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Global Textile Films Market - Industry Trends and Forecast 2024
Textile Films Market - Industry Trends
As per the report, the textile films market size has grown strongly in recent years. It will grow from $5.78 billion in 2023 to $6.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The textile films market size is expected to see strong growth in the next few years. It will grow to $8.39 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
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Rising Urban Population Drive Growth Of Textile Film Market
The rapidly growing urban population is expected to drive the demand for the textile film market going forward. Urbanization refers to the shifting of population to urban areas. The positive effects include economic development, accessibility to education and jobs and a higher quality of life, and more income. All these factors combined make it lucrative for people to spend on high-quality textiles which has led to the development of new textile films and techniques. According to the World Bank, an international financial institution, the urban population in South Asia is expected to grow by 250 million by 2030. According to a report by PricewaterhouseCoopers (PwC), a UK-based professional services company, By 2030, urbanization is anticipated to account for 60% of global population. Therefore, the rapidly growing urban population will promote the textile film market.
Technological Advancements Driving Innovation In Textile Films Market
Major companies operating in the textile films market are adopting new technologies to sustain their position in the market. For instance, in April 2023, Justrite, a US-based, industrial safety solutions provider launched PetroPad Smart Polymer Spill Pad to absorb and permanently solidify hydrocarbons like oil, diesel and gas. The geotextile fabric of the PetroPad contains a one-of-a-kind polymer technology that can convert dangerous hydrocarbons into a substance resembling rubber that is not hazardous. The unique polymer blend used in the PetroPad is designed to trap hydrocarbons in a permanent manner while permitting rainwater to pass through without becoming contaminated. This innovative spill-control technology provides a significantly greater oil capacity, reduces the costs associated with waste disposal, and eliminates the possibility of an environmental disaster.
The textile films market covered in this report is segmented -
1) By Type: Non-Breathable Films, Breathale Films
2) By Material: Polyethylene (PE), Polyprorpylene (PP), Polyurethane (PU), Others Materials
3) By Applicatiion: Hygiene , Medical, Sportswear, Protective Apparel, Others Applications
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Major companies operating in the textile films market report are RKW Group, Covestro AG, Berry Global Group Inc., Mitsui Hygiene Materials Co Ltd, Schweitzer-Mauduit International Inc., Toray Industries Inc., Jindal Poly Films Ltd., Chirpal Poly Film Ltd., Arkema S.A, American Polyfilm Inc., Dongying Gaolart Import & Export Co, Fatra A.S., Trioplast Industrier AB, Cosmo First Limited, Nahar Poly Films Limited, 3M Company, AEP Industries Inc., Amcor Limited, Avery Dennison Corporation, Bemis Company Inc., Bonset America Corporation, CCL Industries Inc., DuPont de Nemours Inc., DSM Engineering Plastics Inc., Eastman Chemical Company, ExxonMobil Chemical Company, Flex Films Inc., Formosa Plastics Corporation, Futamura Chemical Co. Ltd., Garware Polyester Ltd., GBC Industrial Tools S.p.A.
Contents of the report:
1. Executive Summary
2. Textile Films Market Report Structure
3. Textile Films Market Trends And Strategies
4. Textile Films Market - Macro Economic Scenario
5. Textile Films Market Size And Growth
…..
27. Textile Films Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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