March 22, 2017
New proprietary research by BCC Research expects technology advances to drive developments in major segments of the high-performance film markets, including packaging, the largest end-use market. In 2016, Asia and China accounted for more than 60% of the global polyester films consumption, with China leading all regions with a 9.7% CAGR in that segment.
BCC Research's report forecasts the global markets for high-performance films to reach $16.2 billion in 2021, up from about $11.2 billion in 2016, demonstrating a 7.7% CAGR.
"About two-thirds of the world’s PET films capacity is classified as 'commodity grade,' which is mainly used for packaging," notes BCC Research Editorial Director Kevin Fitzgerald. "The global average operating rate of 'commodity-grade' PET films producers is estimated to be at 80%, while China’s operating rate is below 70% due to surging investment into the industry."
Asia-Pacific a Key Region in Films Market, Especially China
In China, growing overcapacity in the early 2010s worried the industry players and operating rate and profit kept declining. However, the operating rate is now stable, and profit is good, as some manufacturers retreated and the capacity is reduced.
"When the biaxially-oriented polyethylene terephthalate (BOPET), a polyester film made from PET chips, experienced very fast growth and was very profitable in the late 2000s in China, many new investors entered the industry," Fitzgerald explains. "Overall, Asia and China should continue to grow their commanding share of the global polyester films consumption through 2021."
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High-Performance Films: Global Markets( PLS076B )
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