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 share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
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.
What is industrial films?
Industrial films help provide chemical resistance and adaptability to harsh environments. They are produced from the extrusion of polymer materials, such as polyethylene, polypropylene, polyethylene terephthalate (PET), and polyamide. They aid in enhancing crop quality and productivity by minimizing soil erosion, increasing soil temperature, providing nutrients and protection from UV rays, rain, and wind, or suppressing weed growth. They offer durability, versatility, flexibility, protection, improved safety and efficiency, and cost effectiveness. They are used to streamline manufacturing processes by reducing the need for additional materials, such as adhesives and coatings. They are commonly available in various widths, thicknesses, and colors, depending on the specific application. They can also be customized with specific additives to enhance their properties, such as UV stabilizers, flame retardants, and antistatic agents.
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What are the growth prospects and trends in the industrial films industry?
Rapid urbanization, growing global population, declining arable land, and increasing food security concerns are driving the demand for industrial films to improve crop yield. This, coupled with the rising demand for high-quality food grains and significant growth in the agricultural sector, represents one of the major factors bolstering the growth of the market around the world. Moreover, industrial films are employed in the food and beverages (F&B) industry for storing and protecting various fast moving consumer goods (FMCG) from moisture, contamination, heat, and ultraviolet (UV) radiations, and ensuring longer shelf life and maintaining the nutritional profile.
Along with this, the increasing preference for ready to eat (RTE) food products on account of hectic lifestyles and the expanding purchasing power of individuals, is contributing to the market growth. In addition, there is a rise in the use of industrial films in the construction industry as it requires a minimal quantity of paint and cement and offer a smooth texture to the ceiling. It is also used for vapor barriers, roofing and flooring membranes, and insulation films that help limit leakage and prevent buildings from high and low temperatures. The growing construction activities in residential, commercial, and industrial areas are also influencing the market positively.
Apart from this, the rising usage of industrial films in the automotive industry to reduce glare and heat and improve the comfort of drivers and passengers is creating a positive outlook for the market. Furthermore, the advent of biodegradable industrial films that are made using bio-based and renewable materials on account of the increasing environmental concerns and the rising need to minimize the dependency on fossil resources is favoring the growth of the market.
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
Market 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. and Unitika Ltd.
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