The global industrial films market is expected to grow at a CAGR of 4.7% during the forecast period. The market is expected to surpass USD 62.3 billion by 2031, from USD 37.6 billion in 2020.

The market is expanding rapidly, owing to growing applications, technological advancements, and increased demand from Asia-Pacific and Europe. The global industrial films market is primarily driven by the growing use of agricultural films and the increasing product utilization in the construction sector. Stringent environmental and government regulations may restrain the industrial films market growth.

IMPACT OF COVID-19 ON THE GLOBAL INDUSTRIAL FILMS MARKET

Large Tier I and Tier II suppliers in the global industrial films market include 3M, Berry Global Group, DSM-RKW SE, Eastman, Saint-Gobain, SKC Co. Ltd., and Toray. These suppliers manufacture their products across all the regions, including South America, Middle East, and Africa.

In 2020, these companies suspended production in many countries such as U.S., France, Germany, Italy, and Spain in response to decreased demand, supply chain bottlenecks, and to safeguard the safety of their employees during the COVID-19 pandemic. Although the demand is booming from the agriculture sector, the market witnessed a decline in sales. Further, the manufacturers are likely to adjust production to avoid bottlenecks and plan production in response to tier 1 manufacturer demand.

GLOBAL INDUSTRIAL FILMS MARKET INFOGRAPHICS

Source: ThinkWise Intelligence Analysis

GLOBAL INDUSTRIAL FILMS MARKET DYNAMICS

MARKET DRIVER: INCREASED DEMAND FOR BIAXIALLY ORIENTED FILMS

Bi-axially oriented films have surpassed all other film genres in popularity and growth. These films' distinct nature and superior characteristics result from their manufacturing process. These films are stretched in both the machine and transverse directions to achieve desired properties such as an excellent combination of optical, thermal, mechanical, and physical characteristics, electrical insulation, transparency, and chemical stability.

The market for bi-axially oriented films is driven by their widespread use in industrial and packaging applications, facilitated by their superior processability, unique properties, and adhesion to adhesives and coatings. The growing demand for biaxially oriented films has prompted market participants to expand their product offerings. Some of the materials used to manufacture biaxially oriented films are polypropylene (PP), polyethylene terephthalate (PET), polystyrene (PS), and polyaspartic acid (PA).

MARKET RESTRAINT: STRICT ENVIRONMENTAL AND ADMINISTRATIVE REGULATIONS

Numerous plastics regulations and proposed bans affected the sale of plastic films. Many acts and regulations have been enacted globally to establish strict guidelines for preventing plastic waste and recycling plastic materials. Recycling plastic materials is regulated in the United States by environmental laws such as the Ocean Dumping Act, the Solid Waste Disposal Act, and the Resource Conservation and Recovery Act. China implemented 'Operations Green Fence' in 2012 to prohibit improper recycling practices that contribute to environmental pollution. This regulation prohibited the importation of unwashed plastic materials and imposed restrictions on recycling methods.

Each state in the United States has a slightly different tint limit for automotive films on front side windows, ranging from a high of 88% in California to a low of 24% in Washington. Automotive window films installed on the vehicle's window glasses prevent the entry of Visual Light Transmission (VLT). As a result, the use of these films is prohibited in several countries due to concerns about road safety, violence, and other issues. Globally, 100% black tint window films are not permitted due to the high risk of collisions. In Libya, Bolivia, Kenya, Portugal, Kuwait, Belarus, Pakistan, and Iraq, all vehicles' windows must be completely transparent. In contrast, rear windows must have at least 70% VLT, and side windows must have 50% VLT in India. Such regulations stifle the industrial films market growth.

MARKET OPPORTUNITY: EXPANDING THE USE OF AGRICULTURAL FILMS

Plastic film use in agriculture has increased over the years due to benefits such as crop quality preservation and increased crop production quantity. Demand for agricultural films is being driven by shrinking arable land, changing weather conditions, and growing demand for food due to population growth. These films contribute to crop quality and productivity improvement by reducing soil erosion, increasing soil temperature, supplying nutrients, protecting crops from UV rays, rain, and wind, facilitating seed germination, and suppressing weed growth. These advantages have contributed to agricultural films' growing popularity globally. Globally improving farming standards, combined with the cost-effectiveness of this technology compared to conventional farming techniques, has fueled the use of agricultural films even more.

Plastic films are widely used in agriculture for various purposes, including greenhouses, fodder, mulch, and tunnels. Numerous innovations in the agriculture film industry, such as near-infrared radiation (NIR) blocking films, UV blocking films, and fluorescent films, are expected to impact the industry positively.

MARKET THREAT: OBSTACLES TO PLASTIC RECYCLING

The direct disposal of plastic films will raise concerns about environmental stewardship and recycling. Each piece of plastic is not designed to be recycled. The primary challenge in plastics recycling is the high cost of various steps, such as collection and extensive sorting. Moreover, the lack of incentives for manufacturers to use recycled plastics will also be a significant threat to the market growth.

Due to plastics' light and bulky nature, it isn't easy to collect sufficient quantities of similar plastic types. Occasionally, drop-off locations are used to reduce collection costs. However, this creates a problem with space requirements, which increases the cost of the collection process. Additionally, the extensive sorting requirement complicates plastic recycling. Despite the Society of the Plastics Industry's development of seven resin codes, the market is flooded with various plastics. This constrains the recycling process, as the different types of plastics must be meticulously sorted according to their resin codes before being converted into other products.

The scarcity of buyers for recycled plastics resulting from the absence of potential incentives has worsened the difficulty of recycling plastics. These obstacles are expected to be overcome in the coming years due to the advancement of recycling technologies and beneficial initiatives.

KEY TRENDS IN THE GLOBAL INDUSTRIAL FILMS MARKET

GLOBAL INDUSTRIAL FILMS MARKET TRENDS, BY END-USE INDUSTRY

"The industrial films market for agriculture is expected to have the greatest share during the projected period."

Agriculture will continue to dominate the industrial films market in 2021, accounting for more than 25% of the total market. This was due to rising food demand, shrinking arable land, and the need to conserve water and energy. It has resulted in the development of advanced cultivation techniques capable of increasing crop productivity and mitigating climate change.

GLOBAL INDUSTRIAL FILMS MARKET TRENDS, BY REGION

"Asia-Pacific is projected to control the major chunk of the global market."

In 2020, Asia-Pacific was projected to account for the largest share of the industrial films market. Industrial films are in high demand in the Asia-Pacific region due to rapidly increasing consumption in the agriculture, automotive, construction, and industrial packaging industries in countries such as India, Indonesia, China, and Thailand.

COMPETITIVE LANDSCAPE IN THE GLOBAL INDUSTRIAL FILMS MARKET

The global industrial films market is highly diverse and competitive, with many international players and a small number of regional and local players. Saint-Gobain, Berry Global Group, SKC Co. Ltd, Toray, and Eastman are just a few of the market's major players.

RECENT ADVANCES IN THE GLOBAL INDUSTRIAL FILMS MARKET

• Saint-Gobain acquired American Seal and Engineering Co., a market leader in technical sealing solutions, in February 2019.
• Berry Global Group acquired RPC in July 2019 for an aggregate purchase price of USD 6.1 billion. With 189 locations in 34 countries, RPC is a market leader in plastic product design and engineering for packaging and select non-packaging markets.
• Toray Industries, Inc. introduced PICASUS VT in January 2020, the world's first film with an optical function that allows light to pass through the front similar to glass and reflects obliquely incident light identical to a mirror. This ground-breaking material enables new applications in fields such as augmented and mixed reality for Head-Mounted Display (HMD) and Head-Up Display (HUD) devices, as well as privacy filter and display films.

CHAPTER 1.    INTRODUCTION
1.1.    KEY OBJECTIVES OF THE STUDY
1.2.    MARKET SCOPE & DEFINITION
1.2.1.    MARKET SEGMENTATION
1.3.    REPORT DESCRIPTION
1.4.    LIMITATIONS
1.5.    STAKEHOLDERS FOR PRIMARY INTERVIEWS

CHAPTER 2.    RESEARCH METHODOLOGY
2.1.    DATA EXPLORATION
2.1.1.    PRIMARY DATA
2.1.1.1.    DATA SOURCES
2.1.1.2.    KEY DATA COLLECTED
2.1.2.    SECONDARY DATA
2.1.2.1.    DATA SOURCES
2.1.2.2.    KEY DATA COLLECTED
2.2.    MARKET SIZE ESTIMATION
2.2.1.    TOP-DOWN APPROACH
2.2.2.    BOTTOM-UP APPROACH
2.3.    DATA BREAKDOWN & TRIANGULATION
2.4.    ASSUMPTIONS & FORECAST PARAMETERS

CHAPTER 3.    EXECUTIVE SUMMARY

CHAPTER 4.    THINKWISE INTELLIGENCE EXCLUSIVE INSIGHTS
4.1.    MARKET ATTRACTIVENESS, BY FILM TYPE
4.2.    MARKET ATTRACTIVENESS, BY END-USE INDUSTRY
4.3.    MARKET ATTRACTIVENESS, BY REGION

CHAPTER 5.    MARKET OVERVIEW
5.1.    INTRODUCTION
5.2.    GROWTH IMPACT FORCES
5.2.1.    DRIVERS
5.2.2.    RESTRAINTS
5.2.3.    OPPORTUNITIES
5.2.4.    THREATS
5.3.    MARKET ECOSYSTEM & VALUE CHAIN
5.3.1.    ECOSYSTEM ANALYSIS
5.3.1.1.    IMPACT OF COVID-19 ON THE MARKET ECOSYSTEM
5.3.2.    VALUE CHAIN ANALYSIS
5.3.2.1.    IMPACT OF COVID-19 ON THE MARKET VALUE CHAIN
5.4.    INNOVATION & SUSTAINABILITY MATRICES
5.4.1.    PATENT MATRIX
5.4.2.    REGULATORY MATRIX
5.5.    PRICE MATRIX
5.5.1.    IMPACT OF COVID-19 ON PROVING
5.5.2.    PRICING ANALYSIS
5.5.2.1.    BY FILM TYPE
5.5.2.2.    BY END-USE INDUSTRY
5.5.2.3.    BY REGION
5.6.    PORTER’S FIVE FORCES ANALYSIS
5.6.1.    BARGAINING POWER OF SUPPLIERS
5.6.2.    BARGAINING POWER OF CONSUMERS
5.6.3.    THREAT OF SUBSTITUTES
5.6.4.    THREAT OF NEW-ENTRANTS
5.6.5.    COMPETITIVE RIVALRY INTENSITY
5.7.    PESTLE ANALYSIS
5.7.1.    POLITICAL
5.7.2.    ECONOMICAL
5.7.3.    SOCIAL
5.7.4.    TECHNOLOGICAL
5.7.5.    ENVIRONMENTAL
5.8.    IMPACT OF COVID-19 ON GLOBAL INDUSTRY FILMS MARKET
5.8.1.    PRE-COVID MARKET SCENARIO
5.8.2.    POST-COVID MARKET SCENARIO

CHAPTER 6.    GLOBAL INDUSTRIAL FILMS MARKET ANALYSIS, BY FILM TYPE
6.1.    INTRODUCTION
6.1.1.    BOPA/POLYAMIDE
6.1.2.    BOPET/PET
6.1.3.    BOPP/PP
6.1.4.    CPP
6.1.5.    HDPE
6.1.6.    LDPE
6.1.7.    LLDPE
6.1.8.    PVC
6.1.9.    OTHERS

CHAPTER 7.    GLOBAL INDUSTRIAL FILMS MARKET ANALYSIS, BY END-USE INDUSTRY
7.1.    INTRODUCTION
7.1.1.    AGRICULTURE
7.1.2.    CONSTRUCTION
7.1.3.    INDUSTRIAL PACKAGING
7.1.4.    MEDICAL
7.1.5.    TRANSPORTATION
7.1.6.    OTHERS

CHAPTER 8.    GLOBAL INDUSTRIAL FILMS MARKET ANALYSIS, BY REGION
8.1.    INTRODUCTION
8.1.1.    NORTH AMERICA
8.1.1.1.    UNITED STATES (U.S.)
8.1.1.2.    CANADA
8.1.1.3.    MEXICO
8.1.2.    SOUTH AMERICA
8.1.2.1.    ARGENTINA
8.1.2.2.    BRAZIL
8.1.2.3.    COLOMBIA
8.1.2.4.    REST OF SOUTH AMERICA
8.1.3.    EUROPE
8.1.3.1.    GERMANY
8.1.3.2.    FRANCE
8.1.3.3.    UNITED KINGDOM (UK)
8.1.3.4.    RUSSIA
8.1.3.5.    SPAIN
8.1.3.6.    ITALY
8.1.3.7.    SWITZERLAND
8.1.3.8.    REST OF EUROPE
8.1.4.    ASIA-PACIFIC
8.1.4.1.    CHINA
8.1.4.2.    JAPAN
8.1.4.3.    INDIA
8.1.4.4.    SOUTH KOREA
8.1.4.5.    AUSTRALIA
8.1.4.6.    INDONESIA
8.1.4.7.    SINGAPORE
8.1.4.8.    MALAYSIA
8.1.4.9.    REST OF ASIA-PACIFIC
8.1.5.    MIDDLE EAST
8.1.5.1.    EGYPT
8.1.5.2.    KUWAIT
8.1.5.3.    SAUDI ARABIA
8.1.5.4.    UNITED ARAB EMIRATES (UAE)
8.1.5.5.    REST OF MIDDLE EAST
8.1.6.    AFRICA
8.1.6.1.    EGYPT
8.1.6.2.    NIGERIA
8.1.6.3.    SOUTH AFRICA
8.1.6.4.    REST OF AFRICA
 
CHAPTER 9.    COMPETITIVE LANDSCAPE
9.1.    TOP WINNING STRATEGIES
9.1.1.    BY STRATEGY
9.1.2.    BY REGION
9.1.3.    BY YEAR
9.2.    COMPETITIVE HEATMAP
9.3.    PRODUCT BENCHMARKING
9.4.    STRATEGIC BENCHMARKING
9.4.1.    MERGERS & ACQUISITIONS
9.4.2.    STRATEGIC PARTNERSHIPS & COLLABORATIONS

CHAPTER 10.    PLAYER BENCHMARKING
10.1.    3M
10.1.1.    BUSINESS OVERVIEW
10.1.2.    PRODUCT OFFERINGS
10.1.3.    FINANCIAL OVERVIEW
10.1.4.    STRATEGIC BENCHMARKING
10.1.5.    SWOT ANALYSIS
10.2.    BERRY GLOBAL GROUP
10.2.1.    BUSINESS OVERVIEW
10.2.2.    PRODUCT OFFERINGS
10.2.3.    FINANCIAL OVERVIEW
10.2.4.    STRATEGIC BENCHMARKING
10.2.5.    SWOT ANALYSIS
10.3.    DUNMORE CORPORATION
10.3.1.    BUSINESS OVERVIEW
10.3.2.    PRODUCT OFFERINGS
10.3.3.    FINANCIAL OVERVIEW
10.3.4.    STRATEGIC BENCHMARKING
10.3.5.    SWOT ANALYSIS
10.4.    DUPONT TEIJIN FILMS
10.4.1.    BUSINESS OVERVIEW
10.4.2.    PRODUCT OFFERINGS
10.4.3.    FINANCIAL OVERVIEW
10.4.4.    STRATEGIC BENCHMARKING
10.4.5.    SWOT ANALYSIS
10.5.    EASTMAN CHEMICAL COMPANY
10.5.1.    BUSINESS OVERVIEW
10.5.2.    PRODUCT OFFERINGS
10.5.3.    FINANCIAL OVERVIEW
10.5.4.    STRATEGIC BENCHMARKING
10.5.5.    SWOT ANALYSIS
10.6.    KOLON INDUSTRIES
10.6.1.    BUSINESS OVERVIEW
10.6.2.    PRODUCT OFFERINGS
10.6.3.    FINANCIAL OVERVIEW
10.6.4.    STRATEGIC BENCHMARKING
10.6.5.    SWOT ANALYSIS
10.7.    MITSUBISHI CHEMICALS HOLDINGS CORPORATION
10.7.1.    BUSINESS OVERVIEW
10.7.2.    PRODUCT OFFERINGS
10.7.3.    FINANCIAL OVERVIEW
10.7.4.    STRATEGIC BENCHMARKING
10.7.5.    SWOT ANALYSIS
10.8.    MITSUI CHEMICALS TOHCELLO
10.8.1.    BUSINESS OVERVIEW
10.8.2.    PRODUCT OFFERINGS
10.8.3.    FINANCIAL OVERVIEW
10.8.4.    STRATEGIC BENCHMARKING
10.8.5.    SWOT ANALYSIS
10.9.    POLYPLEX
10.9.1.    BUSINESS OVERVIEW
10.9.2.    PRODUCT OFFERINGS
10.9.3.    FINANCIAL OVERVIEW
10.9.4.    STRATEGIC BENCHMARKING
10.9.5.    SWOT ANALYSIS
10.10.    RAVEN INDUSTRIES
10.10.1.    BUSINESS OVERVIEW
10.10.2.    PRODUCT OFFERINGS
10.10.3.    FINANCIAL OVERVIEW
10.10.4.    STRATEGIC BENCHMARKING
10.10.5.    SWOT ANALYSIS
10.11.    RKW SE
10.11.1.    BUSINESS OVERVIEW
10.11.2.    PRODUCT OFFERINGS
10.11.3.    FINANCIAL OVERVIEW
10.11.4.    STRATEGIC BENCHMARKING
10.11.5.    SWOT ANALYSIS
10.12.    ROGERS CORPORATION
10.12.1.    BUSINESS OVERVIEW
10.12.2.    PRODUCT OFFERINGS
10.12.3.    FINANCIAL OVERVIEW
10.12.4.    STRATEGIC BENCHMARKING
10.12.5.    SWOT ANALYSIS
10.13.    SAINT-GOBAIN
10.13.1.    BUSINESS OVERVIEW
10.13.2.    PRODUCT OFFERINGS
10.13.3.    FINANCIAL OVERVIEW
10.13.4.    STRATEGIC BENCHMARKING
10.13.5.    SWOT ANALYSIS
10.14.    SKC CO., LTD
10.14.1.    BUSINESS OVERVIEW
10.14.2.    PRODUCT OFFERINGS
10.14.3.    FINANCIAL OVERVIEW
10.14.4.    STRATEGIC BENCHMARKING
10.14.5.    SWOT ANALYSIS
10.15.    SOLVAY
10.15.1.    BUSINESS OVERVIEW
10.15.2.    PRODUCT OFFERINGS
10.15.3.    FINANCIAL OVERVIEW
10.15.4.    STRATEGIC BENCHMARKING
10.15.5.    SWOT ANALYSIS

CHAPTER 11.    APPENDIX
11.1.    PREMIUM INSIGHTS FROM INDUSTRY EXPERTS
11.2.    RELATED REPORTS