Specialty and High Performance Films Market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2019 to 2025.
Market Outline: Specialty and High Performance Films Market
HPFs are thin films made from various polymer resins such as polyamide, polycarbonate, ethylene vinyl alcohol, and polyester. They are generally compounded and/or processed by a converter or the manufacturer. During the compounding process, different compounds are formed from the base resins by mixing additives and other materials to achieve the desired properties. After this, the compounds are generally formed into various shapes and sizes via extrusion or molding processes. Polyetheretherketone (PPEK), Polyimides, Polyacetal (POM), Polytetrafluoroethylene (PTFE) films, Polysulfone, Polyphenylene ether (PPO), PPS (TORILINA), Silicone films are a high-performance semi-crystalline film that exhibits high thermal and chemical stability, high abrasion and wear resistance, and outstanding mechanical properties over a wide temperature range. These class of films has also good resistance to combustion and good electrical performance. Certain grades are also approved for food contact. Typical applications include electrical insulation, loudspeaker membranes, and various thermoformed thin parts.
Market Dynamics: Specialty and High Performance Films Market
Rising demand for high tensile and durable packaging material is expected to drive product demand over the forecast period. Excellent mechanical strength and chemical resistance offered by these films is likely to open new avenues for the product market in construction, food and automotive applications. Growth of flexible packaging industry owing to its rising demand for decorative interiors and food & beverages is likely to have a positive impact on the market growth over the next eight years. However, stringent regulations against use of plastic materials coupled with rising environmental concerns are anticipated to pose as a barrier for the industry growth. R&D related to the development of bio-degradable and recyclable plastic materials is expected to open new avenues for the market growth over the forecast period.
Market Scope: Specialty and High Performance Films Market
Specialty and high performance films market is segmented based on material, film type and application
Based on material, market is segmented into the following:
Based on the film type, market is segmented into the following:
- Barrier films
- Safety & security films
- Decorative films
- Microporous films
Based on the application, the market is segmented into the following:
- Automotive & transport
- Electrical & electronics
Regional Analysis: Specialty and High Performance Films Market
Geographically, specialty and high performance films market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific Specialty and High Performance Films Market is estimated to be the largest market, accounting for more than half of the global market share, by value, in 2014. China dominated the Asia-Pacific HPF market in 2014, followed by Japan. India is the fastest-growing market for HPF, and is expected to surpass China in the near future. The high economic growth rate, growing demand for applications (such as packaging, automotive & transport, aircraft/aerospace, electrical & electronics, construction, and others), low-cost labor, and competitive manufacturing costs are the main factors boosting the growth of the HPF market in the Asia-Pacific region. North America and Europe Specialty and High Performance Films Market are expected to contribute to the demand for films in these regions. Moreover, the rising demand for packaged goods due to rising consumer awareness regarding hygiene is expected to drive the demand in this region. Growth of medical industry globally is expected to drive the demand for specialty and high performance films over the forecast period.
Competition Assessment: Specialty and High Performance Films Market
Some of the players in the specialty and high performance films market include:
- The 3M Company (U.S.)
- Dow Chemical Company (U.S.)
- Solvay S.A. (Belgium)
- Covestro (Germany)
- I. DuPont de Nemours and Company (U.S.)
- Evonik (Germany)
- Honeywell International Inc. (U.S.)
Notable Market Developments: Specialty and High Performance Films Market
Dow Chemical Company – proposed acquisition of Rohm and Haas Company