Functional Films Market worth $49.6 billion by 2030 – Exclusive Report by MarketsandMarkets™


CHICAGO, Nov. 24, 2023 /PRNewswire/ — The report Functional Films Market by Type (Composite Structure Ceramics, Electrical & Electronic Functional Ceramics), Application (Defence & Security, Electronics & Semiconductor, Optics & Industrial Manufacturing), and Region- Global Forecast 2028″, size is projected to grow from USD 30.5 billion in 2023 to USD 49.6 billion by 2030, registering a CAGR of 7.2% during the forecast period. The functional films market is poised for substantial growth, propelled by diverse opportunities across industries. The escalating demand for advanced packaging solutions in the food and beverage sector, driven by the need for extended shelf life and UV protection, is a significant factor. Additionally, the automotive industry’s increasing integration of films for applications like window tinting and anti-glare coatings, coupled with the rising prominence of renewable energy sources and the sustainability trend, is creating avenues for functional films in solar panels and eco-friendly solutions. The healthcare sector, with its emphasis on innovative medical devices and drug delivery systems, further contributes to the market’s expansion.

Browse in-depth TOC on “Functional Films Market”

Packaging, by end-use, is expected to be the most significant Functional films Market segment during the forecast period.

Packaging has emerged as the fastest-growing end-use industry in the functional films market due to several key factors driving its expansion. The increasing global population, changing consumer preferences, and the rise of e-commerce have fueled the demand for innovative and efficient packaging solutions. Functional films play a pivotal role in this sector by offering properties such as barrier protection, antimicrobial features, and extended shelf life. The heightened focus on sustainability and eco-friendly packaging has also led to the adoption of functional films that provide both performance and environmental benefits. Moreover, as industries across the world prioritize safety, convenience, and preservation of product quality, functional films find widespread application in flexible packaging, creating a robust market demand.

Polyethylene terephthalate is anticipated to be the fastest-growing Functional films Market segment, by material, during the forecast period.

Polyethylene terephthalate (PET) material is experiencing rapid growth in the functional films market, emerging as the fastest-growing material, owing to its unique combination of properties that cater to evolving industry demands. PET films offer excellent transparency, mechanical strength, and chemical resistance, making them particularly well-suited for applications in packaging, electronics, and industrial sectors. The increasing emphasis on sustainability and recyclability further boosts the popularity of PET, as it is a fully recyclable material. Additionally, PET films are lightweight and exhibit outstanding barrier properties, enhancing their suitability for applications requiring protection against moisture and gases.

North America is expected to be the fastest-growing segment in the global Functional films Market, by region, during the forecast period.

North America is emerging as the fastest-growing region in the functional films market due to a confluence of factors propelling demand across diverse industries. The region’s rapid technological advancements, particularly in the electronics and healthcare sectors, drive the need for specialized functional films. Additionally, a growing emphasis on sustainable and eco-friendly solutions in packaging and construction further fuels the adoption of innovative functional films.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Functional films Market. These Toray Industries Inc. (Japan), Eastman Chemical Company (US), Covestro AG (Germany), Honeywell International (US), 3M Company (US), Nitto Denko Corporation (Japan), Dupont Teijin Films US Limited (US), Mitsubishi Chemical Corporation (Japan), Toyobo Co., Ltd (Japan), Dai Nippon Printing Co., Ltd (Japan), and others.

Browse Adjacent Market: Foam and Insulation Market Research & Consulting

Related Reports:

Polyimide Films & Tapes Market– Global Forecast to 2028

Mulch Films Market – Global Forecast to 2028

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Solverwp- WordPress Theme and Plugin