Specialty and High-Performance Film Market: Shares, Strategies, and Forecasts 2017 – 2025
Market Scenario
The global demand for specialty and high-performance films is mainly driven by robust as well as high tensile packaging application. The high demand for these films in premium food and cosmetics products due to their superior barrier properties is predicted to promote market growth over the forecast period.
These specialty and thin performance films possess superior flexibility, and chemical inertness. Also, the light weight provided by the product as compared to its counterparts that includes metal and glass packaging are projected to offer competitive advantage in packaging application over the forecast years.
Rising demand for the product in automotive applications in order to protect sunroofs, rear as well as side windows, windshields and to mask dashboards is anticipated to fuel growth. Additionally, the product is utilized in the electronics industry as an insulating material for semiconductors. The presence of high thermal resistivity of product is projected to fuel its demand in electronic application over the next few years.
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Key Players:
The major players in the industry include:
Bemis Company Inc.
The Dow Chemical Company
I. du Pont de Nemours
Sealed Air Corporation
Bayer AG
Evonik Industries
Eastman Chemical Company
Honeywell International, Inc.
The 3M Company
The industry is characterized by the presence of various players with broad product portfolio. In order to limit operational cost and raise profit margins, the manufacturers are consolidating. In the Asia-Pacific region, factors such as rapid industrialization, high consumer demand and low labor cost is estimated to force manufacturers to establish their production plants in close vicinity. However, volatile raw material prices as well as high competition are projected to present challenge for the industry players.
The Asia-Pacific region is expected to command a major share of the specialty and high-performance films market and is projected to grow at a moderate growth rate during the forecast period. Transforming consumer lifestyle along with high disposable income in this region is estimated to raise demand for packaged food products, which in turn is expected to cast a positive impact on growth. In the emerging countries such as India, Indonesia and Vietnam, the healthy electrical &electronics manufacturing industry along with rising automotive sector in is expected to fuel the demand.
The barrier films market segment commanded the majority of market share, and this trend is estimated to continue over the forecast period. The increasing usage of these films in vacuum packaging, meat packaging as well as low-oxygen case-ready technologies is likely to drive the market growth over the future years.
Presently, the demand for polyester based specialty and high-performance films was over 6,000 kilo tons and it is projected to grow at a moderate rate during the forecast period. The rising usage of these films in food packaging as well as electronics industry are expected to be the major driving factor for the industry growth.
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