Decorative Films Foils Market: Recent Trends And Developments, Key Business Strategies And Forecast 2031

Persistence Market Research has projected the global decorative films and foils market to grow at a CAGR of over 5% during the forecast period 2021-2031.

The furniture and door&window industries have a large share, accounting for nearly three quarters of the consumption of decorative films and foils. Other applications include floor coverings, automotive interiors and exteriors. Decorative films and foils are popular in many regions, not only for their aesthetic appeal, but also because they can reduce the need for lighting by more than 50 %.

Key Takeaways from Decorative Films and Foils Market Study
• Polyvinyl chloride (PVC) accounted for more than 45% of the global decorative films and sheets market and this trend is expected to continue over the forecast period.
• Furniture is the most attractive use, with a share of over 40 per cent, followed by windows and doors. However, flooring is expected to grow faster than all other uses.
• China dominates the global decorative films and foils market and is expected to register the highest growth rate due to increasing construction activity. Europe holds a significant share due to high demand from the furniture industry, especially in Germany.
• Energy efficiency and benefits due to the physical properties of decorative window films are some of the key 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.

Market Landscape Continues to Remain Fairly Fragmented
The global decorative films and foils market is segmented into global and regional levels. Some of the key players profiled in this report include LG HAUSYS, Ltd, LLC, OMNOVA Solutions, Inc. Group, Folienwerk Wolfen GmbH, Mondoplastico S.p.A., RENOLIT, AVI Global Plast Pvt. Ltd. and others. To gain a competitive edge in the market, players are engaging in expansion, merger, and acquisition activities in the rapidly growing market.

Demand for decorative films and foils is expected to grow moderately, driven by increased consumption for furniture. Among other applications, fenestration is expected to grow at a high rate. Asia and Europe are expected to account for the major share, followed by North America. China, Germany, the US, India, and South Korea are the major suppliers of decorative films and foils. Overall, the market is highly competitive, with a large number of small and medium-sized enterprises in every region.