December 31, 2018
WELLESLEY, Mass., Dec. 31, 2018 – The Asia-Pacific market for high-performance films has proven both the fastest and largest of its kind. Key factors driving market growth in this region include low-cost labor, wide availability of raw materials, low energy cost, relaxed regulations, an abundance of cheap land and low-cost transportation options, according to BCC Research.
The Asia-Pacific market for high-performance films was valued at $20.6 billion in 2018 and is expected to reach $29.1 billion by 2023 at a compound annual growth rate (CAGR) of 7.1%, according to the report “High-Performance Films: Asia-Pacific Markets.”
Key players in the market include: 3M (MMM), Arkema SA (ARKAY), BASF SE (BFFAF), Chi Mei Corp., China National Petroleum Corp., Covestro AG (CVVTF), Daicel Corp., DowDuPont (DWDP), Eastman Chemical Corp. (EMN), Evonik Industries AG (EVKIF), Formosa Plastics Group and many others.
“The demand for polyester films in the Asia-Pacific is expected to increase as a result of increased demand for convenience packaging,” the report notes. “Polyester films with high optical clarity and durability are widely used, which also drives growth in the Asia-Pacific polyester films market. The same trend is expected to continue during the forecast period.”
High Cost and Limited Market Penetration Are Top Market Constraints
Issues that may hinder growth of the high-performance films market are high costs and limited market penetration in the Asia-Pacific region. Factors such as lack of product innovation and industrial growth in the automotive and semiconductor/electronics industry, weak purchasing power and complex government policies create obstacles are also limiting market growth. High-performance films are also more expensive than the standard films at large.
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High-Performance Films: Asia-Pacific Markets( PLS101A )
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