Furniture Films and Foils Market to Reach US$ 22.8 Bn by 2030; Both, Manufacturing and Demand Hit Due to Covid-19 Pandemic
Published On : Jun 03, 2020
The furniture films and foils market is majorly driven by the growth of the construction industry, which has a positive impact on the furniture sector; there has been a rise in spending recorded across all regions, particularly China, the U.S., Germany, and India, to name a few. Furniture films and foils are also used for their physical properties, in addition to the design and aesthetic appeal that they provide. Furniture films and foils protect the substrate on which they are applied from physical damage such as scratches, damage from spillage of water or other liquids, protection from stains, and the like. All these benefits help increase the durability and working life of the furniture. As such, the adoption of furniture films and foils is significantly increasing across the globe.
The global furniture films and foils market is estimated to expand at a CAGR of 6% by value during the forecast period of 2020-2030.
Key Takeaways of Furniture Films and Foils Market Study
- Digital and custom printed furniture films are currently most sought-after in the furniture films and foils market. The demand for these is increasing significantly, which, in turn, will assist the growth of the global films and foils furniture market over the coming years.
- Based on material, polyvinyl chloride (PVC) is gaining traction in the market, owing to its superior properties such as heat transfer, tensile strength, elasticity, abrasion resistance, and others.
- Growth of the construction industry and the consequent rise in spending on furniture and related accessories are expected to be key drivers for the furniture films and foils market in the foreseeable future.
- Increasing adoption of energy-efficient measures in residential and commercial buildings is boosting the use of furniture films and foils, owing to their superior heat transfer property.
- East Asia is expected to hold a prominent share in the global furniture films and foils market, owing to the rapidly growing furniture manufacturing industry and construction industry.
- Sluggish constriction activities, due to the Covid-19 pandemic, has resulted in decreased demand for new furniture across the world, there affecting the growth of the furniture films and foils market.
“Prominent manufacturers involved in the production of furniture films and foils are laying emphasis on development and expansion by establishing new plants that help them increase their production capacities and gain access to new distribution networks, which is expected to increase their customer base in the years to come. Also, price competitiveness can help players avoid the trial and error cost of the price-setting process, and help them set prices at the same level as their competitors,” says a PMR analyst.
Furniture Films and Foils Market Landscape
The market for furniture films and foils is highly competitive, with a great degree of fragmentation. Global companies face strong competition from local players across all geographies. Increasing focus on product development and adoption of new technologies such as digital and custom furniture films is a one of the key strategies of players in the furniture films and foils market. Key players in the landscape are also focusing on marking their direct presence in local markets.
What Does the Future Hold?
Furniture foils have traditionally been manufactured by the impregnation of paper or fibrous material with a thermally active resin under high temperature and pressure conditions. New production technologies such as UV/EB curing are being developed to produce high quality furniture foils that possess the same performance features with lower environmental impact and reduced production time. This is expected to lead to the high adoption of new manufacturing technologies in the coming years.
Want to Know More?
Persistence Market Research has published a market research report on the furniture films and foils market, which contains global industry analysis of 2015–2019 and opportunity assessment for 2020–2030. The report provides insightful analysis of the furniture films and foils market through four different segments - material, application, end use, and region. The furniture films and Foils market report also provides supply and demand trends, and a comprehensive list of suppliers and distributors in the market, along with a detailed overview of the parent market.
For additional insights on how the furniture films and foils market will shape up over the next decade, write to firstname.lastname@example.org
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Furniture Films And Foils Market
Global Market Study on Furniture Films and Foils: Construction Industry Growth Boding Well for Increased Sales Opportunities
Global Market Study on Furniture Films and Foils: Construction Industry Growth Boding Well for Increased Sales OpportunitiesRequest TOC