ID: MRFR/CnM/3844-HCR | February 2021 | Region: Global | 137 pages
The global industrial film market is expected to witness a significant growth of USD 62.15 billion by 2027 with registering a 4% CAGR during the forecast period, 2019–2027.
Industrial films are plastic films made from fabrication of polymeric materials. These films are generally used as packaging films by various end-users such as transportation, construction, industrial packaging, agriculture, medical, and others. They help in increasing transportation efficiency, increases shelf life of perishable goods, and prevents product damage, wastage, and deterioration of products, which are some of the major advantages offer by industrial films to various end-use industries.
The major factor fueling the market growth is the widespread application of the product in end-use industries, especially in Asia-Pacific, coupled with rapid industrialization and urbanization globally. Moreover, the rising demand for these films in agriculture sector, mainly as silage films and stretch films, is expected to boost market growth. Moreover, the growing awareness regarding the use of bio-based films is further expected to add to the market growth during the forecast period.
However, volatile raw material prices and recycling of non-biodegradeble plastics is major challenge that is expected to hinder the market growth. Additionally, the governmental and environmental regulations refraining the use of plastics is another factor expected to hinder the market growth during the forecast period.
Industrial film Market Share, by Material Type, 2019 (%)
Source: MRFR Analysis
The global industrial film market report has been segmented based on material type, end-use industry, and region.
Based on material type, the global industrial film market has been segmented into linear low-density polyethylene (LLDPE), low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), polyamide, and others.
Based on end use, the global industrial film market has been sorted into transportation, construction, industrial packaging, agriculture, medical, and others.
The global Industrial film market has been categorized into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia-Pacific contributed the most in the industrial film market in 2019 and is anticipated to be the fastest-growing regional market in terms of both value and volume during the forecast period. This growth in the region is mainly attributed to the rapid industrialization supported by government policies and initiatives. Moreover, growing agriculture sector is another factor expected to fuel the market growth during the forecast period. For instance, according to IBEF, in December 2018, the agriculture export policy aims to increase India’s agricultural exports to USD 60 billion by 2025.
North America held the second-largest share in the industrial film market in 2019, led by the US. This growth in the region is attributed to the region having the largest pharmaceutical industry, which consumes industrial films at a significant rate for packaging of drugs used for human and animal medicine. For instance, in 2019, the pharmaceutical export in the US was valued at USD 40.5 million.
Europe has a prominent share in the industrial film market. It is owing to its extensive use of industrial film in the transportation sector for safer delivery of goods. Additionally, the stringent governmental & environmental regulation, limiting the used of non-biodegradable plastics, and compelling the manufacturers to adopt bio-based polymers in industrial films is expected to create a lucrative opportunity for the bio-based industrial film manufacturers during the forecast period.
Latin America is expected to witness positive growth in the global Industrial film market during the forecast period, this growth is attributed to the growing agriculture sector of the region, using these films in applications such as greenhouse, mulch films, silage and stretch films, silage sheets, and drip irrigation pipes.
The Middle East & Africa has been picking up pace in its contribution towards the industrial film market because of increasing construction activities and growing transportation sector in the region.
The prominent players in the global industrial film markets are TOYOBO Co., Ltd (Japan), DuPont de Nemours, Inc. (US), TEKRA (US), MURAPLAST d.o.o. (Croatia), Transcendia (US), Mondi (Austria), Mitsui Chemicals Tohcello.Inc. (Japan), HiFi Industrial Film Limited (UK), Bogucki Folie (Lithuania), FUJIFILM Corporation (Japan), UNITIKA Ltd (Japan), pely-plastic GmbH & Co. (Germany), LINTEC EUROPE (UK) Limited (UK), Supreme mill stores (India), and TAGHLEEF INDUSTRIES GROUP (Dubai).
|Market Size||USD 62.15 Billion (2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Material Type, End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||TOYOBO Co., Ltd (Japan), DuPont de Nemours, Inc. (US), TEKRA (US), MURAPLAST d.o.o. (Croatia), Transcendia (US), Mondi (Austria), Mitsui Chemicals Tohcello.Inc. (Japan), HiFi Industrial Film Limited (UK), Bogucki Folie (Lithuania), FUJIFILM Corporation (Japan), UNITIKA Ltd (Japan), pely-plastic GmbH & Co. (Germany), LINTEC EUROPE (UK) Limited (UK), Supreme mill stores (India), and TAGHLEEF INDUSTRIES GROUP (Dubai)|
|Key Market Opportunities||
|Key Market Drivers||