New Product Launches are Some of the Major Strategies Adopted by the Players to Achieve Growth in the Graphic Film Market.
Graphic films have been widely used in different end use sectors such as promotional & advertisement, industrial, automotive, and others. MarketsandMarkets projects that the graphic film market size will grow from USD 24.17 Billion in 2017 to USD 31.10 Billion by 2022, at a compound annual growth rate (CAGR) of 5.17% from 2017 to 2022. Rapid urbanization, growth in key end-use industries such construction & automotive, and increase in demand for wrap advertisement will drive the market for graphic film.
The global market for graphic film is dominated by large players such as Avery Dennison Corporation (US), 3M Company (US), E. I. du Pont de Nemours and Company (US), CCL Industries, Inc. (Canada), Amcor Limited (Australia), Constantia Flexibles Group GmbH (Austria), Hexis S.A. (France), and DUNMORE Corporation (US). These players adopted various strategies to expand their global presence and increase their market share. Mergers & acquisitions, agreements & expansions, and new product launches are some of the major strategies adopted by the players to achieve growth in the graphic film market.
Mergers & acquisitions, collectively, accounted for the largest share of 89% of the total strategic developments in the global graphic film market. Companies adopted this strategy to expand their geographical reach, acquire new projects, strengthen their product & service portfolios, and cater to untapped markets. Avery Dennison Corporation (US), 3M Company (US), E. I. du Pont de Nemours and Company (US), were the major companies that adopted this strategy.
3M is one of the key players in the graphic film market. The company emphasizes on R&D activities; it invested 1.80 Billion in R&D to develop new technology and offer advanced products. It used mergers & acquisitions as its key strategy for its growth in the graphic film industry. The company, in June 2016, acquired Scott Safety from Johnson Controls (Ireland), a manufacturer of packaging products for the personal care segment. This acquisition enabled the company to expand its business horizon in the European market.
E. I. du Pont de Nemours and Company, globally referred to as DuPont, is a Fortune 500 company and a global leader in packaging materials and solutions. The company has expertise in manufacturing products & services for packaging & labeling solutions. It produces films that have a unique combination of electrical, thermal, chemical, and mechanical properties that withstand extreme temperature, vibration, and other demanding environments. The company’s polymer films are highly preferred in a range of industries including consumer electronics, solar photovoltaic & wind energy, aerospace, automotive, and industrial applications.
Related Reports:
Graphic Film Market by Polymer (PVC, PP, PE), Film Type (Opaque, Reflective, Transparent, Translucent), End Use (Promotional & Advertisement, Industrial, Automotive), Printing Technology (Digital, Rotogravure), and Region - Forecast to 2022
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