IMARC Group, a leading market research company, has recently releases report titled “Industrial Films Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global industrial films market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Industrial Films
Industrial films represent specialized plastics that provide chemical resistance and improved adaptability to harsh environments. They can be of numerous types, such as low-density polyethylene (LDPE), high-density polyethylene (HDPE), polyamide, polyethylene terephthalate (PET), polypropylene (PP), polyvinyl chloride (PVC), etc. These industrial films ensure enhanced waterproofing, clarity, and durability and facilitate protection from ultraviolet (UV) radiation. Consequently, they find extensive applications across various sectors, including medical, automotive, transportation, construction, agriculture, electrical, electronics, etc.
How Big Is the Industrial Films Market?
The global industrial films market size reached US$ 41.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.
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What are the growth prospects and trends in the industrial films industry?
The elevating product demand from the agriculture industry to minimize soil erosion, optimize soil temperature, supply nutrients to the crops, and protect them from rain, wind, and harmful UV rays is primarily driving the industrial films market. Besides this, the launch of innovative products, such as near-infrared radiation (NIR)-blocking films, fluorescent films, UV-blocking films, etc., is also positively influencing the market growth.
Moreover, the rising need to adopt high-productivity farming practices, owing to the decreasing volumes of arable lands across the globe and the rapid urbanization, is acting as another significant growth-inducing factor. Additionally, the shifting preferences toward flexible and transparent bi-axially oriented films that offer excellent thermal, physical, and mechanical characteristics, brilliant electrical insulation, and adequate chemical stability are further stimulating the global market.
Apart from this, the growing utilization of the product in the formulation of cover films for electronic gadgets, the inflating investments in research and development (RD) activities conducted by key players, and the escalating sales of smart devices, especially in developing countries, are expected to propel the industrial films market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Linear Low-Density Polyethylene (LLDPE) and Low-Density Polyethylene (LDPE)
- High-Density Polyethylene (HDPE)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polyamide
- Others
Breakup by End Use Industry:
- Agriculture
- Industrial Packaging
- Building and Construction
- Healthcare
- Transportation
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Berry Global Inc.
- Bogucki Folie
- Compagnie de Saint-Gobain S.A.
- Cosmo Films Limited
- Dupont Teijin Films US
- Inteplast Group Corporation
- Jindal Poly Films
- Mitsui Chemicals Tohcello Inc. (Mitsui Chemicals Inc.)
- Polyplex Corporation Limited
- SKC Co. Ltd.
- Toray Industries Inc.
- Toyobo Co. Ltd.
- Unitika Ltd.
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