Synopsis of Industrial Films Market —
The growth of Industrial Films Market can be attributed to the growing consumption in the end user industries such as agriculture, transportation, industrial packaging, medical and others. The growing industrialization, and urbanization in the developing regions throughout the globe is expected to boost the market during the forecast years. The global market of Industrial Films is a lucrative one and is expected to expand at an encouraging CAGR during the forecast years. The excellent heat resistance, tensile strength, and chemical stability of Industrial Films makes it ideal for the packaging of various food, pharmaceutical and electronics which is a major factor driving the market positively.
Among the various product segments in Industrial Films Market, the linear low-density polyethylene segment is the leading segment of the market and is anticipated to continue its dominance over the forecast period. This growth is attributed to the increased demand of LLDPE owing to its excellent properties such as tensile strength, excellent relative transparency, impact strength, and puncture resistance among others. They are extensively used in bags, shipping sacks, liners, candy wrap, and envelope films among others. The polypropylene/bi-axially oriented polypropylene (PP/BOPP) is anticipated to be the fastest growing segment owing to its growing use in the packaging, printing and lamination among others. Properties such as lightweight, clarity, and ultra violet resistance is attributed to the growth of the segment.
Some of the prominent players operating in the Global Industrial Films Market are DuPont Teijin Films (U.S.), SKC Co., Ltd. (South Korea), 3M (U.S.), Toray Industries Inc. (Japan), Berry Global Inc. (U.S.), Saint-Gobain (France), Eastman Chemical Company (U.S), Mitsubishi Chemical Corporation (Japan), and RKW SE (Germany) among others.
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The Global Industrial Films Market is segmented into Product Type and End User Industry.
On the basis of the Product Type, the market is segregated into linear low-density polyethylene (LLDPE), low-density polyethylene (LDPE), high-density polyethylene (HDPE), polyethylene terephthalate/bi-axially-oriented polyethylene terephthalate (PET/BOPET), polypropylene/bi-axially oriented polypropylene (PP/BOPP), cast polypropylene (CPP), polyvinyl chloride (PVC), polyamide/bi-axially oriented polyamide (BOPA), and others.
The market by the End-User Industry is further categorized into transportation, construction, industrial packaging, agriculture, medical, and others.
The Industrial Films Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be a dominant market with an encouraging CAGR during the forecast period. The rapid growth of industries and urbanization is fuelling the growth of Industrial Films in the developing countries of Asia Pacific. Moreover, favorable government regulation in the region has attracted many industry players to enter the lucrative market of Asia Pacific which in turn is fuelling the market growth. Furthermore, the presence of agricultural dependent countries such as India and China, has augmented the use of Industrial Films in agriculture sector owing to its ability to increase crop yield, reduce soil erosion, and enhance the quality of agricultural produce. In addition to this, the emergence of China as major country in the manufacture of industrial films will further add to the growth of the market.
North America is another dominant region in the market of Industrial Films. The developed end user industries such as construction, transportation and packaging among others are significantly driving the market growth. Moreover, the new elected government has brought in a new wave of investment in development and renovation of residential and commercial infrastructure which is expected to boost the demand for Industrial Films in the construction industry.
The European market is a lucrative market mainly driven by the developed healthcare, pharmaceuticals and the automobile industry. Moreover, the demand for Industrial Films in the packaging of food, electronics and other consumer goods is also propelling the market growth. In additon to this, the quality of Industrial Films in increasing yield of agricultural produce and enahncing crop protection has augment its use in the region owing to the depleation of arable land in the region. Furthermore, the high quality, durable and cost effective qaulities has also paved the way for Industrial Films in the developed automobile industry in the region. The major contries attribiting to the growth of the market are U.K, Germany, and France.
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