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Industrial films market is currently facing trends that not only are changing the nature of the industry, but also make this industry pretty dynamic. Industrial films are the main products in the current industries which have ditched the old ways of doing things and adopted advanced technologies. This has been accompanied by increased demand over time. Sustainability growth drive is one of major trends, that lead to development of this market. While there has been an increasing awareness of environmental concerns, industries are going green and looking for biodegradable films which are creating a market. This transition towards sustainability not only happens to be reasoned by the corporate social responsibility but also by the associated strict regulations evidenced by the environmentally conscious customers. Except a few challenges, companies in the Industrial Films Market do face. Which of these lies in the matter of making plastics which are safer for the environment ? This includes devising means to which they would properly decompose when disposed. On the other side, manufacturing companies are working towards designs of industrial films in order to reach the standards given by the increasing regulations that the governments make regarding the use of these plastics.
Hence, the technology has also become a substantial driving force in the development of industrial films market. The incorporation of the most modern production technologies has brought about the launch of films with novel and unexplored features. For example, the production of high-performance films which are mainly using nano technology has made them suitable for packaging and protective coatings. These achievements don't only help the efficiency of industrial films but also unfold new realms of their application in various industries.
A third relevant trend concerns the escalating demand for specialty films made to order to address individual industry needs. Industrial films are no longer treated as products with well-defined specifications; instead, a common consumer need is an application specific solution providing one or more special functionalities such as UV resistance, flame retardancy, or static dissipation. This behavior is reflective of the different realms the industrial films apply across various industries, from automobiles and construction to electronics and agriculture.
However, the fact is that this is further intensified by trade globalization and industrial development at the same time. As markets become more fluid with trade expanding across borders, the demand for efficient packaging solutions to protect products from the physical effects of transportation has escalated. Industrial films is an important means to build the safety of products and maintain their integrity during transportation from the case of the consumer. That has resulted in an increased use of industrial films in the logistics and packaging sectors. Hence, the growth of market is supported by the overall growth.
Industrial Films Market Highlights:
Global Industrial Films Market Overview
Industrial Films Market Size was valued at USD 52.2 billion in 2021. The industrial films market industry is projected to grow from USD 55.1 billion in 2022 to USD 80.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.60% during the forecast period (2022 - 2030). Increasing consumer disposable income, intensive research and development (R&D) operations by key companies, rising investments in the creation of flexible and transparent bi-axial films, and a notable increase in smart device sales are a few of the key market drivers influencing the market expansion.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Industrial Films Market Trends
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Growing construction activities and projects to propel the market growth
The future expansion of the market is anticipated to be driven by rising construction activity and projects in developing nations. A business that uses construction materials in building design, development, and construction is engaged in construction activities. Buildings and commercial offices are constructed using industrial films to produce distinctive lighting and aesthetic effects. For instance, in November 2020, Level Set, a US-based provider of construction data, reported that $276 billion had been spent on residential buildings in 2019 and $92 billion had been spent on commercial construction overall in the country. Therefore, the market's expansion is driven by the rising construction activities and projects in emerging nations. Thus, this factor is driving the market CAGR.
Furthermore, industrial films were used in agriculture, increasing productivity and efficiency. As a result, they are now used much more frequently in agriculture. Industrial films have several uses in the farming and gardening sectors of the agricultural industry, including greenhouses, silage, mulching, walk-in tunnels, and low tunnel covers, among others. The world's population is expanding quickly, boosting the agriculture sector's expansion. China, the United States, India, and Brazil are among the biggest agricultural producers in the world. In these nations, the use of industrial films in agriculture is expanding quickly. As a result, it is anticipated that throughout the forecast period, demand will increase.
Furthermore, bi-axially oriented films are in high demand due to their widespread use in industrial and packaging applications. Polyethylene terephthalate, polypropylene, and polystyrene are the three main polymers used to produce biaxially oriented films. Bi-axially oriented polypropylene film has great abrasion and chemical resistance, good clarity, resistance to UV light, and a smooth surface. The demand for these films is primarily driven by their flatness, improved strength at low gauges, and printability in various sectors.
However, in the near future, increased demand for high-value-added products like smartphones is projected to increase the popularity of industrial films. Consumer devices like smartphones, tablets, and laptops are selling more due to rising disposable income, rising affordability, and falling prices. Due to their flexibility and transparency, they mostly create cover films for electrical devices. The need for industrial films is anticipated to increase as a result. So, it is anticipated that this aspect will accelerate industrial films market revenue ly.
Industrial Films Market Segment Insights
Industrial Films Material Type Insights
The industrial films market segmentation has been segmented by material type into linear low-density polyethylene (LLDPE), low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), polyamide and others. The linear low-density polyethylene (LLDPE) segment dominated the industrial films market data in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. LLDPE is predicted to be more impact and puncture resistant than LDPE, increasing demand among the agricultural and industrial packaging sectors and industries. These films' greater tensile strength, higher impact resistance, and material conservation have enabled converters to produce thinner films without sacrificing strength while saving money and resources.
Industrial Films End-Use Insights
The industrial films market segmentation, based on end-use, transportation, construction, industrial packaging, agriculture, medical and others. The agriculture segment dominated the industrial films market revenue in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Growing demand for agricultural films, such as greenhouse films, mulch films, silage films, low tunnel films, soil sterilization and fumigation films, packaging and protection films, and films for water reservoirs, is being fueled in part by the desire to increase crop yield. Hence, this would have a positive impact on market growth for industrial films.
Figure 2: Industrial Films Market by End-Use, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Films Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific, industrial films market, accounted for USD 18.2 billion in 2021 and is expected to exhibit a 40.00% CAGR during the study period. Growing demand for agricultural industrial films from nations like China and India is anticipated to fuel market expansion in the area. Additionally, the demand for industrial films in the region is growing as a result of expansion in the building and construction and industrial packaging sectors in nations like China, India, and Japan. The expansion of e-Commerce has also increased demand in the region for improved and more affordable packaging materials.
Further, the major countries studied in the market report for industrial films are: The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: INDUSTRIAL FILMS MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America industrial films market is expected to grow at a substantial CAGR from 2022 to 2030. The industrial packaging business increasingly uses high-density polyethylene, low density polyethylene, polypropylene, and polyethylene terephthalate films. The market is also increasingly moving toward biodegradable industrial films due to growing environmental concerns. Further, the US industrial films market held the largest market share, and the Canada industrial films market was the fastest-growing market in the region
European Pacific industrial films market accounts for the second-fastest growing market share. In many European countries, the transportation sector is significant and expanding. Industrial films are significantly used in this industry to move goods to and from locations. Numerous European states are currently enacting stricter environmental laws and regulations. The usage of plastics that never deteriorate is therefore impossible. As a result, a lot of businesses are turning to industrial films as the next best option. Moreover, Germany industrial films market held the largest market share, and the UK industrial films market was the fastest-growing market in this region.
Industrial Films Key Market Players & Competitive Insights
Major market players are spending a lot on R&D to increase their product lines, which will help the industrial films industry grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, market developments and collaboration with other organizations. Competitors in the industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market industry.
One of the primary business strategies manufacturers adopt in the industrial films industry to benefit clients and expand the sector is manufacturing locally to reduce operating costs. In recent years, industrial films industry has provided medicine with some of the most significant benefits. The industrial films market major player such as TOYOBO Co. Ltd (Japan), DuPont de Nemours Inc. (US), TEKRA (US), MURAPLAST d.o.o. (Croatia), Transcendia (US), Mondi (Austria), Mitsui Chemicals Tohcello.Inc. (Japan), HiFi Industrial Films Limited (UK), Bogucki Folie (Lithuania), FUJIFILM Corporation (Japan), UNITIKA Ltd (Japan), pely-plastic GmbH & Co. (Germany), LINTEC EUROPE (UK), Supreme mill stores (India), and TAGHLEEF INDUSTRIES GROUP (Dubai).
Éleuthère Irénée du Pont de Nemours, a French-American chemist and industrialist, founded DuPont de Nemours, Inc., an American international chemical firm, in 1802. In March 2021, the US-based industrial films manufacturer DuPont introduced their DuPontTM Tedlar polyvinyl fluoride (PVF) film for laminating metal roofs and constructing wall panels.
Also, the company Mitsui Chemicals Tohcello, Inc. produces and sells film goods. The business creates, produces, refines, and markets industrial films, functional films, photovoltaic encapsulant sheets, packaging films, wrapping films, and other goods. All of Japan is where Mitsui Chemicals Tohcello markets their goods.
Key Companies in the industrial films market includes
- TOYOBO Co. Ltd (Japan)
- DuPont de Nemours Inc. (US)
- TEKRA (US)
- MURAPLAST d.o.o. (Croatia)
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Transcendia (US) - Mondi (Austria)
- Mitsui Chemicals Tohcello.Inc. (Japan)
- HiFi Industrial Films Limited (UK)
- Bogucki Folie (Lithuania)
- FUJIFILM Corporation (Japan)
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UNITIKA Ltd (Japan) - Pely-plastic GmbH & Co. (Germany)
- LINTEC EUROPE (UK)
- Supreme mill stores (India)
- TAGHLEEF INDUSTRIES GROUP (Dubai)
Industrial Films Industry Developments
May 2021: Nakai Industrial Co. Ltd. was purchased by Mitsubishi Chemical Holdings Corporation, a chemical and pharmaceutical company with headquarters in Japan, for an undisclosed sum. With this acquisition, Mitsubishi Chemical expands its capacity to produce film coatings to meet various customer requests. A Japanese business called Nakai Industrial Co. Ltd. produces industrial films.
February 2021: New industrial films and bags that are recyclable and include up to 50% recycled resin have been introduced by INDEVCO Plastics Longview, LLC. This month, the company introduced a recyclable Shrink Bundling Film that incorporates 50% post-consumer recycled (PCR) resin for the beverage and processed food industries.
January 2020: The debut of PICASUS VT, the first film in the history of the world to incorporate an optical function, was announced by Toray Industries, Inc. As with glass, the optical function enables light to travel through the front and reflect obliquely incident light like a mirror. The film uses Toray's own nano-lamination technology to deliver high-precision resin refractive index control based on innovative optical design.
Industrial Films Market Segmentation
Industrial Films Material Type Outlook (USD Billion, 2018-2030)
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Linear Low-Density Polyethylene (LLDPE)
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Low-Density Polyethylene (LDPE)
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High-Density Polyethylene (HDPE)
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Polypropylene (PP)
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Polyethylene Terephthalate (PET)
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Poly Vinyl Chloride (PVC)
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Polyamide
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Others
Industrial Films End-Use Outlook (USD Billion, 2018-2030)
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Transportation
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Construction
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Industrial Packaging
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Agriculture
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Medical
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Others
Industrial Films Regional Outlook (USD Billion, 2018-2030)
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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