Allied Market Research published a research report on the construction films market. The findings of the report states that the global market for construction films generated $8.0 billion in 2020, and is expected to garner $14.6 billion by 2030, witnessing a CAGR of 6.3% from 2020 to 2030.The report offers valuable information on evolving market trends, major segments, top investment pockets, and key competitors for market players, investors, shareholders, and new entrants.
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Eswara Prasad, the Manager, Materials & Chemicals at Allied Market Research, highlighted, “The construction industry is growing rapidly in both financially stable and economically developing countries around the world. This is propelling the construction film market forward, as the demand for protection and storage of various building materials from builders and constructors grows. In addition, there is a growing demand for protective films and water barriers. In recent years, this element has had a favorable impact on the expansion of the construction film market.”
The report offers in-depth analysis of drivers, restrains, and opportunities to help market players in devising strategies and capitalizing on potential market opportunities. Rise in construction activities, growth of the construction industry in developing countries, and increase in government projectsdrive the growth of the global construction films market. On the other hand, use of non-biodegradable plastic impedes the market growth. However, development of eco-friendly polyethylene films and recycling plastic filmspresents new opportunities in the upcoming years.
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The research offers an extensive scenario of Covid-19 along with outlining its impact on the construction films market across the world. The outbreak of the COVID-19 pandemic negatively affected the growth of the global construction films market. The initial phase of the pandemic had halted the construction activities around the world and disrupted the supply chaindue to the implementation of lockdown. This reduced the use of construction films for the curing of concrete from the ground.
The report offers detailed segmentation of the global construction films market based on type, application, end use, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue generating segments to accomplish growth in the future.
By application, the gas & moisture barrier segment dominated the market in 2020, contributing tomore than one-fourth of the global construction films market, and is anticipated to continue its leadership status throughout the forecast period. Moreover, this segment is expected to witness the fastest CAGR of 6.3% from 2020 to 2030.
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By end user, the residential segment held the largest share in 2020, accounting for more than one-third of the global construction films market, and is expected to maintain its lead position during the forecast period. Moreover, this segment is anticipated to witness the highest CAGR of 7.4% from 2020 to 2030, owing to the rise in number of residential construction projects across the globe as a result of the growing population.
By region, Asia-Pacific, followed by North America, dominated the market share in terms of revenue 2020, contributing for nearly two-fifths of the global construction films market. Moreover, this region is anticipated to witness the highest CAGR of 7.2% during the forecast period, owing to mass scale infrastructure and massive urbanization in the developing countries of the region.
Leading players of the global construction films marketanalyzed in the research include Eastman Chemical Company, Mitsubishi Chemical Corporation, Raven Industries, Inc., Saint-Gobain, Berry Global, E.I. du Pont de Nemours, Mondi, RKW SE, Supreme, and Toray Industries, Inc.
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