The FMI survey on the functional films market offers insights into primary factors impacting the growth trajectory. The report also presents comprehensive demand outlook, identifying growth opportunities across key segments in terms of product type, and end use industry.
Future Market Insights (FMI), Dubai: As per a study conducted by FMI, the global functional films market is expected to surpass a valuation of US$ 47 billion by the end of 2031. Thanks to the increasing applications across various industries such as the automotive, and printing & packaging industries among others, the market for functional films is estimated to exhibit growth at a CARG of 7.2% over the forecast period, from 2021 to 2031.
The market is gaining momentum on account of the rise in usage of functional films in the automotive industry. Some of the leading vehicle manufacturers are increasingly using these films for covering various automotive parts such as car interior, automotive displays, lightings, and transmission systems among others. Surging car production will therefore fuel the demand for functional films in the coming years.
These trends are expected to steer manufacturers towards innovations for increasing functional films application across diverse sectors. For instance, Toppan Printing Inc. a Tokyo-based company developed new fire extinguishing films, which respond to the heat emitted by the aerosol particles.
These films are targeted towards increasing their applications in the batteries and electrical appliances sector. Such developments in the market are expected to creating lucrative growth opportunities across various sectors.
East Asia is likely to dominate the global market for functional films. Owing to the high demand from steadily expanding industries such as automotive and consumer electronics, the East Asia market is projected to account for a nearly 40% of overall sales by the end of 2021.
“The rising demand for newly synthesized and environmentally-friendly films with high-performance, produced using bio-resource polymers will bolster the market growth over the assessment period,” says a FMI analyst.
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Key Takeaways from Functional Films Market Survey
Discover more about the functional films market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/ask-question/rep-gb-603
Leading companies operating in the functional films market are aiming at launching new products and collaborating with other market players to expanding the production as their key strategies. For instance,
Some of the key players operating in the functional films market profiled by FMI are:
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More Valuable Insights on Functional Films Market
FMI, in its new report, offers an unbiased analysis of the global functional films market, analyzing forecast statistics through 2021 and beyond. The study reveals growth projections on in the functional films market with detailed segmentation:
Key Questions Covered in the Functional Films Market Report
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