Market Research Future published a Cooked Research Report on Global Paint Protection Film Market - Forecast to 2023
The Global Paint Protection Films Market is expected to exhibit a strong 5.89% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The Global Paint Protection Film Market is studied in great detail in the report, which studies the major factors responsible for the market’s growth, the major players operating in the market, and the leading factors enabling the market’s growth in the coming years. Great attention is paid to the major factors enabling the market’s growth as well as hindering it, to give readers a complete overview of the market’s major drivers and restraints. The leading players operating in the Global Paint Protection Film Market are also examined in the report.
Paint Protection Films are, as the name suggests, films that are applied on mechanical items such as vehicles, electronics and electrical appliances, and aerospace units in order to preserve the integrity of the paint job on the machines. Paint Protection Films are made from some kind of plastic polymer and provide effective resistance against minor abrasions such as gravel and sand, moisture, sunlight, and other agents. The importance of a smooth and clear paint job is not lost on automotive and electronics manufacturers, due to which the demand from the Paint Protection Films Market has risen in recent years. Many automotive manufacturers now provide Paint Protection Films as standard or as a purchasable option during the purchase of the car, further enabling growth of the Paint Protection Film Market.
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The growing automotive industry is likely to be the major driver for the Global Paint Protection Film Market over the forecast period. The automotive industry has grown rapidly in the last few years due to the growing purchasing power of consumers in developing countries. The rising level of disposable income in emerging countries such as India, China, and Brazil, the increasing government support to the automotive industry in these and other developing countries, and the increasing attention being paid by automotive manufacturers to sophistication in automotive design and display are likely to be the major drivers for the Global Paint Protection Film Market over the forecast period. The increasing demand from automotive manufacturers to maintain the paint for longer periods of time is likely to be a major driver for the Paint Protection Film Market over the forecast period.
Competitive Analysis:
Leading Players in the Global Paint Protection Films Market include RENOLIT, SWM, ORAFOL Europe GmbH, Saint-Gobain Performance Plastics, Xpel Technologies Corp., PremiumShield, HEXIS S.A., Avery Dennison Corporation, Eastman Chemical Company, and 3M.
In October 2019, Garware Polyester, a leading producer of polyester products in India, launched a new paint protection film for cars and SUVs. The whole process of wrapping the car in the film can take up to two days and more than INR 130,000.
Segmentation:
The Global Paint Protection Film Market is segmented on the basis of Application and Region.
By Application, the Global Paint Protection Film Market is segmented into automotive, aerospace and defense, electrical and electronics, and others. The automotive industry holds the largest share in the Global Paint Protection Films Market and is likely to remain the leading revenue generator over the forecast period. The automotive segment accounted for a whopping 71.5% of the Global Paint Protection Film Market in 2016, due to the widespread use of paint protection films in automotive applications.
Regional Analysis:
Asia Pacific is the leading producer of Paint Protection Films and is also a leading consumer due to the growing automotive industry in countries such as India, China, Japan, South Korea, Australia, and Indonesia. The growing number of automobiles sold in these and other APAC countries is likely to be a major driver for the Global Paint Protection Film Market over the forecast period. The electrical and electronics sector has also grown by leaps and bounds in Asia Pacific, which is likely to be a major driver for the Paint Protection Film Market in the region.
Browse Key Industry Insights spread across 85 pages with 71 market data tables & 11 figures & charts from the report, “Global Paint Protection Film Market: Information by Application (Automotive, Electrical & Electronics, Aerospace & Defense, and others) and Region– Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/paint-protection-film-market-4458
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