Global Paint Protection Films Market Industry Key Revenue Pockets

Northbrook, IL, USA, 2021-Sep-29 — /EPR Network/ —

The paint protection films market size is estimated to be USD 242million in 2019 and is projected to reach USD 341million by 2024, at a CAGR of 7.1% from 2019 to 2024. Increasing consumption of thermoplastic consumption, coupled with rising sales of luxury cars, is expected to drive the growth of paint protection films market during the forecast period. Moreover, China being one of the largest producer& consumer of thermoplastic polyurethane material, creates a scope for sustainable growth of paint protection films.

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Based on material, the market has been classified into thermoplastic polyurethane, polyvinyl chloride, and others. In terms of value, thermoplastic polyurethane accounted for the largest share of the paint protection films market. This growth is on account of its self-healing properties and increasing consumer spending for the protection of painted surfaces of vehicles.

Based on the end-use industry, the paint protection films market has been classified into automotive, electronics, construction, and others. In terms of value, the automotive sectoraccounted for the largest share in 2018 and is expected to grow briskly during the forecast period. This growth can be attributed towards cautiousness for maintenance of showroom finish of the vehicles, increasing resale value, and low effect of automotive industry slowdown to luxury cars sales throughout the globe.

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Based on geography, the paint protection filmsmarket is segregated into five regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South Africa. In terms of value, Asia Pacific accounted for the largest share in the paint protection films market in 2018. This growth is attributed towards increasing sales of luxury cars in the Asia Pacific region coupled with China being the major producer and consumer of thermoplastic polyurethane material which is the major base material for manufacturing paint protection films.