Paint Protection Film Market Analysis, Size, Share and Growth

The global paint protection film market is expected to reach USD 1.49 billion by 2022, according to a new report by Grand View Research, Inc. Growth of automotive industry coupled with rising consumer awareness regarding car protection is expected to remain key factors driving growth.

Increasing application scope across key end-use industries such as electrical & electronics and aerospace & defense is expected to further contribute towards industry growth. Changing lifestyle along with shift in preference towards look of the vehicle is also anticipated to positively influence growth.

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Increasing per capita disposable income in emerging economies of Asia Pacific and Latin America coupled with advent of technologies such as internet connected cars is expected to fuel automotive sales and in turn compliment paint protective film market growth.

Automotive emerged as the leading application segment and accounted for over three quarters of total demand in 2014. It is also expected to witness highest CAGR of 6.4% from 2015 to 2022. Increasing demand from heavy-duty vehicles owing to longer shelf life of these films is expected to drive application segment growth.

Further key findings from the report suggest:

Global paint protection film market demand was 1,103.4 thousand sq. meters in 2014 and is expected to reach 1,659.5 thousand sq. meters by 2022, growing at a CAGR of 5.3% from 2015 to 2022.

Aerospace & defense accounted for over 10% of total market volume in 2014. Increasing defense sector investment in countries such as China, India and Russia is expected to drive application segment growth at a CAGR of 2.9% from 2015 to 2022

Asia Pacific was the leading regional market and accounted for over one-third of the global demand in 2014. Automotive production growth and advent of China as the leading producer in the industry shall drive growth over the...