North America High Performance Films Market to hit USD 16 billion by 2024
Date: 2018-12-13   Author: Rahul Varpe  Category: #news

North America High Performance Films Market to hit USD 16 billion by 2024

European industry is predicted to register CAGR of more than 4.6% during forecast timeline. Industry growth in countries like France, Germany and UK are predicted to contribute towards regional industry growth.

U.S. high performance films market share is projected to cross $3.1 billion mark by end of forecast timeframe. Rise in construction activities in U.S. is one of the key factors contributing to the regional industry growth. Other key factors contributing to the regional industry growth being rapid CAGR contribution by packaging and electrical applications owing to use of packaging in food & beverage segment along with expansion of consumer electronics sector in U.S.

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Asia Pacific automotive applications are predicted to reach over 230 kilo tons with growth over 5% by 2024. Growing automobile production rate due to easy and low price labor availability will positively impact the industry outlook.

North America high performance films market size was valued at over USD 4 billion in 2015 and is expected to witness substantiate growth on account of increasing demand for food and beverage industry. Increasing barrier film demand from semiconductor and PV cell manufacturing industry owing to its water repellant property will further augment the industry landscape.

According to a new research report by Global Market Insights, Inc. High Performance Films Market size is set to cross USD 54 billion by 2024.

Global High Performance Films Market size contributed higher than $30.1 billion for 2015 and is predicted to record CAGR of more than 6.1% during forecast timeline. Increased choice for robust and high tensile packaging substances due to its heavy chemical resistant features is predicted to propel industry expansion.New inventions in packaging in terms of barrier properties coupled with best aesthetic worth are few of the aspects predicted to propel demand for high performance films. In addition to this, development in electronics sector, pharmaceuticals and other non-food retail items sector is predicted to boost industry growth.

Browse Report Summery @ https://www.gminsights.com/industry-analysis/high-performance-films-market-report

Rising demand for readymade diets, on-the-go foods and frozen foods is predicted to promote high performance industry expansion. Global food packaging expenditure was more than $252 billion for 2014 and projected to exceed $301 billion by end of forecast timeframe.

Global high performance films industry is segmented into various products like fluoropolymer, nylon, polycarbonate and polyester. Polyester films produced revenue of about $20 billion for 2015. Strong pointers from packaging applications, construction & housing expenditure, fast modernization and retail chain growth in BRICS (Brazil, Russia, India, China and South Africa) countries can propel segment growth. Nylon films segment are predicted to experience growth of about 4.6%. Their applications in construction sector, food & beverage sector and automotive sector in Asia Pacific can promote product demand.

Polycarbonate films segment can experience substantial gains at more than 6.6% and exceed 551 kilo tons of output by end of forecast timeline. The factors predicted to contribute towards segment growth are properties like high durability, high glass transition temperature and high resistance of these films along with its applications in manufacturing of data storage disks, parts of aircraft, electronic parts, automotive components and construction materials.

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Key industry participants profiled in the report include Bemis Company Incorporation, Sealed Air Corporation, The Dow Chemical Company, American Durafilm Company Incorporation, Eastman, Clopay Plastic Products, DuPont, Bayer MaterialScience, Eastman Chemical Company, Evonik Industries, Honeywell International Incorporation and 3M.



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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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