ID: MRFR/CnM/1412-HCR | February 2021 | Region: Global | 140 pages
The specialty films market value was stored at a final market valuation worth USD 25,757.8 million during the forecast period that ended in 2019. With the pandemic year of 2020 as the base for the ongoing forecast period of 2021-2028, the market operations expect a steep rise in the ongoing forecast period. The market size is expected to expand its size at a growth rate of 3.5% by the end of the period in 2028. At this growth rate, the market is estimated to reach a final market value worth USD 29,597.3 million as the forecast period ends.
There is a growing need for the development and availability of packaging solutions across a huge variety of industry verticals and this is one of the major trends that will drive the market towards major growth during the period.
COVID 19 Analysis
The pandemic was a new yet strange experience for all the businesses and their associated production and manufacturing units. The lockdown imposed by the government forced the people to sit at home and suspend delivery of the orders placed by the target audience. Hence, the specialty films market size also declined during the pandemic year of 2020.
However, as the restrictions are being lifted and the market delivery is coming back on track. This will positively impact the market operations during the forecast period of 2021-2028.
Most of the global market manufacturers are entering into partnerships with the globally functional packaging companies with a motive to provide the most effective range of specialty films that will help in the expansion of the market size during the forecast period of 2021-2028. Also, the production and manufacturing units are on the path of creating a reliable rapport and enhancing the global competitive degree that will push the market players to invest in the availability of qualitative products amongst the target audience.
Flexibility and the availability of dynamic resistance against gases like oxygen, and external elements like water and light are the major functions of the major that promise good growth during the forecast period of 2021-2028. High barrier films, as a part of the global market, are experiencing a surge as they are predominantly being used for packing commodities and hence, restore the market operations post the COVID-19 era.
The market is home to the advanced packaging films that are being recognized as a key commodity as they have a pivotal role to play when it comes to keeping the products intact and keeping them in the proper place before any customer gets their hands on the ordered products. In recent years, the demand for the market products and services has seen major development and international expansion which has pushed for a mass acceptance of the market applications, especially in the food and beverage industry. Similar trends are expected to follow during the current forecast period of 2021-2028, and hence, present the market players with growth opportunities and enhance their global visibility.
The specialty films market has been divided all across the globe based on the material, type of film, end-user industry, and region.
Based on the Material
The market has been divided all across the globe based on the material into polycarbonate material, polyolefin material, polyamide material, fluoropolymer material, polyester material, and many others.
Based on the Type of Film
The market has been divided all across the globe based on the type of film into protective film type, antimicrobial film type, microporous film type, decorative film type, barrier film type, and many others.
Based on the End-User Industry
The market has been divided all across the globe based on the end-user industry into personal care and cosmetics industry, electronics industry, food and beverage industry, aerospace industry, construction industry, automotive industry, packaging industry, and many others.
Based on the Region
The market has been divided in the global market based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The specialty films market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and Africa region. Being the fastest-growing region, the largest market share all across the globe is held by the Asia-Pacific region in 2017 owing to increasing demand for specialty films in the packaging industry coupled with the presence of highly populous countries like China and India. Increasing the use of these films as vapor barriers and moisture for the construction industry also drives the market demand to this region.
The second-largest market share in the global market is held by the North American region owing to the presence of various countries like the US, Canada, and Mexico. Increasing advancement in the packaging industry coupled with the increasing use of biodegradable packaging films drives the market demand to this region.
The third-largest market share in the global market is held by the European region owing to the increasing use of films in non-optical applications in the automotive industry, rear-view windows, windshields sunroofs, and others. The presence of well-established technologically advanced infrastructure is yet another contributing factor.
The Latin American region and the Middle East and African region hold the least market share due to the presence of low infrastructure in both these regions. Low per capita disposable income is another contributing factor that restricts the market growth in these regions.
The most prominent major key players in the specialty films market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the Specialty films market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the Specialty films all across the globe.
This specialty films market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the Specialty films market in the global market along with the factors that restrict its growth in the global market. The technical analysis during the forecasted period is mentioned. The impact of COVID 19 on the Specialty films market all across the globe is mentioned. The future growth rate in the Specialty films market during the forecasted period is estimated and mentioned.
Nationalized laboratories, raw material suppliers, research and development institutes, potential investors, traders and distributors of specialty films, and specialty films manufacturers.
|Market Size||2030: Significant Value|
|CAGR||2030: Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Film, Material, End-Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Saint-Gobain Performance Plastics (France), Madico Inc. (US), Berry Global Inc. (US), Bemis Company, Inc. (US), SABIC (Saudi Arabia), Solvay SA (Belgium), Toray Plastics Inc. (US), the Dow Chemical Company (US), Honeywell International Inc. (US), Covestro AG (Germany), Specialty Polyfilms Pvt. Ltd (India), Amcor Limited (Australia), Trico Specialty Films (US), and Tufpak, Inc. (US)|
|Key Market Opportunities||expanding population and increased consumption of packaged food products|
|Key Market Drivers||rising demand for specialty films in the packaging industry|
Frequently Asked Questions (FAQ) :
The specialty films market is expected to grow at a higher CAGR of 3.5% in the global market during the forecasted period.
Surging demand from marine safety & security industry and defense,
Asia Pacific holds the largest share in the global specialty films market followed by North America and Europe, respectively.
Madico Inc. (US), Saint-Gobain Performance Plastics (France), Berry Global Inc. (US), SABIC (Saudi Arabia), Bemis Company, Inc. (US), Solvay SA (Belgium), the Dow Chemical Company (US), Toray Plastics Inc. (US), Honeywell International Inc. (US), Specialty Polyfilms Pvt. Ltd (India), Covestro AG (Germany), Amcor Limited (Australia), Tufpak, Inc. (US), and Trico Specialty Films (US), are some of the leading players in the global specialty films market.
The specialty films market is expected to account for a higher market share value of USD 29,597.3 million.