Global Industrial Films Market

Industrial Films Market Size, Share, Growth Analysis, By Type(LLDPE, LDPE, HDPE, PET), By Application(Agriculture, industrial packaging, building and construction, healthcare), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20I2175 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 68 |Figures: 75

Industrial Films Market Insights

Global Industrial Films Market size was valued at USD 40.90 billion in 2021 and is poised to grow from USD 42.78 billion in 2022 to USD 61.31 billion by 2030, growing at a CAGR of 4.6% during the forecast period (2023-2030).

Global Industrial Films Market is driven by the growing demand for industrial films in emerging economies, advancements in technology, and the increasing need for efficient and cost-effective solutions. The automotive industry is a major consumer of industrial films, utilizing them for surface protection, interior parts, and window films. Packaging applications include flexible packaging, stretch and shrink films, and barrier films. The construction industry relies on industrial films for waterproofing, insulation, and UV protection. Additionally, the agricultural sector utilizes these films for greenhouse coverings, mulching, and silage bags. With the rising awareness of environmental concerns, there is a growing demand for sustainable and biodegradable films, driving innovation and research in the industry. The market is highly competitive, with key players focusing on product development, mergers and acquisitions, and expanding their global presence. Overall, the global market is poised for significant growth in the coming years, driven by technological advancements, expanding end-use industries, and the pursuit of sustainable solutions.

Market Snapshot - 2024-2031

Global Market Size

USD 40.90 billion

Largest Segment

LDPE

Fastest Growth

LDPE

Growth Rate

4.6% CAGR

Global Industrial Films Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Industrial Films Market Segmental Analysis

Global Industrial Films Market is segmented by type, application, and region. Based on type, the market can be segmented into LLDPE, LDPE, HDPE, PET, PP, PVC and others. Based on application, the market is segmented into Agriculture, industrial packaging, building and construction, healthcare, transportation and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Type

The dominant segment in the Global Industrial Films Market is LDPE (Low-Density Polyethylene). LDPE films are widely used due to their excellent flexibility, moisture resistance, and chemical stability. They find extensive applications in packaging, agriculture, and construction industries. LDPE films offer exceptional sealability and are commonly used in food packaging, pharmaceuticals, and consumer goods. The dominance of LDPE can be attributed to its versatility, cost-effectiveness, and wide availability.

On the other hand, the fastest-growing segment in the Global Industrial Films Market is PET (Polyethylene Terephthalate). PET films are witnessing rapid growth due to their exceptional mechanical strength, optical clarity, and high-temperature resistance. These films are extensively used in the automotive industry for laminating glass, as well as in electronics, solar panels, and medical applications. The increasing demand for lightweight and eco-friendly materials, coupled with the rising adoption of PET films in various sectors, is driving the significant growth of this segment in the industrial films market.

Analysis by Application

The dominant segment in the Global Industrial Films Market is industrial packaging. Industrial packaging applications include flexible packaging, stretch and shrink films, and barrier films. The demand for industrial films in packaging is driven by the need for efficient and cost-effective solutions for protecting and preserving products during storage and transportation. These films provide excellent barrier properties, such as moisture resistance, oxygen barrier, and UV protection, making them ideal for various industries like food and beverages, consumer goods, and pharmaceuticals.

The fastest-growing segment in the Global Industrial Films Market is healthcare. Industrial films play a crucial role in the healthcare sector, providing protection, hygiene, and functionality in applications such as medical packaging, disposable medical products, surgical drapes, and wound dressings. The increasing focus on infection control, advancements in medical technology, and the rising demand for single-use and sterile products are driving the growth of industrial films in the healthcare industry. Additionally, the COVID-19 pandemic has further emphasized the importance of medical packaging and protective films, contributing to the rapid expansion of this segment in the industrial films market.

Global Industrial Films Market By Type, 2023 (%)

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Industrial Films Market Regional Insights

Asia Pacific dominated the Global Industrial Films Market. The region holds a significant share of the market due to the presence of major manufacturing hubs, rapid industrialization, and a large consumer base. Countries like China, India, Japan, and South Korea are key contributors to the growth of the industrial films market in Asia Pacific. The region's robust manufacturing sector, particularly in automotive, electronics, and packaging industries, drives the demand for industrial films for various applications.

The Middle East and Africa (MEA) is the fastest-growing region in the Global Industrial Films Market. The MEA region is experiencing substantial growth in industrial films due to expanding industries, infrastructure development, and increasing investments in sectors like construction, automotive, and packaging. The rising population, urbanization, and economic diversification initiatives in countries such as Saudi Arabia, UAE, and South Africa are driving the demand for industrial films in the region. Moreover, the growing focus on renewable energy and agricultural activities further contributes to the rapid growth of the industrial films market in the Middle East and Africa.

Global Industrial Films Market By Geography, 2024-2031
  • Largest
  • Fastest

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Industrial Films Market Dynamics

Drivers

Increasing demand for efficient and cost-effective solutions across various industries

  • One key driver of the Global Industrial Films Market is the increasing demand for efficient and cost-effective solutions across various industries. Industrial films offer benefits such as protection, insulation, functionality, and enhanced product performance, which are highly sought after by sectors like automotive, packaging, construction, and agriculture. The need for innovative and sustainable solutions that can enhance productivity and reduce costs is a major driving factor for the market.

Restraints

Growing environmental concerns and regulations related to plastic waste

  • A key restraint of the market is the growing environmental concerns and regulations related to plastic waste. Industrial films, particularly those made from non-biodegradable materials, contribute to plastic waste accumulation and pose challenges to waste management and environmental sustainability. Governments and regulatory bodies are implementing stricter regulations on plastic usage and disposal, which may impact the demand for certain types of industrial films. The need for sustainable and eco-friendly alternatives is driving the industry to focus on the development of biodegradable and recyclable films to address these concerns.

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Industrial Films Market Competitive Landscape

The competitive landscape of the Global Industrial Films Market is characterized by intense competition and a diverse range of players operating in the industry. Key market participants focus on product development, technological advancements, and strategic partnerships to strengthen their market position. The market exhibits a mix of large multinational corporations and smaller regional players, catering to specific industry requirements. Innovation and differentiation through the development of eco-friendly films, customization options, and expanding distribution networks are crucial strategies adopted by companies to gain a competitive edge. Additionally, mergers, acquisitions, and collaborations are observed as a means to enhance market reach, expand product portfolios, and tap into new geographic markets.

Top Player’s Company Profiles

  • Sigma Plastics Group (US)
  • Mitsui Chemicals Tohcello, Inc. (Japan)
  • Berry Global Inc. (US)
  • Dow Inc. (US)
  • DuPont de Nemours, Inc. (US)
  • Exxon Mobil Corporation (US)
  • Toray Industries, Inc. (Japan)
  • RKW SE (Germany)
  • 3M Company (US)
  • SABIC (Saudi Arabia)
  • Klöckner Pentaplast (Germany)
  • Covestro AG (Germany)
  • Cosmo Films Limited (India)
  • Jindal Poly Films Limited (India)
  • Winpak Ltd. (Canada)
  • Mitsubishi Chemical Corporation (Japan)
  • Sealed Air Corporation (US)

Recent Developments

  • In May 2021, Mitsubishi Chemical Holdings Corporation, a Japanese chemical and pharmaceutical company, acquired Nakai Industrial Co. Ltd., a producer of industrial films, for an undisclosed amount. This acquisition enables Mitsubishi Chemical to enhance its film coatings production capabilities and cater to diverse customer demands.
  • In February 2021, INDEVCO Plastics Longview, LLC introduced new recyclable industrial films and bags that incorporate up to 50% recycled resin. The company launched a recyclable Shrink Bundling Film, specifically designed for the beverage and processed food industries, which utilizes 50% post-consumer recycled (PCR) resin. This innovation aims to promote sustainability by reducing the environmental impact of packaging materials.

Industrial Films Key Market Trends

  • One key market trend in the Global Industrial Films Market is the increasing demand for sustainable and eco-friendly films. With growing environmental concerns and regulations regarding plastic waste, there is a rising emphasis on developing and adopting industrial films that are biodegradable, recyclable, or made from renewable sources. This trend is driven by the need for environmentally responsible solutions and the growing preference of consumers and industries for sustainable packaging materials. Manufacturers are focusing on research and development to create innovative eco-friendly films that offer comparable performance and functionality to traditional films while minimizing their environmental impact.

Industrial Films Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Industrial Films Market analysis, the market is a diverse and competitive sector encompassing various types of films used in industries such as automotive, packaging, construction, and agriculture. LDPE stands as the dominant segment due to its versatility and cost-effectiveness, while PET is the fastest-growing segment, driven by its mechanical strength and high-temperature resistance. The market is segmented based on applications, with industrial packaging being the dominant segment and healthcare as the fastest-growing segment. Asia Pacific leads the market, propelled by manufacturing hubs and rapid industrialization, while the Middle East and Africa witness significant growth due to infrastructure development. The market is driven by the demand for efficient solutions, but faces restraints due to increasing environmental concerns. The competitive landscape features a mix of global players and regional companies focusing on product development and strategic partnerships. Overall, the market trends towards sustainable and eco-friendly films in response to environmental regulations and growing consumer preferences for environmentally responsible packaging materials.

Report Metric Details
Market size value in 2023 USD 40.90 billion
Market size value in 2031 USD 61.31 billion
Growth Rate 4.6%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • LLDPE, LDPE, HDPE, PET, PP, PVC and others
  • Application
    • Agriculture, industrial packaging, building and construction, healthcare, transportation and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Sigma Plastics Group (US)
  • Mitsui Chemicals Tohcello, Inc. (Japan)
  • Berry Global Inc. (US)
  • Dow Inc. (US)
  • DuPont de Nemours, Inc. (US)
  • Exxon Mobil Corporation (US)
  • Toray Industries, Inc. (Japan)
  • RKW SE (Germany)
  • 3M Company (US)
  • SABIC (Saudi Arabia)
  • Klöckner Pentaplast (Germany)
  • Covestro AG (Germany)
  • Cosmo Films Limited (India)
  • Jindal Poly Films Limited (India)
  • Winpak Ltd. (Canada)
  • Mitsubishi Chemical Corporation (Japan)
  • Sealed Air Corporation (US)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Industrial Films Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Industrial Films Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Industrial Films Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Films Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Films Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Industrial Films Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Industrial Films Market size was valued at USD 40.90 billion in 2021 and is poised to grow from USD 42.78 billion in 2022 to USD 61.31 billion by 2030, growing at a CAGR of 4.6% during the forecast period (2023-2030).

The competitive landscape of the Industrial Films Market is characterized by intense competition and a diverse range of players operating in the industry. Key market participants focus on product development, technological advancements, and strategic partnerships to strengthen their market position. The market exhibits a mix of large multinational corporations and smaller regional players, catering to specific industry requirements. Innovation and differentiation through the development of eco-friendly films, customization options, and expanding distribution networks are crucial strategies adopted by companies to gain a competitive edge. Additionally, mergers, acquisitions, and collaborations are observed as a means to enhance market reach, expand product portfolios, and tap into new geographic markets. 'Saint-Gobain Performance Plastics (France)', 'Toyobo Co., Ltd. (Japan)', 'Solvay (Belgium)', 'Sigma Plastics Group (US)', 'Mitsui Chemicals Tohcello, Inc. (Japan)', 'Berry Inc. (US)', 'Dow Inc. (US)', 'DuPont de Nemours, Inc. (US)', 'Exxon Mobil Corporation (US)', 'Toray Industries, Inc. (Japan)', 'RKW SE (Germany)', '3M Company (US)', 'SABIC (Saudi Arabia)', 'Klöckner Pentaplast (Germany)', 'Covestro AG (Germany)', 'Cosmo Films Limited (India)', 'Jindal Poly Films Limited (India)', 'Winpak Ltd. (Canada)', 'Mitsubishi Chemical Corporation (Japan)', 'Sealed Air Corporation (US)'

One key driver of the Industrial Films Market is the increasing demand for efficient and cost-effective solutions across various industries. Industrial films offer benefits such as protection, insulation, functionality, and enhanced product performance, which are highly sought after by sectors like automotive, packaging, construction, and agriculture. The need for innovative and sustainable solutions that can enhance productivity and reduce costs is a major driving factor for the market.

One key market trend in the Industrial Films Market is the increasing demand for sustainable and eco-friendly films. With growing environmental concerns and regulations regarding plastic waste, there is a rising emphasis on developing and adopting industrial films that are biodegradable, recyclable, or made from renewable sources. This trend is driven by the need for environmentally responsible solutions and the growing preference of consumers and industries for sustainable packaging materials. Manufacturers are focusing on research and development to create innovative eco-friendly films that offer comparable performance and functionality to traditional films while minimizing their environmental impact.

Asia Pacific dominated the Industrial Films Market. The region holds a significant share of the market due to the presence of major manufacturing hubs, rapid industrialization, and a large consumer base. Countries like China, India, Japan, and South Korea are key contributors to the growth of the industrial films market in Asia Pacific. The region's robust manufacturing sector, particularly in automotive, electronics, and packaging industries, drives the demand for industrial films for various applications.

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