Global "Specialty
And High Performance Films Market" 2024
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In this report, we
thoroughly examine and analyse the Global market for Specialty and high
performance films so that market participants can improve their business
strategy and ensure long-term success. This report provides players with useful
information and suggests result-based ideas to give them a competitive
advantage in the global Specialty and high performance films industry. It will
show how other players compete in the global Specialty and high performance
films Market and explain the strategies you use to differentiate yourself from
other participants.
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The global specialty and
high performance films market size was USD 32.61 Billion in 2015 and is
expected to reach USD 57.26 billion by 2024. Increasing demand for high tensile
and durable packaging materials coupled with properties such as chemical
resistant is expected to drive the market growth over the forecast period.
These films are majorly used in packaging market for food and beverages,
construction industries and decorative interiors. Thus increasing demand for
these markets is expected to positively affect the market growth of performance
films.
Growing need for
electronics and solar PV coupled with increasing applications is expected to
steer the market growth.These films are extensively used in semiconductors and
PV cells Technological innovation and advancements of material films are anticipated
to boost the market demand Specialty
& high-performance films are made of engineered and composite plastic
materials produced from different polymers including fluoropolymer,
polycarbonate and polyester and exhibit exceptional properties such as chemical
stability, resistance to heat, high barrier and tensile strength. The major
factor that pose a challenge to the market is expected to the fluctuating
prices of raw materials including naphtha and crude oil.
Growing environmental
concerns and increasing regulations on the use of plastics is expected to
restraint market growth over the next six years.Innovation and development of
reusable engineered plastics and increasing demand for biodegradable plastic
film is anticipated to generate future opportunities for the industry players.
On the basis of polymer type the global market has been segmented into nylon,
fluoropolymers, polycarbonate, polyesters, polypropylene, and polyethylene.
Polyester film is expected to have the largest share in the market owing to its
excellent flexible and thermal properties. Nylon and polycarbonate are expected
to be the fastest growing segments in the market. Polycarbonate is a
transparent film that can be easily thermoformed and molded. It also provides
excellent ink adhesion and is widely being used in graphic, blended and light
diffusing films.
Fluoropolymers are expected
to have low growth rate over the forecast period due to increasing regulations
for halo polymers by environmental protection agency and REACHGrowing demand
for bio based materials is anticipated to producenew dynamic product trends in
the future. On the basis of applications, the specialty and high performance
films has been segmented into Safety and security, Microporous, Barrier,
Decorative. Other niche applications include water soluble, Biodegradable, and
light control. Barrier is expected to constitute the highest market share owing
to increasing demand for these films in semiconductor insulators and solar PV
modules. Growing adoption of renewable forms of energy sources such as solar
panels to generate electricity is expected to be the driving factor for the
market growth in this segment.
Microporous and decorative
films are expected to witness high growth rate over the forecast period owing to
growing demand for food processing, interior decoration and long lasting
electronics lamination are expected to steer the demand of these films over the
forecast period. Increasing investments in research and development coupled
with growing adoption of biodegradable plastics is expected to form an
opportunity for the market growth in the future.
On the basis of end use
segment, the global market has been segmented into Automobile, Personal care
products, Packaging, Electrical & electronic, and Construction. Other
segments include shopping bags and Sportswear. Packaging industry has been the
largest end use segment accounting over 65% of the total market share in
2012.Growing demand for flexible packaging in consumer goods and food industry
coupled with consumer awareness for better hygiene products is anticipated to
steer the market demand of specialty films.
Electrical and electronic
industry is expected to witness significant growth rate owing to growing
investments in technical and new electronic devices for high and efficient
performance. The growing application of light and safety control films in
construction industry is expected to achieve anoptimistic outlook on high
performance films. Asia Pacific is expected to have the highest share in the global
market and is expected to continueits dominance in the next seven years.
Increasing manufacturing facilities of automotive industrycoupled with growing
electronics manufacturing bases is expected to steer the market growth in this
region. Favorable government regulations and presence of key raw material
manufacturers of specialty films can be attributed as one of the major factor
driving the market.Growing demand for processed and frozen food & beverages
in Europe and North America is anticipated to boost market demand for
high-performance films.
Key industry players in the
market include Dow Chemicals, Bemis Company Inc. Evonik Industries, and
Honeywell. Other industry participants are DuPont, Bayer, 3M, Sealed Air
Corporation and Eastman. The market is highly fragmented with the presence of
many manufacturers competing globally. Overall profitability is expected to be
low owing to high industry rivalry Global vendors compete by application
development and product differentiation.
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