Future Market Insights conveys key experiences on the UV stabilized films market, in its as of late distributed report named, ‘UV Stabilized Films Market: Global Industry Analysis 2014-2018 and Opportunity Assessment 2022-2029’.
As far as income, the worldwide UV stabilized films market is projected to extend at a worth CAGR of more than 5% during the gauge time frame, attributable to various elements, in regards to which, FMI offers careful experiences and estimates in this report.
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The worldwide UV stabilized films market has been divided based on item type, material sort, thickness, innovation, application, and end-use industry. The worldwide UV stabilized films market is expected to extend 1.7x as far as market esteem toward the finish of 2029.
Expanding at a CAGR of 5.1% from 2022 to 2029, the global UV stabilized films market is set to rise from a valuation of US$ 32.7 Bn in 2022 to US$ 46.8 Bn by the end of 2029.
Non-bundling Applications Account for Multiple Revenue Generation Channels
An UV stabilized film is a multi-facet film that ingests, disperses, or reflects bright radiations and shields items from noticeable light debasement. UV stabilized films are utilized for bundling and non-bundling end-use businesses in different applications like printing, cover, modern, and bundling applications. Makers working in the UV stabilized films market offer these films in thickness ranges like up to 20 microns, 20 to 40 micron, 40 to 50 micron, and 50 microns and above. Advancements utilized for UV stabilized film producing are attachment overlay and co-expulsion covering. UV stabilized films are getting momentum in adaptable bundling applications for saving newness, variety, and improving the stylish appearance of bundled items. Alongside this, UV stabilized films increment the time span of usability of the items.
Market Attractiveness of South & East Asia Remains Intact
As indicated by the regional analysis of market, East Asia is expected to account for nearly one-third of the total market value share in the global UV stabilized films market by the end of 2029 and is anticipated to expand at a value CAGR of over 7% during the forecast period.
India is one of the leading contributors of UV stabilized films in the East Asian UV stabilized films market, which was valued more than US$ 700 Mn in 2018. Key players in the South Asian market such as Uflex Ltd., Jindal Poly Films, and others are expanding their production to cater to the increasing demand for UV stabilized films in the global market. The South Asian market is anticipated to expand at a substantial growth rate during the forecast period.
The total incremental opportunity represented by East Asia is relatively high as compared to other regions in the global UV stabilized market. The burgeoning demand for UV stabilized films from the building & construction industry is expected to further boost the sales of UV stabilized films in the region. After the East Asian region, Europe is another attractive market for UV stabilized films.
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This is attributed to the presence of well-established players in the region, which suffice the rising demand for UV stabilized films. The European market is expected to expand 1.4x of its current value by the end of the forecast period.
China is anticipated to expand at a value CAGR of over 8% during the period 2019-2029. Thailand and Indonesia are expected to represent cumulative incremental opportunity of approximately US$ 0.35 Bn by the end of 2023. The South Asian UV stabilized films market by non-packaging end-use industry is estimated to be valued nearly US$ 1.3 Bn by the end of 2019, and is projected to expand at a CAGR of above 7% during the forecast period.
Company profiles of key market participants that have been profiled in the report on the UV stabilized films market include Uflex Ltd., Mitsubishi Polyester Film, Inc., Toray Plastics (America). Inc., DuPont Teijin Films U.S. Limited, Polyplex Corporation Ltd., Terphane LLC, Toyobo Co., Ltd., Ester Industries Ltd., RKW SE, Sigma Stretch Film Corp., Coveme Spa, Kolon Industries, Inc., Elif Plastik Amb. San. Tic. A.Ş, Group Michiels Advanced Materials, Walco Corporation, Vampire Optical Coatings, Inc., Custom Extrusion Technologies, Inc., Arid Agritec Ltd, FVG Folien-Vertriebs GmbH, and Kangde Xin Composite Material Group Co., Ltd. (KDX).
COVID-19 Impact Analysis
In the first quarter of 2020, the world was plagued with a new pandemic, and coronavirus infections spread rampantly across the world. This was a pandemic of proportions that was never expected and came as a shock to the world economy, which took a major hit in the year 2020.
Markets crumbled and business activity across the globe was hampered due to lockdown mandates that restricted crucial activities. The world almost came to a standstill, and majorly, manufacturing facilities were shut down due to lack of availability of raw materials and the absence of workers.
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Sales of UV stabilized films saw a drop in 2020 as manufacturing was restricted for a large amount of time, and disruptions in the supply chains also created a demand and supply gap that resulted in a negative impact on the market.
However, as the world bounces back to normalcy in the post-pandemic era and business activities return to normal operating procedures, shipments of UV stabilized films are expected to see a rise at a steady pace.
Consumption of UV stabilized films is also expected to increase as the production capacity of manufacturing facilities is further bolstered to recover the losses suffered by UV stabilized film companies during the initial phase of the pandemic.
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