Polyester Film Market by Type (Biaxially oriented, thermal film, metalized film, holographic film, UV stabilized, matte film, barrier film), Application (packaging, electrical insulation, imaging), End Use Industry, and Region - Global forecast to 2028
The Polyester Film Market is projected to reach USD 44.2 Billion by 2028, at a CAGR of 6.2% from USD 32.7 Billion in 2023. The market is mainly led by the significant usage of polyester film in various end-use industries. The growing demand from the food & beverage, pharmaceuticals, textile, and electronics rising demand for industrial sector, is driving the polyester film market for market.
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Market Dynamics
Driver: Increasing demand for durable materials in the electronics industry for technological advancements.
The electronics industry's reliance on polyester films has been significantly fueled by ongoing technological advancements. These films play a crucial role in providing electrical insulation for electronic components and flexible printed circuits, facilitating the creation of smaller, lighter, and more durable electronic devices. With the rapid miniaturization of electronic components and the ever-increasing demand for portable and high-performance gadgets, polyester films have become an indispensable part of the industry's drive toward innovation. Their electrical insulating properties not only ensure the reliability and safety of electronic devices but also contribute to their longevity, meeting the market's demands for high-quality, long-lasting electronics. As a result, polyester films are at the forefront of enabling the electronics industry to meet the evolving needs of consumers for more compact and resilient technological products.
Restraint: the presence of competitive materials in the market is restraining the market for polyester films globally
Polyester films, while versatile and widely used, contend with formidable competition from various alternative materials, including polypropylene, polyethylene, and paper-based packaging options. In specific applications and market segments, these competing materials can limit the market share and growth potential of polyester films. Polypropylene, for instance, is known for its cost-effectiveness and durability, making it a preferred choice in certain flexible packaging applications. Polyethylene, with its diverse range of forms such as low-density and high-density polyethylene, competes directly with polyester films in sectors like food packaging, where both materials offer moisture resistance. Additionally, paper-based packaging solutions are gaining prominence as eco-friendly alternatives, appealing to environmentally conscious consumers and industries. As sustainability and cost-efficiency continue to influence material choices, polyester films must contend with these alternatives, adapting and innovating to maintain their market position. It is in this dynamic landscape that polyester films encounter challenges and strive to identify niche markets and applications where their unique properties, such as exceptional barrier capabilities and versatility, can maintain a competitive edge.
Opportunity: Utilization of sustainable packaging materials
The polyester film market presents numerous opportunities for growth and innovation. One of the primary opportunities lies in the ever-expanding demand for sustainable packaging solutions. As global environmental concerns mount, polyester films, known for their recyclability, lightweight nature, and durability, are poised to meet the evolving requirements of eco-conscious consumers and industries. This shift towards sustainability not only positions polyester films as a more environmentally responsible choice but also opens doors to collaboration and research for even more sustainable alternatives, like biodegradable polyester films. Moreover, technological advancements offer a significant growth avenue for the polyester film market. As industries continually seek ways to improve product performance and efficiency, polyester films can be tailored to meet the stringent requirements of these advancements. In particular, the electronics sector, which relies on polyester films for insulation, flexible printed circuits, and electronic components, benefits from ongoing technological innovations that demand ever-thinner, lighter, and more robust materials. Polyester films are thus well-positioned to continue playing a pivotal role in advancing electronics and other high-tech applications.
Challenge: Continous development in regulatory landscape and regulatory standards for packaging material.
Evolving regulatory standards and compliance requirements represent another hurdle for the polyester film industry. Regulations related to packaging materials, such as restrictions on certain additives or environmental labeling, may necessitate adjustments in manufacturing processes and potentially lead to increased costs. Furthermore, economic uncertainties or downturns can have a direct impact on the polyester film market. Reduced consumer spending and industrial activities during economic crises can lead to decreased demand for packaging and industrial applications, affecting the overall growth prospects of the market. The constant need to innovate and adapt to changing consumer preferences and industry demands is also a challenge. As the market increasingly focuses on sustainability, manufacturers need to invest in research and development to create more environmentally friendly polyester film alternatives or enhance existing products. Moreover, polyester film producers need to identify niche markets and applications where their specific properties, such as exceptional barrier capabilities and versatility, can continue to shine.
Market Ecosystem
The market ecosystem for polyester film is composed of a diverse array of entities and stakeholders that collectively contribute to the development, implementation, and advancement of polyester film materials. At the core of this ecosystem are material providers who focus on research, development, and manufacturing of polyester film. They continuously innovate and produce novel materials and their applications to meet the evolving demands of the market.
DuPont Teijin Films (US), TORAY INDUSTRIES, INC. (Japan), Mitsubishi Polyester Film GmbH (Germany), Kolon Industries, Inc. (South Korea), ESTER INDUSTRIES LIMITED (India), Jindal Films Limited (India), Terphane LLC (US), TOYOBO CO. LTD.,(Japan), Polyplex Corporation Limited (India).
Polyester Film: Ecosystem
Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis
"Below 50 microns is the largest sub-segments amongst the thickness segment in the polyester film market in 2023, in terms of value."
Polyester films with thicknesses below 50 microns dominate the market for a multitude of compelling reasons. These films find extensive use in flexible packaging, where their unique blend of strength and flexibility proves invaluable for packaging a diverse array of products, including food, beverages, and personal care items. Notably, their cost-effectiveness, when compared to thicker alternatives, makes them a preferred choice for manufacturers and converters, especially in high-volume packaging operations. Their lightweight nature not only simplifies packaging but also contributes to reduced transportation costs and a smaller environmental footprint, aligning with sustainability goals.
“Packaging accounted for the largest application share of the polyester film market in 2023” in terms of value.
Packaging stands as the largest application for polyester film due to its remarkable versatility and adaptability to a wide spectrum of packaging requirements. Polyester film can be customized to meet specific needs, available in various thicknesses, finishes, and with diverse barrier properties. This adaptability ensures that it can effectively package an extensive range of products, from food and beverages to electronics and consumer goods. Furthermore, polyester film's recyclability aligns with the growing demand for sustainable packaging options, making it an environmentally responsible choice. Its cost-effectiveness, lightweight nature, and reduced environmental impact in transportation further underscore its prominence in the packaging industry. Altogether, these qualities position polyester film as the top choice for packaging, catering to the diverse needs of a dynamic and evolving consumer market.
"Asia pacific is the largest market for polyester film Market in 2023, in terms of value."
Asia Pacific's status as the largest market for polyester film can be attributed to a convergence of crucial factors. Foremost, the region has witnessed rapid economic growth, fostering increased consumerism, rising disposable incomes, and the expansion of a burgeoning middle class. As a result, the demand for products necessitating polyester film for packaging, labeling, and other applications has surged. In parallel, ongoing infrastructure development and urbanization across the region necessitate construction materials and automotive components, both of which extensively incorporate polyester films. Additionally, the cost-effectiveness of manufacturing in Asia Pacific has established it as a hub for efficient polyester film production, further cementing its status as the preeminent market for this versatile material. Collectively, these factors underscore Asia Pacific's leadership in the global polyester film industry.
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Key Market Players
The key players in this DuPont Teijin Films (US), TORAY INDUSTRIES, INC. (Japan), Mitsubishi Polyester Film GmbH (Germany), Kolon Industries, Inc. (South Korea), ESTER INDUSTRIES LIMITED (India), Jindal Films Limited (India), Terphane LLC (US), TOYOBO CO. LTD.,(Japan), Polyplex Corporation Limited (India). Continuous developments in the market—including new product launches, mergers & acquisitions, agreements, and expansions—are expected to help the market grow. Leading manufacturers of polyester film have opted for new product launches to sustain their market position.
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- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
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Report Metric |
Details |
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Years considered for the study |
2023-2028 |
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Base Year |
2022 |
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Forecast period |
2023–2028 |
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Units considered |
Value (USD Billion/Million) |
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Segments |
type, application, end use industry and Region |
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Regions |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
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Companies |
DuPont Teijin Films (US), TORAY INDUSTRIES, INC. (Japan), Mitsubishi Polyester Film GmbH (Germany), Kolon Industries, Inc. (South Korea), ESTER INDUSTRIES LIMITED (India), Jindal Films Limited (India), Terphane LLC (US), TOYOBO CO. LTD.,(Japan), Polyplex Corporation Limited (India). |
Segmentation
This report categorizes the global Polyester Film market based on IR Range, Material type, functions, end use industry and region.
On the basis of type the market has been segmented as follows:
- Biaxially oriented
- Thermal film
- Metallized film
- Holographic film
- UV stabilized
- Matte film
- Barrier film
- Others
On the basis of application, the market has been segmented as follows:
- Packaging
- Electrical insulation
- Imaging
- Industrial laminates
- Others
On the basis of end use industry, the market has been segmented as follows:
- Food & beverage Packaging
- Electronics
- Construction
- Pharmaceuticals
- Textiles
- Medical
- Mobility transportation
- Others
On the basis of region, the market has been segmented as follows:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Recent Developments
- Ester Industries Limited acquired the engineering plastics business of RadiciGroup of Italy in a deal worth €35 million ($37 million) in 2023. The acquisition was made through Ester Industries' subsidiary, Ester Engineering Plastics Limited. The acquisition of RadiciGroup's engineering plastics business gives Ester Industries a strong foothold in the Indian engineering plastics market.
- Also in 2021, DuPont Teijin Films announced the expansion of its manufacturing plant in Florence, Kentucky, to increase production of its Mylar® polyester film. The expansion is expected to be completed in 2023 and will create 50 new jobs.
- Ester Industries Limited, a leading manufacturer of polyester films in India, and Covestro AG, a leading global supplier of polymer materials, have partnered to develop and commercialize sustainable polyester films. The partnership will focus on developing polyester films that are made from recycled materials or renewable resources, and that have a lower environmental impact than traditional polyester films. The two companies will also work together to develop new applications for sustainable polyester films.
Frequently Asked Questions (FAQ):
What is the expected growth rate of the polyester film market?
This study's forecast period for the polyester film market is 2023-2028. The market is expected to grow at a CAGR of 6.2% in terms of value, during the forecast period.
Who are the major key players in the polyester film market?
DuPont Teijin Films (US), TORAY INDUSTRIES, INC. (Japan), Mitsubishi Polyester Film GmbH (Germany), Kolon Industries, Inc. (South Korea), ESTER INDUSTRIES LIMITED (India), Jindal Films Limited (India), Terphane LLC (US), TOYOBO CO. LTD.,(Japan), Polyplex Corporation Limited (India) 0are the leading manufacturers and service provider of polyester film market.
What are the emerging trends in the Polyester film market?
Increasing environmental concerns have driven the demand for greener and more sustainable solutions across industries. In the polyester film market, there has been a growing interest in eco-friendly materials that minimize the environmental impact of polyester film.
What are the drivers and opportunities for the polyester film market?
The Increasing demand for advanced technologies in the polyester film drives the polyester film market. The growing packaging sector presents significant opportunities for the utilization and advancement of polyester film.
What are the restraining factors in the polyester film market?
The introduction of competitive products serves as a restraints to the widespread adoption and implementation of polyester film. .
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The study involved four major activities in estimating the market size of the Polyester Film market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information for this study. These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, trade directories, articles from recognized authors, the gold standard and silver standard websites, and databases.
Secondary research has been used to obtain key information about the value chain of the industry, the monetary chain of the market, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.
Primary Research
The Polyester Film market comprises several stakeholders in the value chain, which include input suppliers, equipment manufacturers, technology providers, service providers, distribution and logistics, and end users. Various primary sources from the supply and demand sides of the Polyester Film market have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders in end-use sectors. The primary sources from the supply side include manufacturers, associations, and institutions involved in the Polyurethane catalyst industry.
Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, type, application, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of Polyurethane Catalystand the outlook of their business, which will affect the overall market.
The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2021, available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
To know about the assumptions considered for the study, download the pdf brochure
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Company Name |
Designation |
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DuPont Teijin Films |
Individual Industry Expert |
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Mitsubishi Polyester Film GmbH |
Sales Manager |
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Kolon Industries, Inc. |
Manager |
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TOYOBO CO. LTD., |
Marketing Manager |
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Terphane LLC |
Senior Scientist |
Market Size Estimation
The top-down and bottom-up approaches have been used to estimate and validate the size of the Polyester Film market.
- The key players in the industry have been identified through extensive secondary research.
- The industry's supply chain has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of the key market players, along with extensive interviews for opinions with leaders such as directors and marketing executives.
Polyester Film Market: Bottum-Up Approach
Note: All the shares are based on the global market size.
Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis
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Polyester Film Market: Top-Down Approach
Data Triangulation
After arriving at the total market size from the estimation process explained above, the overall market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated by using both the top-down and bottom-up approaches and primary interviews. Hence, for every data segment, there have been three sources—top-down approach, bottom-up approach, and expert interviews. The data was assumed correct when the values arrived from the three sources matched.
Market Definition
The market for polyester film on a global scale encompasses the production, distribution, and consumption of thin, flexible sheets made from polyethylene terephthalate (PET) or other similar polyester materials. These films find extensive application across various industries, including packaging, electrical insulation, graphics, labeling, and industrial uses. The global polyester film market involves manufacturers, suppliers, and consumers engaging in the trade and use of polyester films, where these films serve as versatile solutions due to their exceptional properties, such as high tensile strength, dimensional stability, transparency, and barrier capabilities. The market's dynamics are influenced by factors like technological advancements, environmental considerations, and the demand for sustainable packaging solutions, all of which contribute to the continual evolution and growth of the global polyester film market.
Key Stakeholders
- Raw material suppliers.
- Polyester Film manufacturers.
- Polyester Film traders, distributors, and suppliers.
- End-use industry participants.
- Government and research organizations.
- Associations and industrial bodies.
- Research and consulting firms.
- Research & development (R&D) institutions.
- Environmental support agencies.
Report Objectives
- To define, describe, and forecast the size of the Polyester Film market, in terms of value.
- To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
- To estimate and forecast the market size based on technology, type, application and region.
- To forecast the size of the market with respect to major regions, namely, Europe, North America, Asia Pacific, Middle East & Africa, and South America, along with their key countries.
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market.
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of market leaders.
- To track and analyze recent developments such as expansions, new product launches, partnerships & agreements, and acquisitions in the market.
- To strategically profile key market players and comprehensively analyze their core competencies.
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application
Company Information
- Detailed analysis and profiles of additional market players
Growth opportunities and latent adjacency in Polyester Film Market