Functional Films Market Global Forecast to 2030 - Functional Films Market Growth Expected to Ascend at a 7.2% CAGR by 2030, Driven by Electronics Industry Advancements

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Dec 19, 2023, 18:15 ET

DUBLIN, Dec. 19, 2023 /PRNewswire/ -- The "Functional Films Market by Type (Conductive Films, Optical Films, Protective Films, Barrier Films, Adhesive Films), Material (Polyethylene), End-Use (Packaging, Electronics, Automotive), Substrate (Glass, Plastic) and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The Functional films market size is projected to grow from USD 30.5 billion in 2023 to USD 49.6 billion by 2030, registering a CAGR of 7.2% during the forecast period. The functional films market is experiencing substantial growth driven by a convergence of key factors across various industries. The proliferation of electronic devices, coupled with advancements in flexible and lightweight technologies, propels the demand for conductive and protective films. Additionally, the rising significance of sustainable and high-performance packaging solutions fuels the adoption of barrier films. The expansion of end-use industries such as healthcare, automotive, and construction, coupled with increasing consumer awareness regarding product safety and longevity, further contributes to the market's growth.

Conductive Films accounted for the largest share in type segment of functional films market in terms of value.

Conductive films dominate the largest market share in the functional films market due to their versatile applications in various electronic devices and industries. These films, often composed of materials like indium tin oxide (ITO) or graphene, exhibit excellent electrical conductivity, transparency, and flexibility. As a result, they are extensively used in the production of touchscreens for smartphones, tablets, and other electronic displays. Moreover, conductive films find applications in the automotive sector for smart windows, heated mirrors, and transparent conductive coatings.

Polyethylene accounted for the largest share in material segment of functional films market in terms of value.

The dominance of polyethylene in the functional films market can also be attributed to its favorable properties in terms of ease of processing, lightweight nature, and chemical resistance. These characteristics make polyethylene an ideal material for various applications, such as greenhouse films in agriculture, geomembranes in construction, and hygiene films in the healthcare sector. The material's adaptability to different manufacturing processes and its ability to meet stringent industry standards contribute to its widespread use and market leadership in the functional films landscape.

Electronics end-user industry accounted for the largest share in end-use segment of Functional films market in terms of value.

The functional films market experiences robust growth primarily driven by its vital end-use in the electronics industry. The dominance of the electronic end-user segment is the relentless pursuit of miniaturization and lightweight design in electronic devices. Functional films facilitate the development of slim and lightweight gadgets without compromising on performance, making them indispensable in an increasingly mobile and technologically advanced world. The electronic industry's constant drive for efficiency, durability, and improved user experiences solidifies the electronic end-user segment's position as the largest market share holder in the functional films market.

Asia-Pacific is the largest market for Functional films.

The Asia Pacific region's prominence in the functional films market may be due to its aggressive implementation of sustainable practises and environmental legislation. As consumers and industries place a greater emphasis on environmentally friendly solutions, the region's commitment to sustainable manufacturing processes and materials, combined with a growing awareness of environmental concerns, positions it as a leader in the development and consumption of functional films that meet stringent sustainability criteria. The Asia Pacific region's leading market share in the dynamic landscape of functional films is being solidified by the convergence of economic expansion, technical progress, and sustainability measures.

The report provides insights on the following:

Analysis of drivers: (Growing demand for smart packaging solutions, Rising demand for functional films in the automotive industry), restraints (Increasing competition from emerging technologies, Limited understanding of the properties and performance of functional films), opportunities (Development of new functional films for emerging applications, Use of functional films in agriculture), and challenges (Competition from traditional packaging materials, Immature recycling infrastructure) influencing the growth of functional films market.
Market Penetration: Comprehensive information on the functional films market offered by top players in the global functional films market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the functional films market.
Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for functional films market across regions.
Market Capacity: Production capacities of companies producing functional films are provided wherever available with upcoming capacities for the functional films market.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the functional films market.

Key Topics Covered:

Executive Summary

Protective & Barrier Film to Lead Functional Films Market During Forecast Period
PE Segment to Lead Functional Films Market During Forecast Period
Packaging Segment to Lead Functional Films Market During Forecast Period
Plastic to Lead Functional Films Market During Forecast Period
Asia-Pacific Dominated Functional Films Market in 2023

Premium Insights

Attractive Opportunities for Players in Functional Films Market - Expansion of Packaging, Pharmaceutical, and Healthcare Sectors to Drive Market
Functional Films Market, by Type - Optical & Conductive Films to be Fastest-Growing Segment During Forecast Period
Functional Films Market, by Region - Asia-Pacific to be Fastest-Growing Market for Functional Films During Forecast Period
Functional Films Market, by End-Use Industry - Packaging to be Fastest-Growing Segment During Forecast Period
Functional Films Market, by Material - PET to be Fastest-Growing Segment During Forecast Period
Functional Films Market, by Substrate - Plastic to be Fastest-Growing Segment During Forecast Period

Market Dynamics

Drivers

Growing Demand for Smart Packaging Solutions
Rising Need for Functional Films in Automotive Industry
Miniaturization of Electronic Devices

Restraints

Increasing Competition from Emerging Technologies
Limited Understanding of Functional Films
Low Availability of High-Purity Raw Materials

Opportunities

Development of New Functional Films for Emerging Applications
Use of Functional Films in Modern Agriculture
Development of New Quantum Computers

Challenges

Use of Traditional Packaging Materials
Immature Recycling Infrastructure

Case Study Analysis

Hydrogel-Based Functional Films to Produce 3D Scaffolds
Functional Film Hydrogels to Achieve Site-Specific Drug Delivery

Company Profiles

Toray Industries
Eastman Chemical
Covestro
Dai Nippon Printing
3M
Honeywell International
Nitto Denko
Dupont Teijin Films
Mitsubishi Chemical
Toyob
Avery Dennison
Tatsuta Electric Wire and Cable
Gunze
Sabic
Mondi
Innovia Films
Polifilm
Clariant
Ineos
Avient
Lintec
Nagase
Toyochem
Coveris
Toppan

For more information about this report visit https://www.researchandmarkets.com/r/k2tm3i

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