“Increasing demand for flexible packaging materials is driving the demand for polyester films.”
The polyester film market industry is projected to reach USD 44.2 Billion by 2028, at a CAGR of 6.2% from USD 32.7 Billion in 2023. Polyester film is a versatile and lightweight packaging material that is increasingly being used in a variety of industries, including food and beverage, pharmaceuticals, and consumer goods. The growing demand for flexible packaging solutions is expected to fuel the growth of the polyester film market in the coming years. Flexible packaging is convenient for consumers to use and store, and it is also lightweight and easy to transport, making it a good choice for manufacturers and retailers. Flexible packaging can be a more sustainable packaging solution than rigid packaging materials, such as glass and metal, as it is often made from recyclable materials and takes less energy to produce and transport. The flexible packaging industry is constantly innovating to develop new and improved packaging solutions, and polyester film is a popular choice for flexible packaging applications due to its versatility, durability, and good barrier properties.
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“Food and beverage, by End use industry, accounts for the second-largest market share in 2022.”
Polyester film is a favored material in the food and beverage packaging industry due to its lightweight, durability, versatility, and excellent barrier properties. It serves a wide range of applications, including packaging for snacks, candy, bread, meat, cheese, and frozen foods. Its ability to protect these products from moisture, oxygen, and contamination contributes to their freshness and quality. Moreover, polyester film is adaptable to various packaging formats and can be printed with high-quality graphics, enhancing its appeal. Beyond these applications, it remains a versatile and reliable choice for diverse food and beverage packaging needs, while also playing a role in innovative packaging solutions, including sustainability initiatives and the development of active and smart packaging systems.
“UV Stabilized film is expected to be the fastest growing at CAGR 5.7% for polyester film market during the forecast period, in terms of value.”
The remarkable growth of UV stabilized films within the polyester films industry can be attributed to several compelling factors. These films have found prominence in outdoor applications due to their ability to withstand prolonged exposure to damaging UV radiation, making them indispensable for outdoor signage, banners, agriculture, and protective coverings. Their outstanding durability, resisting yellowing and embrittlement, caters to industries where long-term performance is paramount, such as construction, automotive, and packaging.
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“Based on region, North America was the second largest market for polyester film market in 2022.”
North America serves as the second-largest market for polyester films for several key reasons. Firstly, North America has a diverse and established industrial base, which encompasses a wide range of industries such as packaging, electronics, automotive, and construction. These sectors often rely on polyester films for their various applications. Secondly, there's a growing demand for flexible and sustainable packaging solutions in the North American market, which has bolstered the use of polyester films in packaging applications. Moreover, innovations in the electronics and automotive industries, where polyester films are used in components and insulation, have contributed to market growth. Additionally, the region's focus on sustainability and recyclability aligns well with the eco-friendly nature of polyester films, driving their usage in various applications. Finally, technological advancements and research and development initiatives have led to the expansion of the polyester film market in North America, making it the second-largest market for this versatile material.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees is as follows:
· By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
· By Designation: C-Level - 20%, Director Level - 10%, and Others - 70%
· By Region: North America - 20%, Europe -30%, Asia Pacific - 30%, Middle East & Africa - 10%, and South America-10%
The key players in this market include DuPont Teijin Films (US), TORAY INDUSTRIES, INC. (Japan), Mitsubishi Polyester Film GmbH (Germany), Kolon Industries, Inc. (South Korea), Ester Industries Limited (India), Jindal Films Limited (India), Terphane LLC (US), TOYOBO CO. LTD.,(Japan), Polyplex Corporation Limited (India).
Research Coverage
This report segments the market for the thermoplastic polyolefin material market on the basis of type, application, and region. It provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for the thermoplastic polyolefin material market.
Key benefits of buying this report
This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the thermoplastic polyolefin material market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
· Analysis of key drivers: Increasing demand for advanced technologies, Energy Efficiency and Sustainability.
· Market Penetration: Comprehensive information on the Polyurethane catalyst market offered by top players in the global Polyurethane catalyst market.
· Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the Polyurethane catalyst market.
· Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for the Polyurethane catalyst market across regions.
· Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global Polyurethane catalyst market.
· Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the Polyurethane catalyst market.
