Increasing focus on sustainability and adoption of novel technologies among leading players who are actively involved in the packaging sector are expected to amplify the function films sales.
Surging demand of functional films for various application within diverse end-use sectors such as packaging, automotive and chemical industry is expected to drive the demand for functional films in the upcoming decade. According to a study by Future Market Insights (FMI), key players are focusing on developing renewable sources of energy within solar cell industry improving the demand for functional films.
Properties such as resistance from harsh weather condition, and flame resistance are promoting the use of functional films in solar cells industry. Rising demand from the medical and packaging industry for food & medical supply packaging is improving the growth of functional films. Leading players are focusing on developing sustainable and environment-positive technologies by heavily investing in research & development to necessitate heavy demand for sustainable films within packaging industry.
Furthermore, rapid increase in the production and consumption of coating and adhesives films, heavily used in the packaging industry is propelling the growth of functional films. Heavy demand of coating films from plastics industry across China, Germany and UK are expected to provide favorable returns for the functional film manufacturers.
“Manufacturers are heavily investing in developing green and sustainable technology to facilitate the rising demand from packaging and chemical industry,” remarks the FMI analyst.
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Future Market Insights has listed some of the prominent market players for the global functional films market which includes Toppan Printing co. Ltd., 3M, Dai Nippon Printing Co. Ltd., Toyo Ink SC Holdings Co Ltd., Gunze Ltd., Toray Industries Inc., SABIC, Panasonic Corporation, Covestro AG, Mondi PLC, Innovia Films, DuPont Films, Saint Gobain and Polifilm GmbH. According to FMI, with the market being hghly competitive, product positioning and collaborations remains core strategies for leading payers.
For instance, in September 2020, Dunmore announced the launch of a new polyester based scratch resistant antimicrobial film product. This Dun-Shield film offers scratch resistant features, with durable surface and longer shelf life.
Also, in March 2020, Imaflex Corporation, announced the clearance of its next generation crop protection film, ADVASEAL which is a time-saving and cost effective alternative for soil disinfection.
Furthermore, in October 2020, Protection Pro, by Madico announced the launch of new antimicrobial screen protection film called Microbe-X.
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More Insights on FMI’s Functional Films Market
Future Market Insights, in its new offering, provides an unbiased analysis of the functional films Market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the functional films market with a detailed segmentation on the basis of product type (optical film, coating film, adhesive film, conductive film, and reflection films), end-use industry (automotive, food & medical packaging, renewable, printing & packaging, and other industries), and across major regions (North America, Latin America, Europe, East Asia, South Asia-Pacific, and Middle East & Africa).
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