United States, Rockville MD, May 08, 2022 (GLOBE NEWSWIRE) -- As per a newly released report by Fact.MR, a market research and competitive intelligence provider, the global high performance films market is projected to be valued at 44.68 billion in 2022, and expand at a CAGR of around 6.2% over the period of 2022-2032. Growing demand for high performance film for use in thermal jacketing in the automotive and aerospace industries is majorly driving market growth. The demand for High Performance Films is expected to rise over the forecast period and the market was valued at US$ 42.72 Billion in 2021.
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Developments in the construction industry have also paved the way for high performance film suppliers. Current infrastructure designs have increased the infusion of transparent exteriors to increase the aesthetics of projects. High performance films increase the tensile force of glass exteriors with reinforcement of the desired texture and tint.
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The pandemic disrupted the supply chain and distribution channels of the industry due to lockdowns and travel restrictions. As per Fact.MR’s observations, value share of high performance films dropped 40%, but the market is anticipated to recover at a steady CAGR of 6.2% over the forecast period.
Which Industry Sectors Drive Most Demand for High Performance Films?
Food Packaging
With the growing food packaging industry, the use of high performance films has increased to improve the shelf life of food products. Packaging such as tetra pack and transparent packaging have made a mark in the industry with the use of innovative high performance films to increase product visibility and ornamental touch. Additionally, its flexibility and thin wall design is popular for many manufactures of transparent packaging.
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Key Segments Covered in the Asia Pacific High Performance Films Industry Survey
- High Performance Films Market by Material :
- Polyester
- EVA
- Polyolefin
- Polyamide
- Fluoropolymer
- Other Materials
- High Performance Films Market by Type :
- Barrier Films
- Safety & Security Films
- Decorative Films
- Microporous Films
- Other Types
- High Performance Films Market by Application :
- Automotive
- Aerospace
- Electrical & Electronics
- Packaging
- Construction
- Other Applications
- High Performance Films Market by Region :
- North America High Performance Films Market
- Latin America High Performance Films Market
- Europe High Performance Films Market
- Asia Pacific High Performance Films Market
- Middle East & Africa High Performance Films Market
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Competition Landscape
Dow Chemical Company, The 3M Company, Solvay S.A., Covestro, Evonik, Honeywell International Inc., Amcor, Berry Global Group, American Durafilm Co., Eastman Chemical Company, and DuPont are key manufacturers of high performance films.
- In December, 2021, Amcor introduced its first high-barrier, recycle-ready liquid pouch packaging solution, which is heat-resistant and for food grade use.
- Players such as Eastman and DuPont are increasing fund allocation for the research and development of high performance films that are capable of deflecting harmful UV radiations.
- Restrictions on the use of tinted films in vehicles have instigated market leaders to develop a film that has 95% transparency, but at the same time deflects UV radiations and infra-red spectrums.
Key players in the Polyester High Performance Films Market
- Dow Chemical Company
- The 3M Company
- Solvay S.A.
- Covestro
- Evonik
- Honeywell International Inc.
- Amcor
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Key Takeaways from North America High Performance Films Market Study
- By material, polyester is projected to provide an absolute $ opportunity worth US$ 36.69 billion over the forecast period.
- Barrier films are anticipated to account for 36% market share by 2032.
- The automotive sector is anticipated to lose 3090 BPS in market value share by 2032.
- North America is projected to capture around 34.6% of the global high performance film market share by 2032.
- Europe is set to provide an absolute dollar opportunity worth US$ 8.37 billion by 2032-end.
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