Protective Films Market

Global Protective Films Market Size (2024 to 2032)

The Global Protective Films market was valued at USD 18.65 billion in 2023. The global market size is expected to grow at a CAGR of 6.2% from 2024 to 2032 and be worth USD 32.05 billion by 2032 from USD 19.81 billion in 2024.

Current Scenario of the Global Protective Films Market

The demand for protective films is increasing as they improve the durability and useful life of the material by protecting it from scratches and abrasions. In addition, technological advancements are expected to provide a sustainable product with environmental impact protection to improve the size of the protective film market.

Surface protection films are generally used to prevent scratches on the surface and protect the surface from dust particles. They provide useful life to items and are used to provide an affordable approach to protecting expensive items, and are unaffected by the penetration of environmental components such as chemicals. The design of these films contains a polymer-based substrate layer that is coated with an adhesive layer. They peel off easily after finishing operations and guarantee surface quality without leaving any residue or marks after removing the film. Protective films can be cut, wrapped, or rolled up as needed.

The growing popularity of new-age smartphones and touchscreens that use a polyester-based protective film to prevent damage to sensors and touchscreen during manufacturing and shipping is likely to help the protective film market. 

MARKET DRIVERS

The increased demand for protective films from the construction and construction industry, transportation and packaging industry, and especially the automotive and electronics industry are the main drivers for the growth of the protective films market share during the forecast period. The rise of the automotive and transport industry subsequently increased the market for protective films. Due to the rapid urbanization and industrialization in the Asia-Pacific region, the construction market is growing rapidly, thus increasing the demand for glazing panels, floors, and window profiles using protective films. According to Oxford Economics, the global construction market is expected to grow 86% to reach $ 16.5 trillion globally by 2030. With the increasing popularity of solar power generation, the growth of protective films is also increasing. Photovoltaic modules are exposed to a variety of environmental stressors, including ultraviolet (UV) rays. Polymer films are used to cover solar cells, providing protection against humidity, mechanical stress, and environmental corrosion. According to the International Renewable Energy Agency, the total installed capacity of photovoltaic solar cells reached 580,159 MW in 2019, or 483,078 MW in 2018, which subsequently intensified the growth of the protective films market. 

MARKET RESTRAINTS

The difficulty of recycling polymer-based protective films acts as a brake on the growth of the protective films market. The chemicals used in the production of surface protection films are harmful and come into contact with the human body and can have a negative impact on human health. This acts as a limiting factor for the growth of the market during the projected period. The volatility of crude oil and the prices of its derivatives entail a significant risk in the profit margin of many manufacturers since the volatility of the raw material affects the prices of products in general, and these factors may slow down the growth of the Protective Films market.

MARKET OPPORTUNITIES

The increasing introduction of new technologies for making films with superior properties, resistance to environmental conditions, and long-lasting films are expected to provide lucrative opportunities for developing the market during the forecast period. The high consumption of electronic devices across the world in various applications and the growing demand by consumers to protect their electronic products from scratches, damage, dust, and other contamination are providing opportunities for the Protective Films market.

MARKET CHALLENGES

Although the demand for polyethylene protective films is increasing day by day, their disposal is a major concern. Protective films are difficult to dispose of and recycle because they are made of a non-degradable polyethylene polymer. Therefore, their direct elimination increases the threat to the environment. In addition, government regulations aimed at minimizing the use of multi-layered plastic polymers will act as a stressor for the protective film industry. Fluctuations in commodity prices are expected to be a major challenge for market growth which may constrain trade growth during the assessment period. In addition, the lack of skilled labor will likely be a major challenge for market growth. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Protective Films Market By Class

The adhesive coatings segment is the largest segment of the protective films market and is expected to grow with a higher CAGR of 8.5% between 2021 and 2026. These types of protective films are most frequently used in the paint industry and glass because of their compatibility with substrates such as glass, plastics, and metals and the ease of the manufacturing process, while the self-adhesive film finds difficulty in maintaining uniform viscoelastic nature and peel strength, leading to a complex manufacturing process.

Global Protective Films Market By Type

Polyethylene-type protective films have the largest market share of over 26% in 2023 in the global market due to their easy availability, and they are the cheapest among all the others. Its suitability with various water-based adhesives, acrylics, solvents, and others explains the increase in demand. Polyethylene exports grew 14% between 2017 and 2023 globally, dominating the film market. In addition, the availability of polyethylene films in different variations such as LDPE, HDPE, XLPE, VLDPE, and HMWPE gives you an edge over others.

Global Protective Films Market By End-User 

The automotive segment is expected to experience the highest CAGR of 10% during the forecast period in the Protective Films market, owing to the increasing demand for electric vehicles in the world. According to the OICA, total car sales reached 96 million in 2023. The rapid industrialization coupled with the increase in transport results in an increase in demand for vehicles, which subsequently results in an increase in demand for films. Protectors for the protection of automotive paints, dashboards, carpets, and leather. The building and construction sector has also become a leading end-use industry in the global market. Urbanization has led to the rapid growth of the building and construction industries. According to the IEA, the global floor area of ​​buildings is expected to double to over 416 billion square meters by 2050, due to which building materials such as window panels, doors, and carpets are also expected to have rising demand. 

 REGIONAL ANALYSIS

 Asia-Pacific dominated the market in 2023, with the region being the largest automotive production and consumption market. Low labor costs, increased transportation activities, and availability of raw materials encourage automakers to establish new factories in the region, which subsequently leads to demand for paint protection films. 

The North American market is expected to register a CAGR of over 6.0%, in value, during the forecast period. This is attributed to the increase in car sales and the number of aging fleets. The mature manufacturing sector, the presence of multinational original equipment manufacturers (OEMs), and favorable government regulations are also expected to drive product consumption in the years to come.

The European market was valued at USD 65.4 million in 2023 due to the high production volumes of passenger cars and airplanes. The growing defense budgets of countries such as the UK, Germany, and France and the development of the electronics sector are expected to boost the regional market.

MEA is expected to experience slow development due to the presence of underdeveloped economies and a lack of awareness. However, the Middle East is expected to contribute in one way or another to the development of the regional market due to economic stability.

KEY PLAYERS IN THE GLOBAL PROTECTIVE FILMS MARKET

Avery Dennison, Nitto Denko Corporation, Chargeurs, Saint-Gobain S.A, Arkema S.A, Hitachi Chemical Co., Ltd, Toray Industries Inc, E.I. Du Pont De Nemours and Company, The 3M Company, Surface Armor LLC, Covertec SRL, Echotape, Dunmore, Lamin-X Protective Films, BP Plastics Holding BHD, Mactac, KAO Chia Plastic Co., Ltd, Panduit, MT are some of the notable companies in the global Protective Films Market

RECENT HAPPENINGS IN THE MARKET

• In February 2023, San Antonio-based XPEL Inc. acquired the Montreal paint protection film installation industry, PROTEX CENTER, for approximately $ 2.60 million.
• In December 2023, Garware Polyester, a world-famous name in the manufacture of polyester films, started the production of paint protection films for automotive paint protection.
•  In September 2016, Pregis LLC acquired the Temporary Protective Films business of 3M, which supplies adhesive temporary protective films used in the automotive, appliance, metalwork, and construction industries.

DETAILED SEGMENTATION OF THE GLOBAL PROTECTIVE FILMS MARKET INCLUDED IN THIS REPORT

This research report on the global protective films market has been segmented and sub-segmented based on class, type, end-user, and region.

 By Class

• Adhesive coated
• Self Adhesive

By Type

• Polyethylene
• Polypropylene 
• Polyethylene Terephthalate

By End-User 

• Building and constructions
• Electronics
• Transportation

 By Region

•  North America 
•  Europe 
•  Asia Pacific 
•  Latin America 
• Middle East & Africa