NEW YORK, Jan. 29, 2021 /PRNewswire/ -- Furniture and door & window applications hold a prominent share nearly three-fourth in terms of consumption of decorative films and foils. These also used in a wide range of applications, including flooring and automotive interiors & exteriors. Besides aesthetics, the ability of decorative films and foils to reduce lighting needs by over 50% makes them highly sought-after across regions.
As per Persistence Market Research analysis, the global decorative films and foils market is anticipated to expand at a CAGR of over 5% over the forecast period of 2021-2031.
Key Takeaways from Decorative Films and Foils Market Study
- Polyvinyl chloride accounts for a prominent share of over 45% in the global decorative films and foils market, and this trend is expected continue over forecast period.
- Furniture is the most attractive application with the highest share of over 40%, followed by doors & windows. However, flooring is expected to grow at a higher rate as compared to all other applications.
- China dominates the global decorative films and foils landscape, and the market in this country is expected to grow at the highest rate, owing to increasing construction activities. Europe holds a significant share, backed by high demand from the furniture sector, especially in Germany.
- Energy efficiency and benefits due to the physical properties of decorative window films are some of the prominent market drivers.
- The market in China is slated to expand at an impressive CAGR of over 6% through 2031, while that of the U.K. and U.S. is expected to witness 5.7% and 5.1% growth, respectively.
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"Owing to COVID-19 pandemic, the market witnessed negative growth of -1.7 in 2020, due to plummeting demand from end-use industries. However, as things open up, the market is set to expand at over 5% CAGR in 2021, and continue this growth trajectory through 2031," says a Persistence Market Research analyst.
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Market Landscape Continues to Remain Fairly Fragmented
The global decorative films and foils market is fragmented at global and regional levels. Some leading players included in the report are LG HAUSYS, Ltd, LLC, OMNOVA Solutions, Inc., ERGIS S.A., AVERY DENNISON CORPORATION, JINDAL POLY FILMS Ltd., Klöckner Pentaplast Group, Folienwerk Wolfen GmbH, Mondoplastico S.p.A., RENOLIT, AVI Global Plast Pvt. Ltd., and others. To gain a competitive advantage in the market, participants are involved in expansion, merger, and acquisition activities with regards to high market growth.
Decorative Films and Foils Market: Conclusion
Demand for decorative films and foils is expected to grow at a moderate rate, owing to its increasing consumption in furniture applications. Doors & window applications are expected to grow at a high rate amongst all other applications. Asia and Europe are expected to hold prominent shares, followed by North America. China, Germany, USA, India, and South Korea are major locations for the supply of decorative films and foils. Overall, this market is highly competitive with a large number of small- and medium-sized players at regional levels.
Want to Know More?
Persistence Market Research has published a market research report on the decorative films and foils market that contains global industry analysis of 2016-2020 and opportunity assessment for 2021-2031. The report provides in-depth analysis of the market through different segments, namely material, application, end use, and region. The report also provides supply and demand trends, along with an overview of the parent market.
Browse Research Release at: https://www.persistencemarketresearch.com/market-research/decorative-films-foils-market.asp
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