HOLOGRAPHIC FILMS MARKET ANALYSIS

Global Holographic Films market was valued at US$ 9,833.6  Mn in 2022, exhibiting a CAGR of 9.88 % over the forecast period (2023 to 2030) and is expected to reach US$ 20,895.8 Mn by 2030. The holographic film is a very thin and flexible plastic film, which is basically micro-embossed with patterns or even images. Patterns are created on the film is done by the embossing process to provide 3-D effect and/or spectral (rainbow) coloring.

Global Holographic Films Market- Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 outbreak has majorly impacted the global holographic Films market negatively, owing to the strict lockdown and stringent regulations, followed by the government, and thus there was a decrease in demand for holographic films. Moreover, the production process of the holographic films is disrupted due to social distancing and a lack of manpower. In addition, the market for holographic films has been impacted by political and economic developments in addition to the pandemic. For instance, the industry may be impacted by international trade disputes, alterations in governmental regulations, and variations in exchange rates. Although growing demand for holographic films after COVID-19 is expected to witness significant market growth during the forecast period.

Figure 1. Global Holographic Films Market, by Material Type, 2022

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Global Holographic Films Market - Growth Drivers

• Growing packaging industry

The growing packaging industry is a prime driver factor propelling the market growth of Holographic film over the forecast period. According to the Economic Times, the market size of India's packaging industry is expected to reach US$ 72.60 billion by 2020 on an account of the rising population and income levels. Therefore, the rising demand for holographic film from packaging industry is expected to propel market growth over the forecast timeframe.

• Growing demand for security code embossed in films

The growing demand for security code, which is embossed in the films is expected to accelerate the market growth of the holographic film. The rising threat of counterfeit products across various industries ranging from pharmaceuticals to cosmetics is creating demand for an effective anti-counterfeit technology and holographic films are one of the solutions for producing security code. Hence, growing demand for security code is expected to propel the market growth over the forecast period.

Global Holographic Films Market - Restraints

• Fluctuating prices of raw materials

Fluctuating prices of raw materials prices, which are used for the production of holographic films such as Polyethylene terephthalate (PET), polyethylene (PE), and Poly Propylene (PP) is expected to hinder the market growth in the upcoming forecast period. Fluctuation in price of crude oil is directly impacting the production of film manufacturers, as raw materials are derived from crude oil. Hence, such fluctuation is expected to restrict the market growth of holographic films over the forecast timeframe.

• Equipment for the holographic film is complex and expensive

The equipment for the holographic film is very complex and expensive and also limited by laboratory conditions, which are projected to hinder the market growth of holographic films. Moreover, the production process for the holographic film is also very complex especially generating patterns in the films. This factor is expected to restrict the market growth of holographic film over the forecast period.

Market Opportunities

• Rising demand for holographic polyester films from the textile industry

Rising demand for holographic polyester films from the textile industry where it can also be chopped into glitter or powder and then used on textile products is expected to foster the market growth of holographic film. Moreover, holographic film is also gaining huge demand from the food & beverages industry for labeling of food products, and is further anticipated to augment the market growth of Holographic film over the forecast period.

• Growing demand for holographic film from the printing industry

Growing demand for holographic film from the printing industry, especially in digital printing is estimated to stimulate market growth over the forecast period. Additionally, the growing demand for the holographic film from lamination and gift wrapping applications is also expected to foster market growth over the forecast timeframe. Furthermore, rising usage of holographic film for chocolate packaging and wine and other liquor is further expected to fuel the market growth.

Market Trends

• Growing focus of manufacturers to increase the investment in the development of more holographic film

The growing focus of manufacturers to increase the investment in the development of more holographic film is a major trend that has been observed in the market and this trend is expected to augment the market growth. For instance, in May 2017, API has increased its holographic foil and film manufacturing capabilities after completing a recent US$ 0.54 million investment at its Livingston facility in Scotland, U.K. Such investments will favor the market growth in the near future.

• Increasing launch of anti-counterfeiting packaging film by major players

Increasing launch of anti-counterfeiting packaging film by major players is expected to foster the market growth of holographic film in the near future. For instance, in June 2016, DuPont Advanced Printing (DuPont) has launched a new anti-counterfeiting film that it says is “revolutionary” in terms of enhanced security for packaging applications. New DuPont Izon 3D security film utilizes the company’s imaging technology to integrate anti-counterfeiting features directly onto product packaging or labeling.

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Segment information:

By material type segment, the Global Holographic Films Market is categorized into poly vinyl chloride, biaxially oriented poly propylene films (BOPP), biaxially oriented poly propylene terephthalate ( BOPET ) and others. The biaxially oriented poly propylene films (BOPP) segment held the largest market share in 2022 and is further projected to grow at the highest CAGR during the forecast period owing to rising demand of biaxially oriented poly propylene films (BOPP) film  in various applications including packaging, labeling and lamination.

Global Holographic Films Market– Recent Developments

• In 2022, Berry Global, a U.K.-based sack business, has introduced a new line of recyclable plastic, high-strength trash bags. The company's production facility in Heanor, Derbyshire, would produce the recyclable bags for sale in the U.K. Berry Global provides cutting-edge material science expertise and production capabilities to assist clients in achieving their commercial and sustainability objectives.
• In 2022, Smurfit Kappa Group PLC, has made a 38.58 US$ investment to build a packaging facility in Rabat, Morocco. It would be involved in manufacturing its products for use in a variety of industries, including fast-moving consumer goods (FMCG), ceramics, fast-moving consumer goods (CI), agricultural, and automotive. Smurfit Kappa Group PLC is a FTSE 100 firm that operates in more than 30 countries, making it one of the top suppliers of paper-based packaging worldwide.
• In 2021, India Packaging Compamy Uflex Ltd announced plans to spend a new holographic films production facilities to accommodate rising demand. , India Packaging Compamy Uflex Ltd is a leading global provider of flexible packaging and solutions.

Global Holographic Films Market– Regional Insights

Asia Pacific held the largest revenue share of 33.90 % in the Global Holographic Films Market in 2022 and is expected to maintain its dominance over the forecast period. Furthermore, Asia Pacific region is projected to be the fastest-growing region in the global Holographic Films market during the forecast period. Moreover, growing textile manufacturing industries in China, India, South Korea, Taiwan, and Japan along with rising demand from a variety of application industries are expected to witness significant market growth in Asia Pacific during the forecast period. Furthermore, due to rapid industrialization and favorable government policies aimed at fostering domestic production activities, China is expected to be one of the Holographic Films markets with the fastest rate of growth globally. Additionally, increased demand from end use industries like priting will fuel growth.

Global Holographic Films Market – Key Players

Major players operating in the Global Holographic Films Market include Toray Industries, Inc., Avery Dennison Corporation, Nan Ya Plastics Corporation, Jindal Poly Films Ltd (B.C. Jindal Group), Uflex Limited, SRF Limited, Cosmo Films Limited, API Group Plc, K LASER Technology Inc., and Polinas Plastik Sanayi ve Ticaret A.S.

Definition: A very thin, flexible plastic film called holographic film—made of polyester (PET), oriented polypropylene (OPP), and nylon (Bonyl)—has been micro-embossed with designs or even pictures. Holographic film is mainly used for promotional purposes as they are attention-grabbing due to the touch of electroforming and coatings &embossing. They have flexible texture with 3-dimensional effects and flawless finish. Gift wrapping, security stickers, labeling products, promotional brochures and packaging products are some of the major application areas of Holographic film.