Asia-Pacific Region Dominates High-Performance Films Market

December 31, 2018

WELLESLEY, Mass., Dec. 31, 2018 – The Asia-Pacific market for high-performance films has proven both the fastest and largest of its kind. Key factors driving market growth in this region include low-cost labor, wide availability of raw materials, low energy cost, relaxed regulations, an abundance of cheap land and low-cost transportation options, according to BCC Research.

The Asia-Pacific market for high-performance films was valued at $20.6 billion in 2018 and is expected to reach $29.1 billion by 2023 at a compound annual growth rate (CAGR) of 7.1%, according to the report “High-Performance Films: Asia-Pacific Markets.”

Key players in the market include: 3M (MMM), Arkema SA (ARKAY), BASF SE (BFFAF), Chi Mei Corp., China National Petroleum Corp., Covestro AG (CVVTF), Daicel Corp., DowDuPont (DWDP), Eastman Chemical Corp. (EMN), Evonik Industries AG (EVKIF), Formosa Plastics Group and many others.

Research Highlights:

• Increasing demand from the end use industries, especially in countries like China and India, is increasing the demand of high-performance films in the Asia-Pacific market.
• The replacement of traditional compounds with high-performance films is a crucial factor that has worked to expand the high-performance films market in the Asia-Pacific region.
• Key market players are increasing investments and developing new technologies and products in order to maximize profit as the demand for high-performance films is rising.

“The demand for polyester films in the Asia-Pacific is expected to increase as a result of increased demand for convenience packaging,” the report notes. “Polyester films with high optical clarity and durability are widely used, which also drives growth in the Asia-Pacific polyester films market. The same trend is expected to continue during the forecast period.”

High Cost and Limited Market Penetration Are Top Market Constraints

Issues that may hinder growth of the high-performance films market are high costs and limited market penetration in the Asia-Pacific region. Factors such as lack of product innovation and industrial growth in the automotive and semiconductor/electronics industry, weak purchasing power and complex government policies create obstacles are also limiting market growth. High-performance films are also more expensive than the standard films at large.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

High-Performance Films: Asia-Pacific Markets( PLS101A )
Publish Date: Dec 2018    

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.