Functional films Market is valued approximately USD 31.60 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.7% over the forecast period 2021-2027.
Functional films are polymer sheets used to improve the properties of brittle substrates. They are commonly used in solar cells and the automotive industry to improve the functional properties of automotive components. Functionality is very important in the development of various high-quality medical products in the healthcare industry. These films are designed to be protective, heat and chemical resistant, transparent, long-lasting, and flexible. As a result of their excellent chemical and physical properties, these films are in high demand across a wide range of end-user industries The demand for functional film is expected to grow due to rising solar panel installation, especially in the United States. According to the Solstice, the United States had 64.2 GW of solar installed by the end of 2018, enough to fuel 12.3 million American homes. Solar energy accounts for just 1.6 percent of overall power production in the United States. As a result, the functional film market is expected to rise in parallel with the solar cell market. One of the major factors driving the growth of the functional film market is the increasing use of green technology in the manufacturing of functional film. According to the World Packaging Organization, the global packaging industry reached US$851 billion in 2017, up 2.8 percent at constant prices from 2016, and is expected to reach US$876 billion in 2018, based on annual growth of 2.9 percent. Functional films are commonly used in the packaging industry for a variety of reasons, including their light weight relative to other packaging products, abrasion resistance, durability, and flexibility. As a result, the market's growth is boosted by the rising packaging industry. Lack of awareness about the benefits of functional film in developing and underdeveloped countries is expected to limit market growth during the forecast period. Furthermore, the availability of substitutes such as high-performance film is expected to limit the growth of the functional film market. The increasing use of functional film to protect product quality from moisture, gas barrier, and other factors in industries such as healthcare, homes, automobile, electronics, building, and others is driving up demand for the product.North America, Europe, Asia Pacific, and the Middle East and Africa are some of the main regions in the functional films industry. For many years, North America has been a surprisingly profitable regional market. The high demand for high-end polymer materials, as well as the availability of modern polymer processing technologies, have fueled the development. Europe and Asia are expected to contribute a sizable portion of the functional film market. The prospects are bolstered by extensive research and development efforts to engineer polymers that can meet a diverse range of demands in a variety of end-use industries.
Major market player included in this report are:
LG Chem
Sumitomo Chemical
KangdeXin
Eastman
Nitto Denko Corporation
Samsung SDI
Bayer
Toray Industries
MNTech
CCS
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Conductive films
Optical films
Adhesive films
Water soluble films
By Applications
Flat Panel Displays (FPD)
Electronics and Semiconductor
Automotive
Construction
Energy
Healthcare/Pharmaceutical
Packaging
By End-users
Residential
Commercial
Industrial
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year 2018, 2019
Base year 2020
Forecast period 2021 to 2027
Target Audience of the Functional films in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors