Newark, NJ, July 23, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global graphic film market is expected to grow from USD 28.51 billion in 2019 and to reach USD 44.82 billion by 2027, growing at a CAGR of 5.12% during the forecast period 2020-2027.
The increasing utilization of graphic films in various industries such as construction, advertisement and automotive industry has been the significant factor for the market growth. The growing need for these films in the sectors is a result of technological innovations. These films are cost-effective and thus have a high demand for manufacturing units.
Graphic films are used for representing visual images on surfaces. The graphic films can be used in many applications owing to the protective uses. The main objective of using the film is to enhance aesthetic appeal. These films are manufactured with the help of plastics and offer a comprehensive product range which can be customized by using various printing techniques. The graphic films offer extensive properties such as high durability and easy recyclability.
These films have much lower installation cost, which is fuelling the market demand in many industries. Apart from this, the maintenance cost is also less, which makes it suitable for the advertisement and promotional industry. The films are used as promotional banners and pamphlets owing to the attractive texture. The growing demand for bioplastics due to its biodegradable nature is expected to boost up the product's market during the forecast period. However, the high cost of raw materials used in the production of graphic films is hindering the market growth. Apart from this, stringent regulation regarding the disposal of plastic is restraining the market.
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Key players operating in the global graphic film market includes CCL Industries In., E. I. du Pont de Nemours and Company, Amcor Limited, Constantia Flexibles Group, Avery Dennison Corporation, DUNMORE Corporation, 3M Company and others. The manufacturers are opting for expansion strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership, so as to gain the significant market share in the global graphic film market and strengthen their position. 3M and CCL Industries are some of the biggest manufacturers and suppliers of graphic film in the global market.
- Steel Partners Holding LP acquired the US-based company DUNMORE Corporation along with Dunmore Europe GmbH based in Germany in February 2018. The Dunmore group is still operating as an independent organization, but it has to report to the API subsidiary group of Steel Partners.
- Nekoosa Inc. acquired the Catalina Graphic Films in March 2018. The acquisition helped the company to expand the product portfolio and its manufacturing capabilities.
Opaque films dominated the market and held the largest market share of 31.24% in the year 2019
On the basis of the film type segment, the global graphic films market includes reflective films, transparent films, opaque films and translucent films. Opaque films dominated the market and held the largest market share of 31.24% in the year 2019. The opaque films have excellent printing ability which makes it favourable for use in banners and pamphlets. Further, it is more durable than the alternatives, which decreases the opportunity cost. It is lightweight and can be easily used, which is increasing market demand.
Polyvinyl Chloride (PVC) dominated the market and held the largest market share of 32.71% in the year 2019
On the basis of the polymer segment, the global graphic films market includes polyethene, polypropylene, polyvinyl chloride and others. Polyvinyl chloride (PVC) dominated the market and held the largest market share of 31.71% in the year 2019. The polyvinyl chloride is preferred by manufacturers owing to better printing ability. Apart from this, it is also much durable and can be easily recyclable.
Digital printing dominated the market and held the largest market share of 29.66% in the year 2019
The printing technology segment is categorized into digital, offset, flexography and rotogravure. Digital printing technology dominated the market and held the largest market share of 29.66% in the year 2019. Digital printing technology offers an analog method of printing. It does not require printing plates. Thus it directly prints visual images on the substrates. Digital technology has added advantage over the other technologies. It enables personalized printing and fast turnarounds.
Promotional and advertisement dominated the market and held the largest market share of 30.94% in the year 2019
The end-user segment includes industries, automotive, promotional and advertisement and others. Promotional and advertisement dominated the market and held the largest market share of 30.94% in the year 2019. The graphic films are majorly used in the promotional and advertisement owing to the greater application such as printing of banners, pamphlets, etc. The graphic films attract more attention of consumers as they bring attractiveness to the promotional banners.
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Regional Segment Analysis of the Graphic Film Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global graphic film market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia-Pacific region accounted for the major market share of 32.91% in the year 2019. The growth can be attributed to a number of factors, majorly the increasing urbanization. Further, the rise in disposable income is also a contributing factor the market growth. China is the leading country in the region. The availability of high-end technology is the reason for the same. However, North America is projected to grow at a rate of 5.6% during the forecast period. The increasing demand, coupled with technological developments is the significant factor behind the growing market.
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About the report:
The global graphic film market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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