UV Stabilized Films Market Is Expected to Grow at a CAGR of 5% by the End of 2029
UV stabilized films, which offer superior barrier performance against sunlight and other external contamination, are in demand for packaging solutions that help processed food products extend their shelf life and preserve overall food quality.
Valley Cottage, NY -- (SBWire) -- 07/11/2019 --Future Market Insights delivers key insights on the UV stabilized films market, in its recently published report titled, 'UV Stabilized Films Market: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2029'. In terms of revenue, the global UV stabilized films market is projected to expand at a value CAGR of over 5% during the forecast period, owing to numerous factors, regarding which, FMI offers thorough insights and forecasts in this report.
The global UV stabilized films market has been segmented on the basis of product type, material type, thickness, technology, application, and end-use industry. The global UV stabilized films market is anticipated to expand 1.7x in terms of market value by the end of 2029.
Non-packaging Applications Account for Multiple Revenue Generation Channels
A UV stabilized film is a multi-layer film that absorbs, scatters, or reflects ultraviolet radiations and protects products from visible light degradation. UV stabilized films are used for packaging and non-packaging end-use industries in a variety of applications such as printing, lamination, industrial, and packaging applications. Manufacturers operating in the UV stabilized films market offer these films in thickness ranges such as up to 20 microns, 20 to 40 micron, 40 to 50 micron, and 50 microns & above. Technologies used for UV stabilized film manufacturing are adhesion lamination and co-extrusion coating. UV stabilized films are gaining traction in flexible packaging applications for preserving freshness, color, and enhancing the aesthetic appearance of packaged products. Along with this, UV stabilized films increase the shelf-life of the products.
Market Attractiveness of South & East Asia Remains Intact
As indicated by the regional analysis of market, East Asia is expected to account for nearly one-third of the total market value share in the global UV stabilized films market by the end of 2029 and is anticipated to expand at a value CAGR of over 7% during the forecast period. India is one of the leading contributors of UV stabilized films in the East Asian UV stabilized films market, which was valued more than US$ 700 Mn in 2018. Key players in the South Asian market such as Uflex Ltd., Jindal Poly Films, and others are expanding their production to cater to the increasing demand for UV stabilized films in the global market. The South Asian market is anticipated to expand at a substantial growth rate during the forecast period.
The total incremental opportunity represented by East Asia is relatively high as compared to other regions in the global UV stabilized market. The burgeoning demand for UV stabilized films from the building & construction industry is expected to further boost the sales of UV stabilized films in the region. After the East Asian region, Europe is another attractive market for UV stabilized films. This is attributed to the presence of well-established players in the region, which suffice the rising demand for UV stabilized films. The European market is expected to expand 1.4x of its current value by the end of the forecast period.
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China is anticipated to expand at a value CAGR of over 8% during the period 2019-2029. Thailand and Indonesia are expected to represent cumulative incremental opportunity of approximately US$ 0.35 Bn by the end of 2023. The South Asian UV stabilized films market by non-packaging end-use industry is estimated to be valued nearly US$ 1.3 Bn by the end of 2019, and is projected to expand at a CAGR of above 7% during the forecast period.
Company profiles of key market participants that have been profiled in the report on the UV stabilized films market include Uflex Ltd., Mitsubishi Polyester Film, Inc., Toray Plastics (America). Inc., DuPont Teijin Films U.S. Limited, Polyplex Corporation Ltd., Terphane LLC, Toyobo Co., Ltd., Ester Industries Ltd., RKW SE, Sigma Stretch Film Corp., Coveme Spa, Kolon Industries, Inc., Elif Plastik Amb.San.Tic.A.?, Group Michiels Advanced Materials, Walco Corporation, Vampire Optical Coatings, Inc., Custom Extrusion Technologies, Inc., Arid Agritec Ltd, FVG Folien-Vertriebs GmbH, and Kangde Xin Composite Material Group Co., Ltd. (KDX).
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