Global Speciality Films Market to Grow at a CAGR of 5.10% During 2024-2032, Aided by the Favourable Properties of Speciality Films and Rising Applications

The global market for speciality films is projected to benefit from the demand for speciality films from the electronic industry. As a result of the surging demand for consumer electronic products owing to inflating disposable incomes, WFH culture due to the COVID-19 pandemic, and the rapid improvements in technology, the need for conductive and insulative films for electronic packaging is driving the market globally. In addition, growth in advanced battery output in recent years is further accelerating the demand for speciality films in the transportation sector, hence propelling the market growth. Apart from this, the Asia Pacific region is expected to hold a significant share in the overall growth of the market. This can be associated with the strong market penetration of manufacturers in China. The demand for speciality films from several end-use industries is predicted to have a positive influence on market growth in the coming years.

Max Speciality Films, a subsidiary of Max Ventures and Industries (NSE: MAXVIL), in December 2020 invested Rs 600 million to install two metalliser lines to meet the increased demand for speciality packaging from packaged food segment with improved shelf life offering 100% reliable laminate options. These lines add a thin layer of aluminium to the speciality film with an aim to enhance the barrier properties and for the superior appearance of the packaging. Such expansion and investment projects are undertaken by leading industry players are pushing the growth of the market.

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Market Analysis by Resin, Function, End-Use Industry, and Region:

• On the basis of resin, the market can be divided into polyester, nylon, polyacrylamide, fluoropolymer, polyimide, and polyolefin, among others.
• Based on function, the market can be segmented into the barrier, conduction and insulation, microporous, safety and security, among others.
• The market, based on end-user industry, the market can be categorised into packaging, personal care, electrical and electronics, transportation, construction, and medical.
• The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific and the Middle East and Africa.

Key Findings of the Report:

• The market is being driven by the robust demand for speciality film-based packaging solutions across industry verticals.
• Speciality films are robustly used in the food and beverage industry owing to the surging demand for packed food products and the ability of speciality films to keep packed items intact and healthy.
• Owing to rising concerns regarding sustainability, the progression of bio-based polymer is anticipated to have a positive influence over the growth of the market.
• The spur in demand for speciality films from the electronic sector is projected to invigorate the market growth with the growing demand for consumer electronics.

Key Offerings of the Report:

• The EMR report gives an overview of the global speciality films industry for the periods (2018-2023) and (2024-2032).
• The report also offers historical (2018-2023) and forecast (2024-2032) markets for resins, functions, end-user industry, and major regions.
• The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global speciality films market are 3M Company, Avery Dennison Corporation, Covestro AG, Inteplast Group, and SABIC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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