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Thermoplastic Film Market to Reach at US$ 17.54 Billion by 2034, Expanding at a CAGR of 5.4% | Fact.MR Report
Thermoplastic Film Market
Thermoplastic films are used on the inner or outer surface of a substrate in the shape of thin laminated films with clear or colored design. Thermoplastic materials like PVC, PET, and polypropylene are converted into these films by processes such as calendaring and extrusion.
Sales of thermoplastic films to be applied to furniture, doors, and windows are growing due to the drastic decrease in the need for temperature control that results from the application of various types of thermoplastic films on doors and windows.
Increasing urbanization and new construction are likely to spur demand for such films in construction and building works. Thermoplastic films are utilized in construction applications across various projects, including residential, commercial, industrial, and infrastructure developments.
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Key Takeaways from Market Study:
The thermoplastic film market is estimated to reach US$ 9.84 billion in 2024.
The market is projected to grow at a 5.4% CAGR and attain a value of US$ 17.54 billion by 2034.
North America is expected to hold a 26.4% market share by 2034.
East Asia is anticipated to experience a 6.9% CAGR from 2024 to 2034.
New installations are forecasted to account for 63.1% of the market share in 2024.
The commercial segment is projected to hold a 31.4% market share in 2024.
Leading Players Driving Innovation in the Thermoplastic Film Market:
OMNOVA Solutions, Inc.; ERGIS Group; Nihon Matai; Covestro; RTP Company; Perfectex Plus LLC; Permali Gloucester Limited; Bayer Material Science; Huntsman Corporation
Why is the Thermoplastic Film Market Growing Gradually?
Improvements in film manufacturing processes such as blown film extrusion, cast film extrusion, and co-extrusion have enabled the production of high-quality thermoplastic films with improved properties and performance characteristics.
Blown film extrusion involves melting plastic pellets and blowing air into the melted material to create a bubble. The bubble is then cooled and collapsed to form a flat film. Cast film extrusion, by contrast, consists of a continuous process of melting plastic resin and casting it onto a cold surface to create a thin, flat film.
Co-extrusion, a more advanced method, makes it possible to form multi-layered films with different properties in each layer. Customized characteristics within one film are achieved, for example, different levels of strength, flexibility, or barrier properties, to suit particular application needs.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the thermoplastic film market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the material, installation, end use, application, and region. By material, the market includes Vinyl & Polyvinyl Chloride, PET, Polypropylene, TPU, TPO, and TPE. In terms of installation, thermoplastic films are categorized into New installations and Re-decorations.
The market's end-use sectors comprise Residential, Commercial, Transportation, and Institutional applications. Based on application, thermoplastic films are used in Furniture, Doors & Windows, and Automotive Interiors & Exteriors. Geographically, the market is analyzed across North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa.
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