DUBLIN--(BUSINESS WIRE )--The "Metallized Film Market - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The metallized film market is projected to grow from USD 2.4 billion in 2020 to USD 3.3 billion by 2026, at a CAGR of 5.3% between 2021 and 2026.
Rising consumer demand for processed and packaged food items and shifting preference for aesthetically appealing products are fueling the demand for flexible packaging, which, in turn, is driving the market for metallized films. The use of metallized films has certain drawbacks regarding product inspection, especially in food packaging.
Metal detectors struggle to meet the specifications required by retailers/consumers when inspecting products in metallized film-coated pouches. This drawback limits the use of metallized films in food packaging applications.
PET to be the fastest end-use industry segment of metallized film market
The market for the PET segment is projected to witness a CAGR of 4.7%, in terms of volume, during the forecast period. The market for this segment is driven by its low cost and wide usage in various applications. Polyethylene Terephthalate (PET) has excellent dimensional stability, high tensile strength, low moisture absorption, good chemical resistance, excellent electrical properties, and good barrier properties.
This film can be metallized, which improves its gas barrier properties. PET is completely recyclable and is, hence, in high demand in various end-use industries. Metallized PET films are ideal for applications that require the preservation of flavor and freshness. These films are suitable for various applications in the packaging industry as well as in the industrial sector.
The PET-based metallized films segment is expected to register the highest growth in the APAC region. This high growth is attributed to the high demand from the packaging and electronics industries
Rising demand from APAC is a major driver for the metallized film market
APAC is estimated to account for the second-largest share of the metallized film market in 2018, in terms of both volume and value.
The market in this region is also projected to register the highest CAGR between 2018 and 2023, in terms of value. The APAC metallized film market is growing due to the rapid expansion of end-use industries such as food & beverages, healthcare, and cosmetics & toiletries.
Factors such as rising disposable income, changing lifestyles, and growing middle-class population are expected to drive the demand for packaging, which in turn, will support the growth of the metallized film market in the region.
The metallized film market in the decorative industry accounted for the second largest share of 3.3%, in terms of volume, in 2020 to reach a market size of 42 kilotons by 2026.
The global decorative industry witnessed a significant growth, owing to the expanded customer base and increasing application in innovative products. The growing e-commerce is one of the major factors which is expected to drive the demand for decorative packaging. This, in turn, is driving the demand for metallized films in the decorative industry.
Extensive primary interviews have been conducted and information has been gathered from secondary research to determine and verify the market size of several segments and subsegments.
Key companies profiled in this report include Cosmo Films Ltd. (India), Jindal Poly Films Ltd. (India), Polinas (Turkey), and Toray Industries Inc. (Japan).
Macroeconomic Overview and Key Trends
Operational Data and Key Industry Trends
For more information about this report visit https://www.researchandmarkets.com/r/le3s4y
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900