North American Converted Materials Service Market--Opportunity Analysis and Industry Overview
Large Capital Reserves and Multi-functional Expertise Help Leading Competitors Vertically Integrate with Contract Manufacturing
NEW YORK, May 28, 2015 /PRNewswire/ -- The converted materials service market is defined by converting and contract manufacturing services provided for a substrate or material. Converting services include coating, laminating, diecutting, embossing, metallizing, perforating, printing, sheeting, slitting, and rewinding. In this market insight, any service provided for a product involves a substrate (material) and a coating or a coated substrate. Substrates that are converted include paper, film, fabric, and foil. This insight covers the region of North America; the end applications studied are automotive & transportation, biotech, medical, & pharma, building & construction, marine, electronics, energy & power generation, manufacturing (chemical, pulp, paper), oil & gas, textile, optical & glass, and packaging.
Key Findings
The total converted materials service market, worth $ billion in 2014, is primarily composed of the revenue generated from OEM and contract manufacturing. The market is growing at % (compounded annually) and will be worth $ billion in 2020.
Toll coating services is the smallest segment, followed by other higher value-added non-coating converting services.
The growing need for toll coating and contract manufacturing is driven by the opportunity to add value; in addition, product manufacturing costs and market capacity can be optimized.
The converted materials service market is restrained by short-term business relationships, fluctuating consumer demand for end products, and increasing company focus on the setting up of in-house (captive) converting and coating operations.
Regulations and industry certifications, which are part of a larger set of business selection criteria, are important differentiating factors for converters when navigating through the marketplace for new opportunities.
Turnaround time, comprehensive customer service, and client involvement are the major selection criteria for potential customers.
OEM and contract manufacturing commands the greatest share ( %) and is projected to exhibit the quickest growth ( %) in a robustly profitable market environment.
Read the full report: http://www.reportlinker.com/p03002296-summary/view-report.html
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