Plastic Films Market Outlook and Opportunities in Grooming Regions with Forecast 2027

Market Highlights

Global Plastic Films Market was valued at USD 79.89 billion in 2021 and is projected to grow at a CAGR of around 5.0% during the forecast period.

Segmental Analysis

According to MRFR analysis, the Global Plastic Films Market has been segmented based on Technology, Material Type, Application and Region.

Based on Technology, the Global Plastic Films Market has been divided into blown film technology, cast film technology, double & multi-bubble technology, barrier film, and others. The blown film technology segment held a larger market share in 2019 and is expected to register the highest CAGR of over 5.0% during the forecast period, 2022 - 2030.

By Material Type, the global plastic films market has been segmented into LLDPE, LDPE, HDPE, Polypropylene, PET, and others. The LLDPE segment held the largest market share of over 30.0% in 2019 and is expected to register a significant CAGR during the review period.

Based on Application, the global plastic films market has been divided into packaging consumer goods, agriculture, construction, and others. The packaging segment held a larger market share in 2019 and is expected to register the highest CAGR of over 6.5% during the forecast period.

Regional Analysis

Geographically, the Global Plastic Films Market has been divided into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. As per the analysis of MRFR, Asia-Pacific was the dominant regional market, accounting for a leading market share of over 40.0% in 2021. Moreover, North America held the second-largest market share of the global market in 2019 due to the strong consumption of plastic films specifically in packaging and construction applications.

Key Players

Market Research Future (MRFR) identifies the following companies as the Key Players in the Global Plastic Films Market: DuPont (US), Toray Industries, Inc. (US), Amcor plc (Switzerland), Chrystal Plastic S.A.S. (US), Vibac Group Spa (Italy), Honeywell International Inc. (US), Carmel Olefins Ltd (Israel), Saudi Basic Industries Corporation (Saudi Arabia), Inteplast Group (US), Sealed Air (US), Novolex (US) and Polyone Corporation (US).

Key Findings of the Study

• Global Plastic Films Market reached USD 71,668.2 Million in 2019 and is projected to reach USD 118,623.8  Million by the end of 2023, at a CAGR of 5.0% during the forecast period.

• Based on technology, the blown film technology segment is expected to grow at the fastest CAGR of 6.42% during the review period.

• On the basis of material type, the LLDPE segment dominated the market with a share of 34.15% and was valued at USD 24,480.3 million in 2020.

• Based on application, the packaging segment is expected to grow at the fastest CAGR of 6.61% during the review period.

• Asia-Pacific is likely to register a CAGR of over 6.87% during the review period.