Plastic Films Market- Global Industry Analysis and Forecast (2023-2029)

Plastic Films Market was valued nearly US$ 203.45 Bn. in 2022. Plastic Films Market size is estimated to grow at a CAGR of 5.34% & is expected to reach at US$ 292.83 Bn. by 2029.
Plastic Films Market Overview:
The research includes regional market trends as well as a competitive landscape. In the report, the revenue impact of the COVID -19 pandemic on market leaders, market followers, & market disrupters was examined, & the same is represented in our analysis.To know about the Research Methodology:- Request Free Sample Report

Plastic Films Market Trends:

The worldwide plastic films market is fueled by increased demand for bio-plastics in food packaging applications around the world, as well as evolving consumer preferences toward eco-friendly products & online shopping. The product's light weight and sustainable nature, as well as the fact that it is recyclable and reusable, are projected to drive market expansion over the forecast period.

Global Food Packaging Industry:

Food packaging is essential for storing & delivering food items to their final destination while maintaining their taste & quality. It protects the contents from moisture & pollutants, prevents spills & tampering, and aids with the preservation of shape & quality. Food packaging has also become popular as a means of disseminating information like nutritional content, expiration date, pricing, & provenance of packaged goods. It also helps as a modern marketing tool for businesses to reach out to customers all over the world.

One of the main drivers driving the market's development is a rapid shift in consumer food tastes, combined with a rising food retail sector around the world. Furthermore, the growing working population, rising disposable incomes, & hectic lives have resulted in an increase in fast food and ready-to-eat product consumption. As a result, prominent corporations are investing in R&D operations to expand product shelf-life & develop anti-microbial packaging materials. Lightweight substitutes are also being introduced to cut shipping costs & emissions. Furthermore, in response to growing environmental concerns, manufacturers are embracing eco-friendly food packaging constructed from biodegradable or easily recyclable, reused, and replenished materials.

The use of plastic as a substitute for glass & metal has resulted in an increase in demand for ornamental laminate goods and solutions. This pattern is predicted to continue to assist the market's growth in the future. As they provide a variety of plastic films for decorating, packaging, & a variety of industrial applications, key companies in emerging economies are focusing on product variation. Governments placing strict rules on plastics, their use, and their recyclability, on the other hand, may stifle global industry growth. Growing concerns over rising raw material costs are also forecast to stymie the global plastic film industry in the coming years. The packaging industry's expanding demand for biodegradable packaging materials, as well as plastic film producers' increased usage of energy-efficient technologies, are likely to provide lucrative growth possibilities for key market players.

During the forecast period, the PET segment is expected to rise at a CAGR of 7.6%:

The MMR report examines the worldwide plastic film market in depth, breaking it down by technology, material, application, & region. The packaging sector had the biggest market share of xx % in the year 2022 & is predicted to increase at a CAGR of xx percent over the forecast period. Because of an increase in easy packaging for ready-to-eat foods, frozen meals, snacks, & cake mixes, the major end-user in the plastic film market is expected to boost demand by xx percent over the forecast period.

In the foreseeable future, medical packaging makers will benefit from the rise of the pharmaceutical business and the growing demand for flexible packaging. The decorative segment, on the other hand, is expected to develop at a CAGR of 6.8% over the projection period. The PET segment has dominated the worldwide plastic film market by product type & is predicted to grow at a CAGR of 7.6% over the forecast period.
Plastic Films Market Regional Analysis:
In the year 2022, APAC held a commanding market share of xx percent. APAC had a market share of xx percent in the year 2022 & is forecast to reach US$ xx Mn. by the end of 2029, representing an 8.3% CAGR. This can be explained by the presence of two densely populous countries, China & India. China, Taiwan, India, Japan, & South Korea have well-established plastic film production bases that are successfully contributing to market expansion. The increased disposable income & consequent rise in the e-commerce sector in these emerging economies would have a positive influence on the plastic films market in the future years.

Plastic films market expansion in the region is being fueled by the growth of packaging applications in various end-use sectors like pharmaceuticals, pet food, cosmetics, healthcare, food, & beverages. China led the Asian plastic films market in terms of volume consumption in the year 2022, thanks to increased consumer spending power, rising demand for consumer & medical items, & large agricultural production.

The objective of the report is to present a comprehensive analysis of the Plastic Films Market to the stakeholders in the industry. The past and current status of the industry with the 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 which include Market leaders, followers, and new entrants.

PORTER, 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 analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Plastic Films Market dynamics, structure by analyzing the Market segments and project the Plastic Films Market size. Clear representation of competitive analysis of key players by Technology, price, financial position, Technology portfolio, growth strategies, and regional presence in the Plastic Films Market make the report investor’s guide.
Plastic Films Market Scope: Inquire before buying



Plastic Films Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 203.45 Bn.


Forecast Period 2023 to 2029 CAGR:
5.34%
Market Size in 2029:
US $ 292.83 Bn.


 Segments Covered:
by Technology
Double & Multi-bubble Technology
Blown Film Technology
Cast Film Technology
Barrier Film
Others


by Material
Polypropylene
LLDPE
LDPE
HDPE
PET
Others


by Application
Medical and Healthcare
Agriculture
Packaging
Decorative
Construction



Plastic Films Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Plastic Films Market , Key Players:
1. Toray Industries, Inc.
2. Amcor plc
3. Berry Plastics Corporation
4. Honeywell International Inc.
5. DuPont Teijin Films
6. SABIC Innovative Plastics
7. KlöcknerPentaplast Group
8. British Polythene Industries PLC
9. Exxon Mobil Chemical Company
10.Vibac Group Spa
11.Inteplast
12.Uflex Ltd
13.Chrystal Plastic S.A.S.
14.Inteplast Group
FAQ’S:
1) What is the share of the Global Plastic Films Market in 2022?
Answer: The Global Plastic Films Market was accounted for 203.45 Bn in the year 2022.

2) Which Material segment is dominating the Global Plastic Films Market?
Answer: LDPE segment is the dominating Application segment in the market.

3) What are the key players in the Global Plastic Films Market?
Answer: Toray Industries, Inc., Amcor plc,Berry Plastics Corporation, Honeywell International Inc. DuPont Teijin Films, SABIC Innovative Plastics, KlöcknerPentaplast Group,British Polythene Industries PLC, Exxon Mobil Chemical Company, Vibac Group Spa, Inteplast, Uflex Ltd,Chrystal Plastic S.A.S.,Inteplast Group.

4) Which region has the largest share in Global Plastic Films Market??
Answer: Europe region holds the highest share in 2022.