Film Formers Market Size & Growth Report to 2030

The global film formers market size was valued at over USD 1.5 billion in 2022 and anticipated to register a significant CAGR of around 5% during the forecast period from 2023 to 2030. The market is driven by factors such as increasing demand from end-use industries, growth in construction and infrastructure development, rising awareness of sustainable solutions, advancements in technology and formulations, shifting consumer preferences, regulatory standards, economic growth, and ongoing research and development. These factors contribute to the demand for film formers in applications such as paints and coatings, adhesives, cosmetics, pharmaceuticals, and more. The market is influenced by the need for high-performance, environmentally friendly, and compliant film formers that cater to diverse industry requirements. Understanding these driving factors is crucial for market players to capitalize on opportunities and meet evolving customer needs.

Market Snapshot:

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Market Drivers:

Growing Demand from End-Use Industries: Film formers find applications in various industries, including paints and coatings, adhesives, cosmetics and personal care, pharmaceuticals, and more. The growth and demand in these industries directly contribute to the demand for film formers.

Increasing Construction and Infrastructure Development: The construction industry plays a significant role in the demand for film formers, particularly in architectural coatings and sealants. As construction and infrastructure projects increase globally, the demand for film formers rises.

Rising Awareness about Sustainable and Environmentally Friendly Solutions: There is an increasing emphasis on sustainability and environmentally friendly products across industries. Film formers that offer low VOC (Volatile Organic Compound) content, water-based formulations, and other eco-friendly properties align with these trends, driving their adoption.

Advancements in Technology and Formulations: Continuous advancements in film former technology and formulations contribute to the market growth. Improved film properties, enhanced performance characteristics, and new applications drive the demand for advanced film formers.

Shifting Consumer Preferences and Lifestyle Trends: Consumer preferences for products with superior aesthetics, durability, and performance drive the demand for film formers in industries like cosmetics and personal care. Lifestyle trends, such as increased focus on appearance and self-care, also contribute to the growth of the film formers market.

Regulatory Standards and Compliance: Stringent regulatory standards regarding product safety, performance, and environmental impact drive the adoption of compliant film formers. Manufacturers and end-users seek film formers that meet regulatory requirements, ensuring product quality and compliance.

Economic Growth and Urbanization: Economic growth, industrialization, and urbanization lead to increased construction activities, infrastructure development, and industrial production. These factors drive the demand for film formers across multiple industries.

Research and Development: Ongoing research and development efforts in film former technology and formulations result in the introduction of innovative products with enhanced properties. Continued investments in R&D contribute to market growth and create opportunities for new applications.

Market Insights:

Market Analysis by Type:

The global film former market is bifurcated into type, application, and geography. on the basis of type, the market is further segmented into acrylic film formers, vinyl film formers, polyurethane film formers, and others. the acrylic film formers segment dominated the global market in the benchmark year and anticipated to grow at the same trend over the forecast period. Acrylic film formers have a broad range of applications across various industries. They are extensively used in paints and coatings, adhesives, cosmetics, and pharmaceuticals. The versatility of acrylic film formers and their ability to provide desirable properties like adhesion, durability, and weather resistance contribute to their dominance in the market.

Acrylic film formers offer excellent film-forming properties, including good adhesion, flexibility, and weather resistance. They can be tailored to meet specific application requirements and provide desirable properties such as gloss, hardness, and chemical resistance. The wide range of performance characteristics and versatility of acrylic film formers make them attractive for various applications, contributing to their dominant market position. Furthermore, the acrylic film formers are widely available and competitively priced compared to some other film former types. This accessibility and cost-effectiveness make acrylic film formers a preferred choice for many formulators and end-users, further strengthening their dominant position in the market.

Acrylic Film Formers: Acrylic film formers are widely used in various industries, including paints and coatings, adhesives, cosmetics, and pharmaceuticals. They offer excellent film-forming properties, durability, and weather resistance. Acrylic film formers provide good adhesion, gloss, and flexibility, making them versatile and suitable for diverse applications.

Vinyl Film Formers: Vinyl film formers are known for their excellent adhesion and flexibility. They are commonly used in coatings, adhesives, and cosmetic formulations. Vinyl film formers provide good water resistance and mechanical properties, making them suitable for applications where durability is important.

Polyurethane Film Formers: Polyurethane film formers offer exceptional film-forming properties, including high flexibility, abrasion resistance, and chemical resistance. They are commonly used in coatings, adhesives, sealants, and cosmetic formulations. Polyurethane film formers provide excellent adhesion and durability, making them ideal for demanding applications.

Others: The “others” category includes additional film former types that may have specific compositions or niche applications. Examples could include cellulose derivatives, epoxy-based film formers, or silicone-based film formers. These types cater to specialized requirements in specific industries.

Market Analysis by Type:

On the basis of application, the film formers market is bifurcated into paints and coatings, adhesives, cosmetics and personal care products, pharmaceuticals, and others. The paints and coatings have been estimated as the dominant application segment in the global market. The paints and coatings industry represents a substantial portion of the overall Film Formers market. The demand for film formers in this segment is driven by factors such as architectural coatings, industrial coatings, automotive coatings, and other applications. Furthermore, the film formers play a critical role in the formulation of paints and coatings, contributing to their adhesion, durability, and protective properties. Film formers are used in various sub-segments, including architectural coatings for residential and commercial buildings, industrial coatings for corrosion protection, and automotive coatings for aesthetics and performance.

Furthermore, the construction industry plays a significant role in the demand for paints and coatings. With increasing construction activities worldwide, including residential, commercial, and infrastructure projects, the demand for film formers in this segment remains high. Moreover, the paints and coatings are highly visible and contribute to the aesthetics and performance of surfaces. Film formers provide the necessary film-forming properties to achieve desired characteristics such as adhesion, gloss, flexibility, and chemical resistance. The preference for high-quality finishes and long-lasting performance drives the demand for film formers in paints and coatings.

Paints and Coatings: Film formers play a crucial role in the formulation of paints and coatings. They provide adhesion, durability, and protective properties to the coating film. Film formers are used in architectural coatings, industrial coatings, automotive coatings, and other applications to enhance aesthetics, improve performance, and protect the substrate.

Adhesives: Film formers are essential components in adhesive formulations. They contribute to the bonding strength, cohesion, and flexibility of the adhesive film. Film formers are used in various types of adhesives, including pressure-sensitive adhesives, construction adhesives, and industrial adhesives.

Cosmetics and Personal Care Products: Film formers find application in cosmetics and personal care products such as skincare, hair care, and makeup formulations. They contribute to the film-forming properties of products like creams, lotions, gels, and mascaras, providing texture, film strength, and water resistance.

Pharmaceuticals: Film formers are used in the pharmaceutical industry for various applications. They are used to create coatings on tablets or capsules, providing controlled release, masking unpleasant tastes, and protecting the active ingredients. Film formers ensure the stability and functionality of pharmaceutical products.

Others: The “others” category includes additional application segments where film formers may be used. This can include specialty applications such as food packaging coatings, electronic device coatings, textile finishes, and agricultural films, among others.

The film formers market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Type:

• Acrylic Film Formers
• Vinyl Film Formers
• Polyurethane Film Formers
• Others

By Application:

• Paints and Coatings
• Adhesives
• Cosmetics and Personal Care Products
• Pharmaceuticals
• Others

By Region:

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

Regional Analysis:

On the basis of region, the Asia Pacific dominated the global film former market in 2022 and expected to maintain its dominance over the forecast period. The Asia Pacific region has experienced rapid economic growth, resulting in increased industrialization, urbanization, and construction activities. This economic growth drives the demand for paints and coatings, adhesives, cosmetics, and other products that utilize film formers. Furthermore, the construction industry in the Asia Pacific region is thriving, with significant infrastructure development, residential and commercial building projects, and investment in urban development. The demand for film formers in architectural coatings, construction adhesives, and other construction-related applications drives the dominance of the region.

Competitive Assessment

Some of the major market players operating in the global film formers market are Dow Chemical Company, Arkema Group, BASF SE, Ashland Global Holdings Inc., and Covestro AG. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Dow Chemical Company
• Arkema Group
• BASF SE
• Ashland Global Holdings Inc.
• Covestro AG
• Eastman Chemical Company
• Wacker Chemie AG
• DIC Corporation
• Croda International Plc
• Evonik Industries AG

Key Questions Answered by Film Formers Market Report

• Global film formers market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• Film formers submarket forecasts from 2023-2030 covering the market by type, application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level film formers markets from 2023-2030
• Competitive Landscape and market positioning of the top 10 players operating in the market