Plastic Films Market is expected to grow at ~5.4% CAGR during 2016-2023

Plastic Films Market
Global Plastic Films Market Information- by Technology (Biodegradable Films, Nanocomposites, Barrier Polymer Films, and Water-Soluble Films), by Type (LLDPE, LDPE, HDPE, Polypropylene Films, PET Films, PVC Films, and Others), by End User Industry (Packaging, Consumer Goods, Construction, Pharmaceutical, Electrical, and Others) and by Region – Forecast till 2023

Market Research Future (MRFR) Announces the Publication of its Research Report – Global Plastic Films Market 2016-2023

Market Research Future (MRFR) recognizes the following companies as the key players in the Global Plastic Films Market: 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.

Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global Plastic Films Market size is expected to grow at USD ~146,813.87 million by 2023.

Plastic Films are high-performance materials which gives an important part in modern life. The plastics films industry uses modern concepts in manufacturing processes and is continuously seeking out new technologies to improve its performance such as biodegradable films, nanocomposites, barrier polymer films, water-soluble films.

LLDPE, LDPE, HDPE, polypropylene Films, PET films, PVC films, and others Plastic Films are the most common materials used in packaging. Each of them have different characteristics such as resistance to oxygen, stiffness, low softening temperature, and vapor resistance which makes ideal choice for the packaging and agriculture industry. The major driving factors of Plastic Films Market are growing demand from packaging industry In addition, the increasing demand from the packaging, consumer goods, pharmaceutical is expected to fuel market growth of Plastic Films in near future.

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Segment Analysis:

The Global Plastic Films Market has been segmented into technology, types, and end user industries. On the basis of technology, the market has been divided into biodegradable films, nanocomposites, barrier polymer films, water-soluble films. Among all these technology increased usage of the environment-friendly biodegradable films in agriculture paves a way for growth in the plastic films & sheets market in the emerging economies. The biodegradable Plastic Films Market was $4 billion in 2012 and will continue to grow between 2017 and 2023, but further improvements in manufacturing processes and cost reduction will be required before biodegradable plastic films can become majority of the market. Whereas, nanocomposites Plastic Films which is fully approved for multilayer applications for all types of foods under FDA’s now highly used in food packaging application. Barrier polymer plastic films mainly used in in packaging, construction, and agriculture industry. Water-soluble plastic films can increase safety and convenience in several working environments, capsules, detergents, agricultural, chemicals, and water pressure transfer printing. Generally, it is used in packaging, fertilizers, agrochemicals, and seed tape.

On the basis of type, the market has been divided into LLDPE, LDPE, HDPE, polypropylene films, PET films, PVC films, and others (polystyrene, polyamide, polyvinyl butyral, polyester). Among all these types linear low-density polyethylene (LLDPE) plastic film highly used in food and packaging industry due to its clarity, moderate stretch & good strength features. In food packaging industry LDPE accounts for 65%, and LLDPE accounts for 25%, whereas in non-food packaging industry LDPE accounts for 59%, and LLDPE accounts for 35%.

Regional Analysis:

On the basis of region Plastic Film Market is segmented into North America, Europe, APAC, Latin America, and Middle East & Africa. APAC region Plastic Films Market is expected to see strong growth during the forecast period primarily due to increasing in demand of packaging industry in countries such as China, India, Japan, and Indonesia.

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APAC is expected to have the highest growth among all the other regions in the forecast period. APAC is expected to witness an increase in demand for plastic stretch and shrink films from the packaging and manufacturing industries. The region is perceiving an evolution from rigid packaging to flexible packaging. China is the leading country for plastic film market in APAC, followed by India. However, there is also a huge demand for agriculture plastic films in APAC because of the occurrence of highly cultivated areas, including India, Myanmar, and Vietnam. Major agricultural film customers are spread across the whole farm produce value chain, from crop growers to processors and retailers from the agricultural and horticultural sectors. The Global Plastic Films Market by polyethylene was valued approx. US$ 69.0 billion in 2016. The polyethylene segment is forecast to experience the moderate growth during the forecast period. Consumers are demanding various types of packaging, and with the increased consumption of food & beverage products, household care products, and demand for plastic as a packaging material is driving the Global Polyethylene Film Market. Polyethylene Plastic Films is used in the production of different types of plastics bags & films, which are further used in consumer and industrial purposes. It is used for packaging food and non-food items such as personal care and healthcare products because they are high stretchy and is flexible due to this characteristics, polyethylene is considered to be an ideal material for the packaging industry particularly, in APAC region. 

On the other hand North America holds the second position in Global Plastic Films Market. North America polyvinyl chloride films market is expected to reach USD 3.0 billion by 2023, the regional polyvinyl chloride films market is characterized by increasing regulatory & legislative intervention particularly in the U.S. and Canada for food packaging applications. US demand for biodegradable plastic will grow 16% annually through 2016. Favorable regulatory environment in Mexico compared to the U.S. & Canada is expected to develop the regional industry over the forecast period.

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