Specialty Films Market – Overview
The market for specialty films is highly application driven. Growth of flexible packaging industry owing to its rising demand in construction due to increased aesthetic values and food & beverages is likely to have a positive impact on the market growth over the next five years.
Specialty films manufacturers are witnessed investing in the advanced technology. Vendors are developing environmental-friendly specialty films because of implementation of stern environmental regulations and increasing awareness of sustainable development.
Furthermore the increasing demand for packaged food products is expected to drive the growth of the global Specialty Films Market. The demand for packaged food items has spiked in the Asia Pacific region. The reason is attributed to the growing dependence on the ready-to-eat products, and mushrooming of online retail and brick and mortar retail outlets.
The expansion of industrial base in China, India, and Brazil have led to the utilization of such tapes across the industries such as electronics, food & beverages, automotive, and aviation. Also, the countries have witnessed investment in terms of new facilities for the production of such films, as these countries offer low labor costs and ease of business.
Amcor ltd., Covestro Inc., Dow Chemical Inc., DuPont USA, Honeywell International Inc., Sealed Air Inc., 3M Company, Eastman Chemical Inc., Jindal Poly Films Inc., Evonik Industries Inc. are some of the prominent players at the forefront of competition in the global specialty films market and are profiled in MRFR Analysis.
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Specialty Films Market – Competitive Analysis
Characterized by the presence of several well-established along with medium and small players, the global market of specialty films appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. In order to maintain the position and share in the market, major players have adopted certain strategies.
In August 2017, The Max Speciality Films introduce a unique combination of impenetrable barrier properties with WVTR* of less than 0.2 g/sqm/24 hr and an outstanding seal strength* of 900-1400 gm/25mm. In addition to high barrier level, films have outstanding seal performance in terms of seal strength, hot-tack and seal integrity. The major application areas would be food packaging and personal care packaging.
In May 2017, Corrosion inhibitor specialist Cortec Corp. announced expansion plans. It is spending USD 5 million to upgrade and to expand recycling at its film extrusion operation in Cambridge, Minn. Cortec will install a plastics recycling operation at Cambridge that will take back used VpCI film from customers and recycle it into new VpCI film. The Cambridge plant has been recycling scrap generated in¬house for many years and it will add more floor space to accommodate the anticipated influx of returned, spent film.
Sealed Air Corporation announced a price increase on all products in its North American Product Care division. The increases will be effective Sept. 1, 2017. The price adjustments are the result of escalation in resin costs of more than 7% since the start of the year, with more than 9% of additional increases expected to be announced in the near term.
Global Specialty Films Market – Segments
Segmentation By Material: Comprises – polyesters, nylons, polyolefin, and others
Segmentation By Application: Comprises – Electronics, Construction, Food & beverages, Personal Care and Others
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Specialty Films Market – Regional Analysis
The Asia-Pacific region dominated the global specialty films market in 2016. It is also expected to be the fastest growing region for the specialty films. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region. China is one of the leading markets in the Asia-Pacific region. Growth in retail sector is expected to fuel the demand of such tapes. Moreover, the country has witnessed increased investment in the technology which has resulted in various products across the films line.
North America has also witnessed steady growth in the market in last many years. The market is expected to show similar growth in coming time. This along with concentration of many companies in the specialty films industry has led to the growth of the market.
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