Global Specialty Films Market to Reach US $29.77 billion in 2014
06 November 2009
Leatherhead, UK, 6 November, 2009. The global market for specialty films is projected to reach US $22.18 billion in 2009.Representing a healthy CAGR of 6.1%, the market is forecast to grow by an overall 34.2% to reach US $29.77 billion by 2014, according to a new study by Pira International.
Based on primary research and expert analysis, The Future of Specialty Films breaks down the global market by specialty film applications, materials, end-use markets, regions and countries, with five-year forecasts to 2014. The study also provides an up-to-date overview of key drivers and trends and explores the exciting world of cutting-edge technology innovations affecting the global specialty film market.
Specialty films are films that have a special function or feature, and are often referred to as 'high-performance polymers'. They are essentially newer, relatively small-volume, niche polymers and are more expensive than commodity films. Six major resin classes generally make up the specialty films category, i.e. polyesters, nylons, polyolefin-based films such as EVOH and PVdC, polycarbonates, fluoropolymers and polyimides.
The key trends expected to drive the specialty films industry in the 2009-14 period include the technologies capable of making polymers more sustainable, compostable, recyclable and re-usable over longer time spans, as also polymers that can show increased yields while cutting down on material use and costs. Increasing demand for fresh, longer-lasting food products is also a prime catalyst for booming sales for flexible packaging, which represents the most dynamic sector in the specialty films industry.
Satisfying customers through competitive pricing, ability to meet stringent client specifications, and ease of processing on faster machines is now perhaps the critical industry differentiator. To achieve this optimum balance, specialty film producers in developed countries have been increasingly shifting their plant and research and developments sites to favourable offshore locations like eastern Europe, India, northern Mexico, Indonesia and Vietnam in 2008 and 2009.
The barrier films market, which constitutes half of all demand for specialty films in 2009, is by far the largest sector in the industry. The report states that the global sales of barrier films are expected to be close to US $12 billion in 2009, and this is forecast to increase to US $14.6 billion by 2014.
The annual growth rates for the three categories of film covered in the report (oxygen and gas-barrier films; moisture-barrier films; and other barrier films) are below the market average, but this is the norm for such a mature segment. However, the magnitude of sales in the sector is attracting substantial money for research and development activities which, in turn, is bringing in a host of new products into the market.
According to the study, the four key areas of innovation in the specialty films industry in 2009 have been bio-plastic films, films for organic light emitting diodes(OLEDs) and solar cells, conductive films and films for the photovoltaic module market. The biodegradable, water-soluble and food contact versions of specialty films have been performing well despite the current economic climate, with their projected sales growth expected to be 13%, 9.8%and 8.3% respectively in the forecast 2009-14 period.
The study goes on to predict that in material terms, bio-based polymers will witness annual growth rates of 13% in the 2009-14 period, more than double the normal market average. With regard to end-use segments, photovoltaic modules, bags, and safety and security films will perform impressively during this forecast period. Region-wise, South America, eastern Europe and Asia (with the exception of Japan) will perform well above the global average, while the mature North American and western European markets are expected to perform below the global average.
Despite the shadow of economic recession, the estimated growth rates in developed nations like Japan and the UK will be fairly satisfactory, with CAGRs of 3.3% in Japan and 5.5% in the UK. Demand for newer generations of specialty films like the bio-based and photovoltaic module sectors, is driving most of this sales growth. Emerging countries like the BRIC nations (Brazil, Russia, India and China) will have the highest growth rates, with CAGRs ranging from 9.1% in Russia to 10.3% in Brazil.
The Future of Specialty Films is available now for £3,500. For more information, please contact Stephen Hill on +44 (0) 1372 802025, or contact us online
Press contact: For editorial queries, details of the report or an expanded article please contact: Rebecca Leigh +44(0)1372 802207 rebecca.leigh@pira-international.com
Pira International
Pira International - the worldwide authority on packaging, paper and print industry supply chains
Established in 1930, Pira provides strategic and technical consulting, testing, intelligence and events to help clients gain market insights, identify opportunities, evaluate product performance and manage compliance.