Global polyester film market expected to reach US$ 56.1 billion by 2034, driven by sustainability and innovation.
From GlobeNewswire: 2025-01-16 06:30:00
The global polyester film market is expected to reach US$ 32.2 billion in 2024, with a projected CAGR of 5.7% from 2024 to 2034. This growth is driven by applications in various industries such as packaging, consumer electronics, and automotive.
Sustainability initiatives have led to the development of eco-friendly polyester film variants. The market is witnessing increased demand in the electrical and electronics industry, with emerging economies contributing significantly. North America and Europe focus on new applications and sustainability, while companies invest in R&D for product improvement.
The global polyester film market is projected to grow at a 5.7% CAGR, reaching US$ 56.1 billion by 2034. East Asia is estimated to hold a market share of 37.3% in 2024, with barrier films expected to grow at a CAGR of 5.7%. North America and East Asia are anticipated to create a combined opportunity of US$ 11.6 billion.
Innovation in sustainable solutions and expanding applications in emerging technologies drive the polyester film market’s growth. Manufacturers’ focus on environmentally conscious products positions the market for sustained growth across various sectors. Leading players in the market include Mylar Specialty Films, Toray Industries, Inc., and Mitsubishi Polyester Film GmbH.
Key players in the polyester film market, like BASF SE and DuPont de Nemours, Inc., are investing in R&D to address industry-specific challenges. Toray Advanced Composites announced an expansion of its California facility to meet increasing demand for advanced composite materials. DuPont Teijin Films rebranded as Mylar Speciality Films in February 2024.
The global polyester medical films market is expected to grow at a CAGR of 7.3%, reaching US$ 3.4 billion by 2034. The polyfilm market is projected to expand at a CAGR of 3.5% from 2022 to 2032, with a surge in revenue to US$ 185.18 billion by 2032. The high-performance films market reached US$ 42.72 billion by 2021.
The plastic film market is estimated to be valued at US$ 95,615.9 million in 2024, with a forecasted value of US$ 149,915.7 million by 2034. The polyester filament market size is around US$ 116.2 billion in 2024 and is projected to reach US$ 191 billion by 2034, growing at a CAGR of 5.1%.
Read more at GlobeNewswire: Polyester Film Market Size Expected to Hit US$ 56.1