Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Thermoplastic Films Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global Thermoplastic Decorative Films market is on the cusp of substantial expansion, with a projected valuation of US$ 10 Billion in 2024. These decorative films, which are utilized on interior and exterior surfaces of various substrates, including glass, wood, windows, doors, furniture, and automotive components, are set to experience a steady growth and are expected to reach a valuation of US$ 16 Billion by 2031.
Driving Factors for the Thermoplastic Decorative Films Market:
- Urbanization Boost: The increasing trend of urbanization and a surge in construction activities are driving the demand for Thermoplastic Decorative Films. This demand is particularly pronounced in the building and construction sector, where these films find application in infrastructure, commercial, industrial, and residential projects.
- Asia Pacific Growth: Over the next three decades, the Asia Pacific region, including China, India, and Southeast Asian countries, is expected to witness over 60% of the global urban population growth. This urban migration fuels construction, economic growth, and the need for decorative films in the region.
- Automotive Industry Expansion: Rising automotive production and increasing demand for vehicle parts contribute significantly to the growth of the Thermoplastic Decorative Films market. These films are used in various automotive components, enhancing their durability and aesthetic appeal.
Challenges Faced by Thermoplastic Decorative Film Suppliers:
The market for these films faces competition from alternative materials like acrylonitrile-styrene acrylate, polycyclohexylenedimethylene terephthalate, and others, which offer cost-effectiveness and desirable properties.
Stringent regulations regarding the use of non-biodegradable materials and chemically treated products during film production pose challenges for manufacturers. Investments in the Asia Pacific region are being made to address these concerns.
Trends in the Thermoplastic Decorative Films Market:
New production methods, such as digital printing, are emerging to manufacture decorative films more efficiently and with a smaller environmental footprint. Custom printing of user-selected images onto decorative films is becoming a trend, allowing consumers to personalize their living spaces and workplaces.
Opportunities for Manufacturers:
Government regulations aimed at reducing energy consumption in residential and commercial buildings offer opportunities for using Thermoplastic Decorative Films for thermal control in windows and doors. Additionally, the expansion of the global furniture industry and the demand for personalized furniture designs create new prospects for manufacturers.
Country-wise Insights:
- China: The Chinese market dominates both in East Asia and globally, driven by high demand for space-saving furniture, the transition to sustainable energy, and the reduction of energy demands in buildings through film applications.
- United States: The US market is lucrative, especially for 2D and 3D laminates used in furniture, doors, and windows in the expanding building industry.
Competitive Landscape:
Leading companies in the Thermoplastic Decorative Films market are adopting strategies such as strategic partnerships, capacity expansion, new product development, acquisitions, and collaborations to increase production capacity and expand their customer base.
Key Companies Profiled:
- LyondellBasell Industries Holdings N.V.
- Covestro AG
- Avery Dennison Corporation
- LG Hausys Ltd.
- Klockner Pentaplast
- C.I. TAKIRON Corporation
- Schweitzer-Mauduit International, Inc.
- Omnova Solutions, Inc.
- RENOLIT
- Jindal Polyfilms Ltd.
- RTP Company, Inc.
- Nihon Matai Co., Ltd.
- Victrex plc
- Konrad Hornschuch AG
- Ergis SA
- Hanwha L&C
- Mondorevive S.p.A
- Alfatherm S.p.A.
- Folienwerk Wolfen GmbH
- Fine Decor GmbH
- PROTECHNIC SA
- AVI Global Plast Pvt. Ltd
- Peiyu Plastics Corporation
- Macro Plastic Sdn. Bhd.
Market Segmentation
By Material Type:
- Vinyl and Polyvinyl Chloride
- PET
- Polypropylene
- TPU
- TPO
- TPE
By Application:
- Furniture
- Doors & Windows
- Automotive Interior and Exterior
By End Use:
- Residential
- Commercial
- Transportation
- Institutional
By Function:
- 2D Lamination
- 3D Lamination
- Self-Adhesive Films
By Installation:
- New
- Re-decoration
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/riztzz
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