Market Size – USD 5.22 billion in 2018, Market Growth – CAGR of 7.3%, Market Trends – Increasing use in packaging applications
The global polyester film market is expected to reach USD 9.92 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the growing application of polyester films amongst the end-user industries.
Polyester films find widespread application as a lamination substrate, as it offers exceptional durability, oxygen barrier, and heat resistance. Also, when laminated on other specific materials, it provides a robust UV protection and water barrier. Polyester films are considered safe for the packaging of food products as compared to other conventional materials. It is less susceptible to contamination, along with pilferage, thereby increasing the shelf-life of food products. Polyester films offer an aesthetic appeal to the food items and are beneficial for branding purposes. Moreover, films made from polyester can be recycled and reused.
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The application of polyester films in the electrical & electronic industry is likely to boost market demand in the upcoming years. Polyester films are often used to cover, seal, and insulate delicate, pressure-sensitive underwater cables, microelectronic components, and PCBs (Printed Circuit Board). It is also deployed to cater to a diverse range of thermal, physical, and electrical properties. They shield electronic products by providing exceptional adhesive and dielectric properties, along with excellent water, solvent, and temperature resistance.
Further key findings from the report suggest
• By product type, packaging application contributed to the largest market share in 2018 and is projected to grow at a rate of 7.2% in the forecast period. The polyester films are utilized to produce food containers and beverage bottles, among others. Polyester is the most commonly used plastic material for thermoforming packaging designs owing to its high-strength barrier that can provide better resistance to outside tampering or other elements.
• By industry vertical, the pharmaceutical industry is projected to grow at the fastest rate of 8.1% in the forecast period. Polyester is a para-crystalline material that provides an excellent barrier, printability, clarity, and hardness properties. Film-forming and orientation of polyester augments for the making of thin profile webs with exceptional properties for implementation in flexible packaging.
• The market in the North American region held the second-largest market share in 2018 and is forecasted to witness a growth rate of 6.7% in the forecast period. The market dominance of this region may be attributed to shifting consumer preferences and an increase in demand from the end-use industries.
• Key participants include Mitsubishi Polyester Films Inc., Polyplex Corporation, Toyobo Co. Ltd., Kolon Industries, HuanYuan Plastic Film Co. Ltd., Ester Industries Ltd., Sumilon Polyester Ltd., Toray Plastics, Cosmo Films Ltd., and Impak Films USA, among others.
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For the purpose of this report, Reports and Data have segmented the global polyester films market on the basis of product type, application, industry vertical, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
• < 15 microns Polyester Films
• 15-30 microns Polyester Films
• 30-60 microns Polyester Films
• > 60 microns Polyester Films
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
• Food & Beverage
• Electrical & Electronics
Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
• North America
• Asia Pacific
• Latin America
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