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Composite Film Market Trends

Report ID: GMI9014
Published Date: Apr 2024
Report Format: PDF

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Composite Film Market Trends

Numerous variables are driving notable trends and analysis in the composite film industry. The growing need for environmentally friendly packaging options is one noteworthy trend that is driving producers to create composite films that are more environmentally friendly, recyclable, and biodegradable. This tendency corresponds with the increasing consciousness among consumers regarding environmental matters and the legislative push to reduce packaging waste. Furthermore, new composite film formulations are being developed as a result of technical developments in material science and film manufacturing techniques. These innovations are producing high-performance films with enhanced strength, flexibility, and barrier qualities.

The growing use of flexible packaging formats in a variety of sectors, such as food and beverage, medicines, and personal care, is another significant trend. Composite films are becoming more and more popular as a preferred packaging option because to the benefits of flexible packaging, which include cost-effectiveness, lightweight, and ease.

Additionally, the need for composite films that provide strong protection against moisture, punctures, and other transit-related risks is being driven by the growth of e-commerce and the requirement for protective packaging solutions for online delivery. In general, the market for composite films is expected to rise further as long as producers prioritize sustainability, innovation, and satisfying changing customer and industry demands.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Composite film market size was USD 275 million in 2023 and is expected to register over 6.2% CAGR from 2024-2032 owing to its strength, flexibility, barrier qualities, and customizability, leading to widespread usage in packaging applications across a range of industries worldwide.

The barrier film segment recorded USD 84 million in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to their vital function in shielding materials from outside influences such moisture, light, oxygen, and pollutants.

Composite film industry from the packaging segment reached USD 35.50% share in 2023 and is expected to register a commendable CAGR from 2024-2032 due to extensive usage of composite films in a variety of packaging applications across industries.

Guangdong Chaowei Plastic Film Co., Ltd, Henkel AG, Huizhou Yangrui Printing & Packaging Co.,Ltd, Hysum, Krus company, Mondi Group, Park Aerospace Corp., and Shandong Top Leader Plastic Packing Co.,Ltd, are some of the major composite film companies worldwide.