(MENAFN- EIN Presswire) Reports And Data
The global construction film market was USD 9.35 Billion in 2022 and is expected to reach USD 14.76 Billion in 2032
NEW YORK CITY, NEW YORK, USA, May 1, 2023 /einpresswire.com / -- The global construction films market is projected to grow significantly during the forecast period, with a revenue CAGR of 5.2% from 2022 to 2032. The market was valued at USD 9.35 billion in 2022 and is expected to reach USD 14.76 billion in 2032. The major driving factor behind this growth is the rising demand for construction films for various applications in the industrial, commercial, and residential sectors.
The market growth is attributed to the increasing focus on enhancing the overall effectiveness and durability of building projects. Construction films are used for various applications, including vapor barriers, thermal insulation, roofing membranes, and protective films, which contribute to the market's revenue growth. The growing demand for construction films is due to the expanding construction industry, where they offer several advantages such as cost-effectiveness, durability, and resistance to harsh weather conditions.
The market growth is expected to be driven by the increasing construction activities worldwide, particularly in emerging economies, where the government is funding various infrastructure development initiatives. The demand for construction films in the residential construction sector is expected to be driven by the growing need for affordable homes and the increasing discretionary income of middle-class households. The commercial construction sector is also expected to contribute significantly to the market growth due to the growing trend of sustainable and energy-efficient building practices.
Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @
Construction Film Market: Segmentation
The market is driven by the rising demand for construction films for various applications, including industrial, commercial, and residential building projects. The increasing focus on improving the effectiveness and longevity of construction projects is also a major factor contributing to the growth of the market.
Construction films are used as vapor barriers, thermal insulation, roofing membranes, and protective films, among other applications. They are increasingly in demand due to the rapid expansion of the construction industry, as they offer benefits such as cost-effectiveness, durability, and resilience to extreme weather. Furthermore, the growth of the market is expected to be driven by the increasing construction activities worldwide, particularly in emerging economies where governments are investing heavily in infrastructure development.
The demand for construction films in the residential construction sector is also expected to rise due to the growing need for affordable homes and the increasing discretionary income of middle-class households. The market is segmented by type outlook, application outlook, and regional outlook. Companies operating in the market include Berry Global, Dow Chemical Company, Armando Alvarez Group, and Raven Industries Inc.
In 2021, Berry Global acquired Clopay Plastic Products Company, a leading manufacturer of breathable films and laminates used in healthcare, industrial, and construction markets, which will enable the company to expand its product portfolio in the construction film market and cater to a broader customer base. In 2020, Dow Chemical Company launched a new range of eco-friendly polyethylene resins for the construction film market, designed to provide enhanced strength and durability. Also in 2020, Armando Alvarez Group announced a significant investment in a new plant to manufacture high-performance agricultural and construction films, aimed at expanding the company's presence in the global market. Finally, Raven Industries Inc. introduced a new line of durable construction films under the brand name Raven Dura-Skrim, designed to provide superior protection against weather and other external factors, making them ideal for roofing and other construction applications.
Request Inquiry before buying:
Construction Film Market: Strategic Development
In recent years, several companies have made strategic moves to expand their presence in the global construction film market. Berry Global's acquisition of the Clopay Plastic Products Company in 2021 is a significant development in this regard. With the acquisition, Berry Global is now able to offer a wider range of breathable films and laminates for use in healthcare, industrial, and construction markets, thereby strengthening its position in the market.
Dow Chemical Company's launch of a new range of polyethylene resins in 2020 is another important development in the construction film market. These resins are designed to provide enhanced strength and durability while being eco-friendly, making them a desirable option for sustainable construction projects.
In the same year, the Armando Alvarez Group announced a significant investment of €35 million in a new plant aimed at expanding its production capacity and increasing its global presence. The investment is focused on manufacturing high-performance agricultural and construction films, which are in high demand due to the rapid expansion of the construction industry and the need for sustainable and durable solutions.
Raven Industries Inc. also launched a new line of construction films in 2020 under the brand name Raven Dura-Skrim. These films offer superior protection against weather and other external factors, making them ideal for use in roofing and other construction applications.
Overall, these developments demonstrate the growing importance of the construction film market and the increasing demand for sustainable and durable solutions in the construction industry.
Request Customization of this Report:
Construction Film Market: Competitive Landscape
The construction film market is highly competitive and includes several major players, such as AEP Industries Inc., Armando Alvarez Group, Arkema S.A., Berry Global Inc., Dow Chemical Company, ExxonMobil Corporation, Inteplast Group, Polifilm Group, Raven Industries Inc., Tama Plastic Industry, and Reynolds Group Holdings Limited.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Nikhil Morankar
Reports and Data
+1 212-710-1370
email us here
Visit us on social media:
facebook
twitter
linkedin