Rockville, MD , Jan. 16, 2025 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global polyester film market is estimated to reach a valuation of US$ 32.2 billion in 2024 and is expected to grow at a CAGR of 5.7% during the forecast period of 2024 to 2034.
The polyester film market continues to grow at robust rates, and this is increasingly driven by an expanding set of applications in diverse industries. The packaging industry remains a leading growth driver in flexible packaging for food and beverage applications, for which polyester films offer superior barrier properties and durability.
Consumer electronics manufacturers increasingly look to polyester films for display components and protective applications, while automotive applications include uses in interior and exterior applications. With growing environmental concerns, sustainability initiatives have compelled manufacturers to develop eco-friendly variants such as recycled and bio-based polyester films, while meeting performance characteristics.
The electrical and electronics industry has shown an increase in demand for insulation materials. Growth in emerging economies has increased the demand even further. Change in preferences of consumers towards packaged goods have added further market opportunities. North America and Europe continue to focus on new applications and sustainability. The companies are also investing in the research and development of new applications and improving product characteristics continuously.
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Key Takeaways from Market Study:
- The global polyester film market is projected to grow at 5.7% CAGR and reach US$ 56.1 billion by 2034
- The market created an opportunity of US$ 23.9 billion between 2024 to 2034
- East Asia is a prominent region that is estimated to hold a market share of 37.3% in 2024
- Barrier films under product type segment of polyester film is estimated to grow at a CAGR of 5.7% creating an absolute $ opportunity of US$ 5.2 billion between 2024 and 2034
- North America and East Asia are expected to create an absolute $ opportunity of US$ 11.6 billion collectively
"The polyester film market demonstrates exceptional resilience and growth potential, primarily driven by innovation in sustainable solutions and expanding applications in emerging technologies. Manufacturers' focus on developing high-performance, environmentally conscious products positions the market for sustained growth across multiple end-use sectors” says a Fact.MR analyst.
Leading Players Driving Innovation in the Polyester Film Market:
Mylar Specialty Films; Toray Industries, Inc.; Mitsubishi Polyester Film GmbH; SKC Films; Polyplex Corporation; Kolon Industries; Jindal Poly Films; SRF Limited; Uflex Limited; Nan Ya Plastics Corporation; Other Prominent Players
Market Development:
Key players in the polyester film market are BASF SE, DuPont de Nemours, Inc., NatureWorks LLC, Braskem, Novamont S.p.A., Total Corbion PLA, Mitsubishi Chemical Corporation, Solvay S.A. These companies are dedicated to R&D investments to address industry-specific challenges and deliver tailored solutions that enhance competitiveness and customer satisfaction.
• In July 2023, Toray Advanced Composites, the leading company with innovation in developing and manufacturing advanced thermoplastic and thermoset composite materials, announced that it will expand capacity at its Morgan Hill, California facility. The campus will now cover a total area of 74,000 square feet, or 6,800 square meters.
Polyester Film Market News:
DuPont Teijin Films announces global rebranding in February 2024 to signal growth in polyester film. The company is now known as Mylar Speciality Films.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global Polyester film market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of Product Type (Biaxially Oriented (BOPET), Cast Films, Barrier Films, Thickness (Ultra-thin (< 6 microns), Thin (6-12 microns), Medium (12-25 microns), Thick (> 25 microns)), End-Use Industry (Food & Beverage, Electronics, Pharmaceuticals, Manufacturing, Automotive, Other Industries) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
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