The market for specialty films is highly application-driven. Growth of flexible-packaging industry owing to its rising demand in construction due to increased aesthetic values and food & beverages is likely to have a positive impact on the market growth over the next five years.
Specialty-films manufacturers are witnessed investing in the advanced technology. Vendors are developing environmental-friendly specialty films because of implementation of stern environmental regulations and increasing awareness of sustainable development.
Furthermore the increasing demand for packaged food products is expected to drive the growth of the global Specialty Films Market. The demand for packaged food items has spiked in the Asia Pacific region. The reason is attributed to the growing dependence on the ready-to-eat products, and mushrooming of online retail and brick and mortar retail outlets.
The expansion of industrial base in China, India, and Brazil have led to the utilization of such tapes across the industries such as electronics, food & beverages, automotive, and aviation. Also, the countries have witnessed investment in terms of new facilities for the production of such films, as these countries offer low labor costs and ease of business.