The specialty and high performance films market is led by demand for high tensile and sturdy packaging materials. Demand across the industry of flexible packaging is a key market driver. These films are widely utilized as packaging materials for the construction, food & beverages, and interior decoration industries.
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Rising demand across end-users should steer market incomes during the forecast period. These films are also utilized in insulating semiconductors. These semiconductors are used in photovoltaic cells and electronics. Thus, robust growth in photovoltaic cells and electronics is also projected to boost the market in the coming five years.
Specialty and high performance films are manufactured from engineered plastic compounds and materials. Varying plastics costs could negatively affect market players in the future. Moreover, strict regulations regarding decreased plastics usage and ecological concerns are projected to hinder the specialty and high performance films market.
Advancements in recyclable plastic sheets and films would offer new avenues for players. The market is divided into end-users, applications, and regions. End-users comprise packaging, construction, electronics, consumer goods, food & beverages, and electricals. Packaging held the biggest share in 2013. It was followed by construction and electronics.
Demand for these films would be high across electricals and electronics in the forecast period. Applications of the specialty and high performance films market consist of safety, barrier, microporous, and decorative films. Barrier films were the biggest application in the last few years. Microporous and decorative films should experience huge expansion due to food processing and durable electronics lamination applications.
Expansion across the industry of interior decoration will further market incomes in the years ahead. Asia Pacific, Europe, North America, and rest of the world are the four market regions. Asia Pacific surfaced as the biggest market in 2013. Expanding end-users in this region are estimated to add revenues. Fast urbanization could also propel regional sales.
On the other hand, Europe and North America should grow slowly because of saturation in their consumer sectors. The worldwide specialty and high performance films market is reasonably segmented and has eminent participants. Some of these include Honeywell, Dow Chemicals, Bayers AG, DuPont, Sealed Air Corporation, and Eastman Chemicals.
Information Source: Grand View Research