by The global Industrial Film Market is estimated to be valued at US$ 39.48 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Industrial films are thin plastic or polymeric sheets that have unique properties based on the polymer and treatments applied to it. These films help improve the efficiency, durability, and performance of various industrial and commercial applications. The films provide protection against moisture, gases, chemicals, and abrasion.
Market key trends:
One of the key trends in the industrial film market is the rising demand for breathable films. Breathable films allow moisture to evaporate while preventing liquid water from passing through. These films are highly permeable to water vapor but not to liquid water. They effectively manage moisture and temperature, providing protection and comfort. Breathable films are replacing conventional plastics in many applications such as protective clothing, healthcare products, sports goods, footwear, and construction materials. Their ability to regulate moisture will continue driving their adoption across various industries over the forecast period.
Segment Analysis
The Global Industrial Film Market is segmented into linear low-density polyethylene (LLDPE), low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and others. The LLDPE segment dominates the market and is expected to continue dominating during the forecast period. LLDPE films are widely used due to their good processability, high strength, puncture resistance, and clarity.
Key Takeaways
The global industrial film market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing demand from the packaging sector. Rapid industrialization and growing end-use industries are further driving the market.
Regional analysis – Asia Pacific dominates the global industrial film market and is expected to continue its dominance during the forecast period. It is the fastest growing region due to rapid industrialization and increasing manufacturing activities in major economies like China and India.
Key players – Key players operating in the industrial film market are Toray Plastics, 3M Company, Dupont Teijin Films, Eastman Chemical Company, SKC Co. Ltd., Solvay Group, Kolon Industries, The Chemours Company, Jindal Polyfilms, Polyplex, and Cosmo Films Limited. Toray Plastics, 3M Company and Dupont Teijin Films captured over 25% of the global market share in 2022.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
