Construction Films Market Upcoming Peaks Market Size's Projection to Reach New Heights

Allied Market Research recently released a report on the construction films market, indicating that it generated $8.0 billion in 2020 and is projected to reach $14.6 billion by 2030, with a compound annual growth rate (CAGR) of 6.3% from 2020 to 2030.

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According to Eswara Prasad, the Manager of Materials & Chemicals at Allied Market Research, the construction industry is expanding globally in both financially stable and economically developing countries. As a result, the demand for protection and storage of various building materials has surged, propelling the construction film market forward. Additionally, there's a growing need for protective films and water barriers, which has positively impacted the market's growth in recent years.

The report offers an in-depth analysis of market drivers, restrains, and opportunities, aiding market players in developing strategies and leveraging potential market opportunities. Factors such as the rise in construction activities, growth of the construction industry in developing nations, and an increase in government projects are driving the global construction films market's growth. However, the use of non-biodegradable plastic hampers market growth. Yet, the development of eco-friendly polyethylene films and the recycling of plastic films present new opportunities in the coming years.

The report also covers the impact of the COVID-19 pandemic on the construction films market, which negatively affected global growth. Initially, the pandemic halted construction activities worldwide and disrupted supply chains due to lockdown implementations, leading to reduced usage of construction films for curing concrete.

Detailed segmentation of the global construction films market is provided based on type, application, end use, and region, allowing market players to identify the fastest-growing and highest revenue-generating segments for future growth.

The gas & moisture barrier segment dominated the market in 2020 by application, contributing to over one-fourth of the global construction films market and is expected to maintain its leadership status with the fastest CAGR of 6.3% from 2020 to 2030.

By end user, the residential segment held the largest share in 2020, accounting for over one-third of the global construction films market and is expected to witness the highest CAGR of 7.4% from 2020 to 2030, attributed to the rising number of residential construction projects globally due to population growth.

In terms of region, Asia-Pacific led the market share in 2020, followed by North America, contributing nearly two-fifths of the global construction films market. Moreover, Asia-Pacific is anticipated to witness the highest CAGR of 7.2% during the forecast period, driven by large-scale infrastructure and massive urbanization in the region's developing countries.

The report also profiles leading players in the global construction films market, including Eastman Chemical Company, Mitsubishi Chemical Corporation, Raven Industries, Inc., Saint-Gobain, Berry Global, E.I. du Pont de Nemours, Mondi, RKW SE, Supreme, and Toray Industries, Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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