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(Health-NewsWire.Net, September 22, 2021 )
Market Overview
Heat transfer is a method of thermal engineering that concerns the generation, conversion, use and exchange of thermal energy between physical systems. Heat transfer is divided into various mechanisms, such as thermal convection, thermal radiation, thermal conduction and energy transfer by phase changes. Engineers also examine the transfer of mass of differing chemical species, either hot or cold, to achieve heat transfer. Moreover, technology and innovation are the driving forces that have changed the current lifestyle. New products are significantly developed to help ease life further. Heat transfer films are helping consumers survive unfavorable climatic conditions. Over the years, technology has modified the heat transfer films, which are now available in different types, with various features, to fulfill the demands. Some of the features of heat transfer films, such as effectiveness & efficiency, are driving the global heat transfer films market.
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Market Dynamics
The increasing inclination of consumers towards unique application of heat transfer film is triggering the demand for heat transfer film in recent times. Growing utilization film in various end-user creates a strong opportunity for the heat transfer film market growth.
Rising demand of heat transfer film in several industrial application is expected to increase the market size
The rising demand for heat transfer films in various industrial applications is primarily driving the market growth. In addition, the increasing demand for finished products with several resistance properties, including scrub, scratch, color, high temperature, and solvent resistance, along with the lower cost, supports the heat transfer film market. Along with these, the effectiveness & efficiency associated with the heat transfer films further support the market value. Additionally, the rapidly increasing packaging industry and the rising efforts to reduce the content of non-biodegradable materials in packaging are expected to create demand during the forecast period.
Growing utilization of heat transfer film in various end-user is expected to boost the market growth
The food & beverages industry is expected to create potential opportunities for heat transfer films during the forecast period. In addition, increasing adoption of heat transfer films from the automotive & personal care industries is expected to enhance the market growth due to increasingly adopting heat transfer printing on their sales promotion devices like point of purchase displays and banners. Increasing competition in the market has led to the growing sales promotional activity.
Moreover, the textile industry accounts for approximately over 95% of the heat transfer film market. Some of the other factors such as increasing demand for finished products, increasing usage in branding & promotional properties, the growing popularity of the high graphics and quality printed t-shirts among the population and increasing awareness about the advantages of heat transfer film will further accelerate the demand for the heat transfer film during the forecast period. Some of the other factors such as rising demand for finished products, increasing usage in branding & promotional properties, the growing popularity of the high graphics and quality printed t-shirts among the population and increasing awareness about the advantages of heat transfer film will further accelerate the demand for the heat transfer film during the forecast period.
Fluctuating cost of raw material and restriction on plastic is expected to hinder the market growth
However, fluctuating cost of raw material and restrictions on plastic material in some developed and developing economies is expected to hinder the growth to an extent during the forecast period. The pollution control boards across the globe are resisting companies from using plastic which are restraining companies from or forcing companies to go through stringent procedures to use plastic as a raw material for the film market.
The disruptions in supply and chain due to COVID and also in general the rising costs of logistics is creating price rise of the end product forcing companies to have a smaller margin.
Segment Analysis
By Type
Paper Film
Plastic Film
By Material
Polyurethane (PU) /PU Blends
PVC
By Substrate Material
Cotton
Polyester
By Product Type
Opaque
Clear
Glossy & Metallic
By End-User
Textile
Construction
Furniture/Wooden
Metal
Healthcare
Food & Beverages
Personal Care
Others
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Geographical Analysis
Based on the geography, the heat transfer film market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa. The demand for heat transfer film in the North American market is expected to remain at the dominant position in sales and value generation due to the growing volume of trade and e-commerce in countries such as the U.S.
APAC is expected to hold largest share of heat transfer film market during the forecast period
APAC metal market recorded a maximum share of demand for heat transfer films market. The vast population coupled with the increasing purchasing power of people in the region's major economies, including China, Japan and India, mainly support the regional market value. The major manufacturers are funding in the regional market due to the growing economic condition owing to the emerging industrial sectors is further supporting the regional market value. The heat transfer films market is anticipated to be driven by the development in the economy and the growth of end-user industries such as textile and construction. Australia exported USD 3,306.34 million worth of textiles in 2019, the most in the APAC region. India followed with USD 1,463.42 billion of textile exports in 2019. The biggest textile exporters in APAC in 2019 were Australia, Mongolia, India, China and New Zealand. India and China are expected to drive the heat transfer films market in the APAC region due to growing at an impressive CAGR of over 7%, followed by Europe, North America.
High demand for metal and increased textile applications drive the heat transfer films market in Europe and North America. In 2018, the value of the global home textiles market amounted to approx. USD 22.03 billion, and the value of this market was expected to rise to USD 29.76 billion by 2025.
Competitive Landscape
The heat transfer film market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. . Innovia Films, ARMOR SAS, V-Reflex Reflective Material Co. Ltd., DAE HA Co. LTD., Avery Dennison NTP AS, HEXIS S.A., POLI-TAPE Klebefolien GmbH, Hanrunpaper, Pro World Inc., MINSEO Coating Flex Co. Ltd. are the major player in the chemical market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the heat transfer film market globally.
Related Topic's
Heat Transfer Fluid Market, Thermal Transfer Tapes Market, Thermal Transfer Overprint Market, Thin Film Solar Cell Market, Thin-film Batteries Market
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
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