According to the latest report by IMARC Group, title “Specialty Films Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global specialty films market size reached US$ 36.89 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 52.5 Billion by 2027, exhibiting a CAGR of 5.80% during 2022-2027.
Specialty Films Industry Outlook:
Specialty films are high-performance polymers (HPP) that are flexible, extensible, and made using various resins, such as ethylene vinyl alcohol (EVOH), polyvinylidene chloride, polyesters, nylons, and fluoropolymers. They are used for conduction, insulation, and protection of items from external contamination as they offer better flex crack resistance, heat-celling, superior adhesion, and high variants.
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Market Trends:
The global specialty films market is primarily driven by the surging adoption of specialty films across various industries, such as construction, packaging, electronics, personal care, and transportation, due to the rising demand for heat-resistant packaging solutions. Moreover, the increasing use of biaxially orientated polypropylene (BOPP) as a raw material to manufacture flexible packaging films is positively influencing the market growth.
Additionally, governments of numerous countries are taking favorable initiatives to promote the use of biodegradable packaging solutions due to rising environmental concerns. Besides this, biodegradable packaging helps reduce petroleum consumption, greenhouse gas (GHG) emissions, and waste generation, which is propelling the market growth.
Furthermore, the rising product applications in the food and beverages (F&B) industry for storing and protecting various fast-moving consumer goods (FMCG) from heat, moisture, contamination, and ultraviolet (UV) radiations, while extending shelf life and preserving the nutritional profile has catalyzed the market growth. Other factors, including rising investments in research and development (R&D) activities, strategic collaborations among key players, and increasing consumer awareness about healthier lifestyles, are also anticipated to drive the market further.
| Specialty Films Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 36.89 Billion |
| Market forecast in 2027 | US$ 52.5 Billion |
| Growth Rate | CAGR of 5.80% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Resin, Function, End Use Industry and Region |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Resin:
- Polyester
- Nylon
- Polyacrylamide
- Fluoropolymer
- Polyimide
- Polyolefin
- Others
Breakup by Function:
- Barrier
- Conduction and Insulation
- Microporous
- Safety and Security
- Others
Breakup by End Use Industry:
- Packaging
- Personal Care
- Electrical and Electronics
- Transportation
- Construction
- Medical
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are 3M Company, Avery Dennison Corporation, Covestro AG, DuPont de Nemours Inc., Evonik Industries AG, Honeywell International Inc., Inteplast Group Corporation, Kaneka Corporation, Mondi plc, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Toray Industries Inc. and Ube Industries Ltd.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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