Polyester Films Market Size – $5.22 billion in 2018, Market Growth – CAGR of 7.3%, Market Trends – Increasing use in packaging applications
NEW YORK CITY, NY, UNITED STATES, February 5, 2022 /EINPresswire.com/ — The globe Polyester film market is expected to reach $9.92 billion by 2027, according to a new report from Reports and Data. The growth of the market is attributed to the increasing application of polyester film in the end-use industries.
Polyester films are widely used as a lamination substrate because they offer exceptional durability, oxygen barrier and heat resistance. When laminated to other specific materials, it also offers robust UV protection and a water barrier. Compared to other conventional materials, polyester films are considered safe for food packaging. It is less prone to contamination and theft, which extends the shelf life of food products. Polyester films add aesthetic appeal to the food and are beneficial for branding purposes. In addition, polyester films can be recycled and reused.
The application of polyester films in the electrical and electronics industry is expected to boost market demand in the coming years. Polyester films are widely used to mask, seal, and insulate delicate, pressure-sensitive underwater cables, microelectronic components, and printed circuit boards (PCBs). It is also used to meet a variety of thermal, physical and electrical properties. They shield electronic products by offering exceptional adhesion and dielectric properties, as well as excellent water, solvent and temperature resistance.
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Mitsubishi Polyester Films Inc., Polyplex Corporation, Toyobo Co. Ltd., Kolon Industries, HuanYuan Plastic Film Co. Ltd., Ester Industries Ltd., Sumilon Polyester Ltd., Toray Plastics, Cosmo Films Ltd., among others. and Impak Films USA Others.
Other key findings from the report suggest
By product type, packaging applications contributed the largest market share in 2018 and is expected to grow by 7.2% over the forecast period. The polyester films are used, among other things, for the production of food containers and beverage bottles. Polyester is the most commonly used plastic material for thermoforming packaging designs due to its high-strength barrier that offers better resistance to outside tampering or other elements.
By industry, the pharmaceutical industry is forecast to grow the fastest at 8.1% over the forecast period. Polyester is a paracrystalline material that offers excellent barrier, printability, clarity and toughness properties. Film formation and orientation of polyester complemented to produce thin profile webs with exceptional properties for use in flexible packaging.
The market in the North America region held the second largest market share in 2018 and is expected to grow by 6.7% over the forecast period. The market dominance of this region can be attributed to changing consumer preferences and increasing demand from the end-user industry.
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The energy sector or energy industry includes actors involved in the production and exploration of oil or gas reserves, oil and gas wells and refineries. The energy industry also includes integrated energy utilities such as renewable energy and coal. Companies in the energy industry are classified according to how the energy is sourced, such as: B. non-renewable or fossil fuels and renewable energies such as solar.
The energy sector is a key driver of industrial growth and fuels the rest of the economy. Demand for energy will increase sharply in the coming years, driven by economic growth, urbanization, rising incomes and industrial activity. The increasing emphasis by governments around the world on renewable energy, including both on-grid and off-grid systems, is expected to spur market growth over the forecast period.
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Polyester Film Market Segmentation:
Product type Outlook:
15-30 micron polyester films
30-60 micron polyester films
> 60 micron polyester films
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Regions covered by the report:
North America (USA, Canada, Mexico)
Europe (UK, Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
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