SURFACE PROTECTION FILMS MARKET: KEY INSIGHTS
- Glass & mirrors remain primary application of surface protection films; furniture surfaces to offer white spaces.
- Preference for polyethylene (PE) remains intact, owing to its excellent mechanical properties.
- Manufacturers would reap bigger margins from the construction and interiors sectors.
- Western Europe would remain in the driver’s seat; Market in Asia Pacific excluding Japan (APEJ) to reflect lucrative prospects.
- Rapid growth of consumer electronics industry would further offer new revenue lines to market players.
Surface Protection Films Market Outlook
The surface protection films will witness a healthy growth with growth in construction industries as the prime driver throughout the assessment period. Recently invented and developed surface protection films also protect against high temperatures and fire helping in the extension of a product lifespan.
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. Innovative high-quality materials will assist in commercializing new products more rapidly to ascertain satiating markets' quality requirements in addition to keeping pace with the fast introduction of new models in the television and mobile phone markets.
Market players are focusing on fortifying their market impression by strategic mergers and acquisitions as well as product innovations. For instance,
Pregis acquired Italy-based Soprad (So.Pr.Ad.) SRL, a global supplier of temporary protective films. The acquisition will help the companies to share the 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 that 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 making innovative surface protection films. On account of the increase in demand for quicker design cycles in the OLED and LCD markets and high-quality surface protection films, the business has invested around $5 Mn for scaling-up their product portfolios in its Virginia-based Richmond Technical Center.
Numerous companies are also offering antivirus protective films in the fight against COVID-19. Increased public awareness of hygiene has boosted the requirement for germ-killing films to battle against the pandemic, this is providing new business prospects to the market players and incumbents. For instance, Spandex / Brunner Folien, under the brand name Image Perfect SafeTouch is offering films with germ-inhibiting surfaces since the end of June 2020.
KEY FACTORS SHAPING SURFACE PROTECTION FILMS MARKET
High Demand from Construction Industry to Provide Exceptional Surface Protection
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 global building and construction industry has exhibited healthy growth over the last few years, and this is expected to continue in the foreseeable future.
Growing number of infrastructure development programmes such as urban expansion programs and rural housing schemes across emerging countries are anticipated to play a pivotal role in increasing the demand for surface protection films. Furthermore, the demand for these surface protection films is projected to rise in the future, owing to their consistent use for carpet and floor protection during commercial and residential painting applications.
However, the coronavirus (COVID-19) pandemic is spreading across continents, with epidemiological numbers increasing exponentially. Witnessing the alarming situation, governments across the world have imposed lockdowns and restrictions on import and export activities in highly lucrative regions. As such, the construction industry has been under constant pressure due to the logistics paralysis. This, in turn, will have an adverse effect on the surface protection films market.
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New Product Formulation Emerges as New Strategy in the Market
Prominent manufacturers is the surface protection films market 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,
- In October 2019, Garware Polyester Limited, an India-based polyester films manufacturer, introduced self-healing paint protection films that offer the highest level of impact resistance.
- Similarly, Dow Corning’s has manufactured silicone-enabled protective film solutions, especially 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 of film peeling-off work, which used to be a requirement before processing in conventional protective films.
Asia Pacific to Remain Prominent in Surface Protection Films Market
?The Asia Pacific surface protection films market is expected to be a prominent market during the forecast period. It is expected to exhibit a CAGR of 7% during the forecast period. The automotive sector is one of the key contributors to GDP and employment in the Asia Pacific region. As the region consists of many developing countries, it registers impressive GDP growth annually. Therefore, the surface protection films market has huge opportunities for growth in the Asia Pacific region.
SURFACE PROTECTION FILMS MARKET: STRUCTURE ANALYSIS
- Chargeurs S.A, Nitto Denko Corp, Tredegar Corporation, and Bischof + Klein SE & Co. KG companies are the largest and most experienced in the global surface protection films market.
- Leading manufacturers are adopting expansion and merger strategies to expand their businesses and product portfolios.
- Product development and new product launches are key trends followed by prominent manufacturers in the surface protection films market.
- For Instance, in July 2019, Polifilm GmbH launched new ultra-thin and highly transparent prestretch manual films. The company is extending its prestretch film range by highly transparent 5 µm manual film.
- Prominent end-use industries such as construction & interiors, electrical & electronics, and automotive are generating substantial demand for surface protection films across continents.
- The global surface protection films market is fragmented in nature, with key manufacturers focusing on providing tailored solutions as per end-use industry demand.
- Base Year - 2019
- Historical Period - 2015-2019
- Forecast Period - 2020-2030
- Market Value in 2019 - US$ 1.2 Bn
- Segments Covered - Thickness, Technology, Material, Colour, Application, and End use
- Regions Covered - North America, Latin America, Western Europe, Eastern Europe, APEJ, MEA, and Japan
- Key Companies - Chargeurs S.A, Nitto Denko Corp, Tredegar Corporation, Polifilm GmbH, Bischof + Klein SE & Co. KG, Surface Guard Inc., Ecoplast Ltd, DUNMORE Corporation, Grafix Plastics, Surface Armor LLC, LAMIN-X Protective Films, Pelloplast OY, Sun Packaging, Aristo Flexi Pack, Alvest SAS, MacDermid Autotype Ltd, Wanjie New Material Company, Foshan City Shunde District Hualibao, Jiangyin Hengfang Imp. & Exp. Co., Ltd, Shandong Jiarun New Material Co. Ltd, and DUTE Industrial Group
- Growth Drivers
- Upsurge in construction and infrastructure development projects
- Upswing in production of automobiles
- Rapid growth of consumer electronics industry
PE Continues to Gain Prominence
Manufacturers continue to bank on polyethylene (PE) for developing surface protection films, given their cost-effective and excellent resistance attributes. Although PE-based surface protection films will register around US$ 1 Bn in 2030, they are likely to falter in the years ahead, as polymer exhibits a low recyclability rate. Polyethylene terephthalate (PET), on the other hand, offers greater rigidity and recyclability as compared to other materials, and thus, will experience notable upsurge in its usage for developing surface protection films. This study further states that, over half of surface protection films are either made from PE or PET.
Western Europe in the Lead; APEJ to Follow Closely
Western Europe, capturing around one-third of overall market value, continues to engage surface protection film manufacturers. While Germany is shaping the regional market growth, the market in Spain is exhibiting rapid growth. Further, the U.K. will outperform France, in terms of value creation, towards the end of the projection period. Market players are also driving their attention towards Asia Pacific (excluding Japan), given the upswing in production of automobiles and top-line growth of the consumer electronics industry, especially in China, and India.
Product Innovation - Key Differentiating Strategy
Players in the surface protection films market must focus on innovating their product lines in tandem with additional features to cater to a wider array of applications. For instance, Dow Corning’s has manufactured silicone-enabled protective film solutions, especially for the flourishing electronic devices industry. The company offers additional features such as low adhesion and migration silicone PSAs, as well as high-performance silicone hard coating, which are suitable for touchscreen display panels. Manufacturers that create distinctive capabilities and invest in product innovation will be better positioned for increased margins.
How Growth will Unfold
Over half of total market value would be realized by the construction & interiors sector, wherein, surface protection films are leveraged to provide temporary shielding to hard surface flooring, synthetic carpets, and also protection against construction debris and damages. The electrical & electronics industry is also reflecting value-capture opportunities, underpinned by rapid penetration of consumer electronics, worldwide. While the automotive sector is witnessing a gradual decline, especially in the U.S. and China, market players are unpacking growth potential in the healthcare industry.
Surface Protection Films Market Report Scope
Historical Data Available for
US$ Mn for Value and Tons for Volume
Key Regions Covered
North America, Europe, Latin America, East Asia, South Asia, Oceania, and Middle East & Africa (MEA)
Key Countries Covered
U.S, Canada, Mexico, Brazil, Peru, Chile, Poland, Germany, Italy, Spain, United Kingdom, Nordic Region, Benelux, Rest of Europe, China, India, Japan, Korea, Indonesia, Malaysia, Singapore, Taiwan, Thailand, Rest of South Asia, Australia, New Zealand, GCC, Turkey, South Africa, and Rest of MEA
Key Segments Covered
Thickness, Technology, Material, Colour, Application, End use and Region
Key Companies Profiled
Market Overview, Key Market Trends, Key Success Factors, Demand Analysis, Market Background, COVID-19 Analysis, Segmental Analysis, Regional Profiling, Market Structure & Competition Analysis
Customization & Pricing
SURFACE PROTECTION FILMS MARKET TAXONOMY
The global surface protection films market is segmented in detail to cover every aspects of the market, and present a complete market intelligence approach to the readers.
- Up to 25 microns
- 25-50 microns
- 50-100 microns
- 100-150 microns
- Above 150 microns
- Adhesion Lamination
- Dry bond lamination
- Wet bond lamination
- Energy curable adhesive lamination
- Hot melt seal coating
- Solventless lamination
- Coextrusion lamination
- Metal sheets
- Glass & mirror
- Prepainted surfaces
- Plastic sheets
- PVC profiles
- Furniture surfaces
- Carpet protection
- Construction & interior
- Electrical & electronics
- North America
- Latin America
- Western Europe
- Eastern Europe