PUBLISHER: Grand View Research | PRODUCT CODE: 1571760
PUBLISHER: Grand View Research | PRODUCT CODE: 1571760
The global specialty & high performance films market size is anticipated to reach USD 67.43 billion by 2030, according to a new report by Grand View Research, Inc., growing at CAGR of 6.1% from 2024 to 2030. The demand for the product is primarily driven by robust and high tensile packaging application. Increasing demand for the product in premium food and cosmetics products owing to superior barrier properties is likely to augment growth over the projected period.
Superior flexibility, chemical inertness and light weight offered by the product as compared to its counterparts including metal and glass packaging are expected to provide a competitive advantage in packaging application over the next eight years.
Growing demand for the product in automotive applications to protect sunroofs, rear and side windows, windshields and to mask dashboards is expected to drive growth. In addition, the product is used as an insulating material for semiconductors in the electronics industry. High thermal resistivity of product is expected to propel its demand in electronic application over the next few years.
The industry is characterized by the presence of numerous players with wide product portfolio. The manufacturers are consolidating in order to reduce operational cost and increase profit margins. Rapid industrialization, rising consumer demand and low labor cost in Asia Pacific is anticipated to compel manufacturers to establish their production plants near close vicinity. However, volatile raw material prices and high competition is expected to pose a challenge for the industry players.