INDUSTRY FORECAST
The increasing demand for luxury and passenger electric vehicles is expected to drive the market. Several states in the U.S., including California, New Jersey, Washington, and Louisiana, offer tax credits, exemptions, and rebates for promoting the procurement of electric vehicles (EVs). New Jersey and Washington exempt the sales and use taxes on electric vehicles (EVs).
In addition, all automotive manufactures will most likely use water based paint with less clear coat instead of the a acrylic paints. Not as durable as oil based, water based will need additional protection. Paint protection film and ceramic coatings will become more and more necessary.
AUTOMOTIVE INDUSTRY FUTURE
Paint protection film market size was valued at USD 458.28 million in 2021 and is expected to register a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030. The shift in consumer preference toward keeping the finish of their vehicles intact, coupled with the rising awareness among them for ensuring proper maintenance of their automobiles, is expected to fuel the demand for paint protection films worldwide.
PAINT PROTECTION FILM
| Market size value in 2022 | USD 477.78 billion |
|---|---|
| Revenue forecast in 2030 | USD 739.40 billion |
CERAMIC COATING
Ceramic coating market size was valued at USD 9.75 billion in 2021 and is likely to expand at a compound annual growth rate (CAGR) of 7.8% from 2022 to 2030. The ceramic coating promotes increased heat resistance coupled with fewer emissions to the atmosphere. These factors are likely to augment the market growth during the forecast period.
| Market size value in 2022 | USD 10.42 billion |
|---|---|
| Revenue forecast in 2030 | USD 19.19 billion |
Automotive tinting film market size was valued at USD 6.65 billion in 2022 and is anticipated to progress at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. The industry is anticipated to be driven by the growing automotive industry.
AUTOMOTIVE TINTING
| Market size value in 2023 | USD 7.10 billion |
|---|---|
| Revenue forecast in 2030 | USD 11.7 billion |
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