Functional films Market Analysis including Growth, Challenges, Opportunities and Future Developments to 2027

Many sectors are interested in functional films for applications that need varying performance criteria of substrates. In order to create functional films, a variety of polymer films have been used. Their use in providing high barrier protection against heat, light, and moisture creates a huge opportunity in the functional films market for a variety of applications. Packaging, electronics, cars, energy, and life sciences are just a few examples. As adhesive films, functional films have grown in popularity. The rising application areas that require exceptional conductivity and optical performance have fueled demand in the functional films market.

The global functional films market is estimated to surpass US$ 37 billion by the end of 2027, in terms of revenue, growing at CAGR of 4.8% during the forecast period (2019 to 2027).

Material science advancements have enabled producers in the functional films market to create films with multi-functional qualities over the years. The report provides a critical evaluation of important growth factors, an overview of potential in major product segments, and insight into competitive dynamics.

Barrier films are a key emphasis area for various players in the functional films industry. Many manufacturers in the functional film market are also focusing on testing new materials for this purpose. A large body of research has found that pristine graphene has outstanding polymer film barrier characteristics. In recent months, firms have been exploring for ways to harness this material for high-value-grab possibilities in the functional film industry. Aspiring players are likely to exploit graphene as a major material in the development of functional films for niche applications such as sensitive electronics. The Graphene Council has endorsed pristine graphene's promising potential in the market for functional films.

Key players operating in the global functional films market are 3M, Toray Industries, Inc., Nagase & Co. Ltd., Eastman Chemical Company, and Tatsuta Electric Wire & Cable Co., Ltd.