Sales of specialty, high-performance films to generate $42.2 billion by 2019
In 2012, the global market for specialty and high-performance films was worth $27.4 billion. Between 2013 and 2019, its value is expected to grow at a compound annual rate of 6.4%, which will lift revenues to $42.2 billion by the end of the period. The increase in value will come as demand rises to 12.2 million tons from 8.3 million tons in 2012, which translates into annual growth of 5.7%, Transparency Market Research (TMR) forecasts in a new report.
The publication deals with demand for products made of polyester, nylon, fluoropolymer, polycarbonate and other polymers. When it comes to growth constraints, TMR sees oil price volatility as key among them. These prices affect the cost of downstream products and could impact demand for specialty and high performance films. On the other hand, the sharper focus on environmentally friendly products is expected to create new opportunities in this market as biodegradable and water soluble products are developed and commercialized, TMR notes.
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With regard to end users, the packaging industry is currently the top consumer of specialty and high performance films: in 2012, it was responsible for more than 65% of overall market value. Demand from the industry is expected to remain strong in the years ahead given greater hygiene awareness on the part of consumers and the associated growth in demand for packaged goods. However, the construction industry is forecast to deliver the strongest growth due to rising demand for light control films in countries such as the United States, Japan, China and India.