The report “Industrial Films Market by Film Type (LLDPE, LDPE, HDPE, PET/BOPET, PP/BOPP, CPP, PVC, Polyamide/BOPA), End-Use Industry (Agriculture, Industrial Packaging, Construction, Medical, Transportation), & Region – Global Forecast to 2028″, is estimated to be USD 43.1 billion in 2022 and is projected to reach USD 55.8 billion by 2028, at a CAGR of 4.4% between 2023 to 2028. The rising demand from emerging economies and the growing trend toward sustainability are creating growth opportunities for the industrial films market. However, stringent environmental and government regulations and volatile raw material prices act as restraints to the growth of the global industrial films market.
Browse
- 234 Market data Tables
- 42 Figures
- 228 Pages and in-depth TOC on “Industrial Films Market – Global Forecast to 2028”
Some of the prominent key players are:
- Saint-Gobain (France)
- Berry Global Group (US)
- SKC Co., Ltd (South Korea)
- Toray (Japan)
- Eastman Chemical Company (US)
- 3M Company (US)
- Mitsubishi Chemicals Holdings Corporation (Japan)
- RKW SE (Germany)
- DuPont Teijin Films (US)
Driver: Capitalizing on urban-industrial boom
The global surge in industrialization and urbanization has had a pronounced impact on the industrial films market. The World Bank data showcases that from 2000 to 2021, the global urban population grew by over 50% to roughly 4.4 billion, catalysing expansive construction activities, both residential and commercial. This urban boom inherently drives the demand for industrial films used in construction for applications like surface protection and lamination.
Restraint: Adapting to changing regulatory landscape
Over the past few years, increased environmental awareness has resulted in governments across the globe implementing stricter regulations concerning the production, use, and disposal of industrial materials, including films. For the industrial films sector, this means that the materials traditionally used in manufacturing, many of which are non-biodegradable, have come under scrutiny. As countries aim to achieve their sustainable development goals and align with international environmental accords, such as the Paris Agreement, industries are facing increased pressure to reduce their carbon footprint and limit the use of materials that could harm the environment.
Asia Pacific is projected to account for the highest CAGR in the industrial films market during the forecast period
APAC is estimated to be the largest market for industrial films and is also projected to register the fastest CAGR of 5.82% during the forecast period. China is expected to account for the largest share of the market in APAC till 2028. China’s significant industrial growth and urbanization are mainly driving the industrial films market in the country. The emergence of China as a global manufacturing hub has increased the demand for industrial films. The increasing usage of agricultural films to boost crop production on account of the rapidly growing population in the country is further encouraging market growth.
