Dublin, Feb. 12, 2024 (GLOBE NEWSWIRE) — The “Global Polyester Film Market by Type (Biaxially Oriented, Thermal Film, Metalized Film, Holographic Film, UV Stabilized, Matte Film, Barrier Film), Application (Packaging, Electrical Insulation, Imaging), End-use Industry, and Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Polyester Film Market is projected to reach USD 44.2 billion by 2028, at a CAGR of 6.2% from USD 32.7 billion in 2023.
The growing demand for flexible packaging solutions is expected to fuel the growth of the polyester film market in the coming years. Flexible packaging is convenient for consumers to use and store, and it is also lightweight and easy to transport, making it a good choice for manufacturers and retailers. Flexible packaging can be a more sustainable packaging solution than rigid packaging materials, such as glass and metal, as it is often made from recyclable materials and takes less energy to produce and transport. The flexible packaging industry is constantly innovating to develop new and improved packaging solutions, and polyester film is a popular choice for flexible packaging applications due to its versatility, durability, and good barrier properties.
Food and beverage, by End-use industry, accounts for the second-largest market share in 2022
Polyester film is a favored material in the food and beverage packaging industry due to its lightweight, durability, versatility, and excellent barrier properties. It serves a wide range of applications, including packaging for snacks, candy, bread, meat, cheese, and frozen foods. Its ability to protect these products from moisture, oxygen, and contamination contributes to their freshness and quality.
Moreover, polyester film is adaptable to various packaging formats and can be printed with high-quality graphics, enhancing its appeal. Beyond these applications, it remains a versatile and reliable choice for diverse food and beverage packaging needs, while also playing a role in innovative packaging solutions, including sustainability initiatives and the development of active and smart packaging systems.
UV Stabilized film is expected to be the fastest growing at CAGR 5.7% for polyester film market during the forecast period, in terms of value
The remarkable growth of UV stabilized films within the polyester films industry can be attributed to several compelling factors. These films have found prominence in outdoor applications due to their ability to withstand prolonged exposure to damaging UV radiation, making them indispensable for outdoor signage, banners, agriculture, and protective coverings. Their outstanding durability, resisting yellowing and embrittlement, caters to industries where long-term performance is paramount, such as construction, automotive, and packaging.
Based on region, North America was the second largest market for polyester film market in 2022
North America serves as the second-largest market for polyester films for several key reasons. Firstly, North America has a diverse and established industrial base, which encompasses a wide range of industries such as packaging, electronics, automotive, and construction. These sectors often rely on polyester films for their various applications. Secondly, there’s a growing demand for flexible and sustainable packaging solutions in the North American market, which has bolstered the use of polyester films in packaging applications.
Moreover, innovations in the electronics and automotive industries, where polyester films are used in components and insulation, have contributed to market growth. Additionally, the region’s focus on sustainability and recyclability aligns well with the eco-friendly nature of polyester films, driving their usage in various applications. Finally, technological advancements and research and development initiatives have led to the expansion of the polyester film market in North America, making it the second-largest market for this versatile material.
This report segments the market for the thermoplastic polyolefin material market on the basis of type, application, and region. It provides estimations for the overall value of the market across various regions.
A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for the thermoplastic polyolefin material market. The key players in this market include DuPont Teijin Films (US), TORAY INDUSTRIES, INC. (Japan), Mitsubishi Polyester Film GmbH (Germany), Kolon Industries, Inc. (South Korea), Ester Industries Limited (India), Jindal Films Limited (India), Terphane LLC (US), TOYOBO CO. LTD. (Japan), and Polyplex Corporation Limited (India).
|No. of Pages
|Estimated Market Value (USD) in 2023
|Forecasted Market Value (USD) by 2028
|Compound Annual Growth Rate
- Growing Packaging Industry
- e-Commerce Boom in Recent Years
- Expanding Landscape of Pharmaceutical and Healthcare Industries
- Growing Environmental Concerns About Plastic Waste
- Availability of Alternatives
- Recycling and Circular Economy
- Sustainable Packaging
- Overcoming Recycling-Related Issues
- Trends/Disruptions Impacting Customer’s Business
- Revenue Shift and New Revenue Pockets for Polyester Film Manufacturers
Value Chain Analysis
- Raw Material Suppliers
- Polyester Resin Manufacturing
- Polyester Film Manufacturing
- End-use Industries
- Average Selling Price Trend, by Region
- Average Selling Price Trend, by Type
- Average Selling Price Trend of Key Players, by Top 3 Types
- Patents Granted Worldwide, 2014-2023
- Legal Status of Patents
- Jurisdiction Analysis
- Top Companies/Applicants
- List of Major Patents
- Use of Recycled Polyester in Different Applications
- Determining Purity of Polyester Films for Use in Encapsulation of Collection Materials
- Evaluation of Indigenously Manufactured Garfilm-Em-250 m Thick Polyester Film as Dosimeter for High Dose Applications
- AEP Industries
- Amcor PLC
- Berry Global Group, Inc.
- DuPont Teijin Films
- Eastman Chemical Company
- Ester Industries Limited
- Futamura Chemical Co. Ltd.
- Impak Films US LLC
- Jindal Poly Films Ltd.
- Kolon Industries, Inc.
- Mitsubishi Polyester Film GmbH
- Oben Holding Group
- Polifilm Extrusion GmbH
- Radici Partecipazioni S.p.A.
- Sealed Air Corporation
- Sumilon Polyester Ltd.
- Toray Industries, Inc.
- Toyobo Co. Ltd.
- Uflex Limited
- Zhejiang Wuzhou Polyester Film Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/mkvpid
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- Global Polyester Film Market