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Textile Films Market is Estimated to Grow upto 7.08 Billion by 2025 | By Major Market Players are RKW Group, Covestro AG, Berry Global, Mitsui Hygiene Materials Co., Ltd., Arkema and many more...

/EIN News/ -- PUNE, India, June 22, 2019 (GLOBE NEWSWIRE) -- Global Textile Films Industry was valued at USD 4.6 Billion in the year 2018. Global Textile Films Industry is further estimated to grow at a CAGR of 6.9% from 2018 to 2025 to reach USD 7.08 Billion. The increasing use of hygiene products such as baby diapers and sanitary napkins, increase in aging population, growth in the infrastructure sector, and growing urbanization are the major drivers for the textile films industry. Another factor driving the textile films industry is the increased awareness around maintaining proper feminine and child hygiene. However, the volatility of raw material prices is restraining the growth of the industry. Most of the raw materials used in the production of textile films are petroleum products. The prices of these raw materials have been highly volatile in recent times, touching a five-year low, which affected the industry growth.

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Segmentation based on application, the Textile Films Industry has been segmented into sugar confectionery, chocolate, gums, and other applications such as caramel, fillings, coatings, spreads, aerated confectionery, and cereal bars. The chocolate segment have dominated in the Textile Films Industry as there is an increasing demand for chocolates, changing lifestyles coupled with evolving eating habits, owing to the health benefits attached to it, consumers’ preference for convenience food and high purchasing power of consumers.

APAC was the most promising industry for textile films in 2018 and is expected to be the same during the forecast period. The rising population, increased demand for hygiene products, growing disposable income, rapid industrialization, and increased urbanization are driving the APAC textile films industry. Shifting demographics such as low infant mortality rate, growing awareness about maintaining hygiene, and improving lifestyle standard are responsible for the high growth of the industry in the hygiene segment.

Major Market Players in Textile Films Industry are RKW Group, Covestro AG, Berry Global, Mitsui Hygiene Materials Co., Ltd., Arkema, SWM International, Toray Industries Inc., Schweitzer-Mauduit International, Arkema SA, Dongying Gaolart Import & Export Co., merican Polyfilm Inc., Trioplast Industrier AB, and Fatra A.S.

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