The report offers other vital information related to industry annual sales, regional market outlook, product portfolios, application ranges, shifting consumer tastes & preferences, changing production & consumption patterns, volatile demand & supply graphs, and key industry statistics. The report expounds on the competitive scenario of the Industrial Films market and evaluates the current position of each market player using analytical tools including SWOT analysis, Porter’s Five Forces analysis, and Capacity Utilization analysis.
The global industrial films market size is expected to reach USD 57.48 Billion in 2028 and register a revenue CAGR of 4.7% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by increasing demand for industrial films from the agriculture industry. Wide applications of greenhouse films, mulch films, silage films, low tunnel films, soil sterilization and fumigation films, films for protection and packaging, and films for lining water reservoirs in the agriculture industry is expected to continue to boost revenue growth of the global market during the forecast period. Declining availability of arable land and increasing demand for food globally are other key factors driving demand for enhanced crop productivity and yield, which in turn, is augmenting demand for a variety of agricultural films. Rising usage of plastic mulch in agriculture applications due to benefits such as reduced weed pressure, increase in soil temperature, reduction of certain insect pests and infestations, moisture conservation, higher crop yield, and more efficient use of soil nutrients are some other key factors positively impacting market growth. Rising demand for plastic films in medical applications is also projected to augment market growth to a significant extent during the forecast period. The inherent suitability of Polyvinyl Chloride (PVC) for sterilization makes it well-suited for use in medical tubing, which often comes in direct contact with patient skin or bodily fluids. Rising concerns regarding need to reduce environmental contamination caused by plastic mulches is boosting demand for biodegradable plastic mulches currently, as these function as an environmentally sustainable alternative to conventional polyethylene mulch.
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Major players in the market include:
Saint-Gobain, Berry Global Group, SKC Co., Ltd., Toray Industries, Inc., Eastman Chemical Company, RKW Group, 3M, Mitsubishi Chemical Holdings Corporation, Solvay, and Kolon Industries.
Some Key Highlights From the Report
- In April 2021, Berry Global Group announced an investment of over USD 70 million in order to support continued growth in consumer packaging films, primarily for eCommerce and food and beverage applications. The investment is expected to support the manufacture of new multi-layer blown film lines along with upgrades of the infrastructure. The new film lines are projected to support the anticipated increased customer demand for recycled content. The investment would help the company in expanding its product portfolio, which would aid customers in meeting their sustainability goals.
- Linear Low Density Polyethylene (LLDPE) segment is expected to account for largest revenue share in the global industrial films market over the forecast period owing to its higher tensile strength. Higher impact and puncture resistance offered by LLDPE in comparison to Low-Density Polyethylene is expected to drive its demand among agriculture and industrial packaging industries over the forecast period.
- Agriculture segment is expected to account for a considerably robust revenue share in the global industrial films market going ahead. Rising need to enhance crop productivity is driving demand for agricultural films, including greenhouse films, mulch films, silage films, low tunnel films, soil sterilization and fumigation films, films for protection and packaging, and film for lining water reservoirs.
- The Industrial films market in Asia Pacific is expected to account for largest revenue share over the forecast period. Growth in building & construction and industrial packaging industries in countries such as Japan, India, and China are resulting in increasing demand for industrial films, and the trend is expected to continue over the forecast period.
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For the purpose of this report, Reports and Data has segmented the global industrial films market based on type, end-use industry, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Low-Density Polyethylene (LDPE)
- Linear Low Density Polyethylene (LLDPE)
- Polyethylene Terephthalate (PET)
- High-Density Polyethylene (HDPE)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
End-use Industry Outlook (Revenue, USD Billion; 2018-2028)
- Industrial Packaging
- Building & construction
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
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