High Performance Film Market Worth 42.25 Billion USD by 2020
PUNE, India, March 1, 2016 /PRNewswire/ --
The report "High Performance Film Market by Material (Polyester, EVA, Polyolefin, Others), by Type (Barrier, Safety & Security, Others) by Application (Automotive, Aerospace, Electrical & electronics, Packaging, Construction), by Region - Global Trends & Forecast to 2020", published by MarketsandMarkets, The HPF Market is projected to reach USD 42.25 Billion by 2020, growing at a CAGR of 7.51% during the forecast period.
This growth is fueled by increasing advancements in film technology, growing demand from application areas (such as packaging, automotive & transport, aircraft/aerospace, electrical & electronics, and construction), and increasing number of new product launches and agreements & collaborations.
Browse 143 tables and 67 figures spread through 206 Pages and in-depth TOC on "High Performance Film Market"
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Fluoropolymers: The fastest-growing material type in the HPF market
Fluoropolymers can be defined as semi-crystalline engineering thermoplastics, which possess a combination of good chemical resistance, excellent electrical insulation properties, and favorable mechanical properties. They are highly weather-resistant and can function in extreme temperatures. Fluoropolymers have a low coefficient of friction. The market for fluoropolymers is currently witnessing high growth, due to rising demand from key industries such as electrical & electronics, automotive, and transportation.
Packaging: The largest market for HPF
The packaging industry is the largest market for HPF, and accounted for the largest market share, in terms of value, in 2014. Packaging has become an essential everyday item, with its usage growing broadly in line with the global economy. Barrier resins, primarily nylon and polyolefin-based films, are the primary products used in this segment. HPFs offer lightweight and high performance characteristics such as resistance to corrosion and abrasion, reduced processing costs, self-lubrication, easy assembly, reduced finishing time, and design flexibility. They are widely used for packaging applications, due to their low cost and efficient performance. The packaging segment of the High-Performance Film (HPF) Market is driven by factors such as the high heat resistance of HPF.
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Asia-Pacific: The largest market for HPF
Asia-Pacific is the largest market for HPF, with major developments witnessed in China, Japan, India, South Korea, and Indonesia. The region is also projected to be the fastest-growing market for HPF. This high growth can be attributed to factors such as expansion of production capacity and competitive manufacturing costs. The rising disposable income of the middle class and the increasing demand for processed food are key drivers of the HPF market in Asia-Pacific. The region is witnessing substantial growth, owing to rising investments in infrastructure development and construction projects.
Major players, such as The 3M Company (U.S.), Dow Chemical Company (U.S.), Solvay S.A. (Belgium), Covestro (Germany), E.I. DuPont de Nemours and Company (U.S.), Evonik (Germany), and Honeywell International Inc. (U.S.), have adopted development strategies such as expansions, agreements & collaborations, and new product development to achieve growth in the global HPF market.
This report covers the HPF market, in terms of value and volume, and forecasts the market size till 2020. It segments the market by material, type, application industry, and region. It also provides company profiles and details the competitive strategies adopted by major players in the global HPF market.
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