INDUSTRIAL FILM MARKET ANALYSIS

Market Challenges And Opportunities

Global Industrial Film Market Drivers:

Rise in demand for bi-axial films to augment industrial film market growth

Biaxially oriented polypropylene films are used for packaging and labeling applications. They are preferred for their moisture barrier properties, sealing ability, high clarity and graphic reproduction, and shelf appeal. They also offer recyclability benefits. The demand for these films is increasing across the world. They are used in the packaging of processed and fresh foods, which is driving growth of this market. These films provide many beneficial properties such as moisture barrier, sealing ability, durability, oxygen barrier capacity and contamination resisting properties.

Growing demand from end-user industries to foster market growth

Increasing demand from end-user industries such as construction, medical, food packaging, and automotive is fostering market growth. Industrial film is a versatile product that can be used in many different ways. It is also used in transportation and agricultural applications. The use of industrial film is increasing due to the fact that it helps increase productivity and efficiency. It also provides protection from rain and wind. It also reduces weed growth and improves the quality of produce.

Global Industrial Film Market Opportunities:

Growing demand for plastic films from medical applications is expected to provide significant growth opportunities. Polymeric films are widely used in a variety of medical applications, which include transdermal patches, fluid bags, disposable surgical gowns, and wound-care products. PVC is an ideal choice of material for manufacturing of medical bags, such as blood bags, intravenous (IV) bags, nutrition feeding bags, and dialysis bags. Soft PVC films are especially important for medical and pharmaceutical area

Growing demand for these films from marketing applications is expected to serve major growth opportunities. It is an effective marketing tool for many companies and can help increase their sales. It is especially useful for company profiles and can be used on websites and social media channels to promote a business. For example, a company can produce a video that shows the operations of their factory, and this is a great way to introduce their products and services to potential customers. These videos can also be shared on tradeshows or used at other events.

Global Industrial Film Market Restraints:

The market is susceptible to various changes in the overall ecosystem

Fluctuating price of raw materials due to volatility in crude oil production is expected to hinder the market growth. For instance, in 2019, the drone attack at Saudi Aramco's oil has resulted in an immediate spike in crude oil prices, which would cause a ripple effect on the resin supplier and overall industrial film market.

Strict government regulations on use of plastics-based products    

As of July 2020, the Vietnam ministry of Industry and Trade (MoIT) applied anti-dumping measures on some products with biaxially oriented polypropylene (BOPP) film coming from China, Thailand and Malaysia. Also, as of December 2019, China tightened its regulations on the use of plastic film by farmers to boost crop yields, due to increasing concerns over soil contamination throughout northern and western regions.