Flexible Film Market Growth, Industry Striking Revenue in Japan and Forecast by 2027
The global flexible film market size is expected to showcase exponential growth by reaching USD 141,785.7 million by 2027 while exhibiting a CAGR of 6.0% between 2020 and 2027. The growth is attributable to the increasing demand for eco-friendly flexible film and the growing demand from the electronics industry globally. This information is published by Fortune Business Insights,The report further mentions that the market stood at USD 88,702.8 million in 2019
Get Sample PDF Brochure:
Flexible films are primarily manufactured using raw materials such as polypropylene, polyethylene, and polyester. These films are available in the market in several sizes that vary as per the requirement. Additionally, they provide beneficial properties such as high resistance to heat, water, moisture, and chemicals that make them favorable across several end-user industries
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Environmental Concerns Propel Market Players to Introduce Eco-Friendly Products
The global market is fragmented by the presence of major companies that are striving to maintain a stronghold and gain a competitive edge over their rivals. These companies are focusing on introducing eco-friendly flexible film to tackle environmental issues and to further reduce carbon footprint. Furthermore, other key players are adopting organic and inorganic strategies to gain a major chunk of share in the global marketplace.
June 2020 – Innovia Films unveiled a new series of functional recyclable BOPP-based films, Encore. These films are manufactured by adopting renewable non-food raw materials. This is expected to lead to reduced adoption of fossil-based virgin raw materials.
List of the Companies Profiled in the Global Market:
- Mondi Group (Austria)
- Innovia Films (UK)
- Amcor Ltd (Australia)
- Bemis Company, Inc. (US)
- The Wipak Group (Finland)
- LINPAC Group (UK)
- Jindal Poly Films Ltd. (India)
- Berry Plastics Corporation (US)
- AEP Industries Inc. (US)
- Max Speciality Films Limited (India)
- Polyplex (India)
- CHIRIPAL POLY FILM (India)
- Cosmo Films Ltd. (India)
- Uflex Limited (India)
- Novus Holdings (South Africa)
- Flex Films (India)
- CTP Flexibles (South Africa)
- AMPAFLEX (South Africa)
Inquire Before Buying This Research Report:
KEY DRIVING FACTORS
Increasing Demand for Electronics to Augment Growth
According to the latest official data, electronics import in India touched an astounding record of around USD 55.6 billion in 2019. The growing demand for electronics is expected to boost the adoption of advanced flexible film to protect the components from external damage. Moreover, the rising concerns over the adverse environmental effects of high plastic use is driving the demand for eco-friendly alternatives. This is anticipated to surge the demand for polyester-based films that are biodegradable in nature. These factors are expected to contribute to the global flexible film market growth in the forthcoming years.
Packaging Segment Held Largest Market Share in 2019
The packaging segment, based on application, held the largest market share in terms of revenue in 2019 and is expected to showcase considerable growth during the forecast period. This is ascribable to factors such as the increasing adoption of innovative flexible films for packaging solutions across several industrial applications such as food & beverage, automotive, and electronics.
Asia-Pacific to Remain Dominant; Increasing Government Initiative to Reduce Plastic Waste to Favor Growth
Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the global flexible film market. This dominance is attributable to the increasing government initiatives to reduce plastic waste that propels the demand for advanced sustainable flexible film in the region between 2020 and 2027. Asia Pacific stood at USD 46,540.4 million in 2019.
On the other hand, Europe is expected to hold the second position in the market owing to the higher adoption of these films in the automotive sector to prevent parts from damage due to high temperature and stretches.
Read Related News:
Reinforced Plastic Sheeting MarketOpportunities
Lithographic Printing Chemicals MarketRevenue
High Performance Medical Plastics Market Demand
Composite Decking Market Opportunities
Metal Powder Market Future Trends
Metal Powder MarketGrowth
Metal Powder Market Geographical Segmentation
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner – Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
Connect us via Social Media Channels:
Leave a Reply