Functional films have attracted the attention of numerous industries in applications that need the different performance parameters of substrates. A variety of polymer films have been utilized in making functional films. Their use in providing high barrier protection against heat, light, and moisture makes for a huge prospect in the functional films market in various applications. A partial list includes packaging, electronics, automobiles, energy and life sciences. Functional films have become popular as adhesive films. The demand in the functional films market has been propelled by the growing application areas that need remarkable conductivity and optical performance.
Over the years, advances in material sciences have enabled manufacturers in the functional films market to engineer films with multi-functional properties. The study offers critical assessment of key growth dynamics, overview of opportunities in various product segments, and insight into the competitive dynamics.
A key focus area of several players in the functional films market is barrier films. Numerous manufacturers in the functional films market are also focusing on testing new materials to this end. A vast body of studies has echoed the result that pristine graphene exhibits remarkable polymer film barrier properties. In recent months, companies are looking to leverage this material for high value-grab opportunities in the functional films market. Aspiring players are likely to use graphene as one of the key materials in unveiling functional films that can be used for niche applications, such as for sensitive electronics. The Graphene Council has endorsed the promising potential of pristine graphene in functional films market.
In coming years, numerous such niche applications will impart momentum to the expansion of the functional films market. Numerous vendors are also aiming at new price points to fuel adoption of functional films.
Advances in production methods for new array of polymers have expanded the horizon of the functional films market considerably. The expanding range of use of functional films can be attributed to a great deal of the freedom they give to engineers in moulding them to complex shapes. Also, the adoption of less energy-intensive processes used by chemical companies will bolster the prospects in the functional films market.
In numerous developing and developed regions where the demand has matured, new revenue streams will come from the entry of new players. Meanwhile, existing players are also investing in strengthening their supply channel and storage capacities in order to meet the rapidly rising demand for functional films in some sectors.
In recent years, novel applications have come to the fore, benefitting stakeholders in the functional films market. For instance, functional films are increasingly being utilized in the making of construction materials that can control heat. Around the world, such materials are in high demand as a key enabler for ecologically friendly residential structures. A large revenue potential has also come from the rising use in automotive industry and beverages packaging. In the latter, barrier films have gathered traction over the years.
Some of the key regions in the functional films market are North America, Europe, Asia Pacific, and the Middle East and Africa. North America has been a remarkably lucrative regional market for several years. The growth has been fueled the large appetite for high-end polymer materials and the presence of modern polymer processing technologies.
Europe and Asia are likely to contribute a promising share to the functional films market. The prospects are cemented by the extensive research and development activities to engineer polymers that can meet a wide cross-section of demands in various end-use industries.
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