Polyester Film Market Size, Share, and Trends 2024 to 2033

Polyester Film Market Size and Companies

The global polyester film market size was valued at USD 33.06 billion in 2023 and is anticipated to reach around USD 60.50 billion by 2033, growing at a CAGR of 6.23% from 2024 to 2033.

Polyester Film Market Key Takeaways

• Asia Pacific led the polyester film market with the largest market size in 2023.
• North America is expected to witness the fastest growth in the market during the forecast period.
• By type, the biaxially oriented polyester film segment dominated the market in 2023.
• By product, the <50 microns segment dominated the market in 2023.
• By application, the packaging segment held the dominant share in 2023.
• By end-user, the electronic and electrical segment is expected to witness a significant rate of growth during the forecast period. 

Polyester Film Market Size in Asia Pacific 2024 to 2033

The Asia Pacific polyester film market size reached USD 12.56 billion in 2023 and is expected to be worth around USD 23.29 billion by 2033 at a CAGR of 6.36% from 2024 to 2033.

Asia Pacific led the polyester film market with the largest market share in 2023. The growth of the region is attributed to the rising industrialization and urbanization in the economically developing countries such as India, China, and Japan that are driving the demand for the polyester films in the various industrial applications, such as packaging, insulation of the electronic components, and others.

• The flexible film manufacturing capacity of India has increased by 45% in the last 5 years and as per the placed orders it is expected to increase by 20% in 2024 to 2025.

Moreover, the rising investment by the private and public investors in the upgradation of industries and the expanding requirement of consumer goods are observed to promote the market’s expansion in the region. Furthermore, the rapid expansion of online food delivery sector is observed to help the polyester film market to grow.

• The India’s real GDP growth for the FY ending 31 March 2024 will increase by 6%. The growth of the packaging industry will match the GDP in terms of volume and surpass it by minimum 3% in terms of the inflation in raw materials, energy, capital equipment, and capitals.

The availability of abundant raw material along with the presence of low-cost laborers in the region, the manufacturing activities have become more potential in recent years. This factor is observed to support the market’s expansion in the upcoming period. Manufacturers' potential for product innovation and development onwards creates a supportive factor for the industry to boost in the region.

North America is expected to witness the fastest growth in the polyester film market during the forecast period. The growth of the region is attributed to the well-established commercialization and industrialization in the region. The rising demand for the food and beverage, and FMCG industry creates the higher demand for the efficient packaging which driving the demand for the polyester film market. The presence of major manufacturing firms and the rising investments in research and development activities in the development and innovatory products are collectively contributing to the expansion of the polyester film market in the region.

Polyester Film Market Size in North America 2023 to 2033

The North America polyester film market size was calculated at USD 9.92 billion in 2023 and is projected to expand around USD 18.45 billion by 2033, poised to grow at a CAGR of 6.40% from 2024 to 2033.

Polyester Film Market Overview

The polyester film market revolves around the production, innovation and distribution of materials based on polyester films for multiple industry applications. Polyester has exceptional properties like physical, optical, chemical, and thermal that can be used in various end-use applications. Polyester films are observed to be ideal in balancing dimensional stability, and it regains its properties in the extreme temperature.

Polyester films are available in different grades which can be used in the different applications. These are the transparent layer of film which is used in the several applications such as flexible packaging, labels, touch pads, control panels, and membrane switch outlays, nameplates, industrial laminates, electrical insulation, face shields, and others.

The increasing demand for the effective and convenient solutions in packaging are driving the demand for the polyester films, and the demand for the polyester fiber from the construction, textiles, consumer electronic, and manufacturing industries are further propelling the growth of the polyester film market.

Polyester Film Market Growth Factors

• The rising demand for polyester films in the various end-use industries due to its durability, strength, and higher resistance towards temperature are driving the growth of the market.
• The rising FMCG (fast moving consumer goods) industries and the increasing demand for efficient packaging material for packing goods are driving the expansion of the polyester film market.
• The rising demand for consumer electronic appliances is expanding the demand for polyester films which is observed to promote the market’s expansion.
• The technological advancements in the manufacturing process of polyester films is observed to act as a major growth factor for the same.
• The rising investments in research and development activities bring innovations in polyester fibers that is driving the growth of the polyester films market.

Polyester Film Market Scope

Polyester Film Market Dynamics

Driver: Increasing demand for the consumer goods

The increasing demand for polyester films in the fast-moving consumer goods industries is driving the growth of the market. The rise in urbanization and the increasing disposable incomes among the population are driving the demand for consumer goods, especially in developing countries. The significant rise in the packaging standards is driving the demand for polyester films. The advancements in ultraviolet-protected polyester films in the packaging industry are also driving the expansion of the market. Polyester films have higher temperature resistance and reduced level of contamination, which becomes an ideal solution for the packaging industry. Polyster films have higher durability, and shelf-life that also contributes to the growth of the polyester film market.

Restraint: Availability of the alternatives

Polyester films face competition from various alternative materials such as polypropylene, polyethylene, and biodegradable films. These alternatives may offer similar properties or even advantages in certain applications, such as improved flexibility, barrier properties, or environmental sustainability. As a result, customers may opt for alternative materials based on their specific requirements and preferences, leading to reduced demand for polyester films. Customers often consider factors such as cost-effectiveness and price competitiveness when choosing materials for their applications. If alternative materials are available at lower prices or offer better value for money, customers may switch away from polyester films, particularly in price-sensitive markets or industries.

Opportunity: Rising demand for the sustainable packaging material

The increasing demand for sustainable packaging materials due to the rising concern over the environment across the globe are observed to promote the expansion of the polyester film market. Polyester films have properties like higher strength, durability, lightweight nature, recyclability that meet the demand for the environmental concern. The rise in the demand for polyester film in the various end-use industries such as construction, fibers, electronics, consumer goods, and others are further propelling the growth of the market.

Type Insights

The biaxially oriented polyester film segment dominated the polyester film market in 2023. The growth of the segment is attributed due to the higher demand for the biaxially oriented polyester film by the various end-use industries such as packaging, construction, manufacturing, fabrics, and other that driving the expansion of the segment. The biaxially oriented polyester films come in different thickness and varieties, the properties and thickness which make them ideal use of the different industries and applications. Biaxially oriented polyester films offer resistance to oil and grease, this property offers an effective application of these polyester films into multiple industrial applications.

Product Insights

The <50 microns segment dominated the polyester film market with the highest market share in 2023. The growth of the segment is attributed to the rising adoption of the <50 microns polyester films in the electronics as an insulation medium. The <50 microns are used in the electrical applications such as wires, cable overwraps, membrane touch switches, transformers, and flexible printed circuit boards.

The increase in the use of <50 microns in the electrical applications due to its beneficial properties like higher temperature resistance, excellent mechanisms, machinability, and dimensionally stable at higher temperature. The <50 microns polyester films help in increasing the production value and reduces the cost of the operations that result in the higher profitability in the manufacturing. Thus, is rising demand for the <50 microns polyester films by the electronics and other electric based industries are driving the growth of the segment.

Application Insights

The packaging segment held the largest share of the polyester film market in 2023. The rising demand for the consumer goods along with the expansion of food and beverage industry across the glove has boosted the demand for effective packaging solutions, this factor is observed to sustain as a potential one to promote the segment’s expansion in the upcoming years. Polyester films serve beneficial properties in the packaging of food and beverages products which makes their shelf-life longer.

Polyester films have higher resistance over the temperature, strength, and durability makes it spill proof and less prone to get damage by accidents which expands the adoption of polyester film in the packaging industry. Additionally, the rising demand for consumer goods due to the shift in lifestyle is driving the demand for efficient packaging material which also propels the growth of the segment.

The imaging segment is observed to grow at a significant rate during the forecast period in the polyester film market. The rapid adoption of polyester films from the healthcare industry has supported the segment to expand. Polyester films are generally used in medical imaging technologies such as MRI, CT scans and X-rays. They are observed to offer high resolution surface for clear visualization of medical abnormalities through medical images. The versatility of polyester films again creates a potential application in the healthcare sector thereby, expanding its presence in the industry.

End-user Insights

The electronic and electrical segment is expected to witness a significant rate of growth during the forecast period. The higher adoption of the polyester films in the manufacturing of the electronic components like electric boards, transformers, circuits, stability in high voltage, abrasion, and resistance to the fluctuating temperature is driving the growth of the segment. Polyester films have excellent mechanical properties and durability along with resistivity that increases the lifespan of the electrical components. These films are lightweight in nature that make it ideal material in various applications like automotive manufacturing which are evolving in the manufacturing of lightweight, environment friendly, and more efficient in use which boosts the growth of the market.

Polyester Film Market Recent Development

• In April 2024, UFlex, leading multinational flexible packaging materials and solution organization launched the FLEXPETTM F-PGB-12, a super Barrier Polyester Film. The launch is a 12µ bi-axially oriented polyethylene terephthalate (BOPET) film offers a high barrier to oxygen on one side due to the specialized modifies treatment.
• In April 2024, UFlex, a largest multinational flexible packaging materials and solution organization in India announced the milestone in its journey of innovation and expansion with the launch of its commercial production poly-condensed polyester chips in the Panipat manufacturing unit in India.

Polyester Film Market Companies

• Sumilon Polyester Ltd.
• SRF Limited
• Polyplex
• Polinas Corporate
• Zhejiang cifu group
• Mitsubishi Polyester Film, Inc.
• Toray Plastics (America) Inc.
• Cosmo Films Ltd.
• UFlex Ltd.
• Impak Films US LLC.
• Ester Industries Ltd.
• Jindal Poly Films

Segments Covered in the Report

By Type

• Biaxially Oriented Polyester Film
• Bubbled Extruded 

By Product

• <50 Microns
• 15-30 Microns
• 30-60 Microns
• >60 Microns

By Application

• Packaging
• Laminating
• Imaging 

By End-User

• Electrical And Electronics
• Food And Beverages
• Pharmaceuticals
• Cosmetics
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa