The Global PU Films Market size was around USD 510 Million by revenue, at the end of 2022. It is anticipated to grow at an 11.06 % CAGR to reach close to USD 735.3 Million by 2028.
Market Drivers:
PU films provide great tensile strength and low-temperature flexibility making them perfect for a range of implementations. This is a major factor fuelling the expansion of the worldwide PU films industry. Also, they are highly price-efficient and easy to proceed with, resulting in a high call from the textile and leisure industry. This could also contribute to an upswing of the industry. Recent technological advancements have resulted in the advancement of high-performance films which assist in decreasing the overall weight of vehicles. On the flip side, there is a high call for PU films from the automobile segment, hence expediting its expansion. Moreover, PU films find several uses in the construction industry due to their excellent tensile strength. Along with this, they provide microbial repellence resulting in a high call from the diagnostics segment. PU films are highly employed for patient care, surgical uses, and laboratories. This has affected the global PU films industry favourably, hence boosting its expansion.
The increasing call for high-end luxury cars and premium passenger cars is directly impacting the call for the PU films industry and is escalating its industrial expansion. With the high disposable income of the globe, buying power is at a full-time peak, and hence, the call for textile & leisure goods is also a reason for the global PU films market expansion. Escalating employment of PU films in different businesses, like automotive & aerospace, textile & leisure, and medical are the key factors predicted to drive the expansion of the worldwide PU films industry. In addition to that, escalating disposable income and buying power of individuals, and increasing calls for textile & leisure goods are the other factors predicted to drive the expansion of the worldwide PU films industry in the foreseen period. Moreover, increasing calls for luxury cars and premium passenger cars in middle-class families are some of the other factors predicted to drive profit expansion of the global PU films market.
Market Restraints:
The high price of PU films is making the small-scale makers turn to PU blend films that are less expensive when compared to their counterparts, this strategy is hindering the industry expansion of the PU films industry. These films are more expensive than other alternative films present in the industries. Several local and small-scale makers produce PU blend films that are less expensive than traditional films. Customers from the APAC industry are inclined toward the employment of low-cost films. This is restraining the expansion of the PU films industry in the APAC region.
Market Opportunities:
PU films are a perfect alternative for metal components in aircraft that have further shown lucrative expansion opportunities for the global PU films industry.
Market Challenges:
Call for PU films in the APAC region is decreasing owing to their inclination towards adopting low-cost alternatives for their goods, which is mainly hindering the success of the PU films industry in the locale.
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2022-2028 |
|
Base Year |
2022 |
|
Forecast Period |
2023-2028 |
|
CAGR |
11.06% |
|
Segments Covered |
By Type, Function, End-Use, Region. |
|
Various Analyses Covered |
Global, Regional and country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa. |
|
Market Leaders Profiled |
BASF SE, Covestro, AMERICAN POLY FILM, Huntsman International LLC, SWM International, PAR Group, Permali Gloucester Ltd., and Others. |
Polyester PU films are calculated to be the fastest-growing segment of the PU film types during the forecast period. This is mainly due to its cheaper cost when compared to polyether PU films, and the rising demand in the textile & leisure industry.
Thermoplastic-based PU films are expected to lead the global market for PU films in the aforementioned forecast period, due to reasons like ease of processability and wide applicability. This segment will register the highest growth rate in the future.
Among the mentioned end-use industries the textile & leisure industry had the largest percentage of PU film market share in 2020 and is anticipated to lead the global PU films market in the mentioned forecast period. Also, the textile & leisure industry is expected to register the highest growth rate among the other end-use industries.
The Asia Pacific had the largest percentage of market share PU Films market as of 2020. It is expected to be the fastest-growing region in the global market for PU Films from 2020 to 2025, due to the increasing demand for growing textile & leisure industries and the scope of future opportunities, mainly in developing countries like Japan, China, and India. The regional advantage in this region is the main reason for its unprecedented growth.
Europe and North America follow the lead of Asia Pacific in the global PU film market in terms of market value and volume. Although there is a wide consumer base in these regions the geographical advantages mentioned above attract the major producers towards the Asia Pacific region making Europe and North America slow-growth regional markets. The Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the PU Films Market in these regions is slow-growing in nature.
Market Key Players:
Market Recent Developments
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region