Synopsis of Plastic Films Market
The Global Plastic Films Market is expected to witness a significant growth of USD ~ 146,813.87 million by 2023 with CAGR of ~5.4% between 2016 and 2023.
Plastic Film are printed or plain, transparent or colored, single or multilayered, plastic less than 10 mm thick, and combined with other materials such as paper and aluminum. Therefore, the only thing which a plastic film really has in common is flexible or springy in nature, as used in various application of packaging industry such as food packaging and non-food packaging industry. Furthermore, the majority of Plastic Films are produced from polyethylene resin. The four major key factor to driving the market of Plastic Films are consumer demand trends, sustainability, light-weighting, and bio plastics.
Furthermore, Plastic Films has found in various end user industry such as packaging, consumer goods, construction, pharmaceutical, electrical, and others. Increasing in demand of packaging industry is likely to drive the Plastic Films Market growth. On the other hand biodegradable films create new opportunity for the market growth of Global Plastic Films. APAC is fastest growing region among all the region due to growing industry such as packaging, consumer goods, and electrical, followed by North America region.
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Key players of the Global Plastic Films Market are Bemis Company, Inc. (U.S.), Amcor Limited (Australia), Jindal Poly Films Ltd. (India), Sealed Air Corporation (U.S.), E. I. du Pont de Nemours and Company (US), Garware Polyester Company (India), Vibac Group S.p.a. (US), Toray Industries Inc. (Japan), Polyplex Corporation Limited (India), Inteplast Group (US), and Others.
Asia Pacific is the largest market of Plastic Films due to demand in various end user industry such as packaging and consumer goods industry in China region followed by Japan and India. Increasing demand in consumer trend for packaging industry particularly, in India, Taiwan, and South Korea has made Asia Pacific largest consumer of the Global Plastic Films Market followed by increasing in the consumption of Plastic Films Market in North America region. The third largest market of Plastic Films is Europe. Latin America and Middle East also witnessed in growth of plastic films market due to various application such as packaging, consumer goods, construction, pharmaceutical, electrical, and others.
The Global Plastic Films Market is majorly segmented on the basis of technology, types, end users and region. Based on technology of Plastic Films the market is segmented into biodegradable films, nanocomposites, barrier polymer films, and water-soluble films. Based on types of plastic films the market is segmented into LLDPE, LDPE, HDPE, polypropylene films, PET films, PVC films, and others (polystyrene, polyamide, polyvinyl butyral, polyester). Based on end user the market segmented into packaging, consumer goods, construction, pharmaceutical, electrical, and others (agriculture, household), and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
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