Future Market Insights (FMI) has released an insightful report projecting substantial growth for the global technical films market. Valued at US$ 38.5 billion in 2023, the market is anticipated to expand at a CAGR of 5.3%, reaching US$ 64.5 billion by 2033. This growth is primarily fueled by increasing demands in the automotive and electronics sectors, where technical films play pivotal roles in enhancing performance, efficiency, and sustainability.
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Key Drivers of Market Growth
- Automotive Industry Advancements: Technical films are crucial in the automotive industry for achieving weight reduction in vehicles, thus meeting stringent fuel efficiency and emission regulations. These films offer high strength-to-weight ratios, enhancing vehicle performance, agility, and handling characteristics. They also provide additional functionalities such as impact resistance, noise reduction, and thermal insulation, further bolstering their value in automotive applications.
- Rise in Electric Vehicles (EVs): The rapid growth of EVs globally is significantly driving the demand for technical films. These films are essential in EV battery packaging for providing barrier properties against moisture, dust, and mechanical impacts. They are also utilized in thermal management systems to dissipate heat efficiently and maintain optimal operating temperatures. Additionally, technical films ensure reliable electrical insulation, preventing short circuits and ensuring safe operation of electrical components in EVs.
- Expanding Electronics Industry: The growing electronics industry, propelled by advancements in consumer electronics and smart devices, offers substantial opportunities for technical films. These films are integral in applications such as display films, printed circuit boards (PCBs), and insulation materials. They enhance display quality by providing anti-glare properties, anti-reflection coatings, and durability against scratches and damages. Moreover, technical films act as reliable insulation materials in PCBs, ensuring electrical insulation, thermal management, and protection against environmental factors.
Emerging Opportunities
Electronics Industry Growth:
- The expanding electronics industry, driven by advancements in consumer electronics, telecommunications, and smart devices, presents significant opportunities for technical films. These films are used in display technologies, printed circuit boards (PCBs), and insulation materials.
- In display technologies, technical films enhance display quality by providing anti-glare properties, anti-reflection coatings, and optical clarity. They also offer protection against scratches and fingerprints, increasing the durability of electronic displays.
- In PCBs, technical films provide electrical insulation, thermal management, and protection against environmental factors, ensuring reliable performance and preventing electrical failures.
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Country-wise Insights
The food and beverage industry in the United Kingdom stands as a formidable driver for the demand of technical films, particularly in packaging applications. With a substantial economic footprint, valued at approximately $120 billion in 2022, this sector constitutes a significant portion of the UK’s manufacturing landscape, comprising about 20% of the total sector. This economic vitality translates directly into a heightened requirement for packaging films, including technical films, bolstering market opportunities. Projections indicate an incremental opportunity of around $600 million for technical films in the UK market, with a forecasted compound annual growth rate (CAGR) of 5.2%. Similarly, in the United States, the construction industry’s robust $1 trillion valuation underscores substantial demand for technical films in various packaging applications, with an anticipated CAGR of 5.1%. These trends highlight how pivotal sectors like food and beverage and construction are pivotal in driving growth within the technical films market across both nations.
Competitive Scenario:
- Saudi Arabia Basic Industries Corporation (SABIC),
- Borealis AG,
- Selenis Portugal S.A.,
- Vizelpas,
- Floter Verpackungs Service GmbH,
- HYPAC Packaging Pte Ltd.,
- Bioplast,
- Futamura Chemical Co. Ltd.,
- Polifilm GmbH,
- Perlen Packaging AG,
- HAFLIGER Film Spa,
- Kuhne Anlagenbau GmbH,
- Idealplast Srl and
- Cassioli Srl
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Technical Films Market By Category
By Film Type:
- Stretch Film
- Shrink Film
- Barrier Film
- Conductive Film
- Safety & Security Film
- Anti-Fog Film
- Other Technical Films
By Material:
- Polyethylene (PE)
- LDPE
- LLDPE
- Polyethylene terephthalate (PET)
- Polyamide (PA)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Ethylene vinyl alcohol (EVOH)
- Polyurethane (PU)
- Aluminum
- Polycarbonate (PC)
- Others
By Thickness Type:
- Up to 25 microns
- 25-50 microns
- 50-100 microns
- 100-150 microns
- above 150 microns
By End Use Industry:
- Food & Beverage
- Cosmetic & Personal Care
- Chemical
- Agriculture
- Building & Construction
- Pharmaceutical
- Electrical & Electronic
- Automobile
- Others
About Future Market Insights (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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