Global Industrial Film Market - 2021-2028

Global Industrial Film Market - 2021-2028

Industrial Film Market Overview The global industrial film market size was worth US$ YY million in 2020 and is estimated to reach US$ YY million by 2028, growing at a CAGR of YY % during the forecast period (2021-2028). Industrial films are the type of plastic film that provides a moisture barrier, outstanding durability, and chemical resistance and adaptability to harsh environments, dimensional stability, and consistent quality. Industrial films are generally produced by using polymeric materials such as polyethylene, polypropylene, polyethylene terephthalate and polyamide. These polymers are then extruded to form films. They are widely used in automotive & transportation, building & construction, agriculture, medical, electrical & electronics and other industries Bi-axially oriented films have become the fastest-growing type of film. The manufacturing process is responsible for their distinct nature and superior characteristics. The market demand for bi-axially oriented films is driven by their wide use in industrial packaging applications, backed by their excellent processability and adhesion to adhesives & coatings. Industrial Film Market Dynamics Growing demand of bi-axially oriented films drive the industrial film market Bi-axially oriented films have become the fastest-growing type of film. The manufacturing process is responsible for their distinct nature and superior characteristics. These films are stretched in both transverse direction and machine direction to design them with desired properties such as an excellent combination of mechanical, optical, thermal, and physical characteristics; transparency; chemical stability; and electrical insulation. The market demand for bi-axially oriented films is driven by their wide use in industrial packaging applications, backed by their excellent processability and adhesion to adhesives & coatings. The rising demand has encouraged market players to invest in their product line. For instance, on May 28, 2021, Cosmo Films Ltd. announced launching a product that can kill viruses & bacteria on cloths in the next 8-10 days. Moreover, in June 2020, Innovia Films launched a new family of highly functional recyclable BOPP films named Encore, manufactured from renewable non-food-based raw materials, helping to reduce the use of fossil-based virgin raw materials. The film range has the same properties as equivalent fossil-based BOPP film. The increasing use of agricultural films is expected to drive the market. The utilization of plastic films in agriculture has been developing over the years, inferable from advantages, for example, protection of nature of farming produce and improvement in crop creation amount. Diminishing arable land, changing climate conditions, and developing interest in food because of the expanding populace drive the interest for agricultural films. They help in further developing yield quality and usefulness by limiting soil disintegration; expanding soil temperature; giving supplements, giving assurance from UV beams, downpours, and wind; empowering seed germination, and smothering the development of weeds. These benefits have prompted the expanding prominence of films at the worldwide level. Further developing principles of cultivating across the globe, combined with the expense effectiveness of this innovation over customary cultivating strategies, have also increased rural movies' use. Moreover, there are innovations and developments in agricultural films. For instance, Near-Infrared Radiation (NIR) blocks NIR of the Sun in tropical areas to give a cooling effect to crops), UV-blocking films protect crops from diseases and pests, and fluorescent films that convert UV radiation to different colors such as red or blue to optimize plant growth are expected to influence the demand for agriculture films in the future positively. Stringent environmental and governmental regulations Guidelines and proposed restrictions on plastics influence the deals of plastic films. A few demonstrations and guidelines have been carried out across the globe to make tough principles against plastic waste and reusing of plastic materials. In the U.S., the reusing of plastic materials is managed by natural laws, for instance, the Solid Waste Disposal Act, the Ocean Dumping Act, and the Resource Conservation and Recovery Act. In 2012, China forced 'Tasks Green Fence' coordinated at restricting ill-advised reusing works on prompting ecological contamination. Moreover, each state in the U.S. has enhanced color limits for auto movies in front side windows, going from a high VLT (Visible Light Transmission) of 88% in California to a low of 24% in Washington. Car window films introduced on window glasses keep VLT from entering the vehicles. Consequently, the utilization of these movies is confined in a few nations, inferable from street wellbeing, brutality, and different reasons Industrial Film Market Segment Analysis Based on technology, the industrial film market is categorized into LDPE, LLDPE, HDPE, BOPET, BOPP, PVC and others. LDPE film is a low-density polyethylene film. The variety of LDPE film resins have evolved to match the myriad applications for specific large markets for LDPE films. A few examples of resins that work only for specific LDPE plastic film applications are – dry cleaner bags, paper towel overwrap, bread bags and shipping sacks. The driving factor of the LDPE films market is the high heat-seal strength of the LDPE plastics and the low heat energy necessity for fixing the LDPE films. For instance, LDPE's low heat seal temperature is around 66°C for LDPE. Solid dampness obstruction given by the LDPE films is another factor that has driven the interest internationally for the creation of straightforward monolayer sacks to weatherproof the essential item. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the LDPE films market globally. For instance, Dunmore announced today the introduction of a new bright metalized polyethylene (PE) film product. The new film has a print receptive surface that is compatible with various printing inks and formats. The metalized LDPE film can be used for products including packaging, labels and other graphics applications. Industrial Film Market Geographical Analysis Based on the geography, the Industrial Film market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa. The Asia-Pacific region addresses the biggest market and is additionally expected to be the quickest developing business sector attributable to the expanding utilization from nations like China, India, and Japan. Developing agriculture, building and construction, packaging businesses in countries such as China, India, and Japan are required to drive the interest in mechanical films in the district. China is positioned as the top agrarian creation country on the planet. The agricultural area in the nation has been filling quickly as of late. Furthermore, the public authority has been taking drives for the foundation of worldwide collaboration to push forward green improvement in the horticultural business and rustic districts through the headway of science and innovation. The bundling business in China has seen outstanding development, with the expanding pattern of express conveyances. With the development in mechanical and FMCG items, the packaging request has been expanding, which would lift the interest for the market concentrated in the coming years. Also, India is one of the biggest makers of farming items worldwide. Developing interest in wheat, rice, leafy foods, sugarcane, cotton, and oilseeds, alongside rising metropolitan and rustic earnings, boosts Indian farming creation. Industrial Film Market Competitive Landscape The Industrial Film market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include INDEVCO Plastics Longview, LLC, RKW SE, Fujifilm Holdings Corporation., Cosmo Films Ltd., MITSUBISHI CHEMICALS HOLDINGS CORPORATION, EASTMAN CHEMICAL COMPANY, SAINT-GOBAIN S.A., BERRY GLOBAL GROUP, FlexFilms, Innovia Films among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Industrial Film market globally. INDEVCO Plastics Longview, LLC Overview: INDEVCO Plastics Longview, LLC is an industrial manufacturing company of sustainable plastic films and bags. The company is a division of INDEVCO North America and INDEVCO Group. Product Portfolio: INDEVCO Plastics Longview, LLC offers high-performance flexible packaging solutions. The company specializes in plastic film extrusion for Open Mouth Bags, PE Roll Stock films, Shrink Bundling Film, and more. Key Developments: • In February 2021, INDEVCO Plastics Longview, LLC introduced new recyclable industrial films and bags that contain up to 50% recycled resin. Last month, the company launched a recyclable Shrink Bundling Film that contains 50% post-consumer recycled (PCR) resin for the beverage and processed food industries. Why Purchase the Report? • Visualize the composition of the industrial film market segmentation by type, application, end-user and region highlighting the key commercial assets and players. • Identify commercial opportunities in industrial film market by analyzing trends and co-development deals. • Excel data sheet with thousands of data points of industrial film market - level 4/5 segmentation. • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. • Product mapping in excel for the key product of all major market players The global industrial film market report would provide an access to an approx. 61 market data table, 60 figures and 180 pages. Target Audience • Service Providers/ Buyers • Industry Investors/Investment Bankers • Logistic Companies • Supply Chain Companies • Emerging Companies • Manufacturers • Distributors