The new report by Expert Market Research titled, ‘Global Speciality Films Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the speciality films market, assessing the market based on its segments like resin, function, end-use industry, and regional markets among others. the report tracks the latest trends in the industry and studies their impact on the overall market.
It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-202)
• Forecast CAGR (2023-2028): 5.10%
The global market for specialty films is expected to profit from the electronic industry’s need for specialty films. The need for conductive and insulative films for electronic packaging is driving the market globally as a consequence of soaring demand for consumer electronic items due to rising disposable incomes, WFH culture as a result of the COVID-19 epidemic, and fast technological advancements. Furthermore, recent increases in sophisticated battery production have accelerated the need for specialty films in the transportation industry, boosting market expansion.
Furthermore, the Asia Pacific region is predicted to account for a considerable portion of the market’s total expansion. This can be attributed to Chinese manufacturers’ strong market penetration. In the future years, the demand for specialty films from a variety of end-use sectors is expected to boost market growth.
Industry Definition and Major Segments
Since specialty films have a high tensile strength and operate as a protective shield, they are used in a variety of industries. The growing relevance of bio-based polymers, as well as the economic expansion of the BRIC countries, have been propelling the specialised film industry.
Polyesters, nylons, polyolefin-based films such as Ethylene vinyl alcohol (EVOH) and polyvinylidene chloride (PVdC), polycarbonates, fluoropolymers, and polyamides are among the materials used in speciality films. The key product segments include fluoropolymers, polyolefin-based films, and nylons, which are predicted to account for a large portion of the speciality film market. Due to environmental concerns and the need for clean energy, bio-based polymers are projected to become more popular in the near future.
On the basis of resin, the market can be divided into:
• Polyester
• Nylon
• Polyacrylamide
• Fluoropolymer
• Polyimide
• Polyolefin
• Others
Based on function, the market can be segmented into:
• Barrier,
• Conduction and insulation,
• Microporous,
• Safety and security
• Others
The market, based on end-user industry, the market can be categorised into:
• Packaging
• Personal care
• Electrical and electronics
• Transportation
• Construction
• Medical
The major regional markets of the speciality films market are:
• North America
• Asia Pacific
• Latin America
• Europe
• Middle East and Africa regions
Market Trends
Most worldwide market manufacturers are forming strategic alliances with global functional packaging firms to give the most effective selection of speciality films that will aid in the market’s progress throughout the projected period of 2021-2028. Furthermore, the production and manufacturing units are on the road to establishing a trustworthy relationship and increasing global competitiveness, which will encourage market participants to invest in the availability of high-quality products among the target audience.
Max Speciality Films, a subsidiary of Max Ventures & Industries (NSE: MAXVIL), invested Rs 600 million in December 2020 to establish two metalliser lines to fulfil rising demand for speciality packaging from the packaged food industry with better shelf life and 100% dependable lamination alternatives. These lines apply a small coating of aluminium to the specialty film in order to improve the barrier qualities and the packaging’s look. Leading industry players are pursuing expansion and investment initiatives that are propelling the market forward.
Key Market Players
The major players in the market are 3M Company, Avery Dennison Corporation, Covestro AG, Inteplast Group, and SABIC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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