There is seen an increased popularity of specialty films industry and the market is expected to experience high industry rivalry because of increasing presence of numerous manufacturers with strong position in the industry. The fluctuating prices of primary raw material i.e., crude oil and naphtha, are expected to affect the market growth. Manufacturers will undergo integration across the value chain in near future, with an objective of meeting rising consumer demand, reducing manufacturing cost, and increasing profit margins. There will be a push in demand as manufacturers have taken Initiative to improve films strength, durability and quality which will meet the consumer demand and their stringent specifications.
The market size for global specialty films was valued at around USD 30 billion in 2015 and is expected to grow at a CAGR of approximately 5% by the end of the forecasted period. Rapid growth and increasing demand of specialty films technology by end-use industries such as Food & beverages, electronics, and aviation and few more are helping in growth of this market. A few constraints associated with this market include stringent regulations against use of plastic materials and the rising environmental concerns which might hinder the growth of this industry.
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The key players of global Agricultural Films market report include- Amcor ltd., Covestro Inc., Dow Chemical Inc., DuPont USA, Honeywell International Inc., Sealed Air Inc., 3M Company, Eastman Chemical Inc., Jindal Poly Films Inc., Evonik Industries Inc.
Market Research Analysis:
Chemical resistance and excellent mechanical strength offered by these films will open new avenues for the product market in food and automotive applications. Investment in R&D in area of recyclable plastic materials and development of bio-degradable is anticipated to open new avenues for the market growth by 2022. The industry will be experiencing high industry competition due to the presence of several manufacturers in the industry. Various Initiatives which are taken by manufacturers to improve films strength, durability, and quality to meet the consumer demand along with stringent specifications is expected to drive demand.
Specialty films used in food processing and pharmaceutical blister packaging industry is likely to fuel the demand over the estimated period. Significant growth will be witnessed by Polyamide and nylon based films owing to the excellent flexibility and thermal stability offered by these materials. Growing demand for bio-degradable plastic materials is likely to be a key driver for the product growth over the forecast period. Rising consumer awareness for food hygiene and safety will also boost demand of specialty films.
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Scope of the report
This study provides an overview of the global specialty films industry, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global specialty films market as material, and application. On the basis of material it is segmented as polyesters, nylons, polyolefin and others. On the basis of application it is segmented as electronics, construction, food & beverages, personal care and others.
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