Specialty and high performance films market is anticipated to
reach USD 57.26 billion by 2024, according to a new report by Grand View
Research, Inc. The demand for the product is primarily driven by robust and
high tensile packaging application. Increasing demand for the product in
premium food and cosmetics products owing to superior barrier properties is
likely to augment growth over the projected period.
Superior flexibility, chemical inertness and
light weight offered by the product as compared to its counterparts including
metal and glass packaging are expected to provide a competitive advantage in
packaging application over the next eight years.
Growing demand for the product in automotive
applications to protect sunroofs, rear and side windows, windshields and to
mask dashboards is expected to drive growth. In addition, the product is used
as an insulating material for semiconductors in the electronics industry. High
thermal resistivity of product is expected to propel its demand in electronic
application over the next few years.
The industry is characterized by the presence of
numerous players with wide product portfolio. The manufacturers are
consolidating in order to reduce operational cost and increase profit margins.
Rapid industrialization, rising consumer demand and low labor cost in Asia
Pacific is anticipated to compel manufacturers to establish their production
plants near close vicinity. However, volatile raw material prices and high
competition is expected to pose a challenge for the industry players.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/specialty-and-high-performance-films-market
Further key findings from the report
suggest:
·
Asia Pacific accounted for a significant share
of the specialty and high-performance films market in 2015 and is expected to
grow at a CAGR of over 8%, from 2016 to 2024. Changing consumer lifestyle
coupled with rising disposable income in the region is likely to increase
demand for packaged food products, which in turn is anticipated to have a
positive impact on growth. Robust electrical &electronics manufacturing
industry coupled with growing automotive sector in emerging economies including
India, Indonesia and Vietnam is expected to drive demand.
·
Barrier films dominated the market in 2015,
accounting over 60% of the total demand and is this trend is expected to
continue over the projected period. Rising use of these films in meat
packaging, low-oxygen case-ready technologies, and vacuum packaging is
anticipated to propel market growth over the next eight years.
·
Polyester based specialty and high-performance
films demand was over 6,000 kilo tons in 2015 and are likely to grow at a CAGR
of over 6.0% from 2016 to 2024. Increasing use of these films in food packaging
and electronics industry are anticipated to be key drivers for the industry
growth.
·
Packaging was the largest application segment
for specialty and high-performance films accounting over 60% of the total
market in 2015. Growing demand for the product in packaging frozen food,
confectionary items, and bakery products is expected to propel growth.
Furthermore, rising application scope of the products in agricultural and
industrial applications is likely to drive growth over the forecast period.
·
Key players in the industry include The Dow
Chemical Company, E. I. du Pont de Nemours, Bayer AG, Bemis Company Inc.,
Evonik Industries, Honeywell International, Inc., Eastman Chemical Company,
Sealed Air Corporation and The 3M Company.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/specialty-bio-based-and-water-soluble-polymers
Grand View Research has segmented the specialty
and high-performance film market on the basis of product, application, end-use
and region:
Specialty And High Performance Film
Market Product Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)
·
Polyester
·
Nylon
·
Fluoropolymer
·
Polycarbonate
·
Others
Specialty And High Performance Film
Market Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 -
2024)
·
Barrier
·
Safety and security
·
Decorative
·
Microporous
·
Others
Specialty And High Performance Film
Market End-Use Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)
·
Packaging
·
Personal care products
·
Electrical & electronic
·
Automobiles
·
Construction
·
Others
Specialty And High Performance Film
Market Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)
·
North America
·
U.S.
·
Canada
·
Europe
·
Germany
·
UK
·
Asia Pacific
·
China
·
Japan
·
India
·
Latin America
·
Brazil
·
Middle East and Africa
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