Specialty Films Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Specialty Films Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global specialty films market size reached US$ 39.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 55.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Specialty films refer to flexible, extensible, high-performance polymers (HPP) that comprise various types of resins, including polyesters, ethylene vinyl alcohol (EVOH), polyvinylidene chloride, nylons, and fluoropolymers. They offer better flex crack resistance, heat-celling, superior adhesion, and high tensile strength at cost-effective prices, due to which they are deployed for conduction and insulation purposes and protecting the products against external contamination. At present, the specialty films are commercially available in varying types, such as stretch, shrink, conductive, and barrier.

Specialty Films Market Trends:
The widespread adoption of specialty films across various industrial verticals, such as packaging, personal care, electronics, transportation, pharmaceutical, and construction, on account of the increasing demand for heat-resistant packaging solutions, is one of the key factors primarily driving the market growth. Specialty packages are further utilized in the food and beverages (F&B) sector for storing and protecting various fast-moving consumer goods (FMCG) from moisture, contamination, heat, and ultraviolet (UV) radiations, while ensuring longer shelf life and maintaining the nutritional profile. Moreover, the extensive utilization of biaxially oriented polypropylene (BOPP) as a raw material for manufacturing flexible packaging films is also contributing to the market. Additionally, the rising environmental concerns amongst the consumers have prompted the government bodies of various countries to promote the usage of biodegradable packaging solutions. Biodegradable packages aid in minimizing greenhouse gas (GHG) emissions, petroleum consumption, and the amount of waste being produced, which, in turn, is supporting the market growth. Apart from this, strategic collaborations amongst key players and the escalating investments in the research and development (R&D) activities to engineer technologically advanced specialty film materials are creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global specialty films market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on resin, function and end use industry.

Breakup by Resin:

Polyester
Nylon
Polyacrylamide
Fluoropolymer
Polyimide
Polyolefin
Others

Breakup by Function:

Barrier
Conduction and Insulation
Microporous
Safety and Security
Others

Breakup by End Use Industry:

Packaging
Personal Care
Electrical and Electronics
Transportation
Construction
Medical

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Avery Dennison Corporation, Covestro AG, DuPont de Nemours Inc., Evonik Industries AG, Honeywell International Inc., Inteplast Group Corporation, Kaneka Corporation, Mondi plc, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Toray Industries Inc. and Ube Industries Ltd.

Key Questions Answered in This Report

1. What was the size of the global specialty films market in 2022?
2. What is the expected growth rate of the global specialty films market during 2023-2028?
3. What has been the impact of COVID-19 on the global specialty films market?
4. What are the key factors driving the global specialty films market?
5. What is the breakup of the global specialty films market based on the resin?
6. What is the breakup of the global specialty films market based on the function?
7. What is the breakup of the global specialty films market based on end use industry?
8. What are the key regions in the global specialty films market?
9. Who are the key players/companies in the global specialty films market?