High-Performance Thermoplastic Films Market Analysis | 2020-2025

“The High-Performance Thermoplastic Films Market is expected to grow at a healthy CAGR to reach US$ 802.8 million by 2025."

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Market Dynamics

Introduction

Thermoplastic is a plastic polymer material that is moldable at a certain elevated temperature and solidifies upon cooling. Three types of thermoplastics include standard thermoplastics (for continuous use under 100°C), engineering thermoplastics (for continuous use between 100°C-150°C), and high-performance thermoplastics (for continuous use above 150°C). Thin layers of high-performance thermoplastic are called high-performance thermoplastic films.

These films can stretch over 200% with extrusion being the major production method. High-performance thermoplastic films offer better temperature stability, chemical resistance, and mechanical properties in comparison to standard and engineering thermoplastic films but at a higher price.

Market Drivers

The growing interest in the use of thermoplastic films on account of their recyclability, the trend of miniaturization in the electronics industry, superior injection molding properties assisting in the reduction of part cycle time, and films’ suitability as an insulator in the electrical & electronics industry are some key factors keep fueling the growth of high-performance thermoplastic films in the major end-use industries.

Further, the leading players are also forming long-term contracts in the market to smoothen their supply bottlenecks. For instance, in 2019, Solvay and Safran went under a long-term agreement for the supply of Halar®, ECTFE high-performance film, for Safran’s LEAP aircraft engine acoustic panels.

COVID-19 Impact

The year 2020 is likely to be burdensome because of the recent outbreak of the novel coronavirus (COVID-19), which has already started hampering various industries with a colossal adverse impact on economic growth. All major end-use industries, such as electrical & electronics, automotive, aerospace, and construction, have already started portraying huge shortfalls with many manufacturing facilities being temporarily shut down for an undetermined timeline due to the outbreak of this virus.

The high-performance thermoplastic film market is also not untouched with such severity owing to the halt of operations of many manufacturing facilities in the major markets, such as China, the USA, Italy, and France. Currently, the assessment of the real impact of coronavirus on each industry is unpredictable as the disease is continuously spreading and imprinting its dreadful impact on mankind. However, we expect the market to gradually recover in the coming years with a long-term market outlook to be favorable. The high-performance thermoplastic films market remains salubrious with consequential growth opportunities in the long-term scenario. 

Segments Analysis

By Material Type

“HPPA dominates the market during the forecast period.”

The market is firstly segmented based on the material types such as PPS, PAEK, PSU, LCP, PEI, HPPA, and others. HPPA is expected to remain the most dominant material type over the next five years. The high share is attributed to the huge demand from the automotive and electrical & electronics end-use industries, owing to properties of HPPA films such as good flexibility, excellent insulation, and superior heat resistance.

 LCP films also hold a significant share of the market. These films are a preferred choice for flexible electronics applications, such as flexible solar cells and electronic circuit boards for computers as well as mobile phones, owing to their superior electrical characteristics, dimensional stability, low moisture absorption, and excellent heat resistance.

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By End-Use Industry Type

“The electrical & electronics segment is likely to remain the biggest demand generator for high-performance thermoplastic films among automotive, aerospace, electrical & electricals, industrial, and others during the forecast period.”

High-performance films are preferably used in printed circuit boards as they fulfill key requirements, such as thermal conductivity and low moisture absorption. There is also an urge in the market demand for high-performance films from flexible electronics applications, especially from consumer goods electronics such as computers and mobile phones. 

Regional Analysis

“Asia-Pacific is projected to remain the largest as well as the fastest-growing region for high-performance thermoplastic films during the forecast period.”

The high growth is attributed to the growing electrical & electronics industry in the region especially in India and China. The presence of major electronic device manufacturers (Sony, Panasonic, Toshiba, and LG) and the growing demand for flexible electronics are substantiating the market growth for high-performance thermoplastic films in the region.

Further, there is also a continuous shift of the electronics industry from the developed western economies to the developing Asian economies. The outbreak of COVID-19 in major Asian economies may fade the growth trajectory temporarily, especially in 2020, but the region’s attractiveness among all regions remains ubiquitously in terms of market growth and size.

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Key Players

The supply chain of this market comprises raw material suppliers, high-performance thermoplastic film manufacturers, distributors/tier players, and end users.

The key players in the high-performance thermoplastic films market are (arranged alphabetically).

• Covestro AG
• Dow Chemical Company
• E.I. DuPont De Nemours and Company
• Eastman Chemical Company
• Evonik Industries AG
• Honeywell International Inc.
• Sealed Air Corporation.
• Solvay SA
• The 3M Company
• Toray

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s high-performance thermoplastic films market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process. This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. 

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the end-use industry types by technology type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

Recent Market News

Some of the Key Merger & Acquisition and Strategic Alliances in the Market: The market’s attractiveness has led to a series of acquisitions of small fishes by the big guns, rolling the market towards greater consolidation.

• In January 2015, Solvay completed the acquisition of the Ryton PPS (polyphenylene sulfide) business from Chevron Phillips Chemical Company for US$ 220 million. The acquisition enhanced the company’s portfolio of high-performance polymers and also led the company to gain a strong foothold of Ryton PPS in high-growth applications of automotive and electronics.

• In 2019, Sealed Air Corporation acquired MGM’s flexible packaging business. The acquisition led the company to expand its capacity and footprint in the Asian market (especially in Southeast Asia) for a flexible packaging business.

• In 2016, GE and Sealed Air Corporation went into an agreement and created a new film suitable for use across GE’s portfolio of healthcare and life sciences businesses.

Some of the Key New Product Launches in the Market are:

• In 2017, Honeywell introduced Aclar UltRx 6000 which is an ultra-high barrier PCTFE film developed for pharmaceutical packaging.

• In 2019, Evonik developed the world’s widest-ever high-quality PMMA film, which came on stream at its new manufacturing plant located in Weiterstadt (Germany).