Global Technical Films Market to Reach US$ 64.5 Billion by 2033, Driven by Increasing Demand for Lightweight Materials in Automotive and Aerospace Industries

The global technical films market is poised for substantial growth, with a projected value of US$ 38.5 billion in 2023. Increasing focus on safety and protection, coupled with the demand for lightweight materials in industries such as automotive and aerospace, is expected to drive the market, which is projected to grow at a compound annual growth rate (CAGR) of 5.3% between 2023 and 2033, reaching around US$ 64.5 billion by 2033.

Key Market Trends:

  • Demand for Lightweight Materials: The increasing demand for lightweight materials in industries such as automotive and aerospace has been a significant driver for the adoption of technical films. These films offer high strength-to-weight ratios, making them ideal for applications that require both strength and reduced weight.
  • Automotive Industry Application: In the automotive industry, technical films help manufacturers meet stringent fuel efficiency and emission regulations by replacing heavier traditional materials with lightweight films. This leads to improved fuel economy, reduced emissions, and enhanced performance, agility, and handling characteristics of automobiles.
  • Aerospace Industry Application: In the aerospace industry, where weight reduction is critical for aircraft performance, technical films play a vital role. By utilizing lightweight films in aircraft components, such as interior panels, seating, and structural elements, manufacturers can achieve weight savings without compromising strength or safety. This contributes to fuel savings, extended range, and increased payload capacity.

Request Sample Report:  https://www.futuremarketinsights.com/reports/sample/rep-gb-4807

Industries such as automotive, aerospace, and transportation are increasingly focused on reducing weight to improve fuel efficiency and reduce emissions. Technical filmss are lightweight and offer high strength-to-weight ratios, making them valuable in weight reduction efforts. Aircraft interiors, and transportation infrastructure, manufacturers can achieve significant weight savings without compromising performance, by replacing heavier materials with technical filmss in applications such as automotive components, thereby fueling market growth.

The electronics industry continues to witness rapid advancements, with increasing demand for smaller, more efficient, and high-performance electronic devices. Technical filmss find applications in electronic components such as displays, printed circuit boards (PCBs), and semiconductor packaging. The demand for specialized technical filmss that offer properties like electrical insulation, thermal management, and protection against moisture and environmental factors is expected to grow, as the electronics industry drives miniaturization, enhanced functionality, and performance.

Key Takeaways from the Market Study

  • Global technical films market was valued at US$ 36.6 billion by 2022-end.
  • From 2018 to 2022, the market demand expanded at a CAGR of 2.8%.
  • United Kingdom is expected to hold a dominant CAGR of 5.2% during the forecast period.
  • By films type, the target segment is expected to constitute a CAGR of 5.2% in 2033.
  • On the basis of end-use industry, food & beverage segment is expected to dominate the market with a CAGR of 5.1% in 2033.
  • From 2023 to 2033, technical films market is expected to flourish at a CAGR of 5.3%.
  • By 2033, the market value of technical films is expected to reach US$ 64.5 billion.

Growing healthcare and medical sector, across the globe is a major factor that is expected to propel the growth of the technical films market in the near future, remarks an FMI analyst.

Competitive Landscape

Recent Developments:

  • In 2020, 3M launched a new line of high-temperature polyimide filmss, called 3M™ Polyimide Films Electrical Tape, which offers excellent electrical insulation and thermal resistance properties. The filmss are used in applications that require reliable electrical insulation, such as in the automotive, aerospace, and electronics industries.
  • Mondi Group Plc introduced the RetortPouch in October 2021, featuring a high barrier technical films. The innovative mono-material solution from the company offers an ideal packaging solution for various food applications.
  • In March 2020, Berry Global Group, Inc., a prominent manufacturer of technical stretch filmss, made a significant investment of around US$ 30 million to expand production capacity in several North American locations. The investment was specifically focused on increasing the production capacity for ultra-high performance stretch filmss, catering to the growing demand in the market.

Competitive Scenario: 

  • Saudi Arabia Basic Industries Corporation (SABIC),
  • Borealis AG,
  • Selenis Portugal S.A.,
  • Vizelpas,
  • Floter Verpackungs Service GmbH,
  • HYPAC Packaging Pte Ltd.,
  • Bioplast,
  • Futamura Chemical Co. Ltd.,
  • Polifilm GmbH,
  • Perlen Packaging AG,
  • HAFLIGER Film Spa,
  • Kuhne Anlagenbau GmbH,
  • Idealplast Srl and
  • Cassioli Srl

Get In Touch With Our Team For 20% Flat Discount

Global Technical Films Market: Aspects Impacting Growth

Expanding demand for packaged food triggering the demand for technical films, sustained growth in building and construction, increasing demand for anti fog films for fresh produce applications, growing inclination towards high performance surface protection material, growing emphasis on manufacturing of smaller pack size barrier packaging and staggering growth in the electronics market are pushing the growth of the global technical films market.

However, lack of competency in manufacturing technology for technical films and non-availability of feed stock coupled with shortage of technological equipment and machinery for flexible barrier packaging are posing hindrances to the global market’s growth.

Global Technical Films Market: Segmental Snapshot

The global technical films market is segmented on the basis of film type, end use industry, material type, thickness type and region.

  • By film type , the barrier film segment is estimated to reach a huge valuation of more than US$ 22 Bn by the year-end assessment. The safety and security film segment is projected to grow at a comparatively high-value CAGR of 6.5% during the period of forecast.
  • By end use industry , the food and beverage segment is expected to be the largest in terms of market share and is likely to dominate the global market. The building and construction segment is poised to significantly contribute to the market value of the global technical films market.
  • By material type , the polypropylene segment is projected to grow at the fastest pace to register a value CAGR of 6.6% during the period of forecast. The polyethylene segment is expected to reflect a high market valuation by the end of the year of assessment.
  • By thickness type , 50-100 microns are largely preferred. This segment is expected to have a large market share and is estimated to reach a value more than US$ 17 Bn by the end of 2027.
  • By region , Asia Pacific excluding Japan (APEJ) is a highly lucrative regional market presenting huge growth opportunities for technical films. The specialized film market in the APEJ region is anticipated to reach a high market valuation and is projected to grow at the highest rate during the period of forecast.

Purchase Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges:  https://www.futuremarketinsights.com/checkout/4807

Technical Films Market By Category

By Film Type:

  • Stretch Film
  • Shrink Film
  • Barrier Film
  • Conductive Film
  • Safety & Security Film
  • Anti-Fog Film
  • Other Technical Films

By Material:

  • Polyethylene (PE)
    • LDPE
    • LLDPE
  • Polyethylene terephthalate (PET)
  • Polyamide (PA)
  • Polypropylene (PP)
  • Polyvinyl Chloride (PVC)
  • Ethylene vinyl alcohol (EVOH)
  • Polyurethane (PU)
  • Aluminum
  • Polycarbonate (PC)
  • Others

By Thickness Type:

  • Up to 25 microns
  • 25-50 microns
  • 50-100 microns
  • 100-150 microns
  • above 150 microns

By End Use Industry:

  • Food & Beverage
  • Cosmetic & Personal Care
  • Chemical
  • Agriculture
  • Building & Construction
  • Pharmaceutical
  • Electrical & Electronic
  • Automobile
  • Others

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

Matched content

Editor’s pick

Express Press Release Distribution