Global Polyester Film Market Shows Steady Growth with Key Applications in Packaging and Electronics
Vancouver, Oct. 30, 2023 (GLOBE NEWSWIRE) — The international polyester film market dimension was USD 38.72 Billion in 2022 and is anticipated to register a income CAGR of 6.6% through the forecast interval. Key elements driving this development embody the rising demand for versatile packaging supplies in Fast-Moving Consumer Goods (FMCG) merchandise, developments in movie manufacturing applied sciences, and the rising adoption of polyester movies in electrical and digital functions. The market can be benefiting from the demand for polyester fibers in textile and development industries.
Polyester movie, referred to as Polyethylene Terephthalate (PET) movie, is a strong and versatile polymer-based materials with distinctive mechanical, chemical, and thermal properties. It is very sturdy and may stand up to temperatures starting from -70°C to 150°C, making it important in varied industries. One of the numerous drivers of the market is the surging demand for versatile packaging supplies, particularly within the FMCG sector. The meals trade, specifically, depends on polyester movie attributable to its sturdiness, low moisture permeability, and skill to guard meals merchandise from contamination and spoilage.
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In addition to packaging, polyester movies discover functions in electrical insulation, printing, lamination, and protecting coatings. Manufacturers are increasing their manufacturing capabilities to fulfill the rising demand. For occasion, Toray Industries, Inc. lately developed an eco-friendly PET movie with enhanced utility and adhesion properties for water-based and solvent-free coatings, aiming to scale back solvent-derived carbon-dioxide emissions.
Despite its development, the polyester movie market faces competitors from different artificial fibers like nylon, acrylic, and viscose, which are sometimes thought-about extra comfy and environmentally pleasant in clothes functions. These options enable higher air circulation, enhancing breathability.
The market is segmented into Biaxially Oriented Polyester Film (BOPET) and Bubble Extruded movie varieties. BOPET, with its wonderful mechanical, thermal, and barrier properties, accounted for the most important income share in 2022. It is utilized in varied functions, akin to packaging, electrical insulation, and industrial functions. Manufacturers are investing in analysis and growth to create tailor-made BOPET merchandise to fulfill particular utility necessities.
In phrases of product thickness, polyester movies are categorized into totally different microns ranges. The < 50 microns polyester movie section captured the most important share in 2022. This section is standard for functions like cable overwrap, wires, transformers, membrane contact switches, and versatile circuit boards. It provides potential cost financial savings and long-term benefits, making it enticing for producers in search of financial and environmental advantages.
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The packaging sector was the most important utility section in 2022, pushed by the meals and beverage trade’s want for supplies that lengthen the shelf lifetime of merchandise. Polyester movie’s excessive barrier properties shield towards moisture, oxygen, and different contaminants, making it a great materials for packaging. The electrical and electronics section can be on the rise, because the demand for light-weight supplies will increase, notably within the automotive trade.
Regionally, the Asia Pacific market held the most important income share in 2022, pushed by elements like speedy industrialization, urbanization, and development within the manufacturing and gross sales {of electrical} and digital merchandise. Major gamers on this area, together with Toray Industries, Ltd. and Mitsubishi Polyester Films Co., Ltd., are increasing their manufacturing capability and investing in analysis and growth.
In North America, the market is anticipated to develop quickly because of the rising demand for packaging, electrical elements, and automotive functions. Durability and sustainability are driving the adoption of polyester fibers, and recycled polyester is gaining traction.
Scope of Research
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Report Details |
Outcome |
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Market dimension in 2022 |
USD 38.72 Billion |
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CAGR (2023–2032) |
6.6% |
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Revenue forecast to 2032 |
USD 71.83 Billion |
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Base yr for estimation |
2022 |
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Historical knowledge |
2019–2021 |
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Forecast interval |
2023–2032 |
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Quantitative models |
Revenue in USD Billion and CAGR in % from 2023 to 2032 |
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Report protection |
Revenue forecast, firm rating, aggressive panorama, development elements, and tendencies |
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Segments lined |
Type, product, utility, end-use, and area |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Country scope |
U.S., Canada, Mexico, Germany, France, U.Okay., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
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Key firms profiled |
DuPont, Teijin, Toray Industries, Reliance Industries, Indorama Ventures, China Petroleum & Chemical Corporation (Sinopec), Mitsubishi Chemical, BASF SE, Eastman Chemical Company, Formosa Plastics Corporation, Alpek SAB de CV, Nan Ya Plastics Corporation, Kolon Industries Inc., Lotte Chemical Corporation, Zhejiang Hengyi New Materials Co. |
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Customization scope |
10 hours of free customization and skilled session |
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Major Companies and Competitive Landscape
The international polyester movie market is fragmented, with giant and medium-sized gamers accounting for almost all of market income. Major gamers are deploying varied methods, getting into into mergers & acquisitions, strategic agreements & contracts, creating, testing, and introducing more practical polyester movie. Some of the main firms included within the international polyester movie market report are:
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DuPont
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Teijin
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Toray Industries
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Reliance Industries
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Indorama Ventures
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China Petroleum & Chemical Corporation (Sinopec)
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Mitsubishi Chemical
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BASF SE
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Eastman Chemical Company
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Formosa Plastics Corporation
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Alpek SAB de CV
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Nan Ya Plastics Corporation
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Kolon Industries Inc.
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Lotte Chemical Corporation
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Zhejiang Hengyi New Materials Co.
Strategic Development
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On 22 March 2023, Kolon Industries’ Institute for Future Technology introduced that it has partnered with Stora Enso Oyj, a world chief in biomaterials from Finland, to develop environmentally pleasant plastics. Stora Enso is a well known producer of biocomposite merchandise and packaging with expertise that converts plant uncooked supplies into chemical uncooked supplies for plastics. The two firms will deal with creating Polyethylene Furanoate (PEF) merchandise, the next-generation bioplastic.
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On May 28, 2020: BASF and Red Avenue New Materials Group to supply licensed compostable aliphatic fragrant copolyester (PBAT) – Signed a joint settlement granting a gross sales license to Red Avenue New Materials Group customary. Red Avenue New Materials Group will build its 60,000-ton capability PBAT plant in Shanghai utilizing BASF’s course of expertise. In return, BASF will obtain access to uncooked supplies from this manufacturing unit, which it plans to promote as Ecoflex.
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Segments Covered in Report
For the aim of this report, Emergen Research has segmented the worldwide polyester movie market on the idea of sort, expertise, utility, end-use, and area:
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< 15 microns Polyester Film
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15-30 microns Polyester Film
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30-60 microns Polyester Film
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> 60 microns Polyester Film
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Packaging
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Lamination
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Imaging
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Others
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