According to the report by Expert Market Research (EMR), the global speciality plastic films market size is projected to grow at a CAGR of 7% between 2023 and 2028. Aided by the mounting demand for innovative packaging solutions and the escalating applications of speciality plastic films across diverse sectors, the market is expected to grow significantly by 2028.
Speciality plastic films, with their distinctive properties such as high tensile strength, barrier resistance, and heat stability, are widely used in various applications, including packaging, construction, automotive, and electronics. These films offer superior performance and functionality compared to conventional films, which makes them highly sought after in industrial applications.
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The rising consumer preference for convenient and innovative packaging is a key driver propelling the global speciality plastic films market growth. With changing lifestyle patterns and the increasing pace of urbanisation, the demand for flexible, durable, and lightweight packaging solutions has witnessed significant growth, resulting in a surge in the consumption of speciality plastic films. Furthermore, the trend towards sustainable packaging has boosted the demand for bio-based and biodegradable plastic films, thus expanding the market scope.
The widening applications of speciality plastic films in various sectors play a substantial role in accelerating the speciality plastic films market development. In the construction industry, these films are used for window films, vapor barriers, and insulation films due to their exceptional insulation and barrier properties. The automotive sector utilises speciality plastic films for window tinting, paint protection, and wrapping, which enhances the vehicle’s aesthetic appeal and protects its surface.
Speciality plastic films will become more popular for use in food and beverage packaging due to their many beneficial properties, including their high tensile strength, durability, high temperature, and resistance to moisture, chemicals, and gases. Moreover, in the electronics industry, these films are used for display protection and insulation, contributing to the longevity and performance of electronic devices, thereby aiding the speciality plastic films market growth.
Furthermore, the burgeoning demand for personal protective equipment (PPE) due to the ongoing global health crisis has significantly increased the need for speciality plastic films. These films are used in the production of face shields, goggles, and other protective gear, which has greatly contributed to the speciality plastic films market expansion.
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Speciality Plastic Film Market Segmentation
The market can be divided based on end use and region.
Market Breakup by End Use
• Packaging
• Personal Care
• Electrical and Electronics
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global speciality plastic films companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Bemis Co. Inc.
• Berry Global Inc.
• Sealed Air Corp.
• Toray Industries Inc.
• SABIC Corporation
• Others
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