The Global Specialty and High Performance Films Market was valued at US$ 34.92 billion in 2016, according to a new report published by Coherent Market Insights. Rising urbanization, increases mall culture in cities owing the packaging and frozen food market demand. Increasing choice for high tensile and high chemical resistance packaging features is estimated to boost the market.
Growing construction activities, increases modern buildings and complex with glass exterior. The specialty and high performance films are used in doors and windows panels of houses for safety purposes in modern glass buildings. Moreover, protection from UV rays, temperature control and light control characteristics, the specialty and high performance films is anticipated to boost the market growth.
Crude oil and natural gas are primary raw materials used to produce polycarbonate, nylon, polyester and fluoropolymer. Volatility of crude oil price can hinder downstream industries, which have indirect impact on specialty and high performance films market.
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The global high performance films market is segmented into various end-use industries, which includes packaging, automobile, construction, electrical & electronics, and personal care products. Several factors such as low oxygen ready case technology, vacuum packaging, and oxygen scavenging increased the use of high performance films in packaging industry, which in turn is expected to boost the market growth. Moreover, wide variety of applications of these films in pharmaceutical packaging is expected to fuel the market growth.
Increasing number of applications of barrier films in solar photovoltaic cell and semiconductors due to moisture resisting and oxidation properties further augment market growth. Moreover, the microporous segments is expected to witness a CAGR of 7.9% in terms of valueduring the forecast period. Special characteristics of microporous include breathability while repelling water.
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