The global fibre film market is slated to reach a valuation of USD 566.62 million in 2023. Through 2033, the market is estimated to stretch at 4.1% CAGR, to eventually stand at USD 846.85 million by 2033.
Key Takeaways from the Fibre Film Market Research
Opportunities Entering the Picture
| Data Points | Key Statistics |
|---|---|
| Fibre Film Market Expected Value (2023) | USD 566.62 million |
| Fibre Film Market Forecast Value (2033) | USD 846.85 million |
| Fibre Film Market Projected Growth Rate (2023 to 2033) | 4.1% CAGR |
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Businesses Enjoy the Best of Both Worlds: Environments and businesses hail fibre film as a ‘game changer’ in the packaging industry. This material can offer an elevated level of pallet stability, but it is required about 70% less. Thus, not only reducing the environmental impact but also lowering the annual cost-per-pallet. Fibre films offer a safer pallet and require fewer rotations of the films, thus saving plastic, time, and, eventually, cost.
Surging Demand for Sustainably-evolved Packaging: New-age food and beverage’s key players are seeking sustainable packaging material that is in line with the eco-conscious concerns of businesses and customers alike. Consequently, driving demand for packaging material like fibre film helps reduce waste, decrease carbon footprint, and help corporates ensure social responsibility.
User-friendly Application of Fibre Films: Fibre films are used in pallet wrapping of multiple load types and are apt for hand wrapping and fully automatic wrapping machines. Due to its user-friendly deployment for manual use, it is finding increasing applications in end-user industries. The use of fibre films adds more value to top-functioning stretch wrappers.
Ideal Characteristics of Fibre Films that Fuel its Market Adoption: Key characteristics of the fibre films like outstanding pallet stabilization, brilliant load retention, distinct ergonomic design, 100% recyclability, and tear resistance are all consolidating its adoption in end-use industries where demand for wrapping material is robustly increasing.
Manufacturers Offering Customized Packaging Solutions: Manufacturers are offering attractive services like completely custom and made-to-order for different end-use industries. Companies are tailoring their fibre film solutions to ensure there is something for everyone.
Competitive Strategies Employed by Key Players: Key merchants in the market are establishing effective joint ventures, collaborations, and acquisitions to widen their circle of consumers. These strategies are likely to enhance their target base by effectively meeting their requirements both domestically and globally.
Surging Adoption of Fibre Films Packaging Solutions: Forward-thinking producers in developed countries are showing high acceptance toward novel and recyclable fibre-based packaging solutions with a massive success rate.
Increasing Demand for Eco-friendly Fibre Films: Pulp and molded fibre products are emerging as green and sustainable alternatives to generally used plastics. Also, ongoing research and development to discover new and effective green packaging solutions is expected to further the market growth.
The global demand for fibre film is expected to surge at a CAGR of 4.1% from 2023 to 2033, reaching a total of USD 846.85 million by 2033. Between 2018 to 2022, sales registered a CAGR of 3.4%.
In the historical period, demand for fibre films has a stable increase in the end-use industries like pharmaceuticals, food and beverage, home and personal care, chemical and fertilizers, etc. In the estimated time frame, the market is expected to be pulled forward by factors like:
The United States market occupies a large slice of the global market. Factors spearheading the regional market include:
| Country | Value CAGR |
|---|---|
| USA | 3.2% |
| Germany | 4.5% |
| UK | 2.8% |
| Japan | 5.5% |
| China | 4.9% |
| India | 5.9% |
India accounts for significant sales of fibre films due to thriving food and beverage sectors. Other factors that are contributing to market growth in India include:
Australia is considered a top investment option by prevailing manufacturers of fibre films. Factors fueling the expansion of the fibre films industry include:
Japan’s market for fibre film currently holds a notable share of the global market. Variables that are positively affecting the market growth include:
The food and beverage industry recorded a sizeable purchase of fibre films in 2022. Surging demand for packaged goods like frozen meals, bakery items, RTE meals, and snack foods has contributed toward the use of fibre films in the food and beverage sector. Other uses of fibre films in the food and beverage industry include:
The booming home and personal care sector is catalyzing demand for fibre films for multiple purposes. Discussed below are the top factors that are proliferating the intake of fibre films:
Demand for automatic wrapping technology is expected to have a stronghold through 2033. Several advantages of utilizing automatic wrapping technology are expected to keep the sales of automatic wrapping technology at the forefront. These benefits include protection against grime, damage, humidity, and dust. By using an automatic wrapper as a safety precaution, the operator stays at the forklift.
The fibre films industry is proliferated with firms like Cnano, Canatu, NanoIntegris, Megaplast, Reddipak, TOYOBO, Wisepower, Nanocyl, Sequana, and Biax-Fibrefilm. Manufacturers are constantly seeking new opportunities to develop innovative packaging materials for existing and potential customers. For example,
In September 2022, Toyobo declared it has created a new biaxially oriented polypropylene film known as ECOSYARTM VP001. The product is the first transparent vapor deposition film series that includes a polyolefin fibre material. The product is a high-barrier film, composed of a specialty heat-resistant BOPP film, delivering outstanding barrier properties against water vapor and oxygen.
Discover Key Offerings by the Leading Competitors
| Company Name | Megaplast |
|---|---|
| Product Offering | Regular Fibre Film Series and ECO Fibre Film Series |
| In Detail | The product offering helps reduce the cost per pallet to about 40% while lowering the film utilized for packaging by 60%. Additionally, it is 100% recyclable and comprises high elasticity. |
| Company Name | Reddipak |
|---|---|
| Product Offering | Fibre Film Alpha series |
| In Detail | The product line is best suited for semi-automatic wrapping machines implanted with a brake tension system. These series have three categories like Fibre Film Alpha L (Light applications), Fibre Film Alpha GP (General Purpose), and Fibre Film Alpha HD (High Demanding) |
| Company Name | TOYOBO Co., Ltd. |
|---|---|
| Product Offering | ECOSYAR® |
| In Detail | ECOSYAR® is a see-through deposition film that does not include chlorine compound. It is excellent in barrier properties and is composed of polyester or nylon film with ceramics, having dual element vapor-deposition. |
| Attribute | Details |
|---|---|
| Anticipated Expansion Rate | CAGR of 4.1% |
| Market Value in 2023 | USD 566.62 million |
| Market Value in 2033 | USD 846.85 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Technology, Thickness, End Use Industry, Region |
| Regions Covered | North America; Western Europe; Asia Pacific; Eastern Europe; Latin America; Middle-east and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Megaplast; Reddipak; Wisepower; Nanocyl; Cnano; Canatu; NanoIntegris; Sequana; TOYOB; Biax-Fibrefilm |
| Customization | Available Upon Request |
In 2023, the fibre film market is valued at USD 566.62 million.
The market is likely to experience a 4.1% CAGR until 2033.
The market is estimated to reach USD 846.85 million in 2033.
The market registered a CAGR of 3.4% from 2018 to 2022.
Megaplast, Reddipak, and, Wisepower are the leading market players.
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