According to a new report published by Allied Market Research, titled, "Breathable Films Market by Material, Technology, and End Use: Global Opportunity Analysis and Industry Forecast, 2021–2030," the global breathable films market was valued at $3.0 billion in 2020, and is projected to reach $6.7 billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030.
Breathable film is a polymer-based film that is manufactured using polyethylene, polypropylene, and polyurethane. Polypropylene is one of the raw materials used for manufacturing nonwoven breathable film for medical sectors. Polyethylene is one of the raw materials used for manufacturing breathable (micro-porous) films in the hygiene industry.
The growth of the global breathable films market is driven by surge in demand for personal care and hygiene products is the major growth factor in the Breathable films are widely used for moisture control applications in a variety of personal care and hygiene products such as baby diapers, sanitary napkins, and adult diapers to reduce skin infections and rashes caused due to wet skin. Moreover, increase in awareness for cleanliness and hygiene has surged the demand for personal care products. According to a report published by the Indian Ministry of Economy and Industry, the personal care and cosmetics industry is one of the rapidly growing consumer products sectors, and is estimated to be worth around $10.5 billion by the end of 2021. In addition, development of the healthcare industry is predicted to augment the growth of the global market.
However, availability of substitute products that have similar properties of breathable films is predicted to hamper the market growth.
Conversely, increase in trend toward packed food products is predicted to offer lucrative opportunities for during the forecast period. Moreover, rise in purchasing power of consumers and fast-paced lifestyle have boosted the sales of packed food items in both developed and developing economies. According to an article published by the Business Standard, the packed food market in India is expected to double in the upcoming 5–10 years, owing to strong economic growth, increase in penetration of e-commerce platform, and demographic dividend. Breathable films act as an excellent barrier for moisture control in food items and enhance their shelf life by keeping them fresh for longer durations. Rise in trend toward healthy eating habits has further boosted the growth of the breathable films market. Moreover, several studies have found that the use of breathable films for food packaging applications balances the amount of oxygen, carbon dioxide, and moisture inside the food package.
The breathable films market is segmented into material, technology, end use, and region.
By material, the market is segregated into polyethylene, polypropylene, and others. The polyethylene segment dominated the global market in terms of revenue in 2020, with over three-seventh of the total share.
This is attributed to the fact that polyethylene is one of the raw materials used for manufacturing breathable (micro-porous) films in the hygiene industry. In addition, it is used as barrier films for products such as baby diapers, adult incontinence, and surgical drapes.
Depending on technology, the global breathable films market is bifurcated into monolithic and micro-porous. The monolithic segment dominated the global market in terms of revenue in 2020, with over two-third of the total share. This is attributed to the fact that the monolithic breathable film exhibits significant properties such as high permeability, enhanced strength, superior vapor transmission, and resistance to bacteria & viruses, which make it suitable for a wide range of applications such as medical, personal hygiene, and construction.
On the basis of end use, the global market is segregated into hygiene & personal care, medical, packaging, construction, textile, and others. The hygiene & personal care segment dominated the global market in terms of revenue in 2020, with over one-third of the total share. This is attributed to the fact breathable films possess various properties such as robust, lightweight, high-to-low breathability levels, exceptional sticking ability, and enhanced vapor transmission, which make them suitable for hygiene & personal care sectors. The improving quality of life has increased the consumption of personal care products where breathable films are widely used for manufacturing disposable diapers, napkins, and other hygiene products with adjustable breathable properties.
Region wise, the breathable films market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific breathable films market size is projected to grow at the highest CAGR during the forecast period and accounted for 45.5% breathable films market share in 2020. Development of the food packaging and textile sectors notably contributed toward the growth of the breathable films in Asia-Pacific.
China has the largest food packaging sector in the world. Fueled by the rapid growth in domestic food consumption and consistent growth in the gross domestic product (GDP), the Chinese food packaging industry has grown significantly where breathable films are used for modified atmosphere packaging applications.
The key players operating in the global breathable films market include Mitsui Chemicals, Inc., Arkema, RKW Group, Skymark Packaging Ltd., Trioworld, SWM International, Berry Global Group, Nitto Denko Corporation, Covestro, and Fatra A.S.
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy across the globe. The catalysts market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on oil & gas, chemical manufacturing, polymer catalysis, automotive, and other sectors. According to a report published by the Energy and Economic Growth Survey, the oil & gas sector is among the hardest hit sector with an average contraction of −2.8% in 2020. In addition, more than 100 countries have locked their international borders for transportation and nonessential trade activities, which, in turn, has reduced the consumption of catalysts among the automotive sector. Furthermore, the temporary shutdown of oil refineries amid the COVID-19 period has led to demand–supply disruptions. For instance, according to a report published by the Indian Ministry of Petroleum & Natural Gas, the central public sector enterprise (CPSE) refineries has produced 7,103.76 thousand metric tons (TMT) of crude oil in April 2020 that is 28.91% lower than the target for the month and 36.93% lower than the production achieved in the corresponding month of 2019.
This has severely affected the demand for catalysts market among the oil refineries during the COVID-19 situation where catalysts are widely used for desulfurization, fluid catalytic cracking (FCC), and other applications. Also, several chemical manufacturing companies have either shut down or shrank their operations due to the risk of infections among the workforce where catalysts are widely used for chemical synthesis, hydroprocessing and other applications. This has temporarily hampered the demand for the catalysts market amid the COVID-19 period. In addition, the falling income of customers has led to a contraction in the sales of both light and heavy-duty vehicles, which, in turn, has decreased the demand for catalysts in the automotive sectors. For instance, according to a report published by Wipro, the sales of passenger cars saw a 30% decline in March 2020 as compared to March 2019, owing to lockdown and shutdown of auto plants. In addition, the travel restrictions imposed by governments of various countries have led the aerospace & aviation sectors to witness temporary downfall. Furthermore, COVID-19 has put a temporary brake on various aircraft manufacturing projects, which, in turn, has shrunk the demand for catalysts among the aerospace & aviation sector.
However, several key players are constantly engaged in widening their footprints and looking for new investment opportunities amid the COVID-19 situation. For instance, BASF SE invested in expanding the capacity of its mobile emission catalyst plant in Chennai, India. Moreover, BASF SE expanded its chemical catalyst recycling capacity and capability in Caldwell, Texas. These events are expected to enhance the performance of the catalysts market post-COVID-19 scenario.
Key findings of the study
- The polypropylene material type is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 8.7% from 2021 to 2030.
- The monolithic technology type is anticipated to register the highest CAGR of 8.6% during the forecast period.
- The medical end-use is estimated to display the highest growth rate of 9.1% from 2021 to 2030.
- Asia-Pacific garnered the highest share of 45.5% in 2020, in terms of revenue, growing at a CAGR of 9.1%