The Global Plastic Films Market is expected to exhibit a steady 5.4% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The Global Plastic Films Market is mainly driven by the growing demand from applications such as packaging, consumer goods, pharmaceutical, and others. The report presents a comprehensive overview of the Global Plastic Films Market by analyzing its key drivers and restraints and presents a detailed forecast for the market over the 2019-2025 forecast period. The leading economic factors affecting the Global Plastic Films Market are also assessed in the report.
Plastic Films are used in a wide range of applications for covering, masking, and protecting things. The packaging industry has been a major end user for the Plastic Films Industry and is likely to be a major driver for the market in the coming years, as the growing ecommerce sector has driven up the demand for durable packaging materials. Plastic Films are a highly cheap yet effective way of keeping out moisture, dirt, and other environmental contaminants and can be used to cover a wide range of shapes and sizes, making them highly useful in the packaging industry. This is likely to be a key driver for the Global Plastic Films Market.
The pharmaceutical industry is also likely to emerge as a major end user of Plastic Films over the forecast period due to the growing demand for effective water- and air-resistant packaging for pharmaceutical formulations. Pharmaceutical formulations may easily perish if moisture can get through to them. This makes the role of plastic films vital, as they provide a sturdy resistance against moisture as well as heat, keeping pharmaceutical products safe and in shape.
Leading players in the Global Plastic Films Market include Reynolds Consumer Products, Polyone Corporation, Novolex, Packing Corporation of America, Honeywell International Inc., SABIC, Inteplast Group, Polyplex, Toray Industries Inc., Vibac Group SpA, Garware Polyester Company, DuPont, Sealed Air, Jindal Poly Films Ltd., and Amcor Limited.
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In October 2019, Renolit and RKW announced the completion of their ownership restructuring following the breakup of former parent company JM Holding GmbH & Co. KGaA.
The Global Plastic Films Market Report has been segmented based on Material, Application, End-Use Industry and Region.
Based on Material, the Global Plastic Films Market has been divided into linear low-density polyethylene (LLDPE), low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), and others. The LLDPE segment held the largest share in the market in 2018.
Based on Applications, the Global Plastic Films Market has been classified as biodegradable films, nanocomposites films, barrier polymer films, and water-soluble films. Biodegradable films are expected to exhibit the fastest growth over the forecast period due to the growing demand for biodegradable plastics, which is environment-friendly and allows for safer, cleaner use of plastics.
By End-Use Industry, the Global Plastic Films Market has been segregated into packaging, consumer goods, construction, pharmaceutical, electrical, and others. The packaging industry is likely to dominate the Global Plastic Films Market.
Asia Pacific is the dominant regional segment in the Global Plastic Films Market, followed by North America and Europe. The growing population of Asia Pacific has been a major driver for the Plastic Films Market in the region, as this has driven the demand for consumer goods, driving the demand from the Plastic Films Market. The growing demand for pharmaceutical packaging is also likely to be a key driver for the Plastic Films Market in Asia Pacific. However, the consumer goods and packaging industries are likely to remain the most important for the Plastic Films market over the forecast period in Asia Pacific. Growing ecommerce operations in the region, driven by widespread adoption of the Internet, has also driven the packaging industry in the region, thus driving the demand from the Plastic Films Market.
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