Paint Protection Film Market
October 2023- The old national sales manager and head trainer for PremiumShield is returning to business—the time on his own and is collaborating with a European brand of paint protection film (PPF). Jamie Werner said that they are happy to disclose the creation of Auto Lab, a distribution hub and all-around resource for auto restyling and much more. Auto Lab will distribute CovrGard, a UK-based PPF brand, as well as Graphtec plotters and Vyper Industrial equipment, which makes chairs for automotive garages. Werner says that stepping into this realm allows us to continue to offer valuable resources, products, and amazing ecosystems for their network of professionals to utilize for the growth of their businesses.
November 2023- Hagens Berman urges XPEL, Inc. investors who suffered substantial losses to submit their losses now. In a recent public filing, XPEL stated its paint protection film-related ("PPF") revenue with respect to Tesla vehicles is only 5% of its total year-to-date revenues. But on Oct. 19, 2023, XPEL's claims came into question when activist short-seller Culper Research published a scathing report, "XPEL, Inc.: That's a Wrap." Culper claims that based on a survey of over 100 XPEL installers, he estimates Teslas actually represent 25% to 35% of XPEL's PPF business. In addition, Culper claims that "the Company is concealing a massive undisclosed risk from its primary supplier which threatens to upend the Company's entire reason for being." Specifically, Culper alleges that XPEL's long-time supplier entrotech has formed a joint venture with PPG, which has integrated protection technology directly into OEM paint. Culper contends that XPEL has "conspicuously removed all mentions of entrotech" in its recent SEC filings, suggesting that "XPEL is burying the uncomfortable fact that it's been leap-frogged by PPG and that its long-time supply partner has decided to work with PPG rather than move forward with XPEL understandably." This news has caused XPEL shares to decline sharply.
Prominent players in the paint protection film market, including 3M (US), XPEL, Inc. (US), Dow (US), Eastman Chemical Company (US), Hexis S.A.S (France), PremiumShield (US), STEK-USA (US), and others
