PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209901
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209901
According to Stratistics MRC, the Global Textile Films Market is accounted for $6.25 billion in 2022 and is expected to reach $10.26 billion by 2028 growing at a CAGR of 8.6% during the forecast period. Textile films are made from substances like polymers and sophisticated composites, which have mechanical qualities like flexibility and strength, as well as surface characteristics like hydrophobicity. Due to these characteristics, textile films can be used to meet demand from a variety of sectors, including the packaging, medical, and technical apparel industries.
According to India Brand Equity Foundation (IBEF), the textile industry in the country is expected to reach USD 209 billion by 2029. According to the Ministry of Industry (MOI), exports of textiles and textile products climbed by 19% to USD 10.52 billion from January to October 2021. In addition, the investment value of the sector rose by 12% to 5.06 trillion IDR, or USD 353.7 million.
Market Dynamics:
Driver:
High demand for personal protective equipment (PPE)
Healthcare workers who risk their lives on the front lines of the pandemic to combat the virus are more susceptible to infection because of their close contact with the victims. The danger of COVID-19 hospital transmission is reduced by personal protective equipment (PPE) for frontline healthcare employees. The typical PPE gear consists of a gown, a mask, a headcover, shoe covers, a face shield, gloves, and goggles. The majority of PPE kits are constructed of polymers. Film made of polyethylene or polypropylene is used to make headcovers. Nanofibers and non-woven polypropylene are used to make 3-ply masks. Film consisting of polypropylene or polyethylene is used to make disposable gowns. Stockpiles of surgical masks, gloves, and gowns were drastically depleted due to the sharp increase in demand, which resulted in a considerable price increase. Many textile and other sectors started producing gloves, masks, and PPE kits to help reduce this to some level. There is a huge need for such products because the number of cases is continually increasing daily.
Restraint:
Price fluctuations
The market's expansion is being constrained by the erratic pricing of raw materials. Petroleum products make up the majority of the raw ingredients used in the production of textile films. Recent price fluctuations for these raw materials, which reached a five-year low, had an impact on the market's expansion. However, varying raw material prices and the expensive cost of producing breathable films could somewhat impede market expansion.
Opportunity:
Increased usage of hygiene products
With a rising consciousness of the significance of cleanliness, the pandemic has enhanced the relevance of health. Baby diapers, feminine hygiene items, and adult incontinence products all make extensive use of polypropylene films. The American Urological Association estimates that between 25% and 30% of men and women in the US experience urine incontinence. Geriatrics is frequently affected by incontinence. However, this has evolved to encompass additional people as a result of the pandemic. The coronavirus infection in some patients has been linked to an increase in urine frequency, which has led to a rising incidence rate of incontinence, according to the National Center for Biotechnology Information (NCBI). Also, contributing to the high demand for disposable incontinence products is the rise in hospitalisations that have occurred as a result of the pandemic. Several businesses have developed business plans to take advantage of the expanding market as a result. Thus, the market for textile films is driven by the rising use of hygiene products.
Threat:
Concerns regarding waste disposal
Films made of polypropylene; polyethylene and polyurethane are frequently used in products like infant diapers, sanitary products, and medical textiles (such as surgical gowns, surgical masks, gloves, and PPE kits). Since the start of the epidemic, all of these products have seen widespread use. Although it is extensively used to make PPE kits, polypropylene is not biodegradable. This makes the problem of plastic trash, which already exists, worse. An extensive burden is being placed on healthcare waste management systems by the tens of thousands of tonnes of medical waste that have been produced in the two years since the coronavirus started spreading globally. The 87,000 tonnes of personal protective equipment (PPE) that were ordered through a UN portal, says the research, were largely wasted. Such challenges may prove to be difficult for the market for textile films.
COVID-19 Impact
Evaluation of the COVID-19's effects on the textile market for films In times of economic crisis, COVID-19 has an impact on the global financial system through affecting a variety of industries, such as manufacturing, through the development of delivery chains and market disruption, as well as through its financial impact on businesses and financial markets. Global market forecasts are predicted by research, which implies that vendors that report the COVID-19 disaster will have lucrative opportunities.
The breathable segment is expected to be the largest during the forecast period
The breathable segment is estimated to have a lucrative growth, due to it prevent water and other liquids from penetrating into the fabric but allow perspiration and water vapour to pass through and aid in evaporative cooling. Micro porous breathable films are favoured in medical applications such as surgical face masks and other disposable goods, while non-porous breathable films are frequently utilised in the textile sector. Breathable films are utilised as a back sheet in diapers, feminine hygiene products, and incontinence products because they keep the skin dry and stop liquid leakage. As a result, baby diapers with a permeable back sheet are better for the skin and aid in preventing rashes and other skin disorders. As a result, the market for textile films is predicted to be dominated by the breathable category.
The medical segment is expected to have the highest CAGR during the forecast period
The medical segment is anticipated to witness the fastest CAGR growth during the forecast period. Medical applications for polymeric films are numerous. These include things like hospital sheets, disposable surgical gowns, mattress covers, and surgical drapes. As an illustration, polyurethane film demonstrates qualities like biocompatibility, good wear and abrasion resistance, breathability, and elasticity that make it a great material for medical applications. Patients and personnel are protected from potentially dangerous bloodborne diseases by these films, which serve as both liquid and virus barriers. Thus, as the healthcare industry expands, so is the demand for medical textiles, which will drive growth in the textile film industry.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the expanding healthcare sector. According to Astride, Australia's health and medical sector has expanded significantly in size and reputation over the past ten years due to the country's innovative technologies, high professional skills, cutting-edge research and development, and reliable healthcare system. India's largest industry in terms of both employment and revenue is healthcare. Due to its top-notch surgeons and cheaper surgical costs when compared to the US and other western countries before the epidemic, India was one of the most popular locations for surgery. Therefore, this region is poised to dominate the textile films market because of the expanding medical and healthcare sectors.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the construction and sports industries are growing, which could increase demand for protective clothing. Maintaining adequate feminine and kid hygiene as well as growing healthcare costs are additional aspects anticipated to fuel the target market's growth in this area.
Key players in the market
Some of the key players profiled in the Textile Films Market include Covestro AG , CHIRIPAL POLY FILM, Schweitzer-Mauduit International, Inc, TORAY INDUSTRIES, INC, RKW SE, Jindal Poly Films, Berry Global Inc, Mitsui Hygiene Materials Co., Ltd., Arkema S.A., American Polyfilm, Inc, Dongying Gaolart Import & Export Co and Fatra A.S.
Key Developments:
In July 2021, Covestro developed solutions for wound dressings using the combination of a polypropylene liner with thermoplastic polyurethane films.
In April 2021, Schweitzer-Mauduit International finalized the acquisition of Scapa Group Plc, a UK-based innovation, design, and manufacturing solutions provider for healthcare and industrial markets.
In January 2020, TORAY INDUSTRIES, INC. launched the PICASUS VT has launched world's first film that helps in the transmitting the vertically incident light and reflects the obliquely incident Light. With this, TORAY INDUSTRIES, INC, has gained customer base of the company and generated revenue of the business.
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