According to the new market research report “Industrial Films Market by Film Type (LLDPE, LDPE, HDPE, PET/BOPET, PP/BOPP, CPP, PVC, Polyamide/BOPA), By End-use Industry (Transportation, Construction, Industrial Packaging, Agriculture, Medical), and Region – Global Forecast to 2025″, published by MarketsandMarkets, the Industrial Films Market size is expected to grow from USD 39.4 billion in 2020 to USD 49.0 billion by 2025, at a CAGR of 4.5% during the forecast period. Industrial films are used across industries, such as agriculture, transportation, electrical & electronics, photovoltaics, construction, industrial packaging, medical, and aerospace. In the industrial films market, agriculture is the key end-use industry owing to the wide applications of these films as greenhouse films, mulch films, silage films, and others in this sector.
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The LLDPE segment is the largest type of industrial films.
The industrial films market has been segmented based on film type into LLDPE, LDPE, HDPE, PET/BOPET, PP/BOPP, CPP, PVC, Polyamide/BOPA and others. Among these types, the LLDPE segment accounted for the largest share of the market in 2019 and is likely to witness a significant growth during the forecast period. The market growth in this segment is attributed to their wide applications and superior properties such as impact & tensile strength and heat sealability LLDPE is replacing LDPE in many areas such as industrial packaging and agriculture, but there are some differences in their properties that make both these films suitable for diversified applications.
The agriculture end-use industry is expected to register the highest CAGR in the global industrial films market during the forecast period.
The agriculture end-use industry segment is growing rapidly. The decreasing arable land, coupled with rising demand for food, which is driving the need for modern farming techniques, which, in turn, is fueling the demand for plastic films in the agriculture industry. The segment is expected to dominate the industrial films market owing to the rising need for food, driven by the growth of the global population. This has led to the development of advanced cultivation methods that can increase crop productivity and resist climatic changes.
APAC is expected to hold the largest market share in the global industrial films market during the forecast period.
APAC is estimated to be the leading industrial films market during the forecast period. The growth in this region can be attributed to the rapidly increasing demand for industrial films from the end-use industries, especially agriculture, construction, transportation and medical. The market is witnessing moderate growth, owing to increasing application, technological advancements, and growing demand for these resins in the APAC and Europe.
Saint-Gobain (France), Berry Global group (US), SKC Co. Ltd. (South Korea), Toray (Japan), and Eastman (US), DSM-RKW SE (Germany) and 3M (US) are the leading industrial films manufacturers, globally.
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