Polymer films that are either transparent or opaque are used to make specialty and high-performance films. The major raw materials utilized in the production of these films are polyesters, fluoropolymers, and polycarbonates. Packaging, automotive, electrical & electronics, and construction are the major end-use sectors for specialized and high-performance films. Because of their high chemical resistance, tensile strength, and impact resistance, these films are gaining appeal in several industries.
Due to fast growth in end-use industries, rising demand for packaged and frozen food in developed countries is expected to provide development momentum for the specialty and high-performance film market over the forecast period. Furthermore, rising demand for disposable food and beverage packaging, such as tetra pack items, is projected to propel market growth. The primary objective of the packaged food business is to improve hygiene to protect food from UV, sunlight, dust, temperature, and air. Barrier films and UV control films are two examples of products used in the food and beverage industry. It also helps to preserve the quality of food for a longer length of time and extends the life of the food.
The global Specialty and High-Performance Film market was valued at US$ 34.92 billion (revenue) and 10,999.25 kilo tonnes (volume) in 2016, and it is expected to expand at a CAGR of 6.5 percent (revenue) and 5.8 percent (volume) between 2017 and 2025.
Rising population and urbanization in emerging economies such as China, India, Brazil, and the Middle East are driving a surge in building activity. The need for modernized and contemporary commercial and residential complexes with glass facades is growing. Furthermore, reconstruction and refurbishment operations in North America and Europe are expected to help the specialized and high-performance film industries. One of the major challenges for modern glass buildings and complexes as a result of global warming is UV radiation protection. According to a study conducted by Coherent Market Insights, the growing use of UV rays and sunlight control films will drive the market.