The global static-free packaging films market is anticipated to accumulate a market value of US$ 767.4 million in 2023 and is expected to garner a valuation of US$ 1,600 million by exhibiting a CAGR of 7.6 % in the forecast period 2023 to 2033. The market for static-free packaging films reflected growth with a 5.2% CAGR in the historical period 2018 to 2022.
The rising penetration of the e-commerce industry globally is one of the primary growth-driving factors of the market. The wide utilization of static-free packaging materials in electronic goods in order to protect them from physical damage during transportation is further fuelling product demand. Moreover, mounting import-export activities are anticipated to accelerate product demand during the forthcoming period.
The demand from the food & beverages and pharmaceutical sectors for packing products to protect them from contamination and sustain their hygienic value during further transportation is expected to foster growth in the static-free packaging films market. Also, the expansion of the healthcare industry has boosted the anti-static film market to a high extent since this kind of packaging helps maintain hygiene and is less prone to leaks and damage than glass packaging.
The use of static-free films in medical devices is employed to protect against leakage and provide shock resistance. Thus, the surge in demand for Anti-static films in the packaging industry is accelerating the global demand. In addition, increasing disposable income, burgeoning demand for foreign goods, expansion of the end user industries, extensive use of anti-static films in the automotive sector, rapid industrialization, and urbanization are expected to give a positive push to the market growth.
Innovations and technological advancements extend lucrative opportunities to the anti-static packaging film market players in the coming years. Besides this, medical devices also utilize anti-static packaging films to protect against leakage and provide shock resistibility. Therefore, the surging demand for Anti-static packaging films in the healthcare packaging industry is expected to increase product sales.
Developing countries are incorporating anti-static films and composite-based materials at a rapid pace which is contributing to boosting product sales. The high economic growth in these countries, along with rapid industrialization, urbanization, and improved standards of living, also plays a crucial role in adopting fuel-efficient cost-cutting machinery.
Region-wise, in North America, the United States is the leading country in the region, due to fast growth of major end-use industries like automotive, pharmaceuticals, and electrical & electronics. North America is appearing to dominate the market by garnering 37.8% market share by end of the projection period. Factors such as constant product innovation, adoption of advanced technologies, and wide use of these films in the packaging of high-end electronic products.
Likewise, Asia Pacific is projected to grow with fastest CAGR of 7.4% during the period of projection. High demand for anti-static packaging solutions in the pharmaceutical industry is augmenting growth in this region. Tremendous growth of manufacturing industries in emerging economies, such as India and China are increasing reliance on reused machinery and equipment. This is estimated to fuel market growth. Also, this region will witness substantial growth because of the strong presence of a large manufacturing industry, growing disposable income, and rapid urbanization in the region.
What are the Key Trends Impacting Growth of the Static-free Packaging Films Market?
Not only the electronics manufacturing company but also the pharmaceutical industry nowadays is employing the use of static-free packaging films to avoid the development of the static charge over the outer packaging material of the medicines to avoid the destruction of the medicinal properties and nature of the medicine.
Also, the additional development in the antistatic additives is able to deliver outstanding antistatic performance in very dry conditions in case of the food industry and industrial packaging industry. It is majorly employed in case of flexible packaging to decrease or circumvent processing issues and the risk of electrical shock, etc.
The film is found to have versatile additives to produce instant long-term anti-static effects with low surface resistance when compared to conventional antistatic technologies.
How challenging it can be to Reduce or Remove the Charge in the Plastic Sheet?
In plastic sheets, the built-up static charge can cause a complex problem resulting in the damage of packaged goods. The application of the static-free packaging film plays an excellent role, besides the additives which help to reduce the static charge.
The majority of the plastics are electrical insulators which result in the accumulation of electrostatic charges on the surface which have the strong charge developed. Due to this, this charge stays on the surface for a long time until the charge is neutralized.
This may lead to issues such as excessive dust, increased handling problems, and dirt builds up on the surface of the plastic material then causing damage to delicate medical or electronic products. It may also lead to cause fire or explosion risk if static sparks are produced near flammable liquids.
Moreover, static electricity cannot be eliminated but can be controlled by controlling the ionization process with the help of the addition of additives like, high impact polystyrene which effectively reduces the surface resistance for the static charge on the surface.
How will Static-Free Packaging Films Effectively Cater to the Packaging Market?
In today’s world, the import-export activities and trade between the countries are carried on a higher level due to the technological advancements in terms of the supply chain or logistics and also in terms of product development. Moreover, growing trade activities are anticipated to grow the static-free packaging film market sooner.
Also, a rise in the e-commerce industry, increasing demand for foreign goods, and increase in per capita income of the people can uplift the market in the forecasted period. Furthermore, these films are also used in the automobile industry, in the packaging of car parts to prevent them from damage during transportation.
Also, the development of electronic products and new product launches will help to grow the market positively. Replacement of rigid packaging by flexible packaging can also boost the use of anti-static films due to its outstanding features is also anticipated to grow the market positively.
Investment and Development in the research and development to bring out product and technology innovations in the anti-static films market is also expected to uplift the market in the forecasted period.
Why will the Asia-Pacific Region Generate Significant Demand for Static-free Packaging Film Market?
With the continuous increase in the population number in countries like India, China and Japan there is humungous demand for electrical products in the region with growth in the electronics industry. Also, the growth of the pharmaceutical sector in developing countries is expected to uplift the market.
Furthermore, government initiatives like Smart City and Make in India projects by the Indian government are also anticipated to grow the market in near future.
Also, increase in the industrialization is expected to favour the market growth in near future.
How Competitive is the Market?
· In April 2020- Mitsubishi Polyester Film GmBh tackled the pandemic by producing anti-fog films for critical medical face shields, along with films for many other important products. The ‘Hostaphan 4FOG’ is a chemically primed, transparent film that can also be used in medical face shields.
· In August 2020- Klöckner Pentaplast informed about its intention to expand its post-consumer recycled PET extrusion capacity by 17,500 metric tons, which significantly increases its capacity for thermoformed recyclable protein trays in North America.
These insights are based on a report Static-free Packaging Films Market by Future Market Insights.