Latest Industry News
Cosmo Films has launched its newest product, BOPP-based heat-resistant films which offer superior printability for packaging.
Jindal Films will be unveiling its new OPP film technology dubbed ULTRASEAL at FachPack 2018. Unique heat seal performance capabilities are expected to give the new technology an edge.
Key Players
Honeywell International Inc., Bemis Company, Inc., SABIC, Toray Plastics Inc., Tufpak, Inc., Saint-Gobain Performance Plastics, Solvay SA, The Dow Chemical Company, Madico Inc., Trico Specialty Films, Covestro AG, Berry Global Inc., Amcor Limited, and Specialty Polyfilms Pvt. Ltd are some important players in the market that have been included in MRFR’s analysis of the competitive landscape of the Global Specialty Films Market.
Market Insights
Specialty Films are modified plastic films that offer high performance through the use of coatings and additives. Specialty Films can perform a variety of functions based on their applications. Market Research Future has found that the Global Specialty Films Market is expected to witness growth over the forecast period due to increasing use of specialty films in a variety of applications across a number of end-use industries.
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Specialty Films are biodegradable and offer resistance to water, surface scratches, abrasions, corrosion, and high temperatures. Due to these properties, specialty films have applications in packaging, automotive, food & beverage, and several other industries. The rapid growth of these industries in an effort to meet rising demand is expected to boost the growth of the Global Specialty Films Market. Expanding the preference for convenient food items has increased the production and availability of packaged food products which has been identified as a significant driver of the Global Specialty Films Market. Additionally, specialty films have applications in agriculture as covers for storage of silage and grain which extends itself to increasing crop yield. Urbanization and resulting increase in purchasing power that emerging economies are presently experiencing are expected to significantly increase the growth of the Global Specialty Films Market and offer multiple opportunities for the growth of the market.
The Specialty Films Market is likely to leverage various opportunities over the forecast period as R&D activities will lead to product development and launches of innovative Specialty Films which will contribute to market expansion.
Market Segmentation
MRFR’s identification of the various segments of the market has been performed on the basis of type of film, material, end-use industry, and region. By type of film, the market has been categorized into decorative, barrier, microporous, antimicrobial, protective, and others.
By Material, the Global Specialty Films Market is segmented into fluoropolymer, polyamide, polyolefin, polyester, polycarbonate, and others.
Various End-User Industries have been identified as key segments of the market and include automotive, aerospace, food & beverage, electronics, personal care & cosmetics, construction, packaging, and others.
The regional segments of the market have been identified as North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa.
Regional Analysis
The Asia Pacific accounts for the most significant share of the Global Specialty Films Market due to the presence of tremendous opportunity and the establishment of the region as an industrial hub is likely to result in market growth. Increasing consumption of packaged food in the region has been found to be a significant contributing factor in the APAC’s position in the Global Specialty Films Market. China, India, and Japan are the most prominent economies in the region where growth has been measured, and these countries are expected to lead growth for the market during the assessment period.
Meanwhile, North America and Europe, with their comparable growth trajectories are also significant regional segments in the Global Specialty Films Market. The growing use and demand for biodegradable packaging films in these regions are expected to lead to considerable growth. Moreover, the presence of key market players in these regions have cemented their notable market positions.
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