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High Performance Films Market Growth Analysis & Trends | Global Industry Report, 2020-2024
High Performance Films Market
This can be attributed to the impressive mechanical and aesthetic properties that these products possess, which has enabled them to be used for lightweight and durable packaging applications. In this regard, it is safe to declare that expanding flexible packaging market share would commendably support the thriving high performance films industry over the forecast period.
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An exemplary model for the same is offered by ProAmpac’s recent launch of ProActive Recyclable standard and high barrier packaging films. A leading flexible packaging manufacturing firm- ProAmpac- in 2019 rolled out its ProActive Recyclable R-100 rollstock film for both the horizontal and vertical form fill machines. This new launch has enabled the company to expand its product portfolio in the dry food, pet food, and home and personal care segments. Apparently, the move is expected to bolster ProAmpac’s stance in the flexible packaging market while also carving a niche in the high performance films industry.
The high performance films are endowed with robust characteristics of high chemical resistance, durability, high tensile strength, temperature and light control, and superior UV ray protection, owing to which they find applications in the interior decoration, construction, F&B, packaging, and electrical and electronics sectors, thereby impelling the business trends.
How will a robust end-use spectrum drive the adoption of high performance films?
The end-use spectrum of high performance films market is indeed appreciable. In fact, the mammoth construction industry, worth an anticipated USD 15.5 trillion is expected to stand as strong end-use contender in the high performance films business landscape. This growth can aptly be credited to the intrinsic mechanical and aesthetic properties of these films.
It is prudent to note that high performance films are observing tremendous gains from microporous films application segment. Microporous films are generally used for waterproofing applications across the construction sector which is facilitated by its exceptional features like water repellence, low moisture absorption, and air penetration. Apparently, these factors commonly add to the surging demand for high performance films across the construction sector.
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Elaborating further, one of the critical sectors that is poised to emerge as a remunerative segment in the high performance films market is the electrical and electronics industry. Subject to its chemical inertness, dielectric, and low friction co-efficient properties, these films find umpteen applications across microphone, cable insulation, and photovoltaic devices, in turn propelling high performance films market trends in the upcoming years. Besides, evolving innovations in the electronics sectors with respect to high performance films are touted to bolster the market dynamics over the stipulated time frame.
High performance films industry involves the participation of myriad companies that accumulate a significant share of other industries as well. The reason may be credited to the market’s widespread end-use spectrum. Keeping in line with the conventional industry trends, renowned biggies like Dow Chemical Company, 3M, Bayer Material Science, Honeywell, and others, often engage in strategic collaborations and partnerships with third party vendors to expand their geographical reach. The 2012 coalition between Eastman Chemical Company and Solutia is an example of one such collaboration that served to bolster the presence of the latter to a considerable extent.
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