Specialty Films Market – Market Overview
Specialty Films are known for their high tensile strength and acts as a protective shield which is developing its usage in various industries. These films possesses various properties which is driving the usage in various applications. Overall application scope of specialty films covers applications in industries such as packaging, automotive, electronics & electronic, construction, food & beverages, personal care and others. As per our analysis, the future of the specialty films seems promising with tremendous opportunities in industries such as packaging, automotive, construction, and electrical & electronic. Similarly, growth in this market is highly credible to growing need for packaging solution linked with innovative packaging, demand for packaged films driven by lifestyle changes, and growing need of bio based polymers. In addition to this, consistent advancement in the packaging solutions specifically in the marine, electronics and electrical, food & beverages and pharmaceutical expected to offer lucrative growth opportunities over the assessment period. Nevertheless, trend for flexible packaging also projected to drive the global demand for specialty film.
Asia Pacific considered as the key region for the Specialty Films Market, and is also acquired largest market share in 2017. It has emerged as the leading producer as well as consumer of specialty films as a result of high consumer base in this region. MRFR analysis have predicted that Asia Pacific to continue its dominance over the assessment period reason being high economic development in the economies like China and India. North America to remain as a second largest market in Global Specialty Films Market. Established marine, electronics & electrical, and food industries to be the key growth drivers in this region. Europe is the moderately growing regional market and is expected to grow in similar manner owing to presence of stringent regulatory bodies.
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The Global Specialty Films Market consists of couple of established chemical industry players with large number of organized and unorganized industry players. Taking into account the overall films market growth, Specialty Films portrayed massive numbers in terms of global production as well as consumption. Major players operating in this market are Covestro Inc, DowDupont inc., Honeywell International Inc, Sealed Air, 3M Copany, Eastman Chemical Inc, Jindal Polyfilms, Evonik Industries. The market as a whole is operating at a moderate degree of competition which partly tilted towards high dew to development in the packaging solutions. As per our analysis, trend for flexible packaging across the globe has made this market to become investment centric, as specialty films demand largely belongs to the packaging application in above-mentioned industries. With increasing adoption of Specialty Films and low market entry barrier, the global specialty films market expected to be flooded by many of new market entrants and increase the market competition.
May 16, 2017- Covestro expanded the production capacity of polycarbonate in China.German based material producer company Covestro has announced the production capacity expansion in its Shanghai based plant. Earlier they have been producing the polycarbonate 400,000 tons per and with the additional capacity they will be producing the overall production of 600, 000 tons per year. The expansion activity is undertaken as a result of the strong customer demand and debottlenecking of production lines. The proposed production will comes in 2019. As polycarbonate films and sheets have significant applications in Specialty, therefore the expansion likely to offer growth factors n the coming years.
August 5, 2016 – British Polythene Industries PLC, was acquired by RPC Group, a foremost supplier as well as producer of polythene films. The company has 19 manufacturing films production facility across the Europe and North America and has proven reputation in polythene films market. Its acquisition expected to help RPC group, creating broad product portfolio and established market supply chain. BPI has a broad product portfolio of customers across the wide range of markets which will enable RPC group while providing the product offering in specific markets. BPI’s established market image will be additional benefits for RPC group and likely to enhance their organizational growth.
January 26, 2016 – Covestro one of popular polycarbonate films producer has made a significant investment in the polycarbonate films production. The investment has been undertaken at Germany based plant which is of USD 20 million. The major reason behind this investment is, Covestro is building a co-extrusion plant to manufacture flat films and the investment supposed to drive the proposed plant. With the target market of automotive, Specialty, medical and security cards, they have been developing the flat polycarbonate films and likely to develop diverse series of products. The overall impact of this investment expected to be seen in carting the specific requirement by the consumers in the specific Specialty applications.
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