Rockville, MD , Oct. 28, 2024 (GLOBE NEWSWIRE) -- Not only in homes, film and foil is being increasingly used for vehicle aesthetics enhancements too. According to Fact.MR, a market research and competitive intelligence provider, the global Decorative Films and Foils Market is set to be worth US$ 19.1 billion in 2024 and has been forecasted to expand at a CAGR of 5.3% during the study period of (2024 to 2034).
In modern architecture, a commercial building’s floor is divided by partition walls. These walls are made up of glass as they are less expensive to install than standard walls. This trend of floor sharing is creating the demand for decorative films.
- The global window films market is expected to reach a size of US$ 24 billion by the end of 2034.
Companies are experimenting with various materials for decorative films and foils, including metallic options. A rising trend is car wrap films, which elevate a vehicle's elegance and appearance by enveloping it in decorative film.
- For instance, Avery Dennison provides car wrap films with simplified and expedited installation, along with an extensive range of colors and finishes.
Utilization of decorative films on vehicles can reduce CO2 emissions by approximately 68% compared to conventional paint coatings. Given the aim for carbon neutrality, there is increasing focus on decorative films as an environmentally friendly coating technology.
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Key Takeaways from Market Study:
- The global decorative film and foil market is projected to expand at 5.3% CAGR and reach US$ 32 billion by 2034-end.
- The market created an absolute $ opportunity of US$ 4.4 billion from 2019 to 2023.
- North America is projected to hold a market share of 29.1% in 2034.
- Prominent market players include Eastman Chemical Company, 3M, LG Hausys Ltd., and Omnova Solutions Inc.
- The residential segment is forecasted to expand at a CAGR of 5.7% through 2034, creating an absolute $ opportunity of US$ 5.2 billion from 2024 to 2034.
- North America and East Asia are collectively projected to create an absolute $ opportunity of US$ 9.1 billion.
“Increasing focus on aesthetics in several domains is a key factor driving demand for decorative films and foils. Rising inclination toward energy-efficient construction practices is driving market growth,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Decorative Film and Foil Market:
Eastman Chemical Company | The 3M Company | LG Hausys, Ltd. | OMNOVA Solutions, Inc. | Ergis S.A. | Avery Dennison Corporation | Jindal Poly Films Ltd. | Klöckner Pentaplast Group | Folienwerk Wolfen GmbH | Mondoplastico S.p.A. | Other Prominent Players
Market Development:
Companies operating in the decorative film and foil market are adopting several strategies to navigate the competitive landscape. Companies are discovering ideas that can transform creative designs into eye-catching effective decorative film manufacturing.
Expanding distribution channels enables these companies to reach new markets and capitalize on emerging trends effectively. Companies are expanding their businesses by acquiring companies or investing more in manufacturing plants.
- For instance, Renolit expanded its business in North America by opening up a new product line. The decision was made to strengthen the company’s market position.
Decorative Film and Foil Industry News:
- Renolit opened their new production plant in North America on August 30, 2023. The choice was made to hold onto the company's position in the market while growing its market share.
- In March 2023, Eastman Chemical Company launched a high-energy visible light filtering film for the transportation sector. In China, the product line was introduced.
- Surteco Group SE purchased Omnova's laminates, performance films, and coated fabrics sector in February 2023. Omnova is a manufacturer of foils, laminates, and vinyl-coated fabrics. Through the planning of the company's internationalisation, this action is expected to boost the company's position in the market.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global decorative film and foil market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on material (polyvinyl chloride, polyester, polypropylene, vinyl), application (furniture, doors & windows, flooring, automotive interiors & exteriors), and end use (residential, commercial, institutional), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).
Segmentation of Decorative Film and Foil Market Research:
- By Material :
- Polyvinyl Chloride
- Polyester
- Polypropylene
- Vinyl
- By Application :
- Furniture
- Doors & Windows
- Flooring
- Automotive Interiors & Exteriors
- By End Use :
- Residential
- Commercial
- Institutional
Checkout More Related Studies Published by Fact.MR Research:
Film Formers Market: The global film formers market has reached US$ 1.6 billion in 2022 and is expected to progress at a steady CAGR of 4.9% to end up with a market valuation of US$ 2.5 billion by 2032.
EVOH Film for Packaging Market: Increasing focus of food manufacturers on keeping their products nutrition-rich and increasing their shelf life is all set to increase the demand for EVOH films for packaging. The global EVOH film for packaging market is calculated at US$ 5.52 billion in 2024 and has been forecasted to rise at a CAGR of 5.1% to reach US$ 9.03 billion by the end of 2034.
Window Films Market: The global market for window films reached a valuation of around US$ 11.5 Bn in 2021 and is slated to accelerate at a CAGR of 6% to top US$ 22 Bn by 2032. Demand for the sun-type segment is high and is set to increase at a CAGR of 5.5% across the assessment period of 2022 to 2032.
Agricultural Film Market: The global agricultural film market size is estimated to account for a value of US$ 11.78 billion in 2024 and is forecasted to reach US$ 21 billion by the end of 2034. Worldwide sales of agricultural films are predicted to increase at 5.9% CAGR over the next ten years.
Automotive Wrap Films Market: Expanding at a significant CAGR of 22.5%, the global automotive wrap films market is predicted to increase from US$ 7.11 billion in 2023 to US$ 54.1 billion by the end of 2033.
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