The global surface protection films market is anticipated to expand at a CAGR of 5.5% over the forecast period of 2020-2030, according to a report by Future Market Insights called, “Surface Protection Films Market.” The report further states that the market is witnessing a demand upsurge to protect metal and plastic sheets, glass and mirrors, pre-painted surfaces, carpets, and furniture surfaces from vibrations and dust scratches. Various types of surface protection films, such as transparent, translucent, and colored/tinted films have been gaining traction over the past couple of years, attributable to the rising preference for protective packaging. Furthermore, the ability to provide chemical, UV, and abrasion resistance to several industrial and non-industrial applications is broadening the adoption of surface protection films.
As such, the global surface protection films market is set to experience decent growth through 2030, crossing a valuation of $2 billion toward the end of the forecast period.
“The growth outlook for the market seems promising, owing to excellent conformability, high adhesive strength and abrasion-resistant attributes of surface protection films. On the other hand, sales are estimated to witness considerable decline in the next two quarters of 2020, owing to the COVID-19 pandemic across continents. Majority of revenue is realized from the construction and electronics industries. Lockdown and restrictions on import and export activities in high potential countries such as China and India have created an adverse impact on these industries. This will hinder the growth of the surface protection films market in the near term. However, shifting inclination toward the adoption of protective packaging solutions will boost the demand for surface protection films over the coming years.”
Key Takeaways from Surface Protection Films Market Study
Glass and mirrors remain key application areas of surface protection films, followed closely by furniture surfaces. These two collectively accounted for nearly 45% revenue share in 2019, primarily attributable to growth of the construction industry.
Polyethylene (PE) remains highly preferred for manufacturing surface protection films, owing to its low cost and exceptional tear-resistant attributes. This polymer material will continue to maintain its positive trend over the decade ahead.
The global surface protection films market is highly competitive. Manufacturers of surface protection films are focusing on providing additional features and employing newer technologies such as self-healing to ensure easy peeling without leaving any residue on the surface. These innovations provide convenience features to end users, and help manufacturers in achieving product differentiation.
Focus of Prominent Manufacturers on Market Consolidation
Leading players in the global surface protection films market are focusing on strengthening their foothold in the landscape by expanding their business footprints. Manufacturers are also enhancing their production capacities through strategic mergers and acquisitions. For instance, in March 2020, Pregis a North America-based manufacturer, acquired Italian temporary protective films manufacturer Soprad. The company Soprad is a manufacturer and supplier of performance-oriented adhesive protective films for a variety of surfaces, including metal, plastic, glass and carpets. In July 2018, the company launched cost-effective, temporary surface protection films specifically-designed for a new generation, fingerprint-resistant or speciality-coated products.
In August 2017, Chargeurs S.A. acquired OMMA Srl., one of Italy’s leading manufacturers of application machines for surface protection films.
In June 2017, Bischof + Klein SE & Co. KG set up a new extrusion coating line. This is expected to increase the output and enable complete omission of solvents.
About the Surface Protection Films Market Report
Future Market Insights, in its new offering, offers an unbiased analysis of the global surface protection films market, analyzing historical demand of 2015-2019 and forecast statistics for 2020-2030. The study unravels growth projections of the surface protection films market on the basis of thickness (up to 25 microns, 25-50 microns, 50-100 microns, 100-150 microns and above 150 microns), material (PE, PET, PP, PU, PVC and others), color (transparent, translucent, colored/tinted and opaque), technology (adhesion lamination and co-extrusion coating/lamination), application (metal sheets, glass and mirrors, pre-painted surfaces, plastic sheets, PVC profiles, furniture surfaces, carpet protection, and other applications), and end use (construction and interiors, electrical and electronics, automotive, industrial, healthcare and others), across seven major regions. Furthermore, the scope of the report focuses on surface protection films consumed in the packaging industry.
Visit https://www.futuremarketinsights.com/reports/surface-protection-films-market for more information.