VALLEY COTTAGE, N.Y. – As per the recent report by Future Market Insights (FMI), the surface protection films market size is expected to reach a value of US$ 2.3 Bn by 2029, growing at a CAGR of 5.7% during the forecast period 2019-2029. Growing need for protecting and enhancing the longevity of surfaces in a number of end-use industries for optimal operation continues to influence the demand for surface protection films.
Key manufacturers in the surface protection films market are focusing on the development of products with newer variabilities in lamination. An increase in the need for more digitalized and advanced gadgets have a significant impact on the demand for co-extrusion lamination.
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According to FMI study, demand for co-extrusion lamination is expected to grow at a CAGR of 6% during the forecast period. This can be attributed to the ability to incorporate very thin layers of a material to impart effective barrier properties. On the other hand, the adhesive lamination is expected to hold 70% of the market share by 2027.
Rising Demand for Conformal Coatings and Self-Healing Protection Film to Push Market Growth
Surface protection films provide excellent protection against various hazardous elements in the environment, providing resistance to the damage and adhering to the applied surface. Polymeric coating is considered to be an ongoing trend in the global market. During the manufacturing of the wind turbine, polymeric coatings are applied on the surface in order to mitigate the rain erosion damage. These factors continue to reflect changing trends in the surface protection films market.
Preview Analysis of 2019 Analysis and Review of Surface Protection Films Market by Material – PE, PET, PP, PU, and PVC for 2019 – 2029:https://www.futuremarketinsights.com/reports/surface-protection-films-market
The FMI study opines that conformal coating is gaining momentum in several manufacturing industries, especially in electronics industry, as it protects circuit boards from harsh environment. The use of surface protection films in electronics industry is anticipated to grow at a CAGR of 4.7% through to 2029. Considering significant expansion of the electronics industry, key market players are targeted towards capitalizing on both and domestic and professional electronics.
Currently, automotive and construction industries are experiencing tremendous usage of self-healing surface protection films made of adhesives, polyurethane, clear coats, and polyesters. Self-healing surface protection films continue to account for high demand, primarily owing to ease of use and application.
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Surface protection films worth around US$ 1.3 Bn are expected to be sold in the construction industry by 2029-end. Manufacturers are viewing Western Europe and Asia Pacific from target market perspective, on the backdrop of rapid expansion of construction industry in these regions.
In addition to increasing application scope of their products, key players in the surface protection films market are on an acquisition spree for stronger global footprint. R&D for new materials and techniques along with investments in capacity enhancement and distribution networks further remain key focus area of the manufacturers.
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“Key market players are focusing on the effective marketing strategies, in order to enhance their brand value and customer loyalty. Continuous launch of new products is making the marketplace highly competitive and is likely to create a barrier for new entrants that are vying for a pie of the surface protection films market,” says the FMI analyst.
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