The global paint protection film market, during the forecast period 2015-2023, will register growth at a CAGR of 5.89%. The market for paint protection film is set to reach US$1277.821 million by 2023. As per market analysts, the global market is anticipated to witness growth owing to the factors such as growing demand in various end-user sectors as well as demand across aircraft, ships, boats, and electronic gadgets sectors. However, the market will face challenges and restraints due to high expenses and budget concerns among small and medium size businesses during the forecast period 2015-2023.
The
growing demand for paint protection in automobiles in the market is set
to play a key role in determining the growth potential during
2015-2023years. Analysts have also studied the market to understand
potential threats and challenges the market companies could face.
Although the market is poised to grow at a fast pace across application
and regional segments, factors such as fluctuation in prices could slow
down the paint protection film market's growth worldwide.
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Market Segmentation
The paint
protection film market has been segmented into application and
regional. Based on the segment which is application, the market is
categorized on the basis of electrical & electronics, aerospace
& defense, automotive, and others. The global market research report
covers all the aspects of the market based on the segmental analysis of
these application and regional segments. Analysts have also studied the
global market's regional markets spread across many continents and
countries. The application and regional segments along with their
sub-segments have been analyzed and companies functioning in
the market across these segments are profiled and analyzed based on
input and feedback from market based decision makers as well as primary
and secondary sources. The market research report presents analysis
based information for companies functioning in the paint protection
film market.
Regional Overview
The
high installation costs may hinder the paint protection
film market growth. The market research report suggests that companies
in the market could be supported by the rising demand and production of
vehicles as well as the on-going innovation in technology during the
forecast period. The market is set to register growth at a high CAGR
owing to these key factors. The market is spread across North America,
Europe, Asia-Pacific, and other parts of the world. The
global market research report reveals that APAC, North America, and
Europe regional markets will dominate the global market for paint
protection film during the forecast period 2015-2023. As
per market analysts, the market is set to witness tremendous growth
across automotive and automobiles and aircraft segments in Europe as
well as North America which covers markets across the United States,
Canada, Mexico and several other regional markets. Major businesses
active in the paint protection film market are also analyzed and studied
in the market research report.
The market for
Europe covers smaller market segments of Germany, Italy, France, and
the United Kingdom. Additionally, the market research report covers the
Asia-Pacific region covering markets from India, China, Japan,
Australia, and others. The market is also spread across the rest of the
world. The market report covers all such regions including the Middle
East, Africa, Brazil, and others.
Competitive Landscape
Paint
protection film has seen increased demand over the years, due to the
introduction of new technologies and qualities such as resistance
towards environmental conditions. Companies functioning in the
global paint protection film market are also being challenged due to the
fluctuating prices of raw materials and the lack of skilled labor.
Mergers and acquisitions by market companies are anticipated to help the
market during the forecast period 2015-2023. As the market is set to
register a high CAGR of 5.89% and is also anticipated to reach a
US$1277.821 million by 2023, the report highlights key areas companies
need to focus on. The report suggests that the market will see a healthy
growth in the long run till 2023. Based on SWOT analysis and market’s
analysis based on Porters’ Five Force Model presented in
the market report. Mergers and acquisitions by paint protection
film market companies are anticipated to help the market during the
forecast period 2015-2023.
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Industry News
XPEL,
Inc. has today reported that it has decided to buy the Protex Centre,
the world's biggest Protex Canada network franchisor and distributor of
protecting films and coatings. Closing is customary and is scheduled to
take place on 1 February 2020. Protex Center is a wholesale film
installer company headquartered in Montreal that mainly serves
dealerships with more than 20 employees and 15 years of operational
experience. The investment is estimated to increase incremental sales by
over CAD $2.5 million, excluding the annual acquisitions of about CAD
$1.0 million by the Protection Center from XPEL.
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