The speciality films market is anticipated to grow from US$ 23.1 billion in 2022 to US$ 28 billion by the end of 2026. Presently, 16% of the packaging film market is made up of speciality film sales.
Over the next few years, it is projected that the global market for specialty films will grow significantly due to the growing need for innovative and high-performance films in a range of end-use sectors. As the market grows and matures, it is expected that more and more applications, ranging from packaging to electronic displays, will require speciality films.
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Speciality films are used extensively because of their distinctive qualities, which include high transparency, high strength, and high temperature resistance. They are a versatile and important material in modern industries. These films are employed in a variety of tasks, such as packaging, printing, laminating, and building. Speciality films are growing more and more well-liked on the global market because to their distinctive qualities and adaptability, and this trend is anticipated to last in the upcoming years.
The market for specialty films is expanding as a result of the rising demand for environmentally friendly and sustainable packaging options. Companies are looking for ways to lower their carbon footprint and make their packaging more environmentally friendly as people become more aware of the effects of packaging waste on the environment. In the packaging sector, specialty films with low carbon footprints or composed of biodegradable materials are becoming more and more well-liked, and this trend is anticipated to continue in the years to come.
Key Specialty Films Market Takeaways and Projections
- The U.S. is expected to lead the North America Specialty Films Market, projecting the fastest growth in the region between 2022 and 2026
- Asia Pacific region will dominates the specialty films industry and is expected to increase significantly throughout the forecast period.
- Latin America and the Middle East & Africa are expanding at a slower pace than others, the existing market position is projected to alter over the forecast period
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Competitive Landscape
The strictness of industry regulatory authorities towards the usage of polymerized, non-degradable materials is a major barrier in the manufacturing of specialised films. Environmental issues have grown as the number of specialty films abandoned openly has increased. Furthermore, the single-use nature of these films limits the extent of specialised film recycling and reuse.
Bemis Company, Koninklijke DSM N.V., The Mondi Group, Borealis AG, Amcor Ltd., Sealed Air Inc., Selenis Portugal S.A., Saudi Arabia Basic Industries Corporation (SABIC), Bischof + Klein SE & Co., and 3M Company are among the leading specialty film companies.
Majority of businesses are expected to increase the production of specialty films with improved chemical resistance. With the growing presence of food and beverage industries in APAC, several prominent players in the global specialty films market are projected to expand their manufacturing capacities by establishing manufacturing plants in China, South Korea, and India.
Key Players:
- Bemis Company
- Koninklijke DSM N.V.
- The Mondi Group
- Borealis AG, Amcor Ltd.
- Sealed Air Inc.
- Selenis Portugal S.A.
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Key Segments Of Specialty Films Industry Survey
Specialty Films Market by Product:
- Stretch Films
- Shrink Films
- Barrier Films
- Conductive Films
- Safety & Security Films
- Anti-fog Films
- Other Films
Specialty Films Market by Material:
- Polyethylene (PE) Specialty Films
- Polyethylene terephthalate (PET) Specialty Films
- Polyamide (PA) Specialty Films
- Polypropylene (PP) Specialty Films
- Polyvinyl Chloride (PVC) Specialty Films
- Polyurethane (PU) Specialty Films
- Aluminium Specialty Films
- Others (Evoh, Polycarbonate, etc.)
Specialty Films Market by End Use:
- Food & Beverages
- Cosmetics & Personal Care
- Chemicals
- Agriculture
- Building & Construction
- Pharmaceuticals
- Electrical & Electronics
- Automobiles
- Others
Specialty Films Market by Region:
- North America Specialty Films Market
- Latin America Specialty Films Market
- Europe Specialty Films Market
- East Asia Specialty Films Market
- South Asia & Pacific Specialty Films Market
- Middle East & Africa (MEA) Specialty Films Market
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