LONDON, May 21, 2018 /PRNewswire/ -- Growing need for
packaging solutions across a range of industrial verticals has
driven the demand for specialty films. These advanced packaging
films are becoming a key commodity as their role is pivotal in
keeping the product intact before it reaches the customer. Over the
years, the demand for specialty films has spurred on the account of
its growing applications, particularly in the food & beverage
industry. Manufacturers are partnering with packaging companies
that can provide the most effective specialty films, thereby
creating a reliable rapport in the global specialty films
competition landscape.
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global specialty films market
According to Future Market Insights, the global specialty films
market is poised to expand steadily at a CAGR of 4.9% during the
forecast period, 2017-2026. By the end of 2026, more than
US$ 56 Bn worth of specialty films
are expected to be sold in the world. The report also projects that
Asia-Pacific excluding
Japan (APEJ) region will represent
largest market for specialty films, and will account for over
one-third share of global revenues throughout the forecast
period.
Barrier Films to Remain in Great Demand through 2026
Flexibility and dynamic resistance against oxygen, water, light and
other external elements are some of the key functions of barrier
films that are driving their demand in the global specialty films
market. High barrier films are being predominantly used a flexible
packaging commodity. In 2017, more than US$
18 Bn worth of barrier films are poised to have been sold in
the global specialty films market. The demand for barrier films
will continue to gain traction through 2026, while conductive films
will register fastest sales at a CAGR of 7.1%.
Increasing Demand for PE Specialty Films in Food & Beverage
Industry
The report has further revealed that polyethylene materials will be
widely used in the production of specialty films. The abilities of
PE specialty films in providing durable packaging solutions and
utmost water resistance will continue to drive their demand,
particularly in the food & beverage industry. By 2026, nearly
US$ 20 Bn worth of specialty films
made from PE materials are expected to be sold in the global
market. Over the forecast period, food & beverage industry will
remain the largest end-user of specialty films. The report also
reveals that the end-use of specialty films in chemicals sector
will register fastest revenue growth at a CAGR of 6.2% during the
forecast period.
Global Specialty Films Market: Key Players
A key challenge in the production of specialty films is the
stringency of industrial regulatory bodies towards the use of
polymerized, non-degradable materials. Increasing incidences of
specialty films being dumped openly has created environmental
concerns. Moreover, single-use nature of these films limits the
scope of recycling and reusing specialty films.
Leading manufacturers of specialty films include, 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. These companies have been
extensively profiled in the report. A majority of the companies are
expected to boost the production of specialty films with higher
chemical resistance. With increasing presence of food &
beverage companies in the APEJ region, several key players in the
global specialty films market are likely to extend their production
capabilities by setting up plants in countries namely, China, South
Korea, and India.
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