Asia Pacific Paint Protection Film Market By Application (Automotive & Transportation, Aerospace & Defense, Electrical & Electronics and Other Application) By Country, Industry Analysis and Forecast, 2019 - 2025
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The Asia Pacific Paint Protection Film Market would witness market growth of 7.41% CAGR during the forecast period (2019-2025). The Asia Pacific dominated the market in 2018 as the region is the largest automotive production and consumption industry. Low labor costs and increased transport activities, raw material availability and high demand attracted vehicle manufacturers to establish new plants in the area, thereby increasing demand for paint protection films during the forecast period.
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Automobile and transportation have been the most popular value-added application category. Rapid industrialization, coupled with growing transportation needs, has stirred passenger and commercial vehicle demand, which will eventually boost the market growth. In addition, increasing awareness of vehicle maintenance over the forecast period is likely to support segment growth.
During the forecast period, the Aerospace and Defense segment is in a position to post a substantial growth due to increased air transport coupled with rising defense practices by several countries. The flourishing aircraft manufacturing segment is estimated to fuel demand by using paint protection films to protect vessels from corrosion and oxidation.
Consumers around the world are investing in paint protection products to support the everyday use of electronic gadgets like computers, smartphones, tablets, TV sets, and refrigerators. It is anticipated that rising living standards coupled with increasing demand for miniature electronic devices would fuel demand in the electrical and electronics market.
The market is highly competitive in nature because several local and multinational companies offer high product volumes and product variants. Raw material choice is a major factor for manufacturers to achieve industry standards for film production for various applications.
Such products are expected to be available on the online platform, making them user-friendly for consumers around the globe, to fuel market growth. In addition, industry players' efforts to provide installation services through company-owned service stations and third-party installers will bode well for growth over the forecast period.
Based on Application, the market is segmented into Automotive & Transportation, Aerospace & Defense, Electrical & Electronics and Other Application. The countries included in the report are China, India, Japan, South Korea, Singapore, Malaysia and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, Scorpion Window Film, BASF SE, Covestro AG, Eastman Chemical Company, Avery Dennison Corporation, Ziebart International Corporation, XPEL, Inc., Saint-Gobain Group (Saint-Gobain Solar Gard, LLC) and Hexis S.A.
Scope of the Paint Protection Film Market Analysis
- Automotive & Transportation
- Aerospace & Defense
- Electrical & Electronics and
- Other Application
- South Korea
- Rest of Asia Pacific
- 3M Company
- Scorpion Window Film
- BASF SE
- Covestro AG
- Eastman Chemical Company
- Avery Dennison Corporation
- Ziebart International Corporation
- XPEL, Inc.
- Saint-Gobain Group (Saint-Gobain Solar Gard, LLC) and
- Hexis S.A.
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