INDUSTRIAL FILM MARKET ANALYSIS

Industrial Film MarketSize and Trends

The global industrial film market size was valued at USD 37.26 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 5.95% from 2023 to 2030. A wide range of industrial films are used in various end-use industries, including automotive & transportation, construction, agriculture, medical and electrical & electronics. The demand for these films is expected to increase in the coming years due to their high barrier properties, durability and tensile strength. These films are produced from a variety of polymer materials such as linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC) and polyamide. Moreover, a rising concern for sustainability is further driving the adoption of industrial films across the globe.

Global Industrial Film Market Trends:

Rising trend of e-commerce

The rising trend of e-commerce across Asia-Pacific and the increasing demand for packaged food is stimulating demand for Biaxially Oriented polypropylene films. These films are also gaining popularity among the pharmaceutical and cosmetic industries as they have the ability to prevent oxidation of chemicals present in these products.

Growing merger and acquisition

Key players are focusing on adopting various business strategy to expand their geographical presence. This trend is expected to continue in the near future. For instance, in October 2019, B.C. Jindal Group acquired Treofan Holdings GmbH, a major manufacturer of biaxially oriented propylene films (BOPP films) for packaging, label, tobacco, and technical applications in Europe.