Polyester Film Market Regional Analysis:
APAC Market Insights
Asia Pacific industry is likely to dominate majority revenue share of 37% by 2035. The market growth in the region is expected on account of the economic upswing, and increased consumption leading to the heightened requirement for packaging based raw materials. The rising industrialization in the region is another aspect that is driving the demand for polyester film.
In China, urbanization has been observed in full swing, necessitating construction projects, and more demand for automobiles, wherein polyester films find their important use. The prevailing robust pharmaceutical industry in China has grown by 22% between 2018 and 2020. This determines that the polyester film market is expected to be at a progressive increase since it has a crucial application in various pharmaceutical end-products. The market for polyester film is expanding in South Korea as well since it is a crucial component in the production of flat panel displays.
North America Market Insights
The North America will witness a boost for the polyester film market during the forecast period, with a share of 30.0%, owing to the increased consumption of packaged food and beverages, alongside a solid industrialization, and commercialization in the region.
The U.S., particularly, will observe a jump in the demand for the polyester film due to the weightage given to the packaging of various goods, especially from the FMCG sector. The country is also home to multiple well-established firms that are thoroughly into research and development of more efficient packaging products utilizing polyester film. The reusability factor of the polyester film provides an eco-friendly option by employing it to manufacture other end-products, even after its use and putting its remarkable properties to use. Canada is also expected to generate revenue in the forecast period in the polyester film sector, as a result of its expansive application in the augmenting packaging-focused cosmetic industry.
