Sarasota, FL -- (SBWIRE) -- 09/17/2018 -- According to the report, global high-performance film market was valued at USD 33.54 billion in 2017 and is expected to reach USD 57.48 billion in 2024, growing at a CAGR of 8% between 2018 and 2024.

The high-performance film has significant characteristics such as high wear resistance and abrasion, exhibits high chemical and thermal stability, and excellent mechanical properties for a wide range of temperature. The high-performance film has better electrical performance and is also resistant to combustion.

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The market is driven by various factors such as expanding construction and flexible packaging industries and increased demand for the bioplastic materials is estimated to drive the high-performance film market over the forecast period. However, factors such as high technical level competency and high capital cost requirement affecting the prices of products are anticipated to impede the growth of the market in the coming years. Nevertheless, commercialization and development of water-soluble and bio-degradable film are likely to open new opportunities for the market of the high-performance film in the years to come.

The high-performance film market is categorized into the material, type, application, and region On the basis of the key type, high-performance film market is bifurcated into microporous films, safety and security films, barrier films, decorative films, and others. Barrier films segment held the largest market share in 2017. Barrier films segment accounted for more than 50% market share in 2017 and it is expected to retain its dominance in the near future. Owing to the rapid use of high-performance films in the vacuum packaging, low-oxygen, case-ready technologies, and meat packaging the demand for the market is expected to increase during the projected years. In terms of key material, the high-performance film market is segmented into polyamide, polyolefin, polyester, EVA, polycarbonate, fluoropolymers, and others. Polyester segment dominated the market in 2017 and is expected to grow at a 6% CAGR over the end of projected years owing to its rapid use in the electronics and food packaging sectors.

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Asia Pacific region accounted for more than 40% share of high-performance film market in 2017 and it is forecasted to be the dominating region in near future. The growing food processing and packaging industry in the emerging regions such as China and India is expected to increase the demand for high-performance film market over the forecast period. North America and Europe are projected to exhibit a significant growth rate in near future. The Middle East and Africa and Latin America are expected to witness moderate growth rate in the near future, owing to the relatively less developed regions and low investment in the various types of industries.

The key manufacturers in the global high-performance film market are Covestro, Dow Chemical Company, 3M Company, E.I. DuPont de Nemours and Company, Honeywell International Inc., Solvay S.A., Eastman Chemical Company, Evonik, Bemis Company Inc., and Bayer AG.

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