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Industrial Films Market Size Forecast to Reach $58.87 Billion by 2025


Industrial Films Mar

iCrowdNewswire   Jul 17, 2020  5:11 PM ET

Industrial Films Market size is forecast to reach $58.87 billion by 2025, after growing at a CAGR of 4.35% during 2020-2025. Industrial films are polymeric materials used in various end use industries such as agriculture, industrial packaging, construction, and transportation to enhance the shelf life of goods and to prevent damage of products. With rise in the consumption of bi-axially oriented plastic films in packaging industry has escalated the demand for Industrial Films Industry.

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Type – Segment Analysis

The Linear Low-Density Polyethylene (LLDPE) held the largest share in the Industrial Films Market in 2019. Thinner films can be made from Linear Low-Density Polyethylene without reducing costs and abandoning strength. Globally about 80% of LLDPE is used in film applications such as multi-layer cast stretch film and food packaging. Also, Linear Low-Density Polyethylene is used in extrusion coating applications where it helps to protect the contents of liquid containers, primarily for paper and paperboard packaging.

End Use- Segment Analysis

Agriculture is the fastest growing end-user of Industrial Films Market by growing at a CAGR 3.99% during forecast period. Industrial films offer crop productivity and minimizes soil erosion leading to increase use of industrial films in the agriculture end use industry. The crops can also be protected from various climatic conditions using industrial films. In the last few years there has been a significant increase of films in agriculture which includes the greenhouse films, mulch films and silage & stretch films. Moreover, ongoing climatic changes, decreasing arable land across the globe and rising demand for food due to continuously increasing global population are the factors that are driving the demand for industrial films in the agriculture end-use industry.

Application – Segment Analysis

Barrier &breathable properties along with a wide range of end use applications are offered by Polymer coatings. Co-extrusion capabilities is used in Simple single-layer functional coating conventional substrate such as aluminum foils and metalized polyester to add barrier or functionality. Polyethylene films and laminates are used as barrier films in products such as baby diapers, incontinence diapers and surgical drapes in hygiene industry. Barrier film is soft, drape able, comfortable and safe. Also, itis breathable and reduces risk of skin irritations.

Geography- Segment Analysis

APAC holds the largest market share with a 56.28% in 2019, for Industrial Films Market, followed by North America and Europe. Packaging films made of plastic are generally cheaper for its light weight. Packaging films increases the shelf life of the products for longer duration. These are mainly preferred by consumers in various industry such as medical, construction and industrial packaging industries owing to its aesthetic appeal. In APAC region. China, India and Japan are the largest producer as well as the consumer of Industrial Films Market in the Asia Pacific region. Covid-19 pandemic affected the packaging industry considerably. Since, self-isolation policy has resulted in shortages of supplies and cancelations of events, supply chains are looking to shift away from China after delays in trade and distribution.

North America is the second-largest producer of Industrial Films Market led by US. The increasing use of Industrial films in medical industry for packaging of drugs in this region has anticipated the boost in the Industrial Films Market.

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Drivers – Industrial Films Market 

Bio-degradable films are prepared using polysaccharide and lipid materials. An increasing interest in the use of biodegradable films in packaging materials acts as an alternative solution to the environmental problems caused by the accumulation of non-degradable plastic packaging containers. Hence, considering the impact of plastic packaging towards the environment efforts has been made to develop edible films from biopolymers to produce an environmentally friendly packaging alternative to synthetic plastic packaging films.

Bi-Axially Oriented Polypropylene Films has excellent clarity and high transparency that gives it a fine look and excellent finish. Bi-Axially Oriented Polypropylene (BOPP) acts as a good moisture resistant barrier and can resist to harmful chemicals and pollution. Also, it produces less damage to the products due to transportation and weather conditions as compared to other industrial films.

Challenges –Industrial Films Market 

Polyvinyl Chloride is the third largest common type of plastic which is environmental damaging and is widely used in packaging films. PVC has been labeled as the poison plastic by Greenpeace Organization. According to the World Health Organization (WHO), Polyvinyl Chloride releases a high toxic chemical called Dioxin when it ends up in landfills and harms the marine life. The production of Polyvinyl Chloride is highly demanding and it produces a huge amount of chemical pollutants.

Acquisitions/Technology Launches

Key Takeaways

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Industrial Films Market. In 2020, the market of Industrial Films has been consolidated by the top five players accounting for xx% of the share. Major players in the Industrial Films Market are 3M, Cosmo Films, Dunmore Corporation DuPont, DuPont Teijin Films, Eastman, Inteplast Group., Jindal Poly Films, Kolon Industries,Bemis Company Inc., Mitsubishi Chemical Holdings Corporation, Mitsui Chemicals Tohcello, Polyplex, Raven Industries, RKW SE, Rogers Corporation, Sigma Plastics Group, Solvay, The Chemours Company, Toyobo, Treofan Group, Trioplast Industrier AB, among others.

Related Reports :

Breathable Films Market

https://www.industryarc.com/Report/16464/breathable-films-market.html

Rotogravure Printing Inks Market

https://www.industryarc.com/Report/16519/rotogravure-printing-inks-market.html

 

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