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Construction Film Market Demonstrates Steady Growth, Forecasted to Hit $21.5 Billion by 2028 - Propelled by Green Building Trends and Increasing Construction Sector Activities
Construction Film Market
The construction film market has exhibited steady growth, increasing from $17.13 billion in 2023 to an estimated $17.86 billion in 2024, with a Compound Annual Growth Rate (CAGR) of 4.2%. The market is poised for continued growth, with projections indicating an expansion to $21.5 billion by 2028, maintaining a CAGR of 4.8%.
Key Growth Drivers:
The construction film market's upward trajectory is significantly influenced by the rising demand for green buildings. As the concept of green buildings gains popularity, characterized by lower operating costs, resource conservation, energy efficiency, and enhanced productivity, the usage of construction films in green building projects has surged. The durability and cost-effectiveness of construction films make them a preferred choice in such projects. The World Green Building Trends reported that 47% of industry respondents aimed to make the majority of their projects green by 2021, driving the growth of the construction film market.
The burgeoning construction sector plays a pivotal role in propelling the construction films market forward. The construction industry, dedicated to creating, restoring, refurbishing, and maintaining structures and infrastructures, utilizes construction films to enhance quality, safety, and efficiency in projects. Notably, in March 2023, the United States Census Bureau reported a 3.8% increase in construction spending, reaching $1,834.7 billion. Similarly, the UK's construction sector saw a record 12.7% rise in 2021 compared to the previous year. These trends underscore the significant contribution of the construction industry to the growth of the construction films market.
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Innovations and Market Players:
Key companies operating in the construction film market, including Raven Engineered Films, Saint-Gobain Performance Plastics Corp., and Berry Global Inc., are actively investing in the Research and Development (R&D) of construction film production. Advancements in barrier protection, exemplified by Cosmo Films' Enhanced Metalized BOPP Film, open new opportunities for construction film applications in packaging and various industries.
In response to the growing demand, market leaders are launching innovative products. DuPont Inc.'s introduction of Tedlar polyvinyl fluoride (PVF) film showcases the industry's commitment to meeting evolving market needs. Tedlar PVF film offers durable and cost-efficient solutions for safeguarding metal surfaces across diverse applications in architecture, transportation, and industrial environments.
Regional Dynamics and Market Segmentation:
In 2023, Asia-Pacific claimed the largest share in the construction films market, and the regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The construction film market covered in this report is segmented -
1) By Type: LDPE And LLDPE, HDPE, PP, PVC, PVB, PET/BOPET, PA/BOPA
2) By Application: Protection And Barrier, Decorative
3) By End User Industry: Residential, Commercial, Industrial
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/construction-film-global-market-report
Construction Film Global Market Report 2024 from TBRC covers the following information:
1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Construction Film Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on construction film market size, construction film market drivers and trends, construction film market major players, construction film market competitors' revenues, construction film market positioning, and construction film market growth across geographies. The construction film market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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