High Performance Films Market will grow at 6% by 2024
Date: 2018-10-23   Author: Rahul Varpe  Category: #technology

High Performance Films Market will grow at 6% by 2024

The application spectrum of high performance films market is indeed appreciable. Subject to the product properties of chemical inertness and low moisture absorption coupled with its dielectric and low friction co-efficient properties, these films find applications across microphone, photovoltaic devices, and cable insulation, thereby propelling high performance films market trends. 

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The extensive commercialization of the packaging sector will lead High Performance Films Market to carve a rather profitable roadmap for itself. This can be attributed to the excellent mechanical and aesthetic properties that high performance films possess, owing to which they are used for durable and lightweight packaging applications. Flexible packaging market, slated to grow at a rate of 5% over 2016-2024, will also contribute toward high performance films industry share. These films are endowed with the characteristics of durability, high chemical resistance, high tensile strength, UV ray protection, and temperature and light control, owing to which they find applications in the food & beverage, interior decoration, and construction sectors, thereby propelling the business trends.

Microporous films are defined by the properties of low moisture absorbing, water repellence, and air penetration, pertaining to which they are extensively used for waterproofing application across the constructions sector. On these grounds, microporous high performance films market will grow at a rate of 4% over 2016-2024.

Polycarbonate products, endowed with the properties of high glass transition temperature, excellent impact resistance, and durability, are used in the manufacturing of automotive, & aircraft components, construction material, data storage discs (DVDs, BluRay discs, and CDs), and other electronic components. On these grounds, polycarbonate high performance films industry size will surpass 500 kilo tons by 2024, in terms of volumes. 

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High performance films find applications in feminine and adult incontinence products and disposable diapers, pertaining to which high performance films share from the personal care sector is anticipated to cross 940 kilo tons by 2024, in terms of volume, with a CAGR estimation of 4% over 2016-2024. Increasing awareness regarding health and hygiene will further augment the product demand.

Polyester is one of the key products of high performance films industry. It is one of the most favorable products suitable for the packaging sector. Escalating urbanization trends couples with huge investments in the residential constructions sector will spur polyester high performance films market, which held a valuation of more than USD 20 billion in 2015. 

High performance films market from the construction sector is anticipated to cross USD 3 billion by 2024, pertaining to the aesthetic and mechanical properties of these films. The surging automotive sector across APAC coupled with reduced manufacturing costs and the huge availability of cheap labor will stimulate Asia Pacific high performance films industry, which was worth more than USD 9 billion in 2015. 

High performance films industry involves the participation of numerous companies that accumulate a significant share of other industries as well. The reason for this may be credited to the broad end-use spectrum of high performance films market. Renowned biggies such as Bayer Material Science, Dow Chemical Company, 3M, Honeywell, Bernis, DuPont, Evonik, Sealed Air Corp., and Clopay Plastic are key participants of global high performance films market. 

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Keeping in line with the conventional industry trends, companies often engage in partnerships and strategic collaborations with third party vendors to expand their geographical presence. The 2012 alliance between Solutia and the Eastman Chemical Company is an example of one such collaboration that served to expand the presence of the latter to a considerable extent.
 



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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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