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