Specialty and high performance films are made of polymer films that are either transparent or opaque. Polyesters, fluoropolymers, and polycarbonates are the primary raw ingredients used in the creation of these films. The key end-use sectors for speciality and high performance films include packaging, automotive, electrical & electronics, and construction. These films are gaining popularity in a variety of industries, owing to their strong chemical resistance, tensile strength, and impact resistance.
The expansion of the flexible packaging sector as a result of increased demand for decorative interiors and food and beverages is expected to have a favourable impact on market growth in the coming years. Stringent controls on the usage of plastic materials, along with increased environmental concerns, are expected to stymie industrial expansion. R&D related to the creation of bio-degradable and recyclable plastic materials, on the other hand, is likely to provide new avenues for market expansion over the forecast period.
Rising demand for specialty and high performance films market as an insulator in the electrical and electronics industry is expected to be a key driver for market growth. Rising government spending, increasing consumer demand, coupled with a favorable investment climate in the emerging economies such as China, Taiwan, Japan, and India, are likely to drive the electrical and electronics sector. This, in turn, is expected to have a positive impact on industry growth over the forecast period.
The industry is expected to witness high industry rivalry owing to the presence of numerous manufacturers with a strong foothold in the industry. However, fluctuating prices of crude oil and naphtha, which are the primary raw materials for the industry, are likely to affect the market growth over the projected period. Manufacturers are likely to undergo integration across the value chain to reduce manufacturing cost, meet rising consumer demand, and increase profit margins.
Manufacturers' efforts to increase film durability, strength, and quality in order to fulfil consumer demand as well as demanding criteria are projected to drive demand in the next years. Globally, barrier films dominated the market. It has good oxygen barrier qualities, thermal resistance, and flex crack resistance. Furthermore, outstanding qualities such as water vapour and gas barrier performance aid in the protection of the finished product against corrosion, moisture absorption, oxidation, and drying.
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