Global Protective Films Market to Reach $18.3 Billion by 2026

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Jun 09, 2021, 10:35 ET

SAN FRANCISCO, June 9, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Protective Films - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: March 2021
Executive Engagements: 1003
Companies: 248 - Players covered include 3M Company; Arkema Group; Avery Dennison Corporation; Bischof + Klein SE & Co. KG; Bp Plastics Holding Bhd; Chargeurs SA; Compagnie De Saint-Gobain SA; Covertec Srl; DowDuPont, Inc.; Dunmore Corporation; DUTE Industries Group; Echoplast Ltd.; Echotape USA; Hitachi Chemical Co., Ltd.; Kao-Chia Plastic Co., Ltd.; Lamin-X Protective Films; Mactac Europe SA; MT Tapes s.r.o.; Nitto Denko Corporation; Panduit Corporation; Polifilm Group; Pregis LLC; Presto Tape; Surface Armor; Toray Industries, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Class (Adhesive-Coated, Self-Adhesive); Type (Polyethylene, Polyethylene Terephthalate, Polyvinyl Chloride, Other Types); End-Use (Building & Construction, Electronics, Transportation, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Protective Films Market to Reach $18.3 Billion by 2026

Protective films, used for protecting surfaces against damage, are witnessing increased demand from a variety of end-user industries including electronics, automotive, aerospace, and building & construction among others. Demand is on the rise, owing to growing focus on product protection. Another major market growth driver has been the continuous technology advancement. Manufacturers are striving to create sustainable products with least environmental impact. Steady growth opportunities in the building and construction industry is attributed to extensive use of protective films for protecting window glasses from UV rays and scratches. Increasing prominence of eCommerce is creating strong demand for the films in protective and secondary packaging for goods. Electronics consumption is also increasing at a steady rate all across the world, which is also a key growth promoting factor for the market. Vehicle demand is increasingly worldwide due to industrialization. The films are used for paint protection and for protecting leathers, carpets and dashboards from damage. Another area of immense opportunity, increasing solar energy production creates growth prospects for films in PV modules. Films protect the modules exposed to stress factors such as UV radiations. Solar cells are covered with polymeric films where they offer protection against mechanical stress and environmental corrosion.

Amid the COVID-19 crisis, the global market for Protective Films estimated at US$13.1 Billion in the year 2020, is projected to reach a revised size of US$18.3 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Adhesive-Coated, one of the segments analyzed in the report, is projected to grow at a 6.4% CAGR to reach US$11.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Self-Adhesive segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 45% share of the global Protective Films market. The adhesive coated protective films are the most common protective films used in a variety of applications. The films are compatible with a variety of substrates including metals, plastics and glass. They are also easy to manufacture. Growth of the self-adhesive protective film market is attributed to several applications such in building and construction, steel, automotive, glass, electronics, and plastics. Ever expanding construction industry is expected to augment the production of self-adhesive protective films as they are used for carpet and floor protection, laminate protection, window security films, and building site protection. Self-adhesive protective films are also used in several other end-use industries to safeguard their products from damage due to abrasion, weathering, and UV rays.

The U.S. Market is Estimated at $3 Billion in 2021, While China is Forecast to Reach $4.5 Billion by 2026

The Protective Films market in the U.S. is estimated at US$3 Billion in the year 2021. The country currently accounts for a 22.51% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$4.5 Billion in the year 2026 trailing a CAGR of 7.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$4.9 Billion by the end of the analysis period. Asia-Pacific and China represent the leading regional markets for protective films, globally. In China, demand for protective films is growing especially from the country's building and construction industry. In Southeast Asian countries such as Malaysia, Thailand and Indonesia, recovering automotive sector is anticipated to create demand opportunities for protective films over the coming years. More

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