Specialty Films Market 2019 | Driving Factors, Industry Analysis, Investment Feasibility and Trends, Outlook -2023

Market Research Future (MRFR) announces a new release on the Global Specialty Films Market. According to the report, the Global Specialty Films Market is projected to exhibit a solid CAGR through the forecast period from 2018 to 2023 due to the growing demand for Specialty Films in the packaging, automotive, construction, aerospace, food and beverages, electronics, and agriculture industries.

Specialty Films are made from plastics and are used to enhance particular characteristics of surfaces or to protect items from environmental contaminants. They are coated with additives that enhance characteristics such as heat resistance, chemical resistance, and abrasion resistance. The growing Specialty Films Market is mainly driven by the growing demand for Specialty Films in the packaging sector. The growing demand for packaged food products is expected to be a major driver for the Global Specialty Films Market, as specialty films are majorly used in the packaging of food products. They help prevent contact with environmental contaminants such as dirt, keeping the food fresh for much longer. The rising urban population is likely to drive the global packaged food market over the forecast period, thus driving the specialty films market in the process.

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The growing use of technological innovations in the agriculture sector is likely to be a major driver for the Global Specialty Films Market over the forecast period, as specialty films are used in the agriculture sector for secluding the crops during fumigation, among other applications. The growing emphasis on maximizing the output of the agriculture industry through technological inputs is likely to drive the Global Specialty Films Market. The rising construction industry in emerging regions such as Asia Pacific is also likely to be a crucial demand driver for the Global Specialty Films Market over the forecast period.

Segmentation:

The Global Specialty Films Market is segmented based on Type of Film, Material, End-Use Industry and Region.

Based on Type of Film, the Global Specialty Films Market is segmented into barrier, decorative, microporous, antimicrobial, protective, and others.

On the Basis of Material, the Global Specialty Films Market is segregated into polyester, fluoropolymer, polyamide, polyolefin, polycarbonate, and others.

By End Use, Global Specialty Films Market is segmented into packaging, automotive, construction, aerospace, food & beverage, electronics, personal care and cosmetics, and others.

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Industry Updates:

In February 2019, Jet Technologies, a leading producer of Specialty Films and laminates, announced Stockman Paper Merchants as its distribution partner in Western Australia.

Regional Analysis:

The Global Specialty Films Market is segmented on the basis of region into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.

Asia Pacific is expected to dominate the Global Specialty Films Market over the forecast period due to the growing demand from the construction and packaging industries in the region. Specialty Films are being widely used as heat seals and vapor barriers in the construction and packaging industries, leading to steady growth of the market in the region. The rising use of Specialty Films for food packaging is likely to be a major driver for the Specialty Films Market in Asia Pacific. The demand for specialty films in food packaging is mainly driven by the growing urban demographic in Asia Pacific, which is a key consumer demographic for the packaged food industry. The growing adoption of hectic lifestyles by the urban youth population is likely to be a major driver for the Global Specialty Films Market over the forecast period.

Competitive Analysis:

Leading players in the Global Specialty Films Market include Saint-Gobain Performance Plastics, Berry Global Inc., SABIC, Toray Plastics Inc., Honeywell International Inc., Specialty Polyfilms Pvt. Ltd., Trico Specialty Films, Tufpak Inc., Amcor Limited, Covestro AG, Dow Chemical Company, Solvay SA, Bemis Company Inc., and Madico Inc.

Leading players in the Global Specialty Films Market are likely to up their efforts in advancing the development of biodegradable specialty films. The growing emphasis on the environmental viability of substances used in industrial and other human applications has led to the field of biodegradable specialty films emerging as a key growth driver over the forecast period.

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