Functional Films Market to Reach US$ 54.29 Billion, Globally, by 2033 at 7.2% CAGR

The functional films market is anticipated to expand its roots at a steady CAGR of 7.2% between 2023 and 2033. The market is anticipated to cross a market share of US$ 54.29 billion by 2033, while it is likely to be valued at US$ 27.09 billion in 2023.

  • Advanced packaging solutions, along with the introduction of biocompatible and biodegradable material in functional film production, are leading the market. Furthermore, the long-range of applications such as emulsions, laminations, food and beverages, and packaging industry.
  • The use of electronic films on smart devices, such as device lamination, along with the application of its usage on glass, is increasing the demand for functional films demand. Vendors are focusing on delivering reliable, flexible, and protective functional films demand for the end users.
  • The latest carbon dot biopolymer-based functional films are being used in antioxidant and food monitoring applications. Its property includes UV-resistant polymeric thin films.
  • The advanced flexible hard coat films are also popular in the market as they add scratch resistance, flexibility, and excellent hardness to the product surface.

Download a sample to obtain additional highlights and key points on various market segments and their impact in the coming years @ https://www.futuremarketinsights.com/reports/sample/rep-gb-603

Key Points

  1. The United States market leads the functional films market in terms of sales volume in North America. The market holds a market share of 12.6% in 2023. The market growth is attributed to the restoration of e-commerce, packaging solutions, and innovative functional film solutions.
  2. The Indian functional films market leads the South Asia market in terms of CAGR with a leading CAGR of 3.8% between 2023 and 2033. The regional growth is attributed to growing awareness among people about the hazardous effects of UV rays coupled with the higher penetration of e-commerce giants in the region. As brands build their warehouses in the region, the requirement for different sorts of packaging has increased.
  3. The Chinese functional films market on the other side flourishes at a CAGR of 8.2% between 2023 and 2033. The higher foreign investment, center for smart device technologies, and advanced packaging solutions are increasing the regional hold.
  4. By product type, optical films are leading with a market share of 25.0% in 2023. Its demand is increasing with the widening electronics and electrical circuits market. These films help the electronic circuits against corrosion.

Competitive Landscape

The key players are working to produce functional films that are bio-degradble and nature-friendly. The introduction of electronic film among increasing functional film demand is also driving the competitor’s strategy. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are Toppan Printing Co. Ltd, 3M, Dai Nippon Printing Co Ltd, Toyo Ink SC Holdings Co Ltd, Gunze Ltd, Toray Industries Inc, SABIC, Panasonic Corporation, Covestro Ag, Mondi Plc, Innovia Films, Dupont Films, Saint Gobain, and Polifilm Gmbh.

Recent Market Developments

  • Mondi plc has introduced its modern functional films such as high-barrier industrial films for form-fill-seal (FFS), bag-in-box barrier films, and decorative films. The company claims to deliver flexible and protective solutions.
  • 3M has launched its pain protection film, blackout film, exterior trim film, and body contrast film. These films cover different applications including automotive, electronics, and food packaging.

Grow your profit margin with FutureMarketInsights – Buy the report! https://www.futuremarketinsights.com/checkout/603

Key Segments

Product Type:

  • Optical film
  • Coating film
  • Adhesive film
  • Conductive film
  • Reflection Films

End-use Industry:

  • Automotive
  • Food & Medical Packaging
  • Renewable
  • Printing & Packaging
  • Other Industrial

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia-Pacific
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified 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.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedInTwitterBlogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com

 

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these