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Breathable Films Market 2021- Global Industry Analysis by Trend, Size, Share, Competition, Growth, Dynamic Analysis and Development Suggestions, COVID-19 Impact, Forecast till 2028
The breathable films market size was USD 2.6 billion in 2020. The market is projected to grow from USD 2.8 billion in 2021 to USD 4.8 billion in 2028 at a CAGR of 8% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Breathable Films Market, 2021-2028.” Factors such as the ability to provide moisture control in various products and rising demand from food packaging will drive the growth of the market during the forecast period. Additionally, prominent players are offering breathable textile backsheet, which will boost the market growth.
COVID-19 Impact
Shutdown of Manufacturing Sector & Lockdowns to Impact Market in a Negative Market
The COVID-19 pandemic will push the market toward a negative impact on the industry due to deep-rooted connections toward the textile, packaging, and medical industries. The pandemic forced various economies worldwide to go into forced lockdowns and further impose restrictions on the general population to curb the spread of the virus. Additionally, decreased availability of raw materials and declining customer income further slowed down the progress of the market during the forecast. A faltering transport system and halted world trade routes downgraded the volume of the market.
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Segments
By type, the market is divided into polyethylene, polypropylene, polyester, polyurethane, and others.
Based on application, the market can be broken down into hygiene & personal care, food packaging, construction, medical, and others.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report provides a detailed analysis by capturing critical aspects including leading companies, types, and applications. Additionally, the report contains ongoing industry developments and highlights ongoing market trends to present readers with a comprehensive prospect. Also, the report encompasses an analytical forecast at the global, regional, and a local level to further provide valuable insights into the sector. The report further encompasses factors that are expected to impact the market in a positive/negative manner.
Drivers & Restraints
Rising Demand for Baby Diapers to Augment Market Share
Factors such as rising population, increasing demand for hygiene & comfortableness, and rising need for baby diapers will boost the breathable films market growth during the forecast period. Additionally, rising per-capita income, increasing population of per-capita, and rising population of working mothers will increase the footprint of the market. Also, prominent players offering breathable textile backsheet will further fuel the growth of the market.
However, volatility in raw material pricing will hinder the growth of the market during the forecast period to a certain extent.
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Regional Insights
Asia Pacific to Dominate Prominent Share due to Rising Demand from Pharmaceutical & Personal Care Products
Asia Pacific will occupy the largest breathable films market share during the forecast period due to increasing population and rising population from working mothers in the region. Additionally, rising demand from various sectors including pharmaceutical, personal care products, and food & beverages along with rising per-capita income among consumers will boost the growth of the market. Rising consumer awareness, increasing investment activities, and rising demand for processed foods will drive the market volume.
North America will hold a significant market share in terms of global contribution, owing to expanding construction industry and increasing building & architecture in the U.S. and Canada among others. Rising demand in terms of food packaging, heavy-duty snacks, and shopping bags will further fuel the growth of the market.
Competitive Landscape
Product Development & Mergers & Acquisitions to Bolster Market Share
The market is extremely fragmented with many dominant players operating in the industry. Dominant players are focused on increasing production capacity, mergers & acquisitions, improving product launches, and collaborations to increase market presence. For example, in November 2021, Polytex Fibers launched its line of recyclable films and bags produced from polyethylene. Others are focused on expanding its product outreach on a global scale to increase revenue.
Industry Development
- February 2021 - Dow entered into a Memorandum of Understanding (MoU) with Lucro Plastecycle, an Indian recycling company for the development and introduction of post-consumer recycled (PCR) based polyethylene (PE) film solutions in India. The agreement will allow Dow to launch a close-the-loop packaging solution to boost a circular economy in India, and additionally expand the company’s plastics circularity portfolio in Asia Pacific.
List of Key Players Present in the Market
- Arkema (Colombes, France)
- Fatra, a.s. (Napajedla, Czechia)
- NITTO DENKO CORPORATION (Osaka, Japan)
- RKW Group (Mannheim, Germany)
- Covestro AG (Leverkusen, Germany)
- Skymark (Scunthorpe, U.K.)
- SILON (Sezimovo Ústí II, Czech Republic)
- TEC LINE INDUSTRIES (Rajkot, India)
- DSM Engineering Plastics (Heerlen, Netherlands)
- AMERICAN POLYFILM, INC. (Connecticut, U.S.)
- Imerys (Paris, France)
- TORAY INDUSTRIES, INC. (Tokyo, Japan)
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