The most recent study conducted by Report Ocean, titled “Global Fibre Film Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Fibre Film. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Fibre Film Market is valued at approximately USD 522.86 million in 2021 and is anticipated to grow with a healthy growth rate of more than 4.1% over the forecast period 2022-2029. Fibre Film is a high-efficiency stretch film with comprises reinforcement elements to boost Tear Resistance. This film offers properties such as puncture resistance, high elongation, and pallet stability. Fibre film is highly adopted by industries including food & beverages, pharmaceuticals, chemical & fertilizers, home & personal care, and other end-use industries. The market is gaining huge prominence owing to the rising inclination toward developing lightweight automobiles and the expansion of the solar sector.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The rising application of fibre films in the pharmaceutical sector is stimulating the market demand at a significant rate. According to Statista, the global pharmaceutical industry was valued at USD 1204.8 billion in 2018, and this figure rose to USD 1423.5 billion in 2021. Additionally, it is projected that the pharmaceutical sector continues to expand, which is hastening market expansion around the world. Moreover, the rising initiatives by the key market players, as well as rising applications in the food & beverage sector are creating lucrative opportunities in the foreseen period. However, fluctuating prices of raw materials and rising environmental concerns stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Fibre Film Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rising application in secondary packaging and the strong presence of consumer goods manufacturing organizations. Whereas, the Asia Pacific is expected to grow with the highest growth rate during the forecast period. Factors such as the growth of the food and beverage sector, rising disposable income as well as the development of emerging countries such as India, China, and Vietnam, are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
Megaplast
Reddipak
Wisepower
Nanocyl
Cnano
Canatu
NanoIntegris
Sequana
TOYOB
Biax-Fibrefilm
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Recent Developments in the Market:
In September 2022, Toyobo declared that the company developed ECOSYARTM VP001- a new biaxially oriented polypropylene film. It is the first transparent vapor deposition film series product that integrates a polyolefin fibre material, which is a high barrier film that embraces a special heat-resistant BOPP film. The product provides excellent barrier properties against water vapor and oxygen.
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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential 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 Wrapping Technology:
Automatic Wrapping Fibre Films
Handheld Fibre Films
By Thickness:
Fibre Films below 10 Microns
Fibre Films between 10-50 Microns
Fibre Films 50 Microns & Above
By End-Use Industry:
Food & Beverages
Pharmaceuticals
Chemical & Fertilizers
Home & Personal Care
Other End-Use Industries
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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
ROLA
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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