Key players must invest substantial monetary resources in R&D to ensure convenient user experience and longer shelf life of flexible packaging solutions.
DUBAI, UAE / ACCESSWIRE / February 12, 2020 / Global nylon films market is poised for a promising CAGR of over 5% through the course of forecast period (2019 - 2029). Towards the end of 2029, the nylon films market is set to represent a billion-dollar industry, as projected by a new Future Market Insights (FMI) study. Soaring demand for flexible packaging solutions from pharmaceuticals and food industries remains a major factor responsible for the promising growth outlook of the nylon films market.
"Rigid packaging solutions have been the conventional choice of manufacturers and consumers in view of their reliability and superior barrier properties. However, flexible packaging solutions are gaining notable momentum, owing to their lighter weight and extended durability," finds the FMI report.
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Key Takeaways of Nylon Films Market Study
- By-axially oriented polyamide (BOPA) films will hold a whopping 80% share in market by 2029 end.
- Pharmaceuticals industry would remain the top end-use category in nylon films market.
- Nylon films of thickness ranging from 21 to 30 microns are witnessing widespread adoption.
- Gains in nylon films market will be concentrated in East Asia throughout the forecast period.
Nylon Films Market - Top Growth Drivers
- Global industry shift towards lightweight, durable, and flexible packaging solutions is a major market growth contributor.
- Meat packaging converters are witnessing a demand upsurge, creating a plethora of growth opportunities for nylon films manufacturers.
- End users in fast developing economies such as China and India are generating strong demand for nylon film packaging solutions.
- Increased R&D initiatives by prominent players is pushing the market growth.
Nylon Films Market - Key Restraints
- Nylon film manufacturers continue to face significant impediment from complicated recycling process of multilayered packaging solutions.
- Relatively high price point of recycling multilayered packaging solutions is a strong factor limiting market growth.
- Significant barriers in maintaining the adhesive tie layer will hinder the growth of nylon films market.
- Orientation process diminishes the adhesion strength by 90%, which is a major growth constraint for nylon films market.
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Competition Landscape of Nylon Films Market
R&D activities will be vital for market leaders in gaining competitive advantage. Cost-effectiveness, adhesive quality, and recycling procedure will be the core areas of research. Some of the key players that this FMI report covers, include but are not limited to: Hyosung, Toyobo, Amcor, Honeywell, and Unitika. These prominent players are focused on unlocking profitable avenues through capacity expansion. For instance, Honeywell purchased additional nylon film plants to boost production capacities in South Korea. On the other hand, companies such as Kohjin and Mitsubishi Chemical are entering joint ventures to achieve the desired production capacity.
More About the Report
The 137-page study offers an in-depth market forecast and analysis on the nylon films market. The major categories encompassed by the report include grades (nylon 6, nylon 66), thickness (upto 10 microns, 11 to 20 micros, 21 to 30 microns, above 30 microns), film type (composite polyamide, by-axially oriented polyamide), end-use (food, pharma, electrical, chemicals) across seven regions (Middle East & Africa, Oceania, East Asia, South Asia, Europe, Latin America, North America).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's largest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights