The fibre film market is forecasted to exhibit a 4.1% CAGR through 2033. The industry’s size is predicted to increase from US$ 566.62 million in 2023 to US$ 846.85 million by 2033.
Surging Demand for Sustainably-evolved Packaging: New-age food and beverage’s key players are seeking sustainable packaging material that is in line with the eco-conscious concerns of businesses and customers alike. Consequently, driving demand for packaging material like fibre film helps reduce waste, decrease carbon footprint, and help corporates ensure social responsibility.
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Manufacturers are offering a multitude of performance options and barrier materials to develop packaging for snacks and confections, coffee, pet care, and more.
Crucial Highlights from the Fibre Film Market Analysis
- The surge of ready-to-eat, bakery items, snack foods, and frozen meals has propelled the food and beverage industry. This industry is expected to account for a significant market share in 2023.
- The automatic wrapping technology is anticipated to obtain a giant piece of the fibre film industry.
- Canada’s market is expected to witness heightened application of fibre films over the assessment period.
- India and China are expected to observe significant growth due to thriving end-use industries in the Asia Pacific.
- Australia is likely to emerge as a leading market for manufacturers of fibre film due to heightened investments in the home and personal care and food and beverages industries.
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Unraveling the Latest Developments
- In March 2023, Canatu Oy, a carbon nanomaterial developer, enhanced its carbon nanotube (CNT) film manufacturing to cater to the surging demand for ADAS heater goods in the automobile industry. Canatu has enhanced its step-and-repeat (SAR) CNT film production portfolio by incorporating new reactor capacity and raising the level of automation. Thus, enhancing the production speed and overall output.
- In March 2023, Rexis Biotech Inc. officially declared the approval and release of its fused polymorph nanofibre technology. This breakthrough has extensive applications across multiple industries like consumer-packaged goods, prodrug pharmaceutical medications, and research projects.
- In September 2022, Toyobo announced that it is establishing a new polyester packaging film plant. This facility might entail an investment of US$ 72 million to help the company serve the global demand for sustainable polyester films.
Key Segments Profiled in the Global Fibre Film Market Survey
By Technology
- Automatic Wrapping Fibre Films
- Handheld Fibre Films
By Thickness
- Fibre Films below 10 Microns
- Fibre Films between 10-50 Microns
- Fibre Films 50 Microns & Above
By End-use Industry
- Food & Beverages
- Pharmaceuticals
- Chemical & Fertilizers
- Home & Personal Care
- Other End-Use Industries
By Region
- North America
- Europe
- Asia-Pacific Except for Japan
- Latin America
- The Middle East and Africa
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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