INDUSTRY MARKET RESEARCH FOR BUSINESS LEADERS, STRATEGISTS, DECISION MAKERS CLICK TO VIEW

Table of Contents 2

List of Tables & Charts 3

Study Overview 4

Sample Text, Table & Chart 5

Sample Profile, Table & Forecast 6

Specialty Films

US Industry Study with Forecasts for 2017 & 2022

Study #3021 | May 2013 | $4900 | 269 pages

The Freedonia Group 767 Beta Drive www.freedoniagroup.com Cleveland, OH • 44143-2326 • USA Toll Free US Tel: 800.927.5900 or +1 440.684.9600 Fax: +1 440.646.0484 E-mail: [email protected] Study #3021 May 2013 Specialty Films $4900 269 Pages US Industry Study with Forecasts for 2017 & 2022

Table of Contents Polyimide Films...... 100 INDUSTRY STRUCTURE Bio-Based Polymer Films...... 101 Executive Summary Polyvinyl Chloride Films...... 103 General...... 169 All Other Specialty Films...... 104 Market Share...... 172 Market EnvironmenT Acquisitions & Divestitures...... 175 Cooperative Agreements...... 180 General...... 4 MARKETS Marketing & Distribution...... 181 Macroeconomic Overview...... 5 General...... 107 Research & Development...... 183 Demographic Trends...... 8 Packaging...... 109 Competitive Strategies...... 184 Consumer Spending Trends...... 12 Packaging Market Overview...... 110 Manufacturing Trends...... 15 Specialty Films Demand...... 112 Plastic Film Industry Overview...... 19 Company Profiles Meat, Poultry, & Seafood...... 114 Technological Developments...... 21 Snacks...... 118 AEP Industries...... 187 Raw Materials...... 25 Produce...... 120 Akzo Nobel...... 188 Pricing Trends...... 27 Other Food...... 122 Amcor Limited...... 190 Historical Market Trends...... 29 Pharmaceutical & Medical...... 123 Avery Dennison...... 192 Regulatory & Environmental Considerations.. 32 Other Nonfood...... 126 Bekaert (NV) SA...... 194 Foreign Trade...... 34 Personal Care Products...... 127 Bemis Company...... 196 International Activity...... 35 Disposable Hygiene Products Outlook..... 127 Berry Plastics...... 201 Specialty Films Demand...... 130 Cargill Incorporated...... 203 FUNCTIONS Electronics...... 132 Cereplast Incorporated...... 205 Electronic Components Cortec Corporation...... 206 General...... 37 Industry Overview...... 132 Dow Chemical...... 209 Barrier Films...... 39 Specialty Films Demand...... 133 DuPont (EI) de Nemours...... 210 Oxygen & Other Gas Barrier Films...... 41 Printed Circuits...... 135 Eastman Chemical...... 215 Moisture Barrier Films...... 44 Photovoltaic Modules...... 137 Evonik Industries...... 218 Corrosion Barrier Films...... 47 Displays...... 140 Exopack Holding...... 220 Other Barrier Films...... 49 Other Electronics...... 142 Griffon Corporation...... 223 Microporous Films...... 50 Transportation Equipment...... 144 Honeywell International...... 225 Safety & Security Films...... 53 Transportation Equipment Hood Companies...... 227 Interlayer Products...... 55 Industry Overview...... 144 Innovia Films...... 228 Surface Products...... 57 Specialty Films Demand...... 147 Inteplast Group...... 229 Conductive & Insulative Films...... 60 Automotive...... 148 Kaneka Corporation...... 230 Light Control Films...... 63 Aerospace & Other Transportation...... 150 Klöckner Pentaplast...... 232 Biodegradable Films...... 66 Construction...... 152 Kuraray Company...... 234 Water Soluble Films...... 69 Construction Industry Outlook...... 152 Lintec Corporation...... 237 Other Functions...... 72 Specialty Films Demand...... 155 Mitsubishi Chemical...... 240 Windows...... 157 Pregis Corporation...... 242 RESINS Safety & Security Films...... 159 Printpack Incorporated...... 243 Light Control Films...... 161 Raven Industries...... 245 General...... 75 Vapor Barriers...... 162 Saint-Gobain...... 247 Polyolefins...... 77 Other Construction...... 163 Saudi Basic Industries...... 250 Polyester Films...... 80 Other Markets...... 164 Sealed Air...... 253 Polyethylene Terephthalate Films...... 82 Health & Medical Products...... 165 Sigma Plastics...... 255 Other Polyester Films...... 84 Bags...... 166 Taghleef Industries...... 258 Nylon Films...... 86 All Other Markets...... 167 3M Company...... 259 Polyvinyl Butyral Films...... 88 Toray Industries...... 263 Ethylene Vinyl Alcohol Films...... 90 Tredegar Corporation...... 265 Fluoropolymer Films...... 93 Other Companies Mentioned in the Study... 267 Polyvinylidene Chloride Films...... 97 Other Resins...... 99

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List of Tables 8 Specialty Polyvinylidene Chloride 26 Other Construction Market Films Demand...... 99 for Specialty Films...... 164 Executive Summary 9 Other Specialty Films 27 Other Markets for Specialty Films...... 165 1 Summary Table...... 3 Demand by Resin...... 100 INDUSTRY STRUCTURE MARKETS Market EnvironmenT 1 US Specialty Film Sales 1 Macroeconomic Indicators...... 8 1 Specialty Films Demand by Market...... 108 by Company, 2012...... 170 2 Population & Households...... 12 2 Packaging Supply & Demand...... 112 2 Selected Acquisitions & Divestitures... 179 3 Personal Consumption Expenditures...... 15 3 Packaging Markets for 3 Selected Cooperative Agreements...... 181 4 Manufacturers’ Shipments...... 19 Specialty Films...... 113 5 Plastic Films Demand...... 21 4 Meat, Poultry, & Seafood Packaging 6 Specialty Films Raw Material Demand.... 27 Market for Specialty Films...... 118 7 Specialty Films Market, 2002-2012...... 31 5 Snack Packaging Market List of Charts for Specialty Films...... 120 FUNCTIONS 6 Produce Packaging Market for Specialty Films...... 122 MARKET ENVIRONMENT 1 Specialty Films Demand by Function..... 38 7 Other Food Packaging Market 2 Barrier Films Demand...... 41 for Specialty Films...... 123 1 Specialty Films Market, 2002-2012...... 32 3 Oxygen & Other Gas Barrier 8 Pharmaceutical & Medical Packaging Films Demand...... 44 Market for Specialty Films...... 125 FUNCTIONS 4 Moisture Barrier Films Demand...... 46 9 Other Nonfood Packaging Market 5 Corrosion Barrier Films Demand...... 48 for Specialty Films...... 127 1 Specialty Films Demand 6 Other Barrier Films Demand...... 50 10 Disposable Hygiene Product Sales...... 129 by Function, 2012...... 39 7 Microporous Films Demand...... 53 11 Personal Care Products Market 8 Safety & Security Films Demand...... 55 for Specialty Films...... 132 RESINS 9 Interlayer Safety & Security 12 Electronic Components Shipments...... 133 Films Demand...... 57 13 Electronics Market for Specialty Films 135 1 Specialty Films Demand 10 Surface Safety & Security 14 Printed Circuit Board Market by Resin, 2012...... 77 for Specialty Films...... 137 Films Demand...... 59 MARKETS 11 Conductive & Insulative 15 Photovoltaic Module Market Films Demand...... 63 for Specialty Films...... 140 1 Specialty Films Demand 12 Light Control Films Demand...... 66 16 Display Market for Specialty Films...... 142 by Market, 2012...... 109 13 Biodegradable Films Demand...... 69 17 Other Electronics Market 14 Water Soluble Films Demand...... 72 for Specialty Films...... 144 INDUSTRY STRUCTURE 15 Other Specialty Films Demand 18 Transportation Equipment Shipments.. 147 by Function...... 74 19 Transportation Market 1 Specialty Films Market Share, 2012..... 173 for Specialty Films...... 148 RESINS 20 Automotive Market for Specialty Films...... 150 1 Specialty Films Demand by Resin...... 76 21 Aerospace & Other Transportation 2 Specialty Polyolefin Films Demand...... 80 Market for Specialty Films...... 152 3 Specialty Polyester Films Demand...... 82 22 Construction Expenditures...... 155 4 Specialty Nylon Films Demand...... 88 23 Construction Market 5 Specialty Polyvinyl Butyral for Specialty Films...... 157 Films Demand...... 90 24 Window Market for Specialty Films...... 159 6 Specialty Ethylene Vinyl Alcohol 25 Vapor Barrier Market Films Demand...... 93 for Specialty Films...... 163 7 Specialty Fluoropolymer Films Demand.. 97

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Gains will be driven by the increasing need for high-performance plastic films that offer barrier properties, mechanical strength, and chemical resistance in packaging applications.

US demand to rise 5.2% annually through 2017 US Specialty Films Demand, 2017 Packaging ($8 billion) US demand for specialty films is forecast to advance 5.2 percent per year to $8.0 billion in 2017. Gains will be driven by the increasing need for high-perfor- mance plastic films that offer barrier properties, mechanical strength, and chemical resistance in packaging applications. Increasing use in small, but high-growth market areas, such as photovoltaic modules and biodegradable packaging, will also bolster advances, as Personal Care will a rebound in the construction market. Products Electronics Barrier films to remain Other Markets key in packaging market Packaging is the largest market for specialty films, accounting for two-thirds of overall demand. Growth in the domi- A rebound in building construction will Biodegradable, water sol- nant barrier film segment will be driven benefit safety and security films, as by the rapid rise in the use of vacuum double-digit annual growth in both uble films to grow fastest packaging, oxygen scavenging, and low- residential and nonresidential building The most rapid growth in specialty films, oxygen case-ready technologies in meat spending will boost demand for films albeit from a small base, will occur in packaging, as these technologies utilize used in windows for safety and security biodegradable and water soluble films, high-barrier films to maintain an optimum as well as light control. While the use of which will benefit as the technologies atmosphere inside the package. Meat interlayer films in laminated motor improve and new applications are packaging opportunities will spur ad- vehicle glass is mature and offers limited developed. Demand for biodegradable vances for films produced from ethylene opportunities for growth, better prospects films, which are used to produce com- vinyl alcohol, nylon, and polyvinylidene are expected for safety and security films postable packaging and bags for organic chloride resins. Demand for barrier films used in buildings. Light control films will waste, will benefit from environmental will also benefit from the increased use also benefit from the rebound in con- concerns and the increased commercial- of specialty barrier films in pharmaceuti- struction activity as both residential and ization of bio-based polymers. Water cal blister packaging applications, commercial customers seek to reduce soluble film demand will receive a boost particularly fluoropolymer and nylon films energy costs. Demand for light control from the introduction of pharmaceutical in multilayer constructions. Additionally, films will be further boosted by emerging and health products in dissolvable thin improved metallized films are replacing applications in the fast-growing photovol- film form, as well as the introduction of film/foil and film/paper laminates in taic market and continuing usage in edible, water soluble food packaging. barrier packaging applications. motor vehicle windows. Copyright 2013 The Freedonia Group, Inc.

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Sample Text, TABLE V-3 Table & Chart PACKAGING MARKETS FOR SPECIALTY FILMS (million dollars)

Item 2002 2007 2012 2017 2022

Packaging Shipments (bil $) 101.5 125.3 132.0 152.5 175.0 $ films/000$ pkg 22.6 26.8 31.6 35.3 36.5

functions Specialty Packaging Films Demand 2289 3359 4175 5379 6395 By Segment: Corrosion Barrier Films Food Packaging 1596 2361 2920 3750 4430 Demand for corrosion barrier specialty films is forecast to increase Meat, Poultry, & Seafood 810 1190 1505 1920 2245 3.6 percent annually to $280 million in 2017, an acceleration from the Snacks 545 800 975 1265 1510 2007-2012 performance but trailing the barrier film average. Corro - Produce 100 s 155 am 190 ple 245 290 sion barriersam filmsple include volatile corrosion inhibitor (VCI) chemicals Other Food 141 216 250 320 385 or scavengers for corrosive gases. These films are used to protect metal Nonfood Packaging 693 998 ta 1255 ble 1629 1965 productste duringxt shipping and storage from damage caused by exposure Pharmaceutical & Medical 450 645 830 1095 1320 to atmospheric gases and compounds such as chlorine, sulfur, oxygen, Other Nonfood 243 353 425 534 645 and nitrous oxide. Gains will reflect an acceleration in the primary metalBy Function: product market, which is the leading consumer of corrosion barrier films. Barrier Films 2141 3132 3891 4979 5898 However, growth will be constrained by the increasing use of plastics Microporous Films 82 124 147 195 225 in lieu of metal products. Suppliers of VCI packaging include Armor Other Products 66 103 137 205 272 Protective Packaging, Cortec, Daubert Industries, and Northern Tech - nologies International. % packaging 61.4 64.3 67.3 67.2 66.9 Specialty Films Demand 3729 5228 6200 8000 9560 Corrosion inhibitor films accounted for nearly three-quarters of corrosion barrier films in 2012. These films are impregnated with compounds that contain molecules that form a protective layer on metal surfaces by vaporizing from the film or paper at very low concentra- tions. When exposed to metal, the molecules are attracted to the charged surfaces of the metal and form a barrier to prevent oxidation, thereby protecting goods from corrosion. Products packaged with corrosion inhibitor films do not require additional cleaning when ready for use.

Gains in corrosion scavenger film will improve from the perform- ance of the 2007-2012 period based on a recovery in manufacturing activity from a depressed base due to the 2007-2009 recession. In addi- CHART VI-1 tion, advances will outpace those for corrosion inhibitor films as a result of inroads into typical VCI packaging applications due to environmental SPECIALTY FILMS MARKET SHARE and efficiency advantages achieved through eliminating the use and ($6.2 billion, 2012) removal of preservation oils. Leading markets for corrosion control scavenger packaging include primary metal products, military products, 14.5% B em is 106 Copyright 2013 The Freedonia Group, Inc.

10.5% D u Po n t M a rke t O th e rs L e a ds e rams ple 4 5 .6 % 5 4 .4 % 9.7% Sealed Air

chart 6.8% So lu tia 3.4% H o n eywell 3.3% G riffo n 3.2% D o w C h em 3.0% K u raray

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Sample Profile, TABLE IV-2 Table & Forecast SPECIALTY POLYOLEFIN FILMS DEMAND (million dollars)

Item 2002 2007 2012 2017 2022

Packaging Shipments (bil $) 101.5 125.3 132.0 152.5 175.0 $ films/000$ pkg 19.4 23.2 26.1 28.8 29.7

Specialty Polyolefin Films Demand 1965 2905 3440 4385 5190 By Function: Barrier Films 1370 2078 sam 2472 ple 3187 3796 Microporous Films 518 723 845 1020 1165 Other Specialty Films 77 104 table 123 178 229 By Resin: Polypropylene 1300 1875 2405 3145 3815 COMPANY PROFILES Polyethylene & Other Resins 665 1030 1035 1240 1375

% polyolefins 52.7 55.6 55.5 54.8 54.3 Raven Industries Incorporated Specialty Films Demand 3729 5228 6200 8000 9560 205 East 6th Street Sioux Falls, SD 57117 605-336-2750 http://www.ravenind.com

Sales: $406 million (FY 2013) Employment: 1,380 (FYsam 2013)ple Key Products: geomembranes;profile gas barrier construction films; and in- dustrial films made from ethylene vinyl alcohol, ethylene vinyl alcohol, metallocene based resins, and other materials “Specialty films are used in barrier

Raven Industries makes reinforced plastic sheeting, electronic functions to produce lightweight precision agriculture products, electronics manufacturing services, and packages that protect the contents specialty aerostats and sewn products. The Company operates through from air, light, and moisture. Gains three segments: Engineered Films, Applied Technology, and Aerostar. will be driven by rising snack food The Company participates in the US specialty films industry shipments along with the trend through the Engineered Films segment, which had sales of $142 toward more individually wrapped million and employed 240 in FY 2013. The Engineered Films segment, products and expanded offerings which operates via the Raven Engineered Films division (Sioux Falls, of snacks in single-serving sizes South Dakota), is engaged in the manufacture of specialty film products for geosynthetic, construction, industrial, and other applications. for increased convenience and portability as well as portion The division’s specialty film products for the geosynthetic market control. Additionally, the rising ...” consist of geomembranes used as liners and covers in pond, landfill --Section V, pg. 119 cap, canal lining, irrigation reservoir, secondary containment, and other applications. Raven Engineered Films’ geomembranes are available through the ABSOLUTE BARRIER, CANVEX, DURA-SKRIM, and RUFCO product lines. For example, ABSOLUTE BARRIER products are seven layer coextruded geomembranes made from flexible, linear

Copyright 2013 The Freedonia Group, Inc. 245

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