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The latest report by IMARC, titled “ Industrial Films Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 20232028
” " finds that the global industrial films market size reached US$ 41.1 Billion in 2022.
Industrial films refer to a type of plastic that offers excellent chemical resistance and adaptability to harsh environments. They are made by extruding polymer materials, including polyethylene, polypropylene, polyethylene terephthalate, and polyamide. The enhanced tensile strength, improved impact resistance, and efficient use of materials in these films have enabled manufacturers to create thinner films without compromising strength, resulting in high cost and resource savings. These films help enhance crop quality and productivity by preventing soil erosion, increasing soil temperature, providing nutrients, protecting against UV rays, rain, and wind, and inhibiting weed growth. They are known for their excellent waterproofing, clarity, and durability. As a result, industrial films find extensive applications in the automotive, transportation, construction, agriculture, medical, and electrical and electronics industries across the globe.
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The rising product demand in the agriculture sector due to their cost-effectiveness over conventional farming techniques represents the primary factor driving the market growth. In addition, the increasing use of industrial films for farming and gardening applications, including greenhouse, silage, mulching, walk-in tunnel, and low tunnel covers, is another major growth-inducing factor. Moreover, numerous product innovations, such as the introduction of nearinfrared radiation (NIR)-blocking films, UV-blocking films, and fluorescent films, have catalyzed the market growth. Additionally, the surging adoption of high-productivity farming practices owing to decreasing availability of arable land across the world and rapid urbanization is positively influencing the market growth. Along with this, the escalating demand for food due to the expanding global population is creating a favorable outlook for the market. Besides this, the rising use of industrial films in the production of cover films for electronic devices is propelling market growth. Furthermore, the surging popularity of industrial films owing to increasing demand for high-value-added products such as smartphones, tablets, and laptops is contributing to the market growth. Other factors, including ongoing research and development (R&D) activities, heavy investments in the development of flexible and transparent bi-axial films, and inflating consumer disposable incomes, are also anticipated to drive the market further. Looking forward, IMARC Group expects the market value to reach US$ 67.2 Billion by 2028, growing at a CAGR of 5.6% during 20232028. Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Breakup by Type:
• Linear Low-Density Polyethylene (LLDPE) and Low-Density Polyethylene (LDPE)
• High-Density Polyethylene (HDPE)
• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• Polyvinyl Chloride (PVC)
• Polyamide
• Others
Breakup by End Use Industry:
• Agriculture
• Industrial Packaging
• Building and Construction
• Healthcare
• Transportation
• Others
Breakup by Region:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Middle East and Africa
Competitive Landscape with Key Players:
• Berry Global Inc.
• Bogucki Folie
• Compagnie de Saint-Gobain S.A.
• Cosmo Films Limited
• Dupont Teijin Films US
• Inteplast Group Corporation
• Jindal Poly Films
• Mitsui Chemicals Tohcello Inc. (Mitsui Chemicals Inc.)
• Polyplex Corporation Limited
• SKC Co. Ltd.
• Toray Industries Inc.
• Toyobo Co. Ltd.
• Unitika Ltd.
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