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.
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The key driving factors responsible for the growth of Specialty and
High Performance Films market :
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.
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