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Specialty Film Market Forecast, Size Estimation and Price Trends 2023 - Madico Inc., Berry Global Inc., Bemis Company, Inc., SABIC, Solvay SA, Toray Plastics Inc., Covestro AG, Specialty Polyfilms Pvt. Ltd, Amcor Limited, Trico Specialty Films and Tufpak
Specialty Films Market To Expand due To Increase in Demand from Packaging Industry
The key players operating in this market are adopting various business strategies such as R&D, product launches, expansions, and joint ventures to gain significant market shares. In April 2016, Transilwrap Company Inc., a leading manufacturer, converter, and distributor of specialty films, signed a letter of intent to acquire the Dow Chemical Company’s Global Specialty Films Business.
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Specialty films are biodegradable and offer resistance to water, surface scratches, abrasions, corrosion, and high temperatures. Due to these properties, specialty films have applications in packaging, automotive, food & beverage, and several other industries. The rapid growth of these industries in an effort to meet rising demand is expected to boost the growth of the Global Specialty Films Market. Expanding the preference for convenient food items has increased the production and availability of packaged food products which has been identified as a significant driver of the Global Specialty Films Market. Additionally, specialty films have applications in agriculture as covers for storage of silage and grain which extends itself to increasing crop yield. Urbanization and resulting increase in purchasing power that emerging economies are presently experiencing are expected to significantly increase the growth of the global specialty films market and offer multiple opportunities for the growth of the market.
Key Players
Some of the key players in the global specialty films market are Saint-Gobain Performance Plastics (France), Madico Inc. (US), Berry Global Inc. (US), Bemis Company, Inc. (US), SABIC (Saudi Arabia), Solvay SA (Belgium), Toray Plastics Inc. (US), the Dow Chemical Company (US), Honeywell International Inc. (US), Covestro AG (Germany), Specialty Polyfilms Pvt. Ltd (India), Amcor Limited (Australia), Trico Specialty Films (US), and Tufpak, Inc. (US).
Intended Audience
Specialty films manufacturers
Traders and distributors of specialty films
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratories
Regional Analysis
The Asia Pacific accounts for the most significant share of the Global Specialty Films Market due to the presence of tremendous opportunity and the establishment of the region as an industrial hub is likely to result in market growth. Increasing consumption of packaged food in the region has been found to be a significant contributing factor in the APAC’s position in the Global Specialty Films Market. China, India, and Japan are the most prominent economies in the region where growth has been measured, and these countries are expected to lead growth for the market during the assessment period.
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Meanwhile, North America and Europe, with their comparable growth trajectories are also significant regional segments in the Global Specialty Films Market. The growing use and demand for biodegradable packaging films in these regions are expected to lead to considerable growth. Moreover, the presence of key market players in these regions have cemented their notable market positions.
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