Thermoplastic Films Market

Global Market Study on Thermoplastic Decorative Films: Propylene Films to Remain Widely Used across Sectors

Market Snapshot

Newly released data from the thermoplastic decorative films market analysis shows that global demand for propylene-based films enjoyed year-on-year (YoY) growth of 6.9% in 2021, to total 366 Mn sq. mtr. The vinyl segment grew 5.8% to 1,028 Mn sq. mtr, while the PET segment was up 5.6% to 551 Mn sq. mtr.

Considering the value growth rate, Persistence Market Research has anticipated thermoplastic decorative film sales to witness a CAGR of close to 6% over the coming assessment period of 2021 and 2031. In terms of volume, demand is expected to increase at over 5% CAGR over the same period.

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Companies

  • Hanwha L&C
  • KlocknerPentaplast Group
  • Omnova Solutions
  • Avery Denission
  • AVI Global PlastPvt. Ltd.
  • Ergis Group
  • Macro Plastic Sdn. Bhd.
  • Jindal Group
  • Alfatherms.p.a.

Key Points Covered in Thermoplastic Decorative Films Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Thermoplastic Decorative Films and How to Navigate
  • Recommendation on Key Winning Strategies

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Sales Analysis of Thermoplastic Decorative Films from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031

Historically, from 2016 to 2020, use of thermoplastic decorative films increased at around 3% CAGR, wherein, developed countries such as the U.S., Canada, Germany, and the U.K. held significant share in the global market.

On a global scale, growing construction activities in developing regions such as Asia Pacific and Latin America are expected to fuel market growth over the coming years. Countries in Asia Pacific such as China, India, and ASEAN, among others, are expected to focus on increasing their infrastructure and construction spending in future.

Moreover, space heating and cooling are by far the largest energy consuming applications in buildings. Application of various types of thermoplastic films on doors and windows helps reduce the need for temperature management to a substantial extent, which is boosting the sales of thermoplastic decorative films for use in furniture, doors, and windows.

This growth in construction and infrastructure spending across the globe is expected to create ample of opportunities for manufacturers of thermoplastic decorative films. Considering these statistics and shift in dynamics, the market for thermoplastic decorative films is forecast to expand at a healthy CAGR of close to 6% over the decade.

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What are the Key Opportunities on Offer for Thermoplastic Decorative Film Manufacturers?

With increasing adverse effects of climate change and the need to reduce wasteful energy consumption, there is a concerted effort on the part of policy planners and governments to encourage, and in some cases mandate the adoption of energy-efficient measures to reduce energy consumption.

Owing to regulations and guidelines issued by regional governments, lucrative opportunities are expected to be created during the forecast period of 2021-2031. Thermoplastic decorative films are used in temperature management through applications in doors and windows lamination, which reduces demand for heating and cooling energy from residential and commercial buildings.

With growing disposable income and transformation in personal choices, individuals and corporate buyers are increasingly demanding customized designs in furniture. Moreover, growing trend of smart furniture that consumes less space and provides comfort is being observed across some regions.\

With the growth of the global furniture market, increasing opportunities for thermoplastic decorative film manufacturers are expected to be created during the assessment period of 2021-2031.

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What Restraints Do Thermoplastic Decorative Film Suppliers Encounter?

Owing to the presence of cheaper and more advantageous alternatives such as acrylonitrile styrene acrylate, polycyclohexylenedimethylene terephtalate, polyaryletherketones, polyetherimide and many others, sales of thermoplastic decorative films are expected to witness a challenge.

Growth in the use of polymeric sheets owing their several advantages such as strength, chemical resistance, and variety of design and texture patterns is expected to become a key challenge for thermoplastic decorative film manufacturers.

Moreover, stringent regulations imposed on manufacturers during production pertaining to the use of non-degradable materials and chemically-treated products, which are also associated with hazard generation used in human proximity, is also one of the key challenges for thermoplastic decorative film manufacturers.

To overcome these challenges, manufacturers are investing in the Asia Pacific region owing to the presence of lenient governmental regulations.

Which Region Offers the Largest Opportunity for Sales of Thermoplastic Decorative Films?

With an absolute dollar opportunity of around US$ 3 Bn, East Asia is expected to be the most lucrative region for suppliers, as per the market report on thermoplastic decorative film.

China is leading the East Asian market, and is expected to witness a CAGR of almost 7% during 2021-2031. With fast-paced growth of its economy and changes in lifestyle, Chinese consumers’ inclination towards mart ideas and solutions has grown multi-fold in the recent past.

Owing to vast population of the country coupled with limited availability of land area, the country has strong demand for smart furniture that consumes less space and provides more comfort. Chinese manufacturers are engaged in the development of smart furniture solutions and space-saving ideas, which is fueling demand for thermoplastic decorative films.

How are Stringent Environmental Regulations in Europe Impacting Demand for Thermoplastic Decorative Films?

Environmental regulations pertaining to the use of non-degradable materials and chemically-treated products are getting more and more stringent, especially in the European region.

Manufacturers are being pushed to comply with new regulations, whether by changing their raw materials or their compositions, which is increasing manufacturing costs and disrupting the competitive atmosphere of the market.

In order to overcome this challenge, manufacturers are investing in emerging economies such as India, ASEAN, and others to cash in on manufacturer-friendly governmental regulations.

thermoplastic-decorative-films-market

Country-wise Analysis

Why is Demand for Thermoplastic Decorative Films High in China?

China is expected to dominate the East Asian as well as global thermoplastic decorative films market. The country is expected to hold more than 78% of the market share in East Asia.

China has a vast population and limited land area. Owing to this, the country sees significant demand for furniture, especially space-saving furniture. Due to the growing trend of decorative furniture for residential and commercial use in order to stand out, significant demand from the furniture segment is expected to create more avenues for market players.

Moreover, China is one of the leading names in generating and shifting toward clean energy. The country has put several steps forward to protect the environment and saving energy.

Thermoplastic decorative films are very useful in reducing heating and cooling energy demand from residential and commercial buildings. When applied on windows and doors, they is beneficial for thermal management of the room to reduce energy needs.

Will Thermoplastic Decorative Film Manufacturers Gain Increased Profits in the U.S.?

In 2021, the U.S. market for thermoplastic decorative films market grew 5.9% year-on-year, bucking initial skepticism about how the market would perform during a global pandemic.

Across the whole of North America, total sales of thermoplastic vinyl and PVC films reached 151 Mn sq. mtr, which makes the U.S. one of the most lucrative markets for thermoplastic decorative films.

The U.S. construction market has witnessed significant growth in recent years. This growth coupled with high number of commercial buildings in the country creates robust opportunities for 2D and 3D laminates that are used on furniture, doors, and windows.

However, stringent regulations imposed on manufacturers for the production of non-degradable materials and chemically-treated products is a longstanding challenge for U.S.-based manufacturers to overcome.

Category-wise Insights

Which Thermoplastic Decorative Film Material is the Most Popular?

Propylene films are anticipated to witness substantial growth over the coming years, expanding at over 6% CAGR, owing to growing demand for use in automotive interior and exterior parts, furniture, consumer goods, and many others.

Propylene films have various advantageous properties such as toughness, rigidness, and cost efficiency, coupled with characteristics such as glossiness, high clarity, high tensile strength, and stability. The segment is projected to account for 1/5 of overall market share.

However, even though propylene is the fastest-growing material, but vinyl and polyvinyl chloride type thermoplastic decorative films are more widely used.

Which Application is a Key Market Driver for Thermoplastic Decorative Films?

Furniture is one of the largest consumer segments for thermoplastic decorative films. The segment is anticipated to account for nearly 47% of market share.

Thermoplastic furniture films are used to protect the surface from wear and tear, moisture, and scratches. These films used in furniture are rigid in nature and free from plasticizers. Common applications of thermoplastic films in furniture include cabinets, doors & frames, tables, ceiling applications, windows and window sills, roll container, drawer wraps, etc.

Why is the Commercial End User Segment Important for Providers of Thermoplastic Decorative Films?

Revenues in the commercial end-use segment of thermoplastic decorative films grew at a robust 6.3% year-over-year in 2021. Demand from this segment increased 5.7% in 2020/2021, giving the overall market for thermoplastic decorative films year-over-year growth of 5.9% in 2021.

Competitive Landscape

Several key market participants discussed in the study have focused on product development, launching of new and innovative products, and expanding their manufacturing capacities by setting up of new production units in emerging economies. Key strategies include acquisitions, product innovation, collaborations and partnerships with key players, strategic alliances, and strengthening of regional and global distribution networks.

Some of the key developments are:

  • LG Hausys, Ltd. has launched a new range of product namely Solid Matt in 2018 under its portfolio of Deco Foil. The product offers variety of color options to the consumers. Further the company had launch a new type of PVC film which is scratch resistant, Stain Resistant, and offers 3D lamination. The company named the newly launched series as DURAFOIL.
  • In 2020, Klöckner Pentaplast announced expansion of PET production capacity in 2020 to increase sales footprint in North America. In 2021, in order to reduce carbon footprint and provide alternative, Covestro AG and its recently acquired company DSM Resins and Functional Materials developed a 3D printing material made up of recycled PET.

Similarly, more developments related to companies manufacturing thermoplastic decorative films have been tracked by the team at Persistence Market Research, which are available in the full report.

Report Scope as per Thermoplastic Decorative Films Industry Research

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle east and Africa

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • South Africa
  • GCC Countries
  • Turkey

Key Market Segments Covered

  • Material
  • Application
  • End Use
  • Function
  • Installation
  • Region

Key Companies Profiled

  • LyondellBasell Industries Holdings N.V.
  • Covestro AG
  • Avery Dennison Corporation
  • LG Hausys Ltd.
  • Klöckner Pentaplast
  • C.I. TAKIRON Corporation
  • Schweitzer-Mauduit International, Inc.
  • Omnova Solutions, Inc.
  • RENOLIT
  • Jindal Polyfilms Ltd.
  • RTP Company, Inc.
  • Nihon Matai Co., Ltd.
  • Victrex plc
  • Konrad Hornschuch AG
  • Ergis SA
  • Hanwha L&C
  • Mondorevive S.p.A
  • Alfatherm S.p.A.
  • Folienwerk Wolfen GmbH
  • Fine Décor GmbH
  • PROTECHNIC SA
  • AVI Global Plast Pvt. Ltd
  • Peiyu Plastics Corporation
  • Macro Plastic Sdn. Bhd.

Pricing

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Key Market Segments Covered in Thermoplastic Decorative Films Industry Analysis

By Material

  • Vinyl and Polyvinyl Chloride Thermoplastic Decorative Films
  • PET Thermoplastic Decorative Films
  • Polypropylene Thermoplastic Decorative Films
  • TPU Thermoplastic Decorative Films
  • TPO Thermoplastic Decorative Films
  • TPE Thermoplastic Decorative Films

By Application

  • Thermoplastic Decorative Films for Furniture
    • Furniture Fronts
    • Cabinets & Frames
    • Tables
    • Ceiling Applications
    • Decorative Self Adhesive Applications
  • Thermoplastic Decorative Films for Doors & Windows
  • Thermoplastic Decorative Films Automotive Interiors and Exteriors

By End Use

  • Thermoplastic Decorative Films for Residential Use
  • Thermoplastic Decorative Films for Commercial Use
    • Indoor
    • Outdoor
  • Thermoplastic Decorative Films for Transportation Use
  • Thermoplastic Decorative Films for Institutional Use

By Function

  • 2D Lamination Thermoplastic Decorative Films
  • 3D Lamination Thermoplastic Decorative Films
  • Self-adhesive Thermoplastic Decorative Films

By Installation

  • New Installation of Thermoplastic Decorative Films
  • Thermoplastic Decorative Films for Re-decoration

FAQs Answered in Study

  • How much is the thermoplastic decorative films market valued currently?

    The global thermoplastic decorative films market is slated to be worth US$ 8.5 Bn in 2021.

  • What will be the demand outlook forthermoplastic decorative filmsover the next ten years?

    Global demand for thermoplastic decorative films is projected to rise steadily at close to 6% CAGR over the next 10 years.

  • At what CAGR did the market forthermoplastic decorative filmsincrease in the past 5 years?

    The market progressed at a sluggish 2.3% CAGR from 2016 to 2020, mainly hit by the COVID-19 pandemic in 2020.

  • What are the main trends being witnessed in thethermoplastic decorative filmsindustry?

    Launching of new products to cater to changing demand patterns is being witnessed. For instance, LG Hausys, Ltd. launched a new type of PVC film that is scratch- and stain-resistant, and offers 3D lamination.

  • Which factor is mostly driving demand forthermoplastic decorative films?

    Demand for thermoplastic films is growing as the construction industry and automotive sector expands to accommodate an increasing urban population.

  • What market share is held by the top 5 manufacturers ofthermoplastic decorative films?

    Top 5 manufacturers with their respective market shares: LyondellBasell Industries Holdings N.V. (6.2%), Covestro AG (5.1%), Avery Dennison Corporation (4.8%), LG Hausys Ltd. (2.9%), and Klöckner Pentaplast (2.6%).

  • What is the outlook for the North America market forthermoplastic decorative films?

    The market in North America is valued at US$ 1.5 Bn, and is expanding at over 5% CAGR.

  • Which are the top 5 countries driving demand forthermoplastic decorative films?

    China, the U.S., Japan, India, and South Korea and the top five countries that are driving most of the demand for thermoplastic decorative films.

  • Which countries are the top exporters of thermoplastic decorative films?

    China, the U.S., Germany, and Japan are the major exporting countries of thermoplastic decorative films.

  • How are Japan and Korea faring in the market forthermoplastic decorative films?

    Statistical analysis reveal that, the market in Japan is set to advance at 4.5% CAGR to reach US$ 415 Mn in 2031, while that in S. Korea at 5.3% CAGR to reach US$ 252 Mn.

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