Global Industrial Films Market to Reach US$ 68.2 Billion by 2032, Propelled by Rising Product Demand in the Agriculture Industry

IMARC Group's latest report, titled "Industrial Films Market Report by Type (Linear Low-Density Polyethylene (LLDPE) and Low-Density Polyethylene (LDPE), High-Density Polyethylene (HDPE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polyamide, and Others), End Use Industry (Agriculture, Industrial Packaging, Building and Construction, Healthcare, Transportation, and Others), and Region 2024-2032," finds that the global industrial films market size reached US$ 43.4 Billion in 2023. Industrial films refer to a type of plastic that offers excellent chemical resistance and adaptability to harsh environments. They are made by extruding polymer materials, including polyethylene, polypropylene, polyethylene terephthalate, and polyamide. The enhanced tensile strength, improved impact resistance, and efficient use of materials in these films have enabled manufacturers to create thinner films without compromising strength, resulting in high cost and resource savings. These films help enhance crop quality and productivity by preventing soil erosion, increasing soil temperature, providing nutrients, protecting against UV rays, rain, and wind, and inhibiting weed growth. They are known for their excellent waterproofing, clarity, and durability. As a result, industrial films find extensive applications in the automotive, transportation, construction, agriculture, medical, and electrical and electronics industries across the globe. 

Global Industrial Films Market Trends:

The rising product demand in the agriculture sector due to their cost-effectiveness over conventional farming techniques represents the primary factor driving the market growth. In addition, the increasing use of industrial films for farming and gardening applications, including greenhouse, silage, mulching, walk-in tunnel, and low tunnel covers, is another major growth-inducing factor. Moreover, numerous product innovations, such as the introduction of near-infrared radiation (NIR)-blocking films, UV-blocking films, and fluorescent films, have catalyzed the market growth. Additionally, the surging adoption of high-productivity farming practices owing to decreasing availability of arable land across the world and rapid urbanization is positively influencing the market growth. Along with this, the escalating demand for food due to the expanding global population is creating a favorable outlook for the market. Besides this, the rising use of industrial films in the production of cover films for electronic devices is propelling market growth. Furthermore, the surging popularity of industrial films owing to increasing demand for high-value-added products such as smartphones, tablets, and laptops is contributing to the market growth. Other factors, including ongoing research and development (R&D) activities, heavy investments in the development of flexible and transparent bi-axial films, and inflating consumer disposable incomes, are also anticipated to drive the market further. Looking forward, IMARC Group expects the market value to reach US$ 68.2 Billion by 2032, growing at a CAGR of 5% during 2024-2032.

Market Summary:

• Based on the type, the market has been divided into linear low-density polyethylene (LLDPE) and low-density polyethylene (LDPE), high-density polyethylene (HDPE), polyethylene terephthalate (PET), polypropylene (PP), polyvinyl chloride (PVC), polyamide, and others. 
• On the basis of the end use industry, the market has been categorized into agriculture, industrial packaging, building and construction, healthcare, transportation, and others. 
• Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
• The competitive landscape of the market has also been examined with some of the key players being Berry Global Inc., Bogucki Folie, Compagnie de Saint-Gobain S.A., Cosmo Films Limited, Dupont Teijin Films US, Inteplast Group Corporation, Jindal Poly Films, Mitsui Chemicals Tohcello Inc. (Mitsui Chemicals Inc.), Polyplex Corporation Limited, SKC Co. Ltd., Toray Industries Inc., Toyobo Co. Ltd., and Unitika Ltd.

Report Coverage:

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