Textile Films Market Size 2024 And Growth Rate

The textile films market size has grown strongly in recent years. It will grow from $5.78 billion in 2023 to $6.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rising demand for protective clothing, growth in healthcare sector, environmental regulations, increased textile sector.

Textile Films Market Growth Forecast

The textile films market size is expected to see strong growth in the next few years. It will grow to $8.39 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increasing demand for sustainable materials, rising demand in healthcare, expansion in automotive applications, health and hygiene products, functional textiles for various industries. Major trends in the forecast period include advanced manufacturing techniques, healthcare and medical textiles, packaging material advancements, consumer electronics and tech integration, energy-efficient construction materials, weather-resistant materials, advancements in sports and outdoor gear.

Textile Films Market Driver: Rising Urban Population Drive Growth Of Textile Film Market

The rapidly growing urban population is expected to drive the demand for the textile film market going forward. Urbanization refers to the shifting of population to urban areas. The positive effects include economic development, accessibility to education and jobs and a higher quality of life, and more income. All these factors combined make it lucrative for people to spend on high-quality textiles which has led to the development of new textile films and techniques. According to the World Bank, an international financial institution, the urban population in South Asia is expected to grow by 250 million by 2030. According to a report by PricewaterhouseCoopers (PwC), a UK-based professional services company, By 2030, urbanization is anticipated to account for 60% of global population. Therefore, the rapidly growing urban population will promote the textile film market.

Textile Films Market Driver: Rise In Construction Activities To Drive Market Growth

The increase in construction activities is expected to propel the growth of textile films going forward. Textile films find extensive applications in architectural membranes, roofing systems, facades, and interior design within the construction sector. Their lightweight nature, coupled with properties such as energy efficiency, sustainability, and versatility, makes them ideal for various construction applications. The demand for innovative and technologically advanced solutions in smart building technologies, as well as the global emphasis on infrastructure development, further propels the adoption of textile films in the construction industry. For instance, in September 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction production was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the increase in construction activities is driving the growth of the textile films market.

Global Textile Films Market Major Players

Major companies operating in the textile films market report are RKW Group, Covestro AG, Berry Global Group Inc., Mitsui Hygiene Materials Co Ltd, Schweitzer-Mauduit International Inc., Toray Industries Inc., Jindal Poly Films Ltd., Chirpal Poly Film Ltd., Arkema S.A, American Polyfilm Inc., Dongying Gaolart Import & Export Co, Fatra A.S., Trioplast Industrier AB, Cosmo First Limited, Nahar Poly Films Limited, 3M Company, AEP Industries Inc., Amcor Limited, Avery Dennison Corporation, Bemis Company Inc., Bonset America Corporation, CCL Industries Inc., DuPont de Nemours Inc., DSM Engineering Plastics Inc., Eastman Chemical Company, ExxonMobil Chemical Company, Flex Films Inc., Formosa Plastics Corporation, Futamura Chemical Co. Ltd., Garware Polyester Ltd., GBC Industrial Tools S.p.A.

Global Textile Films Market Trend: Technological Advancements Driving Innovation In Textile Films Market

Major companies operating in the textile films market are adopting new technologies to sustain their position in the market. For instance, in April 2023, Justrite, a US-based, industrial safety solutions provider launched PetroPad Smart Polymer Spill Pad to absorb and permanently solidify hydrocarbons like oil, diesel and gas. The geotextile fabric of the PetroPad contains a one-of-a-kind polymer technology that can convert dangerous hydrocarbons into a substance resembling rubber that is not hazardous. The unique polymer blend used in the PetroPad is designed to trap hydrocarbons in a permanent manner while permitting rainwater to pass through without becoming contaminated. This innovative spill-control technology provides a significantly greater oil capacity, reduces the costs associated with waste disposal, and eliminates the possibility of an environmental disaster.

Global Textile Films Market Trend: Product Innovations Transforming The Textile Films Market

Major companies operating in the textile films market are developing new materials with high wash durability to gain a competitive edge in the market. For instance, in October 2022, 3M, a US-based conglomerate company launched the next generation of Industrial Wash Reflective Transfer Films, designed for high-performance safety garments. The 9725 and 9745 films offer unmatched wash durability, lasting up to 75 and 100 industrial wash cycles, respectively. Suitable for various industries, including manufacturing and utilities, these films enhance wearer visibility in low-light conditions. The innovation aligns with sustainability goals, holding Oeko-Tex Standard 100 certification. With an emphasis on durability, brightness, and disinfectant washability, these films represent a significant advancement in safety wear for industrial settings.

Textile Films Market Merger And Acquisition: Bemis Associates Expands Global Innovation Reach With Acquisition Of Protechnic

In May 2022, Bemis Associates Inc., a US-based plastic fabrication company, acquired Protechnic for an undisclosed amount. With this acquisition, Bemis will be able to develop new and innovative items globally, notably in the United States, Europe, and Asia. Protechnic is a France-based company that manufactures adhesives and plastic printed films.

Regional Outlook For The Global Textile Films Market

Asia-Pacific was the largest region in the textile films market in 2023. The regions covered in the textile films market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the textile films market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The textile films market consists of sales of acrylics, nylon, and urethane. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The textile films market research report is one of a series of new reports from The Business Research Company that provides textile films market statistics, including textile films industry global market size, regional shares, competitors with a textile films market share, detailed