Pune India, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the surface protection services market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the surface protection services market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, application, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global surface protection services market are Chargeurs S.A., Veevaa Enterprises, Nitto Denko Cor, Bubble Pacage Private Limite, Tredegar Corporation, Polifilm GmbH, DUNMORE Corporation, Bischof + Klein SE & Co. KG., Surface Guard, Inc., Alvest SAS, TEKRA, LLC, Toray Advanced Film Co., Ltd, ECOPLAST LTD, Grafix Plastics., SUN PACKAGING, Aristo Flexi Pack., Lamin-x, Pelloplast Oy, MacDermid Autotype Ltd. among other. To achieve a substantial market share in the worldwide surface protection services market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Surface protection services market growth is expected to be driven by high growth in the construction industry worldwide. The market demand for surface protection services is expected to be driven by many factors, such as enhanced aesthetic appearance, an increase in both non-residential and residential construction, maintenance, and remodelling activities, and the high durability of these products. In the APEJ and MEA regions, high investment levels in the upstream and downstream sectors are expected to benefit the oil & gas industry directly. The oil and gas industry requires a vast array of surface protection services, such as rubber linings, acid-proof linings, and corrosion protective coatings, for a wide range of equipment, including pipelines, tanks, and process vessels. Moreover, the development of emerging markets and the increase of strategic collaborations will also act as market drivers and provide further opportunities to drive the surface protection services market. It is projected that the construction and interiors and electrical & electronics industries will capture around ¾ of the value share of surface protection services, respectively. A growing preference for protective packaging has led to the increase in popularity of various types of surface protection services, including transparent, translucent, and tinted films. As well, surface protection services are being increasingly adopted since they offer chemical, UV, and abrasion resistance to a wide range of industrial and non-industrial applications, boosting the market growth.
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Scope of Surface Protection Services Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product Type, Application, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Chargeurs S.A., Veevaa Enterprises, Nitto Denko Cor, Bubble Pacage Private Limite, Tredegar Corporation, Polifilm GmbH, DUNMORE Corporation, Bischof + Klein SE & Co. KG., Surface Guard, Inc., Alvest SAS, TEKRA, LLC, Toray Advanced Film Co., Ltd, ECOPLAST LTD, Grafix Plastics., SUN PACKAGING, Aristo Flexi Pack., Lamin-x, Pelloplast Oy, MacDermid Autotype Ltd. among other. |
Segmentation Analysis
Corrosion protective coating systems are expected to be the fastest-growing segment in 2022.
The product type segment is Corrosion Protective Rubber Lining, Corrosion Protective Coating Systems, Acid Proof Lining. The corrosion protective coating systems segment is expected to witness the highest growth rate during the forecast period. In a variety of severe environments, including mines, steel mills, chemical and power plants, rubber linings can endure. They help to protect against corrosive agents such mineral slurry, acids, salt water, corrosive liquids, and fumes.
Process vessels are expected to be the fastest-growing segment in 2022.
The application segment is Process Vessels, Equipment & Rigs, Collection Basins & Tanks, Pipelines. The process vessels segment is expected to witness the highest growth rate during the forecast period. A tank or container that is built, equipped with controls, and equipped with accessories to carry out a subprocess as a part of a larger process is called a process vessel. The building material, accessories, and controls for the process vessel are all dependent on the use it will get.
Construction & interiors are expected to be the fastest-growing segment in 2022.
The end-user segment is electronics, construction & interiors, healthcare, automotive, and others. The construction & interiors segment is expected to witness the highest growth rate during the forecast period. Global surface protection services are expected to grow over the forecast period due to increasing building activity and urbanization in developing nations. Over the forecast period, the automotive industry is also expected to drive growth in the global surface protection services market due to increasing automobile demand among customers all over the world.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the surface protection services market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. The region is expected to experience rapid urbanization and industrialization over the next few years, contributing to the growth of the worldwide surface protection services market. Additionally, this region's growing middle-class population and increasing consumer spending power are positively influencing the surface protection services market worldwide.
Country Analysis
- Germany
Germany's surface protection services market size was valued at USD 0.86 billion in 2022 and is expected to reach USD 1.35 billion by 2030, at a CAGR of 5.8% from 2023 to 2030.
Due to the high number of surface protection service providers and the high number of construction projects in the German region, the region dominates the market.
- China
China’s surface protection services market size was valued at USD 1.16 billion in 2022 and is expected to reach USD 1.8 billion by 2030, at a CAGR of 6.1% from 2023 to 2030.
Due to the rising demand for surface protection services on flat screen panels and other electronic devices, the surface protection services market is expected to grow over the forecast period.
- India
India's surface protection services market size was valued at USD 0.89 billion in 2022 and is expected to reach USD 1.4 billion by 2030, at a CAGR of 6% from 2023 to 2030
With the increase in oil supply, demand for surface protection services, such as rubber lining, acid-proof linings, and corrosion-resistant coating, is increasing, which is boosting the market growth in the country.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing demand for various end-user applications, propelling the growth of the market across the countries.
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