Global plastic films market was valued US$ 112.11 Bn 2019 and is expected to reach US$ 151.34 Bn by 2027, at a CAGR of 5.34% during a forecast period. Development in food and beverages industries requires efficient packaging for their products, expected to grow the plastic film market in coming years.
The plastic film is famous as thin polymeric material.Plastic film is rough, colored, clear, semi-transparent and smooth, which is made up of variousflexibleplastic resins, each with its specificirreplaceable physical properties which are contrarilyappropriate to numerous applications in number of end-user industries like in packaging, plastic bags, labels, construction, movies, videotapes, photographic films, electric fabrication, and landscaping.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Various aspects are delivering the growth factor for the global plastic films market. These factors are increasing demand for fast moving consumer’s goods amongst the population, development in films for packaging and are expected to drive the market growth in the coming years. On the other hand, high demand for packed food,rising disposable income, popularity and acceptance of innovative technologies in laminates, decorative products, growing preference of plastic over steel and metal end products amongst population in developed and developing regions making this product widely accepted. Furthermore, growth in industrial sector like construction and building, agriculture, healthcare sectors are largely emerging as huge applicant for targeted material result of ease of availability as per consumer’s demand is giving opportunities for market development.
Moreover, presence of substitutes and variation in raw material cost with high maintenance arehindering the market growth.
Plastic Films Market Segment analysis
In terms of material, the LDPE sector is expected to dominate the market during the forecast period and was valued at US$ XX Bn in the year of 2019. LDPE have property like better thickness, resistance to excess sunlight,external environment and optical property, hence growing demand for the high-quality films to endure adverse climatic conditions are expected to provide push to plastic films film market in terms of growth. The Asia Pacific accounted for the fastest adoption of the plastic films owing to noteworthy growth in the technical proficiency in agriculture sector, government involvement and significant growth in population, in Asia-Pacific will support the regional growth in the market during the forecast period. Moreover, greater transparency, flexibility and inexpensive as compared to other film materials is helping global plastic films market to grow with increased application for agriculture industry. LDPE produces no toxic gases or fumes on burning is attracting the key companies present in the market expected to show significant growth by the end of 2027.
Plastic Films Market Regional analysis
Regionally, Asia Pacific is anticipated to witness the fastest market growth during the forecast period expanding at a CAGR of XX% over the forecast period. Growing consumption of product together with mounting demand for healthcare and consumer goods in the region is likely to boost the market growth. Asia Pacific documented for major revenue holder for the plastic film market, followed by markets in Europe,North America, Middle East & Africa and Latin America, respectively. Speedy expansion besides developing infrastructure, advancement events in emerging economies including India, Indonesia, andChina is anticipated to push market growth. Furthermore, existence of large number of market players in the region is estimated to drive the market growth duringthe estimated years.
Key Developments in the Market:
• In March 2019, Exxon Mobil Corporation declared that they are going to emerge new polypropylene manufacturing facility with Baton Rouge which is estimated to stop nearly at 450,000 in terms of annual product of polypropylene. This extensionexpected to result in better avenues for growth which will mark their footprint on growth panel for polypropylene plastic.
The objective of the report is to present a comprehensive analysis of theGlobalPlastic Films Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Plastic Films Market dynamics, structure by analysing the market segments and project the Global Plastic Films Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Plastic Films Market make the report investor’s guide.
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Scope of Plastic Films Market
Global Plastic Films Market, By Technology
• Double & Multi-bubble Technology
• Blown Film Technology
• Cast Film Technology
• Barrier Film
Global Plastic Films Market, ByMaterial
Global Plastic Films Market, By Application
• Medical and Healthcare
Global Plastic FilmsMarket, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating thePlastic Films Market,
• Sinopec Shanghai Petrochemical Company Limited
• Sumitomo Bakelite Company Limited
• Exxon Mobil Chemical Company
• Berry Plastics Corporation
• SABIC Innovative Plastics
• Klöckner Pentaplast Group
• British Polythene Industries PLC
• Trioplast IndustrierAB
• Bemis Company, Inc
• DuPont Teijin Films
• Jindal Poly Films Ltd
• Paragon Films, Inc
• Taghleef Industries
• Toyobo Company Ltd
• The Vibac Group
• Uflex Ltd
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