Market Scope
Market Research Future (MRFR) studied the global industrial film market 2021 for the review tenure till 2027. As per MRFR assessment, the global industrial film market is expected to witness 4% CAGR over the forecast period (from 2019 to 2027). By 2027, the industrial film market is expected to value at USD 62.15 Bn.
Market Drivers and Restrains
The surge in the utility of industrial films as packaging films for affluent end-users, such as; construction, transportation, agriculture, and medical among others is expected to favor the industrial film market. Industrial films are polymers and help in boosting transportation efficiency and shelf life of perishable goods by preventing product damage, deterioration, and wastage of products. Increase in urban migration, along with globalization are other causes that are expected to benefit the industrial film market in the near future. The expansion of agriculture sector and the need for stretch films and silage films are creating the need for bio-based films, thus boosting sales of biodegradable industrial films that can add momentum to the market in the foreseeable future. On the contrary, price fluctuation of feedstocks and the ongoing trend of recycling non-biodegradable plastics are likely to pose major threats to the industrial film market growth.
Market Segmentation
The segment study of the global Industrial Films Market is based on end user industry and product type. The product type-based segments of the industrial films market are low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), polyethylene terephthalate/bi-axially-oriented polyethylene terephthalate (PET/BOPET), high-density polyethylene (HDPE), cast polypropylene (CPP), polypropylene/bi-axially oriented polypropylene (PP/BOPP), and polyvinyl chloride (PVC), polyamide/bi-axially oriented polyamide (BOPA), among others. The segment of linear low-density polyethylene (LLDP) product segment is expected to led the global market owing to better puncture resistance and tensile strength properties of LLDP. The surge in its utility in bags, liners, shipping sacks, envelope films, and candy wrap among others can add to the surging traction of LLDP.
The end-user industry-based segments of the industrial films market are industrial packaging, transportation, agriculture, construction, and medical among others. The industrial packaging segment is likely to register the highest CAGR by 2027. The rapid growth of the packaging user segment can be attributed to high clarity, cost effectiveness, and high melting point of Polypropylene/bi-axially oriented polypropylene (PP/BOPP) making it suitable for sterilization applications.
Regional Analysis
In Asia Pacific, the industrial film market anticipated to be the fastest-growing regional market in terms of size and volume throughout the forecast period. This growth in the region is principally attributed to the fast manufacture supported by government policies and initiatives. Moreover, growing agriculture sector is another issue expected to fuel the market growth during the forecast period.
In North America, the command the second-largest share within the industrial film market in 2019, crystal rectifier by the US. This growth in the region is attributed to the region having the most important pharmaceutical industry, that consumes industrial films at a major rate for packaging of medicine used for human and animal medicine. For instance, in 2019, the pharmaceutical export in the US was valued at USD 40.5 million.
Europe industrial film market upsurge can be attributed to the thriving transportation business owing to the adoption of services to safer delivery goods. Additionally, the rigorous governmental & environmental regulation, limiting the use of non-biodegradable plastics, and compelling the makers to adopt bio-based polymers in industrial films is predicted to form a remunerative chance for the bio-based industrial film manufacturers throughout the forecast period.
In the Latin America region, the industrial film market can witness rapid growth owing to the expansion of the agriculture sector of the region, exploitation these films in applications reminiscent of greenhouse, mulch films, provender and stretch films, silage sheets, and drip irrigation pipes.
In MEA, the market of industry films is expected to grow at steady pace due to the contribution towards the economic film market as a result of increasing construction activities and growing transportation sector within the region.
Key Players
TOYOBO Co., Ltd (Japan), TEKRA (US), Mondi (Austria), DuPont de Nemours, Inc. (US), MURAPLAST d.o.o. (Croatia), Transcendia (US), HiFi Industrial Film Limited (UK), Mitsui Chemicals Tohcello.Inc. (Japan), Bogucki Folie (Lithuania), FUJIFILM Corporation (Japan), pely-plastic GmbH & Co. (Germany), UNITIKA Ltd (Japan), LINTEC EUROPE (UK) Limited (UK), TAGHLEEF INDUSTRIES GROUP (Dubai), and Supreme mill stores (India) are some key companies in the global industrial films market that are listed by MRFR in the report.
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