Demand for Paint Protection Film and Impact of COVID-19……..Posted by Mrudula Anil Karmarkar on March 8th, 2022 The global paint protection film market size is projected to reach USD 428.09 million by 2028, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.4% during the forecast period. Increasing consumer awareness about vehicle paint protection against stone chipping, bug splatters, and abrasions is expected to trigger the demand for Paint Protection Films (PPFs). On the other hand, ceramic coating technologies are likely to be used as a substitute to these films on account of their superior performance against abrasions and scratches, thus impacting the growth of the market. In addition, frequent discrepancies in raw material pricing as well as declining automotive production in several economies, such as the U.S., Korea, and Japan, are predicted to act as a restraining factor for the market players. However, the rapid growth of other end-use application sectors, such as aerospace & deference and electrical & electronics, is anticipated to provide new opportunities to them. The global market is highly competitive on account of the easy availability of raw material and the strong presence of several key players with sufficient production capacities. Product sustainability, price, and durability are anticipated to be the key factors impacting the buyers’ decisions. The product is broadly available in retail as well as online platforms. Moreover, its installation necessitates expertise and specially trained employees for optimal results. Therefore, key industry participants are also focusing on after-purchase services. Some players have various established contracts with domestic installers to expand their geographical presence. The growing application scope of the product and the development of high-performance films are expected to boost the product demand over the coming years. Furthermore, innovations in technology to offer sustainable products with minimal environmental impact are projected to propel the demand in the forecast period. Product variation concerning performance and quality to resist stains, abrasions, and scratches is also anticipated to be one of the key factors defining the demand for Paint Protection Films (PPFs). Furthermore, the introduction of novel technologies to produce long-lasting films with greater resistance against adverse atmospheric conditions is expected to drive the market over the forecast period. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/paint-protection-film-market/request/rs1 Paint Protection Film Market Report Highlights
List of Key Players of Paint Protection Film (PPF) Market
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