Strategic Analysis to Understand the Competitive Outlook of Thermal Films Market

Global Thermal Film Market: An Overview

Thermal films are flexible films that can be used for lamination and packaging in several end-use industries. Thermal films are commonly made up of polyethylene terephthalate, nylon or polypropylene.  The use of thermal films helps in achieving superior aesthetics and a smooth flat surface. The most common application of thermal films is lamination over retail shopping bags, book covers, magazines and more.

Applications of thermal films are decided by the physical attributes of the substrate material used for the manufacturing of thermal films. Polyester based thermal films are employed for high-speed lamination, as these films possess superior adhesion and resistance against abrasion. This makes polyester-based thermal films a suitable choice for printing stocks that require heavy ink coverage. However, nylon-based films are capable of withstanding humid conditions without losing their structural integrity and form. Thus, these thermal films are employed for laminating book covers, folders, and others.  

Global Thermal Film Market: Dynamics

Thermal films are available in matte, gloss, and velvet finishes. The use of these films is also done for enhancing the aesthetics of the package. This aids the manufacturers in achieving product differentiation, which translates into increased shelf visibility and thereby, increased sales. The adoption of these films by packaging manufacturers to enhance their shelf visibility is expected to boost the sales of thermal films in the years to come. Also, several publishing houses are employing thermal films for laminating book covers and magazines to attract buyers’ attention and impart a premium look to the product.

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Furthermore, the penetration of thermal films is increasing in the packaging industry as the application of these films leads to surface protection during shipping and transit. Pouches, bags and other packaging formats are being laminated by thermal films to reduce damage occurring during the movement of goods across the value chain. This is more likely to result in reduced instances of returns, which take place due to damage occurred during delivery. Thus, the e-commerce industry is anticipated to pose remunerative opportunities for the growth of the thermal film market. Manufacturers of thermal films can leverage this potential by diversifying their product offerings and providing custom solutions for e-commerce packaging solutions.

Global Thermal Film Market: Segmentation

Globally, the thermal film market is segmented on the basis of material, thickness, application, and finish.

On the basis of material, the global thermal film market has been segmented as follows

• Bi-axially oriented polypropylene film (BOPP)
• Bi-axially oriented polyethylene terephthalate film (BOPET)
• Bi-axially oriented nylon-6 film (Nylon)

On the basis of thickness, the global thermal film market has been segmented as follows

• Up to 50 micron
• 50-80 micron
• 80-120 micron
• 120 micron and above

On the basis of application, the global thermal film market has been segmented as follows

• Packaging
• Printing & publishing
• Lamination

On the basis of finish, the global thermal film market has been segmented as follows

• Matte
• Gloss
• Velvet

Global Thermal Film Market: Regional Analysis

Geographically, the Asia Pacific region is expected to account for the majority of the share in the global thermal film market during 2019-2029. Increasing emphasis on the aesthetics of the packaging has led to a magnified demand for thermal films in the region. Thus, the region is projected to witness high growth during the period of forecast.

Moreover, emerging manufacturing sector in India and China is likely to pose lucrative growth opportunities for the thermal film market. The developed economies of North America and Europe are expected to pose a steady demand for thermal films in the years to come, owing to the well-established print & publishing industry in the region.  Also, established players in the print industry are likely to enter emerging markets, this is expected to surge the demand for thermal films used for lamination of book covers and magazines.

Global Thermal Film Market: Key Players

Some of the key players operating in the global thermal film market are Cosmo Films Ltd., International Imaging Materials, Inc., Jindal Poly Films Ltd., Mitsubishi Polyester Film, Inc., Dunmore Corporation, Henan Foils, Nobelus, and Jujo Thermal Ltd., among others.

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