May 23, 2017, Tampa, Florida – Global paint protection film market is expected to reach USD 1.34 billion by 2024, according to a new research study published by Ameri Research.The growth of automotive industry in emerging economies of Asia Pacific such as China, India, Thailand, and Malaysia is anticipated to remain the key driving factor for market growth. Consumers become increasingly aware regarding benefits of paint protection film in developed as well as developing regions. Moreover, thepresence of large number of installers coupled with availability of wide range of films is expected to fuel demand over the forecast period.
Escalating defense budgets across the globe along with strong growth of electrical & electronics industry in Asian countries including Thailand, Taiwan,Malaysia and Indonesia are other key factors expected to augment industry growth over the next seven years. Recovery of theautomotive industry in developed regions such as North America and Europe is set to influence demand in the near future positively.
Automotive was the leading application in 2016 and is projected to continue its domination over the next seven years. Benefits provided such as protection from road debris, sand, & bug acids along with transparent appearance, extreme durability, and long shelf life is driving paint protection film demand in luxury and premium cars.
Click the link below to view the report description: – https://www.ameriresearch.com/product/paint-protection-film-market-outlook-2024
Key findings from the study: –
- Major automotive manufacturers have shifted their production capabilities to emerging economies of Asia Pacific and Latin America due to tax exemptions, cheap labor, and prolific domestic demand.
- Asia Pacificwas the leading regional market in 2016 and is expected to grow at an estimated CAGR of 6.2% from 2017 to 2024.Growing population, specifically the millennial generation, in developing economies of Asia Pacific, coupled with rising disposable income in the region is expected to drive demand for automobiles over the forecast period.
- As compared to 2012, automotive sales had witnessed considerable growth from 42 million in 2012 to 45 million in 2015
- Major companies operating in the globalpaint protection film market includeAvery Dennison, 3M Company, Xpeltechnologies Corp., Llumar, Premium Shield, Himark Paint Protective Film Ltd, SolarGard, Suntek Films, Vanzetti Engineering S.R.L, and Argotec.
- Recent trends in the industry include theadvent of water-borne and ecological protective films that are removable, thickness adjustable and can be matched with OEM colors.
- Paint Protection Film Market by Application (Volume, Thousand Sq. Meters; Revenue, USD Million)
- Electrical & Electronics
- Aerospace & Defense
- Paint Protection Film Market by Region (Volume, Thousand Sq. Meters; Revenue, USD Million)
- North America
- Asia Pacific
- Southeast Asia
- Central & South America
- Middle East & Africa (MEA)
- Saudi Arabia
Company Name: Ameri Research Inc
Contact Person: Media Relations
Address:6816 Muncaster Ct, Tampa, FL 33625
Country: United States