Dublin, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The "Global Industrial Films Market by Film Type (LLDPE, LDPE, HDPE, PET/BOPET, PP/BOPP, CPP, PVC, Polyamide/BOPA), End-use Industry (Agriculture, Industrial Packaging, Construction, Medical, Transportation), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global industrial films market is estimated to be USD 43.1 billion in 2022 and is projected to reach USD 55.8 billion by 2028, at a CAGR of 4.4% between 2023 to 2028.
This research report categorizes the industrial films market on the basis of type, end-use industry and region. The report includes detailed information regarding the major factors influencing the growth of the industrial films market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, new product developments, agreements and recent developments associated with the market.
Linear Low-Density Polyethylene (LLDPE) film is the largest type of industrial films market
LLDPE films, a more advanced form of Low-Density Polyethylene (LDPE), are widely favored in industrial applications due to their relative transparency, higher tensile strength, puncture resistance, and superior impact strength. These properties enable the production of thinner films through down-gauging technology, reducing costs and material usage while maintaining strength. However, LLDPE is somewhat less easy to process and less clear than LDPE.
LLDPE is gradually replacing LDPE, especially in industrial packaging and agriculture, due to its heat-sealing capability and robustness. LDPE is also chosen for its gloss, processing ease, and clarity. LLDPE films are expected to grow steadily due to their excellent pallet unitization properties, product performance, and cost-effectiveness. They are used in applications like stretch wraps, industrial liners, and construction and agricultural films.
Agriculture segment is the fastest-growing End-use Industry of Industrial films market
Agriculture dominates the industrial films market, driven by the benefits of plastic films in enhancing food quality, crop protection, and increasing productivity. Various plastics like PE, PP, PVC, PC, and PO are used in agriculture, offering sustainable solutions and recycling potential. These films play a key role in three main areas: greenhouses, mulching for early planting and water conservation, and silage for spoilage prevention. With a growing global population and climate challenges, the demand for agricultural films is expected to rise. Notably, the Middle East and Asia-Pacific regions are anticipated to be major drivers of this demand.
Asia-Pacific to be the Fastest-Growing Industrial Films Market during the forecast period
APAC is estimated to be the largest market for industrial films market and is also projected to register the fastest CAGR of 5.8% during the forecast period. China is expected to account for the largest share of the market in APAC in 2022 with 43.9%. The industrial films market in the Asia-Pacific is experiencing significant changes, driven by technological advancements and evolving consumer preferences. Flexible packaging solutions are gaining traction in the food and beverage industry, with brands opting for high-performance industrial films to prolong product shelf life, improve visual appeal, and address sustainability issues. For example, prominent snack manufacturers in Japan are adopting metalized barrier films to maintain product freshness and create eye-catching packaging, aligning with the region's preference for innovative packaging solutions.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 220 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $43.1 Billion |
| Forecasted Market Value (USD) by 2028 | $55.8 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Capitalizing on Urban-Industrial Boom
- Harnessing Technological Prowess
- Increasing Use of Industrial Films in Sustainable Agriculture
- Restraints
- Adapting to Changing Regulatory Landscape
- Opportunities
- Eco-Friendly Innovations in Industrial Films
- Specialized Films for Advanced Industrial Needs
- Challenges
- Raw Material Price Fluctuations
- Challenges in Recycling of Plastics
Technology Analysis
- Smart Films
- Anti-Glare and Anti-Reflective Coatings Technology
- Augmented Reality (AR) Films
Case Study Analysis
- Berry Plastic Group, Inc. Improved Efficiency of Farming Operations with Silotite 1800
- BASF Plans to Use Ecovio for Circular Economy
Companies Profiled
- 3M Company
- BASF
- Berry Global Inc.
- Berry Plastic Group, Inc.
- Dunmore Corporation
- DuPont Teijin Films
- Eastman Chemical Company
- Im Sanin Srl
- Inteplast Group
- Jindal Polyfilms
- Kolon Industries, Inc.
- Mitsubishi Chemical Group Corporation
- Mitsui Chemicals Tohcello, Inc.
- Novolex
- Plastik V Sdn. Bhd
- Polifilm Group
- Polyplex
- RKW SE
- Rogers Corporation
- Saint-Gobain
- Sigma Plastics Group
- Solvay
- The Chemours Company
- The Cosmo Films
- Toray Industries, Inc.
- Toyobo
- Zhejiang Yimei Film Industry Group Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/dkztfo
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