" Specialty and High Performance Films Market Restraint Analysis & Company Forecast by 2024"
10 Dec 2018 - The global SpecialtyAnd High Performance Films Market size was USD 32.61Billion in 2015 and is expected to reach USD 57.26 billion by 2024. Increasingdemand for high tensile and durable packaging materials coupled with propertiessuch as chemical resistant is expected to drive the market growth over the forecastperiod. These films are majorly used in packaging market for food andbeverages, construction industries and decorative interiors. Thus increasingdemand for these markets is expected to positively affect the market growth ofperformance 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.
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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 playersin the market include Dow Chemicals, Bemis Company Inc. Evonik Industries, andHoneywell. Other industry participants are DuPont, Bayer, 3M, Sealed AirCorporation and Eastman. The market is highly fragmented with the presence ofmany manufacturers competing globally. Overall profitability is expected to below owing to high industry rivalry Global vendors compete by application developmentand product differentiation.
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