Acrylic Films Market Size, Share, Growth, And Industry Analysis by Type (Soft Type, Hard Type) by Application (Construction, Consumer Electronic, Advertising Signage, Automotive Decorative, Reflective Sheet & Other), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

ACRYLIC FILMS MARKET REPORT OVERVIEW

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global acrylic films market size was USD 438.23 million in 2021 and market is touch USD 745.8 million by 2031 at CAGR 5.46% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with acrylic films market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

The worldwide acrylic films market's total demand is anticipated to be driven by rising consumer desire for biodegradable acrylic films. The use of cutting-edge technologies for decorative laminates, the use of plastic as a replacement for glass and metal, rising demand for flexible and hygienic food packaging materials, rising demand for decorative laminates made of PET, PVC, and PP, and changing consumer preferences toward eco-friendly products are all predicted to contribute to the growth of the global acrylic films market size. As they provide a variety of acrylic films for packaging, decorating, and a variety of industrial uses, manufacturers in emerging nations are concentrating on product differentiation. Some of the reasons anticipated to generate new possibilities for participants in the global acrylic films market include increased demand from packaging firms for sustainable and biodegradable Mulch films and increasing usage of energy-efficient technologies by acrylic films producers.

COVID-19 Impact: Government Limitation Had A Significant Negative Impact On The Market Globally

The industrial and manufacturing sectors have been driven by COVID-19 into an uncharted operating environment on a worldwide scale. Government limitations on how many people may congregate in one area at once have had a significant negative impact on the industries. For instance, the effects of the virus are severely felt in the industrial industry. During the first lockdown period, manufacturing and factory operations in the automotive, metal processing, oil & gas, electronics, and aerospace industries were temporarily suspended. China is the primary supplier of raw materials to the majority of industries. As a result, industrial output has also been significantly impacted by supply chain interruptions. The pandemic has caused a decline in the world economy. As long as the pandemic persists, COVID-19 will continue to have an influence on all industries. 

Latest Trends

"Creation Of Specialty Films To Expand The Market Growth"

In recent years, there has been an upsurge in demand for niche films. The production of specialised films involves the usage of specialty polymers. Specialty films come in a wide range of kinds, including nylon, polyolefin, polyvinyl butyl, and polyester. Compared to specialty films, which are expensive and will see increased demand in the years to come, commodity films may be produced at a reduced cost. In the upcoming years, there will be a strong need for specialised films of all kinds, including multilayer films. They are non-porous and serve as effective barriers. The packing of the meat makes extensive use of these films. They are also extensively utilised in the packaging of pharmaceutical and cosmetic goods. Specialty films are being produced utilizing compostable and biodegradable materials, and demand for these goods is expected to increase over the next few years. 

ACRYLIC FILMS MARKET SEGMENTATION

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• By type

Depending on acrylic films given are types: Soft Type, Hard Type. The Soft Type type will capture the maximum market share through 2027.

• By Application

The market is divided in Construction, Consumer Electronic, Advertising Signage, Automotive Decorative, Reflective Sheet & Other based on application. The global acrylic films market  players in cover segment like Construction will dominate the market share during 2021-2027.

Driving Factors

"Increasing Demand For Distinctive Goods To Drive Market Growth"

The market's expansion in recent years has been greatly aided by the advent of biaxial films. These movies have the ability to extend indistinctly in two directions. The film undergoes a lot of modifications as a result of its orientation. High rigidity and shiny Ness are present. They are used in a wide variety of industries, including packaging, graphics, electronics, electrical, and photography. Since the demand for these goods is anticipated to increase in the upcoming years, producers of acrylic films are concentrating on producing them. They are widely utilised in the food packaging sector. The demand for acrylic films  will increase along with the anticipated expansion of the acrylic films market growth in the upcoming years. The product should be recommended for usage in the food packaging business since it is non-toxic. Being a barrier between the food and the environment also aids in preserving the scent.

"Increased Demand For Bi-Axially Oriented Films To Drive Market Growth"

Films that are biaxially oriented have special characteristics that allow them to stretch in two different directions. The film's properties can alter depending on how it is oriented, including its high rigidity, low elongation, and lustrousness. Electrical and electronics, packaging, photography, graphics, and industrial niche applications all require BOPP films. As the demand for bi-axially oriented films increased, some acrylic films producers decided to focus their manufacturing efforts on this type of film instead. The main use for these films is food packing. Thus, the need for bi-axially oriented films has grown along with the development of the acrylic films market growth in emerging nations. It is the material of choice for food packaging since it is non-toxic and reduces odour. In order to create bi-axial films with higher mechanical, optical, and barrier characteristics, they are stretched in both machine direction (MD) and transverse direction (TD).

Restraining Factors

"Different Markets Being Oversaturated To Limit Market Growth"

The need for acrylic films and sheets has declined recently in regions like North America and Europe. As the markets have matured over the last five years, demand has slowed. The need for acrylic films and sheets won't rise in the next years for nations like France, Germany, and the United Kingdom. The current financial crisis in Italy had a negative impact on the market for these goods. The country's acrylic films market growth was affected by the financial crisis.

ACRYLIC FILMS MARKET REGIONAL INSIGHTS

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"Asia-Pacific Is Expected To Develop At The Fastest Rate Due To The Large Populations"

The region in the Asia-Pacific is predicted to develop at the quickest rate due to the existence of China and India, two nations with significant populations. The rise in disposable income in these two nations will support the expansion of sectors including food and beverage, medicines, pet food, and cosmetics, which in turn will support the expansion of the acrylic films market share. Additionally, international suppliers are establishing strategic alliances to access the Indian market. The regional acrylic films market share is anticipated to change as a result. In order toplast accelerate expansion, Huhtamäki Oyj acquired a national supplier, Mohan Mutha Polytech Private Limited, in September 2019. (MMPPL). The client base in the area would increase as a result of this purchase, particularly in the food and beverage industry. 

In 2021, Europe was the second-largest region. In the regional sector for Europe in 2021, packaging accounted for the largest application category. Acrylic films and films used in packaging applications are anticipated to be impacted by the pharmaceutical industry's slowing expansion in Germany, France, and Italy due to the relocation of production bases to regions with cheap manufacturing costs. However, it is anticipated that rising R&D spending in the pharmaceutical sector in Europe would indirectly support product demand in the upcoming years. Additionally, it is anticipated that the expanding personal care products market in Germany, the United Kingdom, France, and Italy would have a favourable effect throughout the projection period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Spartech LLC (U.S)
• RÖHM GmbH (Germany)
• Okura Industrial Co (Japan)
• Rowland Technologies (U.S)
• Kaneka (Japan)
• Sumitomo Chemical (Japan)
• Lonseal Corporation (Japan)
• Mitsubishi Chemical Corporation (Japan)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.