Global Specialty and High Performance Film market is expected to expand at a CAGR of 6.5%, 2017 – 2025

Posted on 2017-07-21 by COHERENT MARKET INSIGHTS in Chemicals // 0 Comments

Seattle, WA, 2017-Jul-21 — /EPR Network/ — Polymer films with transparent or opaque are known as specialty and high performance films. The basic raw materials for production of specialty and high performance films include polyesters, fluoropolymers, and polycarbonates. High chemical resistance and excellent mechanical strength fuel demand for specialty and high performance film. The specialty and high performance film market is expected to expand at a CAGR of 6.5%, in terms of revenue from 2017–2025. Rampant growth of construction, packaging, automotive, and food & beverage end-use industries in both developed and emerging economies creates a conductive environment for growth of the specialty and high performance films market. Among product types, polyester film segment accounts for major share in the market, while polycarbonate segment is expected to witness significant growth over 2017-2025. Stringent government regulations and increasing environmental concern is expected to be one of the key challenges for specialty and high performance films. Moreover, rapid investment in R&D to develop biodegradable products such as paper & cardboard, corn starch, bubble wrap, and biodegradable plastics is expected to create new opportunities for players in the global specialty and high performance films market. For instance, in July 13, 2016, AIMPLAS developed a new biodegradable packaging for cheese and pasta, at an investment of US$ 1.63 million.

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Market Dynamics

The last decade has witnessed a steady rise in global awareness about cutting down on carbon emissions. This in turn has led to heightened awareness among the general populace and governments alike towards adoption of greener and renewable sources of energy. Solar energy being the most widely available and feasible source of energy, has led to rampant growth f other solar energy industry. Specialty and high performance films are used in photovoltaic cell used in solar systems. Stringent environmental regulations, for instance in 2005, EPA implemented policy to lower the airborne mercury up to 7% by 2018, from coal fired power plant. Moreover with increasing consumer inclination towards off-grid power solutions is fueling growth of the solar energy industry. This in turns creates a highly favorable growth scenario for the global specialty and high performance films market. Furthermore, volatility of crude oil price has a positive impact on renewable energy sources, which is expected to fuel growth of the electronics and semiconductors industry. Increasing urbanization and mall culture in cities is in turn leading to burgeoning growth in owing the demand for packaged and disposable food products. This creates high demand for meat packaging and vacuum packaging, which would fuel growth of the barrier films segment in the market. Moreover, the growing demand for specialty and high performance film in automotive industry to protect sunroof, windows, windshields, and dashboard is expected to augment market growth.

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Rising construction and renovation activities in developing countries includes China, India and Brazil is augmenting the market growth. Rapid urbanization owing the demand for specialty and high performance film in the construction sector which includes to protect the buildings from sunlight, UV, and safety & security is propelling the market growth. Moreover, North America and Europe are projected to witness growth in the construction sector, due to continuously increasing infrastructure renovation activities in the region. These factors would collectively support growth of the market.

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