Asia Pacific Specialty Films Market 2020-2030

Asia Pacific specialty films market will grow by 6.3% annually with a total addressable market cap of $192.6 billion over 2021-2030 owing to robust and high tensile packaging application, increasing demand for the product in various industry verticals, and the development of technologically advanced materials. Because specialty films have high strength and stiffness and operate as a protective shield, they are used in a variety of industries. The growing importance of bio-based polymers, as well as the economic growth of the BRIC countries, has been propelling the specialised film industry. Polyesters, nylons, polyolefin-based films such as Ethylene Vinyl Alcohol (EVOH) and Polyvinylidene Chloride (PVdC), polycarbonates, fluoropolymers, and polyamides are among the materials used to produce specialty films. The rising demand of eco-friendly and light weight films is acting as an opportunity for boosting the demand of the films market. Specialty film is in high demand due to growing demand for packaging solutions across a variety of industrial verticals. These innovative packaging films are quickly becoming a hot item, as their role in keeping products intact before they reach the client is critical. Increasing applications of barrier films in food and beverages product packaging, rising demand for minimally invasive surgeries, growing demand of barrier films in pharmaceutical and agriculture industry, rising demand of barrier films to safeguard electronic components are the main drivers. The need for specialised films has increased over time as a result of their expanding applications, particularly in the food and beverage industry. Manufacturers are forming strategic alliances with packaging firms that can deliver the most effective specialty films, resulting in a stable relationship in the specialty films market. Military applications, marine, safety, and security industries are other large markets for specialty films and are likely to grow in the coming years. Soon, specialty films used in photovoltaic modules are projected to be in high demand. Along with this the electrical and electronics industry's rising demand for customised and high-performance films as an insulator is likely to be a major driver of market expansion.Due to the presence of multiple manufacturers with a solid foothold in the market, the industry is projected to see intense competition. However, changing crude oil and naphtha prices, which are the industry's key raw materials, are predicted to have an impact on market growth over the forecast period. The strictness of industry regulatory authorities towards the usage of polymerized, non-degradable materials is a major barrier in the manufacturing of specialised films. Environmental issues have grown as the number of specialty films abandoned openly has increased. Furthermore, the single-use nature of these films limits the extent of specialised film recycling and reuse.

China is the major economy in the Asia Pacific in terms of GDP. Over the projected period, China is expected to grow at a robust CAGR creating leading demand for the specialty films. The food processing sector in the country is maturing and experiencing moderate expansion. Packaged and processed frozen foods, particularly dairy, baby food, and confectionary items, are becoming increasingly popular, which will be a driving force for the food processing business and in turn the films market. Healthy, natural, and easy ready-to-drink smoothies, juices, and yoghurts are becoming popular in the beverage sector. pharmaceutical market. Because of the region’s growing middle class and ageing society, rising affluence, and increasing urbanisation, the pharmaceutical business is fast developing. This is predicted to have a positive impact on the expansion of pharmaceutical packaging. Asia pacific is home to some of the world's largest producer of electronic goods, Smartphones, televisions, wires, cables, portable computer equipment, gaming devices, and other personal electronic gadgets  which grew at a fast rate in the electronics market. These devices use specialty films for insulation purposes which creates a demand in the market. Majority of businesses are expected to increase the production of specialty films with improved chemical resistance. With the growing presence of food and beverage industries in APAC, several prominent players in the global specialty films market are projected to expand their manufacturing capacities by establishing manufacturing plants in China, South Korea, and India. 

Impact of COVID-19
For all of the industries and their accompanying production and manufacturing units, the COVID-19 pandemic was a new and strange experience. Governments around the world implemented a lockdown, forcing people to stay at home and halting the delivery of orders ordered by the target demographic. As a result, during the early stages of the pandemic, the market for specialty films shrank as well.
However, as restrictions are eased and vaccines have become available worldwide, market delivery is back to resume. Over the forecast period, this will have a beneficial impact on market operations.

Highlighted with 28 tables and 45 figures, this 107-page report “Asia Pacific Specialty Films Market 2020-2030 by Resin (Polyester, Nylon, Polyolefin, Fluoropolymer), Function (Barrier, Safety, Conduction), Industry Vertical, and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Asia Pacific specialty films market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. 

In-depth qualitative analyses include identification and investigation of the following aspects:
   • Market Structure 
   • Growth Drivers 
   • Restraints and Challenges
   • Emerging Product Trends & Market Opportunities
   • Porter’s Fiver Forces

The trend and outlook of Asia Pacific market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify Asia Pacific specialty films market in every aspect of the classification from perspectives of Resin, Function, Industry Vertical, and Country. 

By Resin
     • Polyester
     • Nylon
     • Polyolefin
     • Fluoropolymer
     • Polyacrylamide
     • Polyimide
     • Other Resins

By Function 
     • Barrier
     • Safety and Security
     • Conduction and Insulation
     • Microporous Function
     • Decorative Function
     • Other Functions

By Industry Vertical
     • Packaging
     • Transportation
     • Construction
     • Personal Care
     • Electrical and Electronics
     • Medical Industry
     • Other Industry Verticals

By Geography
     • Japan
     • China
     • South Korea
     • Australia
     • India
     • Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

For each key country, detailed analysis and data for annual revenue are available for 2019-2030. The breakdown of key national markets by Resin, Function, and Industry Vertical over the forecast years is also included.
Specifically, potential risks associated with investing in Asia Pacific specialty films market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players

Key Players (this may not be a complete list and extra companies can be added upon request): 
3M, Akzo Nobel NV, Avery Dennison, Bemis Co., Inc., Covestro AG, DuPont Teijin Films, Evonik Industries AG, Honeywell International Inc., Inteplast Group, KANEKA Corporation, Kuraray America Inc., SABIC, SKC, The Chemours Company, Toray Industries Inc., UBE Industries Ltd.,  

(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)