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Protective Films Are Fastest Growing Segment Fueling The Growth Of Industrial Film Market

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Leena Shedmake
Protective Films Are Fastest Growing Segment Fueling The Growth Of Industrial Film Market

Industrial films are produced from materials like polyvinyl chloride, polyethylene, polypropylene, and polyester. They provide excellent protection against air, dust, moisture, abrasion and chemicals. Films made of polyethylene terephthalate are lightweight, durable and have high tensile strength which makes them suitable for varied applications in industries like transportation, manufacturing and building & construction.

The global Industrial Film Market is estimated to be valued at US$ 39.48 Bn or Billion in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.



Market key trends:


One of the key trends driving the growth of the industrial film market is the increasing use of protective films. Protective films are increasingly being used in various industries as a cost-effective method to protect products and components from scratches, moisture, dust and other external factors. They extend the shelf life of products and components. Moreover, protective films cause minimal damage while removal and allow repetitive applications. The non-abrasive nature and ease of application of protective films has resulted in their growing demand across industries like automotive, electronics etc. Their reusable and recyclable properties further promote sustainability, which is a key factor boosting the industrial films market.


Segment Analysis


The industrial films market is segmented based on type into linear low-density polyethylene, low-density polyethylene, high-density polyethylene, polypropylene, polyester, nylon, polyvinyl chloride, polyvinyl fluoride, and polyvinylidene fluoride. Among these, polyethylene dominates the market as it is most extensively used material for industrial films due to its characteristics like transparency, flexibility, chemical resistance, and affordable cost.



Key Takeaways


The Global Industrial Film Market Demand is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing demand from various end-use industries like packaging, construction, automotive, and electrical and electronics.


Regional analysis: Asia Pacific currently dominates the industrial films market and is expected to be the fastest growing region during the forecast period. Growing construction, automotive and electronics industries in countries like China, India, Japan, South Korea are driving the growth of industrial films market in Asia Pacific region.


Key players: Key players operating in the Industrial Film Market are Toray Plastics, 3M Company, Dupont Teijin Films, Eastman Chemical Company, SKC Co. Ltd., Solvay Group, Kolon Industries, The Chemours Company, Jindal Polyfilms, Polyplex, and Cosmo Films Limited. These players are focusing on new product development and expansion of production facilities in high growth regions to strengthen their market position.

 

Explorer more information on this topic, Please visit - 

https://www.marketwebjournal.com/industrial-film-market-growth-and-trnds-analysis-share-size-demand-forecast/

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