Specialty Plastic Films Market Size, Application Potential, By Product, 2019-2025

Specialty Plastic Films Market size is projected to witness higher gains mainly due to rising product demand from food & beverage and pharmaceutical industry in the forecast timeframe. Growing population mainly in Asia Pacific will trigger food & beverage industry and thereby likely to make subsequent positive impact on the packaging films demand with special properties. This is due to the fact that food & beverage manufacturer prefer packaging material to extend shelf life of food with use of low artificial preservatives to improve the salability of the product.

Specialty plastic films possess several excellent characteristics including moisture resistance, low permeability to air, high flexibility, aesthetic value, etc. which makes it desirable across the aforementioned industries. Additionally, food & beverage industry manufacturers need to cope with the latest innovations and advancement and packaging, which contributes significantly to the brand value for consumers. These trends will contribute significantly to the specialty plastic films market share in the forecast timeframe. For instance, Indian FMCG sector which includes food & beverage, healthcare and household & personal care goods, is expected to witness growth over 5.5% by 2025. These instances are anticipated to drive the packaging material demand with special properties and thus likely to trigger specialty plastic films market size by 2025.

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Based on the resin, specialty plastic films market is segmented into polyester, nylon, fluoropolymer, polycarbonate and others including polyimide, polyolefin, etc. Polyester specialty plastic film is the most economical packaging film with superior properties including chemical resistance, dimensional stability, good tensile strength, tear resistance, etc.

Additionally, these films are ideal for photographic printing, digital printing, screen printing, offset/lithography printing, etc. which makes them desirable across end-users such as food & beverage and personal care industry to improve products aesthetic value along with indicating product specification.

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Based on application, specialty plastic films market is segmented into food & beverage, pharmaceutical, personal care, electrical & electronics and others such as construction, transportation, etc. In the pharmaceutical industry, specialty plastic films are used to manufacture pouches, laminate to foil, line trays, etc. for packaging drugs and other healthcare products. Furthermore, these films are widely applicable for packaging personal care products such as soap, shampoo and several other cosmetic products. Growing spending per capita income and changing lifestyles in Asia Pacific is a key contributor to the personal care industry in the region, which will have subsequent positive impact on the growth of specialty plastic films market size in the coming years.

North America specialty plastic films market contributes significantly to the overall industry share in 2018 and is likely to show positive gains with growing product demand from pharmaceutical, personal care and food & beverage industry. Key pharmaceutical players in the region are making substantial investment in their R&D facilities to innovate advanced products and drugs, which in turn will propel product demand, likely to drive the overall market size by 2025. According to International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), the pharmaceutical industry in the U.S. spent approximately USD 50 billion in 2017, which expenditure in the pharmaceutical section indicates positive growth indicators for the market size by 2025.

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Some of the key players in the industry are AkzoNobel, SABIC, DuPont Teijin Films, AEP Industries, Honeywell, Covestro, Toray Plastics, Berry, Sealed Air, RPC, Jindal Poly and Amcor. Most of these players are making significant investment to expand its production capacity to meet the consistently growing product demand from several end-user industries. For instance, Covstro AG announced about expanding new polycarbonate films capacity in Thailand in December 2018. This move was intended to improve the delivery times, increase its market access, and meet increasing product demand in Asia Pacific.

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