Growth Market Report: Surging Demand for Paint Protection Films

In November 2021, XPEL, a leading provider of protective films and coatings, made an acquisition that further expanded its product offerings. The company secured invisiFRAME, Ltd., a UK-based designer and manufacturer of bicycle paint protection films. This strategic move allowed XPEL to tap into the growing demand for Paint protection films (PPF) among cyclists, who are increasingly looking for ways to protect their bikes from scratches, chips, and other forms of damage. 

Since the automotive, construction, and electronics industries make extensive use of paints and paint protection films, the growth of these industries is anticipated to boost the demand for paint protection films substantially. Due to their protective properties, paint protection films are especially required in the automobile industry. 

According to a recent survey report published in August 2023, around 75% of the US population already had access to cars by March 2023. In addition, approximately 20% of people have access have some type of family or company car. Furthermore, factors such as increasing population, rising per capita income, and technological advancements in the paint industry are making PPF a primary requirement for various end-use products that require long-lasting paint jobs.

What is a Paint Protection Film?

Paint protection film (PPF) is a thermoplastic urethane that is typically applied to painted surfaces to safeguard the paint. Paint protection films have a high demand, especially in the automobile industry, due to their protective properties. These films enhance the life of paint by reducing the tarnish and fading caused by oil, dirt, pollution, and bird droppings. Furthermore, it protects the paint from water stains, road debris, and UV radiation. Their vast application in the construction and electronics industries is primarily because of their resistance to UV rays, dirt, and water stains.

Market Insights on Paint Protection Films

High demand from various end-use industries is expected to drive the market as the use of paint protection films has significantly increased in recent years. Apart from their ability to protect vehicle paint from external damage, these films enhance the car’s appearance by providing realistic colors that are a close imitation of the original paint job. The growth of the automotive and transportation industry worldwide is expected to be the key driving factor for the expansion of this market.

Rising awareness among consumers regarding paint protection is increasing demand for PPF. While paint protection films were initially designed for military usages, factors such as rapid industrialization, high-income levels, and growing ownership of personal vehicles have led to consumers showing interest in using them for their vehicles. Manufacturers and producers are capturing this ongoing trend, which is further contributing to the market expansion.

Extensive research and development activities are being conducted in the field of polymers used in paint protection films. The quality of raw materials and the methods and functionality of the manufacturing process have been heavily worked upon and improved. This has resulted in the creation of high-quality films with exceptional performance. 

The use of advanced technologies to create durable films is expected to create favorable conditions for the growth of paint protection films. However, even though it may appear to be a one-time investment, its installation requires expert handling, which results in elevated installation costs. Experts ensure that the protective films are installed correctly without causing any damage to the surface of the designated object. Generally, protective films are avoided or restricted if the customer intends to keep the vehicle for a short duration.

What does the Future Hold?

The automotive industry is one of the largest consumers of paint protection films. The production of passenger as well as luxury vehicles has increased significantly over the years. Factors such as rising awareness regarding paint protection and the advent of electric vehicles are expected to provide substantial propulsion to the market. Even polyvinyl chloride (PVC) paint-based protective coatings are extensively implemented in the electronics industry. According to the report published on Growth Market, the global paint protection films market size was USD 313.38 Million in 2022 and is likely to reach USD 520.53 Million by 2031, expanding at a CAGR of 5.7% during 2023–2031.