The speciality films market is poised for rapid growth, with a projected compound annual growth rate (CAGR) of 4.9% between 2022 and 2026. The increasing demand for speciality films, particularly in the food and pharmaceutical packaging sectors, is a significant driver behind this expansion.
Barrier films, a type of speciality film, offer enhanced protection against moisture, oxygen, and other environmental factors. They play a crucial role in extending the shelf life of products and preserving their quality, addressing the growing importance of food safety and product integrity. Consequently, the demand for barrier films is experiencing a significant increase.
The market for speciality films also benefits from the rising demand for insulation and conduction films. These films act as efficient thermal and electrical insulators in industries such as construction, automotive, and electronics. The adoption of advanced technologies and the demand for energy-efficient solutions contribute to the increased need for conduction and insulating films. Continuous improvements in the qualities and effectiveness of these films are expected to further drive their market share in the coming years.
Based on projections, the market value for speciality films is expected to rise from US$23.1 billion in 2022 to US$28 billion by the end of 2026. This upward trend reflects the growing significance of specialised films in the overall packaging films market. Speciality films already account for 16% of the global packaging films market, highlighting their increasing importance.
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As businesses become more aware of the benefits provided by speciality films, such as enhanced product protection and performance, the market share of these films is anticipated to continue expanding. Manufacturers are expected to invest in research and development to innovate and introduce new and improved film formulations that cater to the rising demand for specialised films. This may involve the creation of films with higher heat resistance, improved barrier properties, and increased environmental sustainability.
Furthermore, industry participants are likely to collaborate closely and form partnerships, facilitating knowledge sharing and the development of novel solutions. In the coming years, the speciality films market will continue to grow and innovate, adapting to the evolving packaging needs of various sectors
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.
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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.
Market Benefits
1.The study provides an in-depth analysis of the global specialty films market along with the current trends and future estimations to elucidate the imminent investment pockets.
2.The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
3.An extensive analysis of the market based on application assists in understanding the trends in the industry.
4.The report presents a quantitative analysis of the market from 2022 to 2026 to enable stakeholders to capitalize on the prevailing market opportunities.
Geographical Outlook:
Rising Food Industry Drives Specialty Films Market Expansion in the United States
The specialty films market in the United States is witnessing significant growth, primarily fueled by the expansion of the food industry. As the country is a large consumer of packaged food products, there is a high demand for food specialty films and packaging sheets. The rapid increase in food outlets further contributes to the growing attention towards specialty films in the United States.
To ensure food safety and high-quality packaging, the US Food and Drug Administration has established requirements that need to be met. The Division of Food Additive Safety and the Center for Food Safety and Applied Nutrition are responsible for enforcing these regulations. Additionally, the presence of major vehicle manufacturers in the United States also drives up the demand for specialty films.
Food and Electronics Industries Drive Specialty Film and Packaging Sheet Growth in China
In China, the specialty film and packaging sheet market is experiencing growth due to the strong presence of the food and electronics industries. China’s food processing sector is maturing and expanding, with a particular focus on packaged and processed frozen foods such as dairy products, baby food, and confectionery items. This trend creates a demand for specialty films and packaging sheets to meet the packaging requirements of these products.
The beverage sector in China is also witnessing a rise in popularity of healthy and natural ready-to-drink products like smoothies, juices, and yogurts. This, along with the increasing demand for processed fruits, pork, dairy, and specialized grains and legumes, drives the need for packaging solutions, contributing to the growth of the specialty film market.
Furthermore, China’s pharmaceutical industry is experiencing significant development due to factors such as a growing middle class, an ageing population, rising affluence, and urbanization. This expansion in the pharmaceutical sector leads to an increased demand for pharmaceutical packaging, including specialty films.
Additionally, as the world’s largest producer of electronic goods, China’s electronics industry plays a crucial role in driving the specialty film market. The production and export of electronic products, including smartphones, televisions, computer equipment, and gaming devices, create a need for specialty films for packaging and protection
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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
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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