San Francisco, California, Nov. 17, 2014 (GLOBE NEWSWIRE) -- Global specialty & high performance films market is expected to reach USD 44.59 billion by 2020, according to a new study by Grand View Research, Inc. Specialty & high performance films market is expected to be benefited by increasing demand for durable & high tensile packaging materials possessing superior chemical properties. Technology advancement in terms of composite material films development is expected to further augment specialty & high performance films market growth.
Packaging was the largest end-use segment with demand estimated at over 6.20 million tons in 2013 owing to increasing use of films in flexible packaging of food & beverages and consumer goods. Specialty & high performance films are increasingly being used in electronics industry for semiconductor insulation in PV cells. Increasing utility solar PV cells installations as a result of sustainability initiatives by key countries including Germany, Spain and China is expected to fuel specialty & high performance films market growth.
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Further key findings from the study suggest:
- Global specialty & high performance films demand was estimated at 8.64 million tons in 2013 and is expected to reach 12.73 million tons, growing at a CAGR of 5.7% from 2014 to 2020.
- Polyester was the largest used product segment with an estimated demand of over 6.50 million tons in 2013 owing to high flexibility and thermal characteristics making it suitable for use in various end-use segments including packaging and construction.
- Barrier films dominated the application segment with demand exceeding 50% of global volume in 2013. The segment is expected to witness growth owing to increased use in solar PV cells and semiconductor insulation.
- Construction industry is expected to have high demand for specialty & high performance films over the forecast period due to lightweight and enhanced safety characteristics. Increased infrastructure spending in China, Brazil, U.S. and UAE is expected to positively impact films demand.
- Asia Pacific was the largest regional market for specialty and high performance films accounting for over 35% of global demand in 2013. Favorable regulatory scenario coupled with abundant raw material availability and growing electronics industry is expected to be key factors influencing market demand.
- The market is characterized by product differentiation and application development resulting in high degree of competition among key participants. Key companies in the market include DuPont, Eastman, Honeywell and Dow and accounted for major chuck of market share in 2013.
Full report on Global Specialty And High Performance Films Market: http://www.grandviewresearch.com/industry-analysis/specialty-and-high-performance-films-market
For the purpose of this study, Grand View Research has segmented the global specialty & high performance films market on the basis of product, application, end-use and region:
Specialty & High Performance Films Product Outlook (Volume, Million Tons; Revenue, USD Billion, 2012 - 2020)
• Others (Propylene, Cyclo-olefin copolymer, polyethylene naphthalate)
Specialty & High Performance Films Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2012 - 2020)
• Safety & Security
Specialty & High Performance Films End-Use Outlook (Volume, Million Tons; Revenue, USD Billion, 2012 - 2020)
• Personal Care Products
• Electrical & Electronics
Specialty & High Performance Films Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2012 - 2020)
• North America
• Asia Pacific
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Source:Grand View Research