U.S. Paint Protection Film Market Size, Share & COVID-19 Impact Analysis, By Material (Thermoplastic Polyurethane, Polyvinyl Chloride, and Others), By End-Use Industry (Automotive, Electronics, and Others), and Country Forecast, 2023-2030

The U.S. paint protection film market size was worth USD 79.6 million in 2022 and is projected to grow at a CAGR of 6.4% during the forecast period.

A paint protection film is a self-healing film applied to the painted surfaces of a car to protect the paint from bug splatters, minor abrasions, and stone chips.

Increasing demand from the rapidly growing automotive and electronics industry is anticipated to drive the U.S. paint protection film market growth. In developing economies, the untapped potential for marine-based mobility is likely to create new market opportunities. The rising demand for PPF in the U.S. is owed to increasing demand from the automotive and electronics industries. Fragmented and severe weather conditions in different seasons have prompted the use of high-quality paint protection films by automakers. Increasing demand for high-quality and long-lasting products is anticipated to drive market growth in the country.

The growth of the automobile industry is directly proportional to the market growth. This market will further benefit from rising living standards and a growing preference for electronic devices during this forecast period.

During the COVID-19 pandemic, raw materials required to manufacture PPF witnessed acute price fluctuation due to a shortage of supply. Due to restrictions imposed in several countries across the Asia Pacific region, one of the major raw materials such as Thermoplastic Polyurethane (TPU) film, witnessed dramatic fluctuations in its supply chain. Various projects that were delayed during the pandemic owing to several unseen challenges are anticipated to get back on track, creating significant demand for these films.

U.S. Paint Protection Film Market Trends

Increasing Consumer Awareness of Proper Vehicle Maintenance is a Prominent Trend

The car's paint protection film is a long-term investment. The film for automobiles is UV-resistant, stain-resistant, chemical-resistant, and self-healing. In addition to the mentioned characteristics, vehicle owners can choose between a matte and a gloss finish, depending on their preferences. However, these films are constantly evolving, with pearl matte PPF and black PPF being the most recent models. PPF preserves the vehicle's original-grade finish, keeps it appearing pristine for longer by shielding dented areas, and increases its resale value. This increases customers’ preference, resulting in increased demand for these films.

U.S. Paint Protection Film Market Growth Factors

Rising Demand for Paint Protection Film from Various End-Use Industries to Boost Market Growth

Paint protection films are used to protect the paint from scratches, bug platters, stone chipping, abrasion, and other exterior damage. These applications of the films play an important role in maintaining the vehicle surfaces and protecting vehicle paints. Moreover, the rapidly growing automotive & transportation industry globally is expected to be the key driving factor for the U.S. market.

According to 3M Corporation, the helicopter rotor blades of the U.S. Department of Defense were damaged by shrapnel, trees, and other debris during the Vietnam War. As a result, the films were developed as a solution to this problem. The task of developing a protective layer that is extremely strong and lightweight was assigned to the 3M team. The solution was known as helicopter tape or a specialized, purpose-built urethane film.

RESTRAINING FACTORS

High Installation Cost to Restrain the Market Growth

The initial installation price of these films is high as it needs expert supervision. Experts ensure the proper installation of these films without any damage or error on the painted surface of the designated object. Moreover, the use of such films gets restricted or avoided if the customer anticipates keeping the vehicle for a short duration.

U.S. Paint Protection Film Market Segmentation Analysis

By Material Analysis

Based on material, the market is segmented into thermoplastic polyurethane, polyvinyl chloride, and others.

The thermoplastic polyurethane segment accounted for the largest U.S. Paint Protection Film market share in 2022 and is likely to maintain its dominance and growth rate during the forecast period. The thermoplastic polyurethane (TPU) based paint protection films are ideal for achieving the desired non-yellowing clarity, self-healing properties, and stain resistance and also help in preserving the vehicle’s new appearance. It has enduring impact, strength, and elasticity. Thermoplastic polyurethane-made paint protection films are easy to remove without breaking or tearing owing to their low-temperature flexibility, allowing them to conform to intricate shapes and surfaces easily. The superior properties of TPU such as good biocompatibility and excellent abrasion resistance will drive the segment growth. Polyvinyl chloride (PVC) is a synthetic plastic and is the most common component of first-generation paint protection films. The cost-effective nature of the material will boost the segment growth.

Polyvinyl chloride (PVC) held the second-largest market share in 2022. PVC comes with different finishes and provides effective weather resistance and flexibility to the products. These properties enable the production of highly customized weather-resistant paint protection films. Increasing demand for PVC-made paint protection films from the marine and transportation sector is anticipated to play a key role in driving the growth of the segment in the country.

By End-Use Industry Analysis

By end-use industry, the market is segmented into electronics, automotive, and others.

The automotive segment held a larger share in 2022. The recent past has witnessed rapid growth in the country's automotive sector. Wider adoption of these films by the well-developed automotive industry is anticipated to be a major factor driving the U.S. market. Higher disposable income is another factor driving the automotive industry to propel market growth.

For instance, according to the U.S. Department of Energy, the sales of new light-duty plug-in EVs, including all plug-in hybrid electric vehicles (PHEVs) and EVs, almost doubled from 308,000 in 2020 to 608,000 in 2021.

The electronics segment accounted for the second-largest market share in 2022. The rising disposable income, expanding urban population, robust supply chains, and expanding global internet penetration contribute to a significant rise in demand for electronic appliances. Rising digitalization pushed by the pandemic is anticipated to play a key role in driving the electronics segment in the U.S. market.

List of Key U.S. Paint Protection Film Market Companies

In terms of the competitive landscape, the market depicts the presence of established and emerging paint protection film companies. The major market players operating in the market include Eastman Chemical Company, 3M, AVERY DENNISON CORPORATION, XPEL, Inc., and others. These key players are primarily competing based on the product’s application characteristics and price of the product. The key players are emphasizing product innovation, collaborations, acquisitions, and social marketing.

LIST OF KEY COMPANIES PROFILED:

• Eastman Chemical Company (U.S.)


• 3M (U.S.)


• AVERY DENNISON CORPORATION (U.S.)


• XPEL, Inc. (U.S.)


• RENOLIT SE (Germany)


• SWM, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• November 2021- XPEL acquired invisiFRAME, Ltd., a designer and manufacturer of paint protection film patterns for bicycles, to expand its non-automotive offerings further.


• June 2021- Avery Dennison announced training classes for automotive paint protection film and window film to help the participants improve skills and techniques, reduce installation time, and maximize profits.

REPORT COVERAGE

The study report thoroughly examines key factors such as leading companies, applications, and products. It also provides market trends and highlights significant industry advancements. The study includes different variables that have contributed to the market's growth in recent years and the factors listed above. It examines the industry's newest market dynamics and opportunities, as well as historical data and revenue growth estimates at the country level.

Report Scope & Segmentation