Industrial Films Market | Key players operating in the market include Saint-Gobain, 3M, SKC Co. Ltd., Toray, Eastman

According to recent market research "Industrial Films Market by Film Type (LLDPE, LDPE, HDPE, PET/BOPET, PP/BOPP, CPP, PVC, Polyamide/BOPA), By End-use Industry (Transportation, Construction, Industrial Packaging, Agriculture, Medical), and Region - Global Forecast to 2025", The global industrial films market size is expected to grow from USD 39.4 billion in 2020 to USD 49.0 billion by 2025, at a CAGR of 4.5% during the forecast period. Industrial films are used across industries, such as agriculture, transportation, electrical & electronics, photovoltaics, construction, industrial packaging, medical, and aerospace. In the industrial films market, agriculture is the key end-use industry owing to the wide applications of these films as greenhouse films, mulch films, silage films, and others in this sector.

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The industrial films market has been segmented based on film type into LLDPE, LDPE, HDPE, PET/BOPET, PP/BOPP, CPP, PVC, Polyamide/BOPA and others. Among these types, the LLDPE segment accounted for the largest share of the market in 2019 and is likely to witness a significant growth during the forecast period. The market growth in this segment is attributed to their wide applications and superior properties such as impact & tensile strength and heat sealability LLDPE is replacing LDPE in many areas such as industrial packaging and agriculture, but there are some differences in their properties that make both these films suitable for diversified applications.

The agriculture end-use industry segment is growing rapidly. The decreasing arable land, coupled with rising demand for food, which is driving the need for modern farming techniques, which, in turn, is fueling the demand for plastic films in the agriculture industry. The segment is expected to dominate the industrial films market owing to the rising need for food, driven by the growth of the global population. This has led to the development of advanced cultivation methods that can increase crop productivity and resist climatic changes.

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The global industrial films market size is estimated to grow from USD 39.4 billion in 2020 to USD 49.0 billion by 2025, at a CAGR of 4.5% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application areas of industrial films ranging from agriculture to the construction industry. Increasing demand from APAC will further drive the growth of the global industrial films market.
Saint-Gobain (France), Berry Global group (US), SKC Co. Ltd. (South Korea), Toray (Japan), and Eastman (US), DSM-RKW SE (Germany) and 3M (US) among others are the leading industrial films manufacturers, globally. These companies adopted expansion, new product development, joint venture, and merger & acquisition as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the industrial films market.

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Saint-Gobain (France) is the largest player in the market. In February 2019, Saint-Gobain completed the acquisition of American Seal and Engineering Co., a leader in technical sealing solutions. In May 2019, Saint-Gobain acquired UK-based Pritex, a key player in acoustic and thermal insulation solutions made from polymer-based composite materials and intended for the mobility market.

Berry Global Group (US) is ranked second in the industrial films market. In July 2019, Berry Global Group completed the acquisition of RPC for aggregate consideration of USD 6.1 billion. RPC is a leading plastic product design and engineering company for packaging and select non-packaging markets, with 189 sites in 34 countries. Also, in July 2019, Berry Global Group completed the sale of its Seal For Life (“SFL”) business, which was operated in the Health, Hygiene & Specialties segment for net proceeds of USD 326 million.

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