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Building and construction sector to significantly contribute to the growth of the global technical films market
Global Technical Films Market: Forecast Highlights
According to Future Market Insights, the global technical films market is anticipated to reach a value higher than US$ 47 Bn by the end of the year of assessment from a value of around US$ 28 Bn by 2017. The global technical films marketis projected to grow at a high value CAGR of 5.3% throughout the period of assessment.
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Global Technical Films Market: Aspects Impacting Growth
Expanding demand for packaged food triggering the demand for technical films, sustained growth in building and construction, increasing demand for anti fog films for fresh produce applications, growing inclination towards high performance surface protection material, growing emphasis on manufacturing of smaller pack size barrier packaging and staggering growth in the electronics market are pushing the growth of the global technical films market. However, lack of competency in manufacturing technology for technical films and non-availability of feed stock coupled with shortage of technological equipment and machinery for flexible barrier packaging are posing hindrances to the global market’s growth.
Global Technical Films Market: Segmental Snapshot
The global technical films market is segmented on the basis of film type, end use industry, material type, thickness type and region.
By film type, the barrier film segment is estimated to reach a huge valuation of more than US$ 22 Bn by the end of the year of assessment. The safety and security film segment is projected to grow at a comparatively high value CAGR of 6.5% during the period of forecast.
By end use industry, the food and beverage segment is expected to be the largest in terms of market share and is likely to dominate the global market. The building and construction segment is poised to significantly contribute to the market value of the global technical films market.
By material type, the polypropylene segment is projected to grow at the fastest pace to register a value CAGR of 6.6% during the period of forecast. The polyethylene segment is expected to reflect a high market valuation by the end of the year of assessment.
By thickness type, 50-100 microns are largely preferred. This segment is expected to have a large market share and is estimated to reach a value more than US$ 17 Bn by the end of 2027.
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By region, Asia Pacific excluding Japan (APEJ) is a highly lucrative regional market presenting huge growth opportunities for technical films. The technical film market in the APEJ region is anticipated to reach a high market valuation and is projected to grow at the highest rate during the period of forecast.
Global Technical Films Market: Competitive Scenario
The global technical films market research report covers analysis on key players in the market. The companies such as Saudi Arabia Basic Industries Corporation (SABIC), Borealis AG, Selenis Portugal S.A., Vizelpas, Floter Verpackungs Service GmbH, HYPAC Packaging Pte Ltd., Bioplast, Futamura Chemical Co. Ltd., Polifilm GmbH, Perlen Packaging AG, HAFLIGER Film Spa, Kuhne Anlagenbau GmbH, Idealplast Srl and Cassioli Srl are profiled in this research report.
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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
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