The worldwide uncoated paint protection film market is projected to show a CAGR of above 5% between 2017 and 2024. The requirement for UPPF, in terms of volume, is estimated to attain over 90 million sq ft by 2024 at a CAGR of over 4.5% during the coming period.
The key factors that will fuel the Uncoated Paint Protection Film market growth include an extension of automotive industry around the world and increasing stipulate for UV-curable paint protection film. The biggest application of the UPPF is the automotive sector and the increasing digit of automobiles around the world, particularly in the developing areas, would further drive the requirement for UPPF.
Our research analysts during secondary and primary study scrutinized that rising acceptance of electric vehicles and the launch of pioneering UPPF with numerous features would offer abundant avenues for growth of the market. The worldwide Uncoated Paint Protection Film market is bifurcated based on the application, product type, and geography.
Transparent paint protection film segment holds the greater stake in product type segment. This sort of UPPF is transparent and clear. It doesn’t alter the look or color of the painted plane. It upholds the actual color of the painted surface. The transparent paint protection film has an elevated requirement around the world. Nevertheless, stains and yellowing shown on the film because of revelation to the sun and other reasons can obstruct the stipulate for Transparent Paint Protection Film in the near future. Premium self-healing film is anticipated to develop at the rapid rate on account of diverse benefits such as avoidance of folds, dents, and actual look of the UPPF. The premium self-healing film produced profits over USD 300 Million in 2016.
In the application segment, the Uncoated Paint Protection Film market is governed by the automotive industry. The automotive industry used over 40 million sq ft around the world in 2016. UPPF are extensively used in automotive industry to guard the paint against scratches, corrosion, rust, dents, and other external factors. The rising digit of cars together with the mounting trend of electronic vehicles is projected to fuel the requirement for UPPF during the forecast period in the automotive industry.
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The market is expanding at a great pace in the developing areas. The Asia Pacific governs the market and is trailed by North America. The Asia Pacific is witnessing an increase in consciousness about the advantages of UPPF in a range of industries such as electronics & electrical, aerospace & defense, and automotive industry among others. The mounting industrialization, electronics manufacturing, automotive manufacturing, semiconductor manufacturing, together with aerospace & defense activities are projected to drive the requirement for UPPF in this region. Japan, China, ASEAN, South Korea, and India are few of the dominant countries in this region to take on UPPF.
The key market players in the worldwide uncoated paint protection film market are Argotec, 3M Company, Eastman, Avery Denison, Orafol, Hexis SA, XPEL, and PremiumShield, among others.