Sales of Surface Protection Films to Exceed US$ 2 Bn by 2029
Predominantly set by the application in automotive and construction industries, the demand for surface protection films is on a notable rise in the consumer electronics industry. Estimated for a healthy growth rate over the forecast period (2019 – 2027), the global market for surface protection films is projected to surpass revenues worth US$ 2.2 Bn by 2029 end. Wet bond lamination will remain the preferred technology among manufacturers, followed by solventless lamination and hot melt seal coating.
PE and PET Collectively Account for Over 50% Share
Generating revenues worth of over half a billion, polyethylene (PE) continues to be in demand in the surface protection films market. Polyethylene terephthalate (PET) has also been witnessing increasing preference, especially in developing regional markets. More than 50% of surface protection films that are sold are either made from PE or PET. The study indicates that European manufacturers and end users will continue to prefer PE-based surface protection films, whereas those in the Asia Pacific (APAC) market would increasingly opt for PET-based surface protection films.
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China and US Capturing Limelight
Western Europe remains the leading market for surface protection film sales with a third of the global market value. The U.K. is set to outpace France in terms of revenue generation, whereas Spain is poised for significant growth over the following years. However, the near future will observe lucrative prospects developing in the North American and Asian markets. The U.S. and China are particularly projected to showcase spectacular growth potential on the back of strong automotive production outlook and the expansion of consumer electronics industry, respectively
Modern Display Technology Developing Lucrative Revenue Pocket
Besides being the most viable temporary packaging solution for an extensive range of consumer electronics and medical devices, surface protection films have been witnessing billowing traction in the modern display space. The remarkable expanse of flat panel display market and frequent innovations in modern display technology will collectively fuel the sales of surface protection films in the near future. Manufacturers are particularly focusing on innovations that cater to the touch screen display category.
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How Growth will Unfold
Although the global sales of surface protection films remain concentrated in the construction & interior sector, the study prompts notable demand growth underpinned by the consumer electronics industry. Automotive industry, though has been among the key traditional end users of surface protection films, a consistent decline in the U.S. automotive market is most likely to change the dynamics in the near future. Industrial sector also reflects a worthwhile opportunity for market players, whereas healthcare industry will see gradual development in its application potential over the following years
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