result in additional demand for paint protection films during the forecast period.
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Paint Protection Films Market: Key Players
Prominent players in the global paint protection films market are 3M Company, Eastman Performance Films, LLC, GRAFITYP Selfadhesive Products NV, Hexis S.A., Lubrizol, PremiumShield Limited, Reflek Technologies Corporation, Saint Gobain, STEK-USA, and XPEL, Inc. The paint protection films market consists of well-diversified global and regional players with global vendors ruling the market. Innovative product launches, strategic collaborations and numerous organic and inorganic strategies have been witnessed by paint protection films market players. Market goliaths like XPEL, 3M, Avery Dennison and BASF have been involved in product launches, strategic partnership in order to leverage immense profit across supply chain. For instance, in 2019, 3M company, strategically partnered with The Ferrari Club of America which will lure consumers towards company’s product. Similarly, in 2019, Avery Dennison launched polyurethane based paint protection film and XPEL launched a self-healing paint protection film in order to align themselves with market trends and to enhance their market position.
Trend of specialty films laced with extra coat is set to fuel the market growth of paint protection films during the forecast period. Increasing consumption of paint protection films as DYI (do it yourself) product will result in additional demand. Significant innovative solutions offered by prominent players are set to fuel its demand. For instance, thermoplastic polyurethane offers stain free and self-healing protection due to which it has emerged as choice of material among paint protection films manufacturers like XPEL, Inc and Reflek Technologies Corporation. Owing to this fact thermoplastic polyurethane based paint protection film has accounted for over major share in 2019.
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Automotive industry has driven the consumption of paint protection films during the historical period and is set to remain leading consumer during the forecast period. Protection of interior and exterior parts of luxurious cars will remain the growth epicenter for market. Further increasing demand from other applications like, commercial and household applications are projected to yield remunerative opportunities for paint protection films suppliers.
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