Plastic Films Market Research Report - Global Forecast till 2030

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) - Forecast till 2030

ID: MRFR/CnM/2216-CR | February 2021 | Region: Global | 150 pages

Plastic Films Market Overview


The market is projected to register a CAGR of 5.0% between the ongoing forecast period of 2021-2028 and is expected to reach a global market value worth USD 118,623.8 million.


The Plastic films market value is predicted to grow at a decent rate during the ongoing forecast period of 2021-2028. The market is driven by factors like increasing applications in market sectors like food and pharmaceutical packaging. The market products like plastic films and sheets are known to be made of polyethylene and polypropylene. The has been an increase in the disposable income of the consumers together that is resulting in a growing demand for packaged food. This is a major factor that is driving the market for plastic films & sheets.


COVID 19 Analysis


The pandemic was a new yet very uncomfortable situation for the global audience, individuals, markets, manufacturing, and production units. The experience is unique but the obnoxious spread of the pandemic has given rise to an array of functional and manufacturing issues. The rising cases with each passing day have been deteriorating the market conditions and hence, there has been a major disruption in the supply and demand chain mechanism of the global market during the forecast period that will be ending in 2028.


The conspicuous and involved players of the global plastic films market are en route to generally put resources into the innovative work programs that will help in enormous scope execution and dispatch of the market functions, administrations, and items for a huge scope. Additionally, the market organizations are open for consolidations, collaborations, mergers, and acquisitions that will expand the serious degree on the global scale to put the wellbeing of the interest group at need and capacity likewise during the estimated time frame.


Market Dynamics


Drivers


The global market is witnessing the rise and dependence of the common man on e-commerce that is rising the demand for protective packaging that is inclusive of plastic films and wraps amongst others that will drive the demand for the market in the forecast period.


Restraints


The plastic films market is witnessing the rise of stringent market regulations against the environmental concept of plastic recyclability that is giving birth to major trends that might restrain the market from growing as per the predictions for the period.


Technology Analysis


The market is home to the advanced packaging films that are being recognized as a key commodity as they have a pivotal role to play when it comes to keeping the products intact and keeping them in the proper place before any customer gets their hands on the ordered products. In recent years, the demand for the market products and services has seen major development and international expansion which has pushed for a mass acceptance of the market applications, especially in the food and beverage industry. Similar trends are predicted to follow during the current forecast period of 2021-2028, and hence, present the market players with growth opportunities and enhance their global visibility.


Study Objectives



  • To market report aims to project the prospects that are held by the market segments as a part of the potential global regions in which the market trends are functional and rising followed by the discussion on the regions in which the competitive market players are functioning and hence, will result in a market rise during the forecast period that ends in 2028.

  • To market report aims to study the available market trends, the impact of the coronavirus pandemic outbreak on the market operations, followed by the market dynamics like drivers, challenges, and restraints that might have an impact on the CAGR growth rate and the market valuation by the end of the forecast period in 2028.

  • To report further aims to have a deep analysis of the degree of market competition in the global market premises based on the recent developments like mergers and collaborations undertaken by the prominent players to function, grow, and create a massive demand in the international market


Market Segmentation


The Plastic films market share is increasing and hence, has been divided to function all across the globe to meet the rising needs of the target audience and hence, explore the growth opportunities that are available to the global market. The global market has been segmented based on the following:


Based on the market type


The market type is inclusive of LLDPE, LDPE, HDPE, BOPP, CPP, PVC, PES, and others like PA.


Based on the market applications


The market applications include markets like Food packaging, Pharmaceutical & medical packaging, and others like Consumer goods packaging and Industrial packaging followed by others like agriculture, Construction, and Medical & Healthcare.


Based on the Region


The global market operations are functional in 4 major global markets across the globe. Based on the region, the market is functional in the North American region, the Asia-Pacific countries, the European region, and the rest of the world (RoW).


Regional Analysis


The Plastic films market is currently functioning in 4 major regions across the globe. These regions are the APAC region, the European countries, the North American market scale, and the rest of the world. The rising competition is because the market players that are present in these locations are undertaking massive steps to expand the market and let the market propel on the developments. The demand for the market in the APAC region is driven by an increase in the demand for oriented films that is coupled with the rising demand for packaged food in the developing economies that are a part of the region. The increase in the usage of plastic films in the region for agriculture drives the global market in market places particularly the Indian subcontinent. The Asia-Pacific holds a considerable market share in the global market. China is likely to lead the APAC market in terms of demand for market products like plastic films & sheets used in packaging. The Asia-Pacific is thus likely to maintain its dominance in the global market and regions owing to the steady pace of growth in China and India.


Competitive Landscape


The rising market competition and the rat race to emerge as dominant market players in both the domestic and international regions and propelling market trends is likely to give rise to dependable developments undertaken by the global market players. The most prominent, major, and key players in the Plastic films market that are functional all across the globe are mentioned below:



  • The Dow Chemical Company

  • DuPont

  • Honeywell International Inc.

  • Mitsubishi Chemical Holdings Corporation

  • Saudi Basic Industries Corporation (SABIC)

  • Evonik Industries AG

  • Griffon Corporation Inc.

  • Eastman Chemical Company

  • Amcor Limited

  • Berry Plastics Corporation


Recent Developments



  • LLDPE is one of the most prominent market segments that have a major role to play in expanding the global share held by the market during the forecast period that ends in 2028. The properties of LLDPE have a high puncture resistance and tensile strength that has many benefits to offer to the market players and target audience functional in the global market premises.

  • October 2021: An Indian business, Vikas Lifecare Limited, announced the successful submission of a patent for the method of "Recycling of Multi-Layerered Plastics (MLP) and converting it to granules and goods for societal purposes." Vikas Lifecare has invented a method that allows recovered MLP material to be utilized to make pallets, interlock Tiles, and then other plastic goods, resulting in a profitable, scalable, and fulfilling business for the company. MLP, which consists of various layers of plastics and an aluminum layer for their specific purpose in a packaging film, has yet to find a viable recycling solution because the layers cannot be dissected apart, and the matrix of various types of plastic in an MLP presents a significant challenge for recycling and, ultimately, finding a workable recycled material and its viable application. These measures will not only help the company reinforce its position in the industry matrix, but they will also result in considerable revenue and profitability growth for years to come, as well as improved financials and per-share earnings.

  • China, as a part of the APAC region, is propelling as an excellent market for there is a huge demand in the plastic films and sheets market that are majorly used for packaging.

  • The food and packaging industry is also likely to account for the largest market share during the forecast period. The increased number of market trends for packing and delivery systems will help the market attain an excellent market expansion.


Report Overview


This Plastic films market research report covers a variety of heads and elaborates the role of the market players in the expansion of the market through those sections and functions. This market report discusses the factors that drive the growth of the plastic films market in the global premises along with the relevant factors that are likely to restrict its growth during the forecast period. The market report discusses the availability of technology that will help the market followed by the effect of the pandemic on the market operations. The report predicts the future growth rate of the Plastic films market during the forecast period that will be ending in 2028.


Intended Audience


The intended audience for the global market size is as follows:



  • Nationalized laboratories

  • Raw material distributors and suppliers

  • Research firms and development institutes

  • Potential market investors

  • Product traders and distributors of Plastic films

  • Plastic films manufacturers, importers, and exporters



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant value
  CAGR   5.9% (2022-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Technology, Material Type, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Toray Industries, Inc. (US), DuPont (US), Amcor plc (Switzerland), Vibac Group Spa (Italy), Chrystal Plastic S.A.S. (US), Carmel Olefins Ltd (Israel), Honeywell International Inc. (US), Inteplast Group (US), Saudi Basic Industries Corporation (Saudi Arabia), Novolex (US), Polyone Corporation (US), Sealed Air (US)
  Key Market Opportunities   Growing Adoption of Biodegradable Plastics to Create Avenues to Key Players
  Key Market Drivers   Growing Adoption of Packaged Food To Drive Market Growth


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Frequently Asked Questions (FAQ) :


The Plastic films market is predicted to attain growth at a higher CAGR of 5.0% during the forecast period that will be ending in 2028.

The Plastic films market is predicted to attain a global revenue figure that amounts to USD 118,623.8 million.

The Plastic films market all across the globe is likely to be dominated by the Asia-Pacific region.