Lucintel's latest market report analyzed that high-performance material provides attractive opportunities in the construction, automotive, electrical, and food & beverages applications. The high-performance material market is expected to reach $XX billion by 2028 with a CAGR of 9% to 11%. In this market, films is the largest segment by type, whereas construction is largest by application.
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Based on type, the high-performance material market is segmented into films, coatings, insulation, and others. The films segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to expanding use of films in a variety of applications due to their numerous advantages, and high-performance stretch films frequently outperform standard films when it comes to load containment. The films are meant to be much more puncture, cling, and tear-resistant than standard films.
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The High-Performance Material Market is marked by the presence of several big and small players. Some of the prominent players offering high-performance material include BASF, SEDuPont de Nemours Inc., Saint-Gobain S.A., Lonza Group, Covestro AG, Honeywell International Inc., Arkema S.A., Siemens AG, The Dow Chemical Company, and Lanxess AG.
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