Global sales of surface protection films are valued at around US$ 1.5 Bn in 2022. Over the 2022 to 2030 projection period, the global surface protection films market is projected to register 5.7%CAGR and reach a valuation of US$ 2.3 Bn by the end of 2030.
Which Factors Are Expected To Drive Market Growth Over The Decade?
“Rising Adoption of Advanced Surface Protection Films to Boost Market Expansion”
More individuals are discovering new technologies such as smartphones and tablets, where advanced surface protection films are commonly utilized, thanks to an increase in digital literacy.
Consumer electronics are becoming more popular, there is a growing middle-class population around the world, e-commerce is becoming more popular, and technical advances and internet and smartphone penetration are increasing, all of which are contributing to the market growth.
Further, advancement in technologies such as foldable displays and 8K resolution is driving the requirement for innovative and advanced surface protection films that meet increasing performance and quality prerequisites.
For instance,
· Pregis acquired Italy-based Soprad (So.Pr.Ad.) SRL, a global supplier of temporary protective films. The acquisition will help the companies share best practices and boost their production capacity to support future market requirements. Going forward, Soprad’s products would be promoted under PolyMask a Pregis’ brand, which is further likely to strengthen its offerings to an expanding global market.
· Tredegar Surface Protection, a leading producer of surface protection films, recently commissioned an advanced production line for manufacturing innovative surface protection films.
What Are Challenging Factors Faced By Surface Protection Film Manufacturers?
“Harmful Chemicals Used in Protection Films Hampering Market Growth”
Chemicals used in the creation of protection films are toxic, and if they come into touch with the human body, they can impair people’s health. This works as a limiting element for the market expansion over the forecast period.
Which Region Is Expected To Lead The Global Market For Surface Protection Films?
“Rising Initiatives for Infrastructure Development Driving Demand for Multi-Surface Protection Films in Europe”
Presence of numerous manufacturers in the region as well as growing construction projects is fueling the consumption of multi-surface protection films.
Given the uptick in vehicle manufacturing and upper development in the consumer electronics industry, market participants are also focusing their attention on Europe. Development activities have increased significantly as a result of rising focus on infrastructure growth in numerous industries, particularly in Europe.
Country-Wise Analysis
Will the U.S. Surface Protection Films Market Exhibit Steady Growth?
“Growing Interior Design Activities to Boost Demand for Paint Protection Films”
Growing disposable income, combined with rising popularity in renovating homes, has fueled expenditures in interior design services, these factors driving demand for paint protection films in the U.S.
Because of large target consumers and an established economy, the United States is expected to contribute significantly to the growth of the global surface protection films market.
Why is Demand for Surface Protection Films Surging in China?
“Expansion of Automotive Sector to Fuel Sales of Stretch Wrap Films”
The China surface protection films market = is expected to be a prominent market during the forecast period. The automotive sector is one of the key contributors to GDP and employment in China.
Rising industrialization and urbanization, growing middle-class population, and rising consumer spending are driving demand for stretch wrap films. Therefore the surface protection films market has huge opportunities for growth in China.
Which End-use Industry Will Emerge as Key Market Contributor?
“High Demand from Construction & Interiors Industry to Provide Exceptional Surface Protection to Augment Market Growth”
Surface protection films are predominantly used in the construction and interiors industry to provide temporary protection to hard surface flooring, synthetic carpets, and also guard against construction debris and damage.
The construction and interiors industry has exhibited healthy growth over last few years, and this is expected to continue in the foreseeable future. Growing number of infrastructure development programs such as urban expansion programs and rural housing schemes across emerging countries are anticipated to play a pivotal role in increasing demand for surface protection films.
Furthermore, demand for surface protection films is projected to rise in the future owing to their consistent use for carpet and floor protection in commercial and residential painting applications.
COVID-19 Impact on Surface Protection Film Sales
COVID-19 had a negative impact on the packaging films market. As a result, prices have risen and volumes have declined. Surface protection film industries suffered as a result of the lockdowns and limitations on import and export activities.
Numerous companies are now offering antivirus protective films in the fight against COVID-19. Increased public awareness regarding hygiene has boosted the requirement for germ-killing films to battle against the pandemic, and this is providing new business prospects to market players and incumbents.
Competitive Landscape
Prominent manufacturers of surface protection films are focusing on product development to reinforce their market positions. These manufacturers are innovating their product lines and offering innovative products with additional features to cater to a wider array of applications.
For instance,
· Dow Corning’s has manufactured silicone-enabled protective film solutions, specially designed for the growing electronic devices industry. The company has added desirable features such as low adhesion, low migration silicone PSAs, and high-performance silicone hard coating. These features are deemed suitable for modern touchscreen display panels, which have quickly gained market share.
· Nitto Denko Corporation’s surface protection films are specifically designed for laser processing LASERGUARD series, with emphasis on features such as no chlorine-based gas emissions during laser machining, smoother finishing, with no need for film peeling-off work, which used to be a requirement before processing in conventional protective films.
These insights are based on a report by Ismail Sutaria Surface Protection Films Market by Future Market Insights.