As per the recently published report by MarketsandMarkets™, The “Polyester Film Market by Type (Biaxially oriented, thermal film, metalized film, holographic film, UV stabilized, matte film, barrier film), Application (packaging, electrical insulation, imaging), End Use Industry, and Region – Global forecast to 2028 “, is projected to reach USD 44.2 billion by 2028, at a CAGR of 6.2% from USD 32.7 billion in 2023. The polyester films market is primarily driven by the growth of the packaging industry, where polyester films are widely used for flexible packaging and labels. Additionally, the increasing popularity of flexible packaging, driven by consumer preferences for convenience and sustainability, contributes to the demand for polyester films. Other key factors include their application in electronics, solar energy, labeling, and industrial uses, as well as their presence in the textile, automotive, and construction sectors.
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- 150 Market data Tables
- 67 Figures
- 200 Pages and in-depth TOC on “Polyester Film Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The major players in Polyester Film market include DuPont Teijin Films (US), TORAY INDUSTRIES, INC. (Japan), Mitsubishi Polyester Film GmbH (Germany), Kolon Industries, Inc. (South Korea), ESTER INDUSTRIES LIMITED (India), Jindal Films Limited (India), Terphane LLC (US), TOYOBO CO. LTD.,(Japan), Polyplex Corporation Limited (India) and others.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Polyester Film market.
Recent Developments in Polyester Film Market Industry
- Ester Industries Limited acquired the engineering plastics business of RadiciGroup of Italy in a deal worth €35 million ($37 million) in 2023. The acquisition was made through Ester Industries’ subsidiary, Ester Engineering Plastics Limited. The acquisition of RadiciGroup’s engineering plastics business gives Ester Industries a strong foothold in the Indian engineering plastics market.
- Also in 2021, DuPont Teijin Films announced the expansion of its manufacturing plant in Florence, Kentucky, to increase production of its Mylar® polyester film. The expansion is expected to be completed in 2023 and will create 50 new jobs.
- Ester Industries Limited, a leading manufacturer of polyester films in India, and Covestro AG, a leading global supplier of polymer materials, have partnered to develop and commercialize sustainable polyester films. The partnership will focus on developing polyester films that are made from recycled materials or renewable resources, and that have a lower environmental impact than traditional polyester films. The two companies will also work together to develop new applications for sustainable polyester films.
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Based on type, Polyester Film market has been segmented into Biaxially oriented, thermal film, metalized film, holographic film, UV stabilized, matte film, barrier film and others. The Biaxially oriented segment is the largest market share in value during the forecast period as it offers wide and different applications in various industries. Biaxially oriented polyester (BoPET) film, often referred to as Mylar or PET film. BoPET is a versatile and widely used material due to its various beneficial properties, including excellent tensile strength, dimensional stability, transparency, and resistance to moisture and chemicals.
Based on application, In terms of value, the global Polyester Film market is divided into packaging, electrical insulation, imaging, industrial laminates, and agriculture, among others. Polyester films are the most widely used packaging material in the world, representing over 60% of global demand, primarily due to their exceptional properties. These films are renowned for their impressive strength and durability, making them the preferred choice for packaging items that require protection from potential damage during transit and storage.
The Asia-Pacific region is the largest market for polyester film due to its rapid industrialization, economic growth, booming population, and urbanization. The region’s increasing urbanization has led to evolving lifestyles and greater consumption of packaged goods, while Asia-Pacific’s status as a global manufacturing hub, with cost-efficient production and significant technological advancements, makes polyester film a popular choice for a wide range of industries. This, coupled with the region’s competitive manufacturing costs, has contributed to the extensive use of polyester film in various applications, particularly in packaging, within the Asia-Pacific market.
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