The textile films market is projected to register a CAGR of 6.6%, in terms of value, between 2018 and 2023
LONDON, April 10, 2019 /PRNewswire/ -- The textile films market is projected to register a CAGR of 6.6%, in terms of value, between 2018 and 2023.
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The textile films market is projected to grow from USD 4.5 billion in 2018 to USD 6.2 billion by 2023, at a CAGR of 6.6%. The increasing use of hygiene products such as baby diapers and sanitary napkins, increase in aging population, growth in the infrastructure sector, and growing urbanization are the major drivers for the textile films market. Another factor driving the textile films market is the increased awareness around maintaining proper feminine and child hygiene. However, the volatility of raw material prices is restraining the growth of the market. Most of the raw materials used in the production of textile films are petroleum products. The prices of these raw materials have been highly volatile in recent times, touching a five-year low, which affected the market growth.
Breathable films segment is expected to be the fastest-growing type of textile films, in terms of volume and value, during the forecast period.
Breathable films are thin films formed by a combination of polymers and mineral fillers.The major advantages of breathable films are improved user comfort, better skin breathability, and reduction in side-effects, higher bursting strength, and improved hygiene.
Breathable films are used in the production of baby diapers, sanitary napkins, and incontinence pads, supplies for the chronically ill or for other medical applications. The growth in the use of hygiene products such as sanitary napkins and diapers, among others, globally, and increased use of sportswear is responsible for the large market size for breathable films.
PE is expected to be the largest material used in textile films, in terms of volume and value, during the forecast period.
PE is easily available and widely used in various applications, ranging from shampoo bottles to bulletproof vests.It has high ductility, good chemical resistance, and high impact strength, which enable appropriate use of this polymer in textile films.
The presence of the aforementioned properties, easy availability, and low cost are the major drivers for the use of PE in textile films.
Hygiene is estimated to be the largest application of textile films, in terms of volume and value, during the forecast period.
Hygiene applications for textile films include baby diapers, adult incontinence diapers, and sanitary napkins.The hygiene products market is matured in developed countries.
However, the use of hygiene products in emerging economies such as China, India, Brazil, South Africa, and others is growing, mainly driven by rising awareness and decline in societal stigma.
APAC is projected to be the largest textile films market, in terms of volume, during the forecast period.
APAC was the most promising market for textile films in 2017 and is expected to be the same during the forecast period.The rising population, increased demand for hygiene products, growing disposable income, rapid industrialization, and increased urbanization are driving the APAC textile films market.
Shifting demographics such as low infant mortality rate, growing awareness about maintaining hygiene, and improving lifestyle standard are responsible for the high growth of the market in the hygiene segment. In addition, rapid infrastructural development is driving the construction sector thus, propelling the textile films market in the region.
The market sizes estimated in this study were validated through primary interviews conducted with various industry experts, globally. These primary sources are divided into three categories:
• By Company Type: Tier I – 25%, Tier II – 50%, and Tier III – 25%
• By Designation: C Level – 20%, Director Level – 30%, and Others – 50%
• By Region: North America – 22%, Europe – 33%, APAC – 28%, and RoW – 17%
The report profiles several leading players of the textile films market that include RKW Group (Germany), Covestro (Germany), Berry Global (US), Mitsui Hygiene (Thailand), Arkema (France), SWM International (US), and Toray Industries (Japan). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the textile films market.
RESEARCH COVERAGE
The objective of this study is to define, describe, and forecast the textile films market based on various segmentations and strategically analyze these market segments with respect to individual growth trends, growth prospects, and contribution to the overall textile films market. In this report, the textile films market has been segmented based on type, material, application, and region.
KEY BENEFITS OF BUYING THE REPORT
The report is expected to help market leaders/new entrants in the textile films market in the following ways:
1. This report comprehensively segments the textile films market and provides the closest approximations for the sizes of different segments and subsegments of the market across different verticals and regions.
2. This report is expected to help stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses. The competitive landscape section includes detailed information about strategies such as merger & acquisition, agreement, and investment & expansion, which were undertaken by various key players to enhance their position in the textile films market.
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