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Specialty Films will create new revenue pockets
The worldwide expansion in packaging industry requires high barrier packaging products for a number of applications. This in turn is expected to generate new revenue pockets for specialty films. In the matured markets such as North America and Europe, the demand for specialty films is increasing at a faster rate than the other polymer films
Specialty films such as EVOH, PLA, PVDC, and Polyamide are increasingly used in a number of applications and expected to generate new revenue pockets. Better barrier properties, mechanical strength, and chemical resistance of such films are making it popular in a number of packaging applications. Moreover, biodegradable and re-usable specialty films are presently preferred over conventional resin-based films in food and pharmaceutical packaging, especially in North America and Europe. The rising environmental concerns and new stricter regulations in North America and Europe against usage of non-biodegradable petroplastics are driving the growth for specialty films.
Barrier films are slowly becoming the preferred material for a number of packaging applications such as meat and poultry products packaging. The worldwide expansion in packaging industry requires high barrier packaging products for a number of applications. This in turn is expected to generate new revenue pockets for specialty films. In the matured markets such as North America and Europe, the demand for specialty films is increasing at a faster rate than the other polymer films. In North America, water-soluble and biodegradable films are expected to grow at a rapid rate as a number of stricter environmental regulations are passed in this region against the use of conventional petrochemical-based polymers.
Medical and pharmaceutical products packaging is finding new applications for specialty films. Specifically, water-soluble films are very innovatively used in a number of healthcare and pharmaceutical packaging applications. Specialty films also found new application in the areas of detergent and electronics packaging. Ever increasing use of such films is expected to drive the revenue for the packaging film market during the next decade.
Packaging Film Market By Application (Food, Medical & Pharmaceutical, Consumer Product, Industrial & Others) & Type (LDPE, LLDPE, HDPE, CPP, BOPP, Polyester, PVC, Polyamide, EVOH, Cellulose, PLA, PVDC, PVOH & Others) - Global Trends & Forecast to 2018
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