NEW YORK, November 29, 2018
NEW YORK, November 29, 2018 /PRNewswire/ --
Decorative Films and Foils Market Revenue Growth Supported by Increasing Spending on Furniture and a Growing Construction Industry
A decorative film is a thin laminate film, having a clear or colored pattern, which can be applied on the exterior or interior surfaces of substrate materials. A decorative foil is an impregnated paper product consisting of a paper base, which is printed with the rotogravure system and laminated with polymer resin materials such as PET. Decorative films and foils are used for substrates such as wood and glass, apart from others; however, they also find applications for other substrates such as wood. Using adhesive systems, decorative foils are bonded onto substrate materials, mostly wooden in nature. Decorative films are available with a variety of opacity, color, transparency, patterns and textures. The global market for decorative films and foils is expected to witness significant growth and create an absolute $ opportunity worth US$ 10.1 Billion during the forecast period.
Based on material type, the decorative films and foils can be classified into polyvinyl chloride, polyester, polypropylene, and vinyl. Polyvinyl chloride accounts for majority of the market share in the decorative films and foils market. The decorative films and foils market is expected to dominated by the polyvinyl chloride decorative films and foils segment, in terms of global market share, and is projected to account for around a 43% share of the total absolute $ opportunity in the decorative films and foils market during the forecast period.
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Decorative films and foils find applications in furniture, doors & windows, flooring, and automotive interior & exterior. The furniture segment is expected to lead the global decorative films and foils market and create an absolute dollar opportunity worth US$ 4.3 Billion during the forecast period.
Based on end use, the decorative films and foils market has been categorized into residential, commercial, and institutional sectors. Commercial end users consist of corporate offices, hotels and restaurants, shopping & retail and the automotive sector, among others. The commercial segment is expected to account for more than a 56% share of the total absolute $ opportunity created in the decorative films and foils market over the forecast period.
China is expected to be one of the most significant markets in the global decorative films and Foils market and is estimated to account for more than a 34% share of the global absolute $ opportunity in the decorative films and foils market. Furthermore, the growing construction industry and increasing spending on furniture in Asia Pacific excl. Japan & China are expected to create new opportunities in the decorative films and foils market. Europe continues to be a strong market for decorative films and foils and promising growth is being witnessed in the North America region as well. GCC Countries continue to anchor demand in the Middle East & Africa region.
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On the basis of end-user, the global life insurance policy administration system market is segmented into insurance companies, banks, and others. The insurance companies segment is expected to dominate the life insurance policy administration system market and enjoy a market share of 68.0% in 2018 and 70.3% in 2026.
On the basis of module, the global life insurance policy administration system market is segmented into customer relationship management, product development, training & development, business intelligence, and others. The business intelligence segment in the life insurance policy administration system market is expected to grow from US$ 560.9 Mn in 2018 to US$ 1,579.7 Mn in 2026 owing to the high CAGR associated with it.
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Competition in the decorative films and foils market is intense with a great deal of fragmentation and a mixture of multi-national companies as well as small and medium players serving the market. LG Hausys, Ltd., Renolit , Klockner Pentaplast Group, Omnova Solutions, Avery Denisson Corporation, Peiyu Plastic Corporation, Mondoplastico S.p.A, AVI Global Plast Pvt. Ltd, Ergis Group, Macro Plastic Sdn. Bhd, Jindal Group, Foleinwerk Wolfen GmbH and Amcor International are some of the key players in the global decorative films and foils market.
In terms of market value, the global decorative films and foils market is expected to create an absolute $ opportunity worth US$ 10.1 Billion during the forecast period. Market demand is projected to be driven by the uptake in the residential and commercial construction industry across China, Asia Pacific excluding Japan and China, Europe and North America.
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