DUBLIN--(BUSINESS WIRE)--The "Global Functional Films Market Size, Trends & Growth Opportunity, By Packaging Type, By Application By Region and Forecast till 2027." report has been added to ResearchAndMarkets.com's offering.

The global functional films market is estimated to reach US$ 37 billion by the end of 2027, in terms of revenue, growing at CAGR of 4.5% during the forecast period (2020 to 2027).

Functional films are polymer sheets which are used to improve the properties of the fragile substrate. They are widely used across solar cells as well as the automotive industry for enhancing the functional properties of the automotive component. These films can be classified into conductive films, adhesive films, optical films, and water-soluble films. In the healthcare industry, functional play vital role in the development of various high-quality medical products. These films are protective, heat and chemical resistant, transparent, durable, and flexible in nature.

Market Drivers

The increase in installation of solar panel is expected to boost the growth of global functional films market over the forecast period. For instance, as per the information provided by the Solstice, the U.S. had 64.2 GW of installed solar- enough to power 12.3 million American homes by the 2018. Solar energy accounts for 1.6 percent of total United States electricity generation. Therefore, the growing solar cell market is projected to accelerate the growth of the functional film market.

Furthermore, according to the World packaging, the world packaging market amounted to US$ 851 billion in the year 2017, an increase of 2.8 percent compared to 2016 at constant prices & it is set to reach US$876 billion in 2018, based on the annual growth of 2.9 Percent. The functional films are widely used in the packaging industry due to their various advantages such as lightweight as compared to other packaging materials, durable, abrasion-resistant, and flexible. Hence, the growing packaging industry is supporting the functional films market growth.

Market Restraints

Fluctuating prices of raw materials to produce functional films are expected to hamper the global functional films market growth. Also, lack of awareness regarding the benefits of functional films across developing & underdeveloped countries is expected to hinder the global functional films market growth during the forecast period.

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Functional Films Market?
• What will be the growth rate from 2020 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?

Market Segmentation

By Product Type

• Conductive
• Optical
• Adhesives
• Water-soluble

By Application

• Flat Panel Display (FPD)
• Electronics & Semiconductors
• Automotive
• Construction
• Energy
• Healthcare & Pharmaceuticals
• Packaging

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Companies Mentioned

• Toray Industries Inc
• 3M
• Nagase & Co. Ltd.
• Eastman Chemical Company
• Tatsuta Electric Wire & Cable Co. Ltd.
• SABIC
• Covestro AG
• Toppan Printing Co. Ltd
• Panasonic Corporation
• Mondi Plc

For more information about this report visit https://www.researchandmarkets.com/r/cjxx7p

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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