Plastic Films Market Growth, Share, Size, COVID-19 Impact, Developments and Forecast 2023

Plastic Films Market Growth, Share, Size, COVID-19 Impact, Developments and Forecast 2023

Increasing Use to Pack E-Commerce Orders during COVID-19 Pandemic to Positively Impact Plastic Films Market Growth
Plastic Films Market: Information By Technology (Blown Film Technology, Cast Film Technology, Double & Multi-bubble Technology, Barrier Film and Others), Material Type (LLDPE, LDPE, HDPE, Polypropylene, PET and others), Application (Packaging Consumer Goods, Agriculture, Construction and Others) and Region (Asia-Pacific, Europe, North America, Latin America and the Middle East & Africa) – Forecast till 2023

Market Analysis:

Global Plastic Films Market is predicted to reach USD 163.08 billion at a healthy 5.4% CAGR between 2019- 2025, as per the latest analysis by Market Research Future (MRFR). Plastic Films, simply put, are plastic solids developed from continuous polymeric materials measuring 0.25mm thickness.

Various factors are impacting the growth of the Global Plastic Films Market. According to the latest analysis by MRFR, these comprise surging demand for sustainable & biodegradable Plastic Films especially from the packaging industry, increasing use of technologies that are energy-efficient, demand for environment-friendly products, increasing demand for PET, PP, and PVC laminates, and demand for hygienic & flexible food packaging materials. Additional factors adding market growth include increasing disposable income of consumers, growing demand for packaged food, the use of innovative technologies for decorative laminates, and the increasing use of plastic as an alternative for metal & glass. Besides, the growing demand for plastic films during the COVID-19 outbreak to pack e-commerce orders like vegetables, meats, grocery items, frozen meats, and dairy products are also adding market growth. 

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On the contrary, guidelines limiting the use of non-biodegradable plastics may limit the growth of the Plastic Films Market Growth over the forecast period. 

Market Segmentation:

Global Plastic Films Market is segmented on the basis of Application, Material and End Use Industry. 

The Plastic Films Market based on Material is segmented into polyethylene terephthalate (PET), linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), polyvinyl chloride (PVC), low-density polyethylene (LDPE), polypropylene (PP), and others. Of these, the LLDPE segment will spearhead the market over the forecast period. Alluring features such as better sealing properties & high strength coupled with low cost of production, resulting in increasing use in pharmaceutical & food packings, are adding to the growth of the segment. 

The Plastic Films Market based on Applications is segmented into barrier polymer films, biodegradable films, water-soluble films, and nanocomposites films. Of these, biodegradable films will have lions share in the market over the forecast period. Its excellent decomposable properties are adding to the growth of the segment. 

The Plastic Films Market based on End Use Industry is segmented into pharmaceutical, consumer goods, electrical, construction, packaging, and others. Of these, the packaging segment will lead the market over the forecast period. 

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Regional Analysis:

Geographically, the Plastic Films Market has been segmented into North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific (APAC). Of these, the APAC region will dominate the market over the forecast period. People’s high living standards, burgeoning demand for consumer goods, increasing concern for health and hygiene in the case of pharmaceutical products, and surging population are adding to the Plastic Films Market Growth in the region. 

The Plastic Films Market in North America is predicted to hold the second-largest share over the forecast period. Booming pharmaceutical and consumer goods industries that use Plastic Films to manufacture sterile wraps, medical bags, disposable diapers, bubble wraps, carton packing, and others, coupled with the increasing exports & consumption, are adding to the Plastic Films Market Growth in the region. 

The Plastic Films Market in Europe is predicted to have sound growth over the forecast period. Burgeoning demand in the consumer goods market for trash bags & grocery production and rising use in the food and beverage industry that comprises fresh vegetables, on-the-go meals, frozen pork boxes, & more are adding to the Global Plastic Films Market Growth in the region. 

The Plastic Films Market in the MEA is predicted to have small growth over the forecast period for its minimal demand in the agriculture & electrical industry. Major growth will be held by the African region for the presence of a booming agriculture industry as agriculture films widely use mulch & silage films and also have sleeve covers to provide improved crop production quality. 

The Plastic Films Market in Latin America is predicted to have steady growth over the forecast period for the gradually developing construction industry that uses these films under concrete as moisture barriers and in walls as vapor barriers. 

COVID-19 Study in Detail:

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NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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