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The global Paint Protection Film market is expected to reach USD 369.3 million by 2022.
The market is driven by factors such as growing rate of automobile such as cars, bikes, and the other high-end vehicles coupled with rise in disposable income and increase in spending in automotive as well as OEM sector.
The paint protection film market is expected to witness a CAGR of 6.6% in the forthcoming period.Economic stability acts as a booster for Paint Protection Film in a particular geographical market.
PPF films find uses in applications ranging from automobiles, aircrafts, watercrafts, cell phones, smart gadgets, desktop, and laptop screens and many more.
Besides, the PPF films are extremely durable and there is low probability that it may live a shorter life than the vehicle.The market witnesses several opportunities for development in near future, such as rising number of OEM and electronic manufacturers, rise in young population with streamline, and customized demands for automobile paints and presence of international brands.
However, availability of cheap substitutes at reasonable prices contrary to the original product availability at higher price coupled with high installation costs may fluctuate the market demand ultimately creating challenges for market growth during the given forecast period.The market is trifurcated into product, application, and geography.