Flexible Film Market Major Key Players and Stockholders, Business Strategy Analysis by Distributors, Industry Size with Share and Business Expansion Plans till 2026
The global flexible films market size is expected to showcase exponential growth by reaching USD 133,760.1 million by 2026 while exhibiting a CAGR of 6.0% between 2020 and 2026. The growth is attributable to the increasing demand for eco-friendly flexible films and the growing demand from the electronics industry globally. This information is published by Fortune Business Insights, in its latest report, titled, “Flexible Films Market Size, Share & Industry Analysis, By Raw Material (Polypropylene {BOPP and CPP}, Polyester / BOPET {Thin Film and Thick Film}, and Others), Application (Packaging, Industrial, and Others), and Regional Forecast, 2020-2026.” The report further mentions that the market stood at USD 88,702.8 million in 2019.
Market to Thrive amid COVID-19 Backed
by Surge in Pharmaceutical & Packaged Food Sales
The global pandemic, COVID-19, is
expected to have a positive impact on the market. The growing awareness
regarding hygiene and the rising consciousness amongst people to stay healthy
is likely to favor the demand for package food products. This is expected to
positively affect the demand for flexible packaging films across the
globe.
Flexibles films are primarily
manufactured by using raw materials such as polypropylene, polyethylene, and
polyester. These films are available in the market in several sizes that vary
as per the requirement. Additionally, they provide beneficial properties such
as high resistance to heat, water, moisture, and chemicals that makes them
favorable across several end-user industries.
What does the Report Include?
The market report includes qualitative
and quantitative analysis of several factors such as the key drivers and
restraints that will impact growth. Additionally, the report provides insights
into the regional analysis that covers different regions, contributing to the
growth of the market. It includes the competitive landscape that involves the
leading companies and the adoption of strategies to announce partnerships,
introduce new products, and collaborate to further contribute to the growth of
the market between 2020 and 2026. Moreover, the research analyst has adopted
several research methodologies to extract information about the current trends
and industry developments that will drive the market growth during the forecast
period.
Browse Complete Report Summary@ https://www.fortunebusinessinsights.com/flexible-film-market-104653
DRIVING FACTORS
Increasing Demand for Electronics to
Augment Growth
According to the latest official data,
electronics import in India touched an astounding record of around USD 55.6
billion in 2019. The growing demand for electronics is expected to boost the
adoption of advanced flexible films to protect the components from external
damage. Moreover, the rising concerns over the adverse environmental effects of
high plastic use is driving the demand for eco-friendly alternatives. This is
anticipated to surge the demand for polyester-based flexible films that are
biodegradable in nature. These factors are expected to contribute to the global
flexible films market growth in the forthcoming years.
SEGMENTATION
Packaging Segment Held Largest Market
Share in 2019
The packaging segment, based on
application, held the largest market share in terms of revenue in 2019 and is
expected to showcase considerable growth during the forecast period. This is
ascribable to factors such as the increasing adoption of innovative flexible
films for packaging solutions across several industrial applications such as
food & beverage, automotive, and electronics.
REGIONAL INSIGHTS
Asia-Pacific to Remain Dominant;
Increasing Government Initiative to Reduce Plastic Waste to Favor Growth
Among all the regions, Asia-Pacific is
expected to remain dominant and hold the highest position in the global
flexible films market. This dominance is attributable to the increasing
government initiatives to reduce plastic waste that propels the demand for
advanced sustainable flexible films in the region between 2020 and 2026. Asia
Pacific stood at USD 46,540.4 million in 2019.
On the other hand, Europe is expected
to hold the second position in the market owing to the higher adoption of
flexible films in the automotive sector to prevent parts from damage due to
high temperature and stretches.
COMPETITIVE LANDSCAPE
Environmental Concerns Propel Market
Players to Introduce Eco-Friendly Products
The global flexible films market is
fragmented by the presence of major companies that are striving to maintain a
stronghold and gain a competitive edge over their rivals. These companies are
focusing on introducing eco-friendly flexible films to tackle the environment
issues and to further reduce carbon footprint. Furthermore, other key players
are adopting organic and inorganic strategies to gain a major chunk of share in
the global marketplace.
Industry Development:
June 2020 - Innovia Films unveiled a new series of functional
recyclable BOPP-based films, Encore. These films are manufactured by adopting
renewable non-food raw materials. This is expected to lead to reduced adoption
of fossil-based virgin raw materials.
List of the Companies Profiled in the
Global Market for Flexible Films:
- Mondi Group (Austria)
- Innovia Films (UK)
- Amcor Ltd (Australia)
- Bemis Company, Inc. (US)
- The Wipak Group (Finland)
- LINPAC Group (UK)
- Jindal Poly Films Ltd. (India)
- Berry Plastics Corporation (US)
- AEP Industries Inc. (US)
- Max Speciality Films Limited (India)
- Polyplex (India)
- CHIRIPAL POLY FILM (India)
- Cosmo Films Ltd. (India)
- Uflex Limited (India)
- Novus Holdings (South Africa)
- Flex Films (India)
- CTP Flexibles (South Africa)
- AMPAFLEX (South Africa)
- Others
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