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Paint protection film (PPF) is a thermoplastic material, which when applied on painted surfaces heals automatically. Paint protection films is significantly used in automobile industry to shield the components, which might be more prone to abrasion or damage. These films are especially used to prevent damage to the painted surface of automotive and other transportation vehicles, caused by rock chips and other material. Product durability, price, and environment friendliness are predicted to be the key elements influencing customer choice. Furthermore, they are broadly utilized in numerous applications, including automobile, electrical & electronics, and aerospace & defense. Increase in consumer recognition concerning vehicle paint protection toward bug splatters, stone chipping, and abrasions is expected to boost the demand for paint protection film during the forecast period.
The outbreak of coronavirus has a deep impact on the automobiles and aircraft industry. The pandemic has forced the government to implement stay home policy, which reduces the demand for automobiles across the globe. The transportation industry is at standstill as government has restricted travelling. Furthermore, international travel ban will reduce the demand for the aircraft industry. These factors will directly affect the production of vehicles and aircraft, which results in reducing the requirement for paint protection film.
Rapid industrialization coupled with surge in demand for transportation, has led to an elevated demand for passenger and commercial automobiles, subsequently driving the demand for paint protection film. The global paint protection film market is expected to develop significantly due to the different factors such as surge in demand from electronic gadgets, expansion of the automobile sector, and increase in defense budgets across various nations. Moreover, improvement in standard of living coupled with surge in demand for miniature electronic devices is expected to further boost the demand for paint protection films for electrical and electronic merchandise. Similarly, improved economic situation, increase in automobile production & automotive sales, and surge in consumer preference toward cost-effective merchandise are some of the important factors that are predicted to provide the lucrative opportunities to the paint protection film demand during the projected timeframe. However, excessive installation cost associated with this product is expected to decline the growth of the market.
Increase in thermoplastic consumption coupled with rise in sales of luxury vehicles is predicted to drive the growth of paint protection films industry during the forecast duration. Properties including self-recovery, elasticity, non-yellowing, and recyclability are anticipated to drive the demand for thermoplastic polyurethane-based paint protection films. Moreover, developing product demand from the energy, medical, and construction industries is expected to drive the market for paint protection film. Improvement in living standards coupled with rise in demand for electronic gadgets is anticipated to reinforce the demand for paint protection films within the electronics segment. The industry has been undergoing a sequence of product developments integrated with suitable compositions to offer advanced performance characteristics. This will further drive the market growth during the forecast period.
Region wise, the paint protection film market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is the largest consumer of paint protection films, and is predicted to grow significantly during the forecast period. Low labor cost, increase in transportation activities, and availability of raw materials encourage automobile producers to set up new plants within the region, thereby driving the demand for paint protection films. North America is expected to witness massive growth within the paint protection film market, due to presence of numerous product manufacturers. Furthermore, increase in aircraft and automobile manufacturing within the region significantly contribute toward the market growth.
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