Protective Films Market Assessment, By Type [Low-density Polyethylene, Polyvinyl Chloride, Polypropylene, Polyolefin, Polyethylene, Polyethylene Terephthalate, Paper, Others], By Product Type [Surface Protection Film, Self-adhesive Protection Film], By En

Protective Films Market Assessment, By Type [Low-density Polyethylene, Polyvinyl Chloride, Polypropylene, Polyolefin, Polyethylene, Polyethylene Terephthalate, Paper, Others], By Product Type [Surface Protection Film, Self-adhesive Protection Film], By End-use Industry [Building & Construction, Transport, Electrical & Electronics, Healthcare, Furniture, Others], By Region, Opportunities and Forecast, 2016-2030F

Global protective films market size was valued at USD 15.36 billion in 2022, which is expected to grow to USD 24.1 billion in 2030, with a CAGR of 5.8% during the forecast period between 2023 and 2030. The rising development projects for new building & construction activities and the increasing demand for protective films to ensure superior protection, against road rash debris, chemical resistance, and bugs, are prominent factors accelerating the market growth.

The growth of the building & construction activities is attributed to factors such as increasing purchasing power of people, economic growth in various countries, and increasing investments in infrastructure development projects. In addition, the rising innovations in automation technology to ensure production of bulk transport product and new ventures for the development of new transport manufacturing facilities are key trends favoring the transport sector's growth at the global level. Therefore, the expansion of industries such as building & construction and transport are accelerating the demand for protective films to ensure shielding against humidity and dirt. It in turn is boosting the market growth.

Rapid Pace of Building & Construction Activities is Driving the Market Growth

Protective films such as surface protection film and self-adhesive protection film have beneficial properties such as UV Resistance, protection against hot or cold temperatures, shielding against scratches & abrasions, and others. Thus, due to such properties, the adoption of protective films is increasing in building & construction projects to ensure efficient chemical resistance. The rising government investments in infrastructure development projects and increasing demand for larger commercial space are some of the prominent aspects propelling the growth of building & construction activities at the global level.

For instance, according to the Construction Products Association, in 2022, global construction activities registered a growth of 2.0% as compared to 2021. As a result, the rapid pace of building & construction activities is spurring the demand for protective films to ensure superior resistance against moisture, which is propelling the market growth at the global level.

Booming Transport Industry to Foster the Demand

Transport products such as passenger vehicles, aircraft, cargo vessels, and others are highly prone to environmental conditions, which frequently result in abrasion. As a result, the deployment of protective films, including polyvinyl chloride, and polypropylene is increasing the transport sector to maintain excellent resistance against wear & tear. The development of new transport manufacturing facilities and increasing innovations in the upgraded transport vehicle models are several major determinants fostering the transport industry growth.

For instance, according to Airbus, a global aircraft manufacturer, the production of A330 aircraft reached 3 per month in 2022. Moreover, Airbus is focusing on increasing the production of A330 aircraft by 4 in 2024. Henceforth, the growth of the transport industry is boosting the demand for protective films to protect vehicles from various environmental elements, which, in turn, is accelerating the market size growth.

Technological Innovations in Protective Films will Augment the Market Growth

The prominent market players dealing in the manufacturing of protective film products are leveraging their technological potential to develop a new range of protective films to maintain superior UV resistance. Thus, these recent technological innovations are fostering the launch of a new range of protective films with advanced features, which will create a potential growth opportunity for the market in the coming years.

For instance, in February 2023, IVIOS, a global player in the protective films industry, launched KAIZER Z12, a range of paint protective films. The product has advanced features, including enhanced elasticity, and upgraded protective function. Thus, the rising advancements in the manufacturing of protective films ensure superior chemical resistance, creating a lucrative opportunity for market growth.

Impact of COVID-19

The COVID-19 restrictions in 2020 significantly accelerated the demand for personal protective equipment, plastic face shields, and others. As a result, the adoption of protective films increased in personal protective equipment and plastic face shields since the utilization of polyvinyl chloride protective films, and polypropylene protective films play a vital role in the protection of sensitive surfaces of plastics.

For instance, in March 2020, the National Health Service (NHS), United Kingdom procured 88.5 million gloves from Malaysia for the use of NHS healthcare staff to protect them against the coronavirus outbreak. Thus, the increase in the demand for personal protective equipment and plastic face shields during the COVID-19 outbreak accelerated the revenue expansion of the protective films market in 2020.

Impact of Russia-Ukraine War

Russia is among the leading exporters of crude oil, which is a vital material employed in the production of protective film materials such as polyvinyl chloride, polypropylene, and others. The Russia-Ukraine war impacted the supply of essential materials and boosted the prices of thermoset materials.

For instance, according to the World Bank (WB), in 2022, due to the Russia-Ukraine war, the price of crude oil soared by USD 100 per barrel, reaching its highest level since 2013. Thus, the increase in the crude oil price due to Russia's invasion of Ukraine posed a bottleneck for the production activities for protective films in the first half of 2022.

Key Players Landscape and Outlook

The leading market players in the global protective films market include 3M, Nitto Denko Corporation., Compagnie de Saint-Gobain S.A., DuPont., and others. The above-listed major players involved in the manufacturing of protective films are investing in strategies such as new product innovation, acquisitions, facility expansion, and others to increase their market share in the global protective films industry.

For instance, in July 2022, Avery Dennison Corporation., a global player in protective films introduced SupremeTM PPF Xtreme, the next generation of paint protection film in the Australian and New Zealand markets. The SupremeTM PPF Xtreme is ideal for automotive applications. The prime focus of the launch of a new range of paint protective films was to increase the protective film product offering in the market.