Pune, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The Latest Mylar Market Report by MMR offers insights into top business strategies, market segments, trends, and share analysis by region. The report also covers the growth analysis of leading key players in the Mylar Market.
As per Maximize Market Research, The Mylar Market Size was USD 10.23 billion in 2021 and is expected to reach USD 17.88 billion by 2029, exhibiting a CAGR of 7.23 % during the forecast period.
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Mylar Market Research Methodology:
"Mylar Market" report presents a comprehensive market overview, market shares, and growth opportunities by Application, End-use Industry and regions. The global market size and share for a given segment are estimated by using qualitative & quantitative Analysis. Mylar market market research report and other insights are carefully reviewed & examined by the senior research team to ensure that the research methodology and all information provided is accurate, analyst assumptions are carefully documented & conclusions are well-supported.
A bottom-up analysis is done by estimating potential sales to determine a total sales figure. The analysis of key competitors, including market leaders, followers, and new entrants, covers each aspect of the market. The Mylar Market size is estimated based on company revenues. Our analyst has also given profiling of some of the key players in the Mylar Market. For companies, where revenue information is not easily available, their contribution to the total market size is considered relatively modest. Primary research was carried out through emails, telephonic conversations, referrals, professional networks, and formal interactions to get accurate information about the market size, share, growth, and forecasts.
Global Mylar Market Overview
Mylar is used to make flexible packaging & covers for the food industry like yogurt lids, roasting bags & coffee foil pouches. It is used as an electrical & thermal insulator, reflective material, and decoration. It bids unique design abilities to the electrical industry because of its excellent balance of its electrical properties with its chemical, thermal & physical properties. Major players have minimal control over price determination in the film industry, as the industry is facing intense competition. The industry also lacks customer stickiness, as customers have many choices to select from many industry players. These factors are expected to be a negative impact on the profit margins.
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Global Mylar Market Dynamics
The growing popularity of high-barrier packaging solutions among consumers is driving demand for mylar packaging material. High demand for fast-food chains and hot-served food, coupled with effective packaging solutions that extend the shelf life of food products, are expected to drive plastic consumption. Consumer environmental consciousness, rapid urbanisation across developing economies, an improved lifestyle, and high spending on food and beverages are some of the major factors driving mylar market growth.
An increase in Focus on High Margin Packaging Business to Improve Return Ratios
Key players in the mylar market are focused on high-margin, low-investment packaging, which is expected to boost return ratios. Key companies are constantly adopting an innovative approach & developing niche products to increase revenue. Due to lack of new capacity and increased demand, capacity utilisation levels in the BoPET film industry are likely to increase. The equation between demand & supply in the mylar film industry is improving. Currently, capacity utilisation in the BoPET film industry is 70 percent, with signs of revenue growth.
High penetration of the mylar in the electronics sector
Mylar is now widely used in the electronics industry, contributing to the long-term applications. Mylar's major applications in the electronic industry include providing excellent insulation between bonding layers. Environmental protection, cost, & production speed are some of the driving factors behind the industry's ever-increasing use of mylar. Customized solutions based on a portfolio of products, applications, and services are expected to drive the growth of the mylar market. Some of the key players are focused their efforts on product innovation & technology development by forming new alliances with other key players.
Global Mylar Market segment Insights
Food packaging is one of the most common end-use industries for Mylar film. The material's high adhesion and strength help to protect packaged items from contaminants, moisture, and chemicals. It is also very popular in frozen foods because it can withstand extreme temperatures without losing any of its original form or properties. Mylar is a highly durable yet flexible material that is ideal for packing materials, electrical insulation, and solar technology. Many consumers are concerned about food security and are looking for effective methods of storing foods for long periods of time. Mylar bags are commonly used in the food storage industry for products that are sealed in plastic buckets. Mylar bags are an excellent method for long-term food storage.
Bags with a thickness greater than 5 mil are expected to protect food from light, moisture, and oxygen. Mylar offers advantages such as light protection, moisture protection, oxygen exclusion, and puncture resistance. The foil layers of mylar bags effectively eliminate light from the packaging, protecting the contents from light exposure. Mylar is a tough, strong material with greater puncture resistance than plastic or foil. Superior puncture resistance is expected to keep food fresher for longer by reducing the risk of tainted packaging. Mylar bags with thicknesses ranging from 5 mil to 7 mil are widely used for long-term storage.
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| Market Size in 2021 | USD 10.23 Bn. |
| Market Size in 2029 | USD 17.88 Bn. |
| CAGR | 7.23% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 213 |
| No. of Tables | 110 |
| No. of Charts and Figures | 112 |
| Segement Covered | Application, End-user |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Global Mylar Market Segmentation
By Application:
- Label
- Bags and Pouches
- Laminates
- Others
By End-use Industry
- Electrical and Electronics
- Food and Beverage
- Cosmetics and Personal Care
- Pharmaceuticals
- Others
Global Mylar Market Key Competitors:
- New Process Fibre Company, Inc.(US)
- Classic Acrylics (US)
- MCM Composites, LLC (US)
- CS Hyde Company (US)
- DuPont Teijin Films (US)
- Elmgrove Technologies (US)
- Flower Power Packages (US)
- Autronic Plastics, Inc. (US)
- Thermal Plastic Design, Inc. (US)
- Uline Company (US)
- Interstate Specialty Products (US)
- Grafix Plastics (US)
- IMPAK CORPORATION (US)
- Jarrett Industries (US)
- BCW Diversified, Inc.(US)
- Protective Packaging Corporation (US)
- Prairie State Group (US)
- Tekra Corporation (US)
- RH Nuttall (UK)
- Dsmart GmbH (Germany)
- J. SCHWARZ GMBH (Germany)
- Ganapathy Industries (India)
Key questions answered in the Global Mylar Market are:
- What are Global Mylar?
- What is the growth rate of the Global Mylar Market over the forecast period?
- What is the nature of competition in the Global Mylar industry in developed economies and developing economies?
- Who are the key players in the Global Mylar Market?
- Who are the market leaders in Global Mylar in Europe?
- Who are the market leaders in Global Mylar in USA and Canada?
- Who are the market leaders in Global Mylar in India, China, Japan, and South Korea?
- What are the factors affecting growth in the Global Mylar Market?
- Who held the largest market share in the Global Mylar Market?
- What are the factors for the growth of the Asia-Pacific region in the Global Mylar Market?
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Key Offerings:
- Market Share, market size, its growth rates & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by product, Needle Length, Therapy, and regions.
- Competitive Landscape – Top Key players and Other Prominent Vendors
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Confectionery Flexible Packaging Market: Confectionery Flexible Packaging Market was valued at US$2.85 Bn. in 2021. The global Confectionery Flexible Packaging Market size is estimated to grow at a CAGR of 5% over the forecast period. Confectionery Flexible Packaging Market is driven by increasing seals of e-commerce stores and the growing popularity of Confectionery Flexible Packaging.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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