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(Transportation-News.com, November 19, 2019 ) The report "Paint Protection Films Market by Material (Thermoplastic Polyurethane, Polyvinyl Chloride), End-Use Industry (Automotive, Electronics, Construction), and Region (North America, Europe, Asia Pacific, MEA, South America) - Global Forecast to 2024" The global paint protection films market size is expected to grow from USD 242 million in 2019 and is projected to reach USD 341 million by 2024, at a CAGR of 7.1% from 2019 to 2024. Major drivers of the market include the increasing sales of luxury cars, coupled with high consumption of thermoplastic polyurethane material.
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Thermoplastic Polyurethane material is projected to lead the paint protection films market during the forecast period
Based on the material, the paint protection films market is segregated into polyurethane, polyvinyl chloride, and others. Among these, thermoplastic polyurethane accounted for the largest share and is expected to grow at the highest CAGR during the forecast period. Self-healing properties and increasing consumer spending for the protection of painted surfaces of vehicles is expected to augment market growth.
The automotive industry is the major consumer of paint protection films during the forecast period
Based on end-use industry, the paint protection films market is segregated into automotive, electronics, construction, and others. Among these, the automotive industry accounted for the largest share and is also expected to grow at the highest CAGR during the forecast period. This growth can be attributed towards cautiousness for maintenance of showroom finish of the vehicles, increasing resale value, and low impact of automotive industry slowdown on luxury cars sales throughout the globe.
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Browse in-depth TOC on "Paint Protection Films Market”
97 - Market Data Tables
34 - Figures
122 - Pages
Asia Pacific is projected to be the largest consumer of paint protection films during the forecast period.
By region, the paint protection films market is segregated into Asia Pacific, the Middle East & Africa, North America, Europe, and South America. Among these, Asia Pacific is expected to lead the paint protection films market during the forecast period. This growth is attributed towards increasing sales of luxury cars in the Asia Pacific region coupled with China being one of the largest producer and consumer of thermoplastic polyurethane material which is the major base material for manufacturing paint protection films.
Key players in the paint protection films market are 3M Company (US), XPEL, Inc. (US), Eastman Performance Films, LLC (US), and Hexis S.A. (France), and 20 others are considered for the study.
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