The Asia Pacific construction film market is anticipated to reach USD 29.1 billion by 2024, according to a new report by Grand View Research, Inc. these films are increasingly being preferred in residential and commercial sector owing to their low maintenance and easy handling attributes.
Rapid urbanization, rising safety concerns and changing lifestyles backed by increasing disposable income in Asia Pacific economies have influenced consumption trends of materials. This has led to increased application scope in fittings and accessories for housing apartments.
Presence of enormous consumer base for housing and low-cost labor backed by broadening of plastic trade has created numerous opportunities for industry participants. The increasing application scope of puncture & scratch resistance films in green building practices has also led to their proliferation in environment control events.
Vapor barriers accounted for over 25% of the volume share in 2015. These barriers are rapidly gaining popularity in tropical countries, with high precipitation level on account of outstanding moisture & humidity control properties.
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Further Key Findings from the Study Suggest:
Asia Pacific construction films demand was estimated at 11.58 million tons in 2015 and is projected to grow at a CAGR of over 6% from 2016 to 2024
Advancements in manufacturing processes and technologies coupled with high quality plastic materials is expected to drive the product demand in coming years
Gas barriers segment value is projected to grow at a steady pace, with a CAGR of over 7%, owing to expansion of delicate operating areas such as manufacturing plants and laboratories
Rising demand for better-quality crops has created lucrative opportunities for greenhouse films market in India. India is projected to grow at the highest CAGR of 8.7% as a result of government funds being injected into construction sector to support economic growth
Refurbishment and restoration account for majority of the building activities in Japan due to the country’s susceptibility to natural disasters. These activities will yield a positive influence on industry growth in future
Companies are involved in novel product development with improved repulsive characteristics, which are ideal for modern architectural applications
Influential companies operating in this market includeLaizhou Laixing, Qingdao KF, Arun Manufacturing, GECO Industrial Co. Ltd., Asia Polymer Corp., Guangdong Jinbang Industry & Technology Co. Ltd., Dow Polyurethane, Great Cosmo Industries, Climax Synthetic Pvt. Ltd., and EP Industries Sdn Bhd.
Grand View Research has segmented the Asia Pacific construction film market on the basis of application and region:
Asia Pacific Construction Film Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
Asia Pacific Construction Film Region Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
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