Preliminary research reveals that the global plastic films and sheets market was a more than US$100 Bn industry in the year 2021 and will continue its progress at a commendable pace. Booming demand across food industry, and growing bioplastics penetration will drive the market ahead, to a large extent.
Rocketing Use of Bioplastics to Create Ample Opportunities for Plastic Films and Sheets Market
The trend of adopting eco-friendly products and materials on the back of growing environmental concerns has pushed the use of bioplastics across several industrial uses. This factor remains instrumental in driving the use of bioplastic materials in plastic films and sheets market owing to their eco-friendly nature, and biodegradability. Moreover, coming from a renewable resource, bioplastic material is widely used in end user applications to reduce major concerns apropos to plastic wastes that contribute towards environment pollution. Being completely biodegradable, highly reliable, adaptable, and highly resistant, bioplastic films and sheets are widely used in textile, agriculture, pharmaceutical and food packaging applications.
In addition, bioplastic films and sheets are also used in automotive industry as they support in reduction of carbon footprint. Furthermore, their increasing demand is complemented by the fact that these films and sheets require less energy during production and do not contain any harmful chemical additives such as Bisphenol A, and phthalates. This factor has fuelled their use as a vital sustainable material in films and sheet production. That said, increasing production of bioplastics is expected to influence the growth of plastic films and sheets market by providing lucrative avenues in the coming years.
Rising Popularity of Packaged Food Products to Spur Demand in Plastic Films and Sheets Market
The use of plastic films and sheets in the food industry is expected to witness an upswing on the back of growing popularity of packaged food products. Demand for packaged foods has translated into an increase in sales of products such as ready-to-eat foods, cakes mixes, frozen meals, and snacks. This has given an impetus to the adoption of plastic films and sheets in food packaging space in turn complementing their market growth. Moreover, their functional aspects such as superior sealing strength, high flexibility and vacuum finish are embossing a strong positive influence, in turn fuelling their demand. In wake of growing adoption in the packaged food sector, the plastic films and sheets market is expected to witness a stable growth rate in the years to follow.
Plastic Films and Sheets Market Thrives as Specialty Films Gain Traction as a Preferred Packaging Solution for Meat and Pharmaceutical Products
Research and development activities in the plastic films and sheets domain is expected to supplement growth of the market. That said, the advent of specialty films has transformed the packaging sector. Specialty films made from specialty polymers possess superior functional characteristics as compared to conventional films. In addition, their multi-layer barrier properties have further accelerated their demand. Effective light or UV barrier property and non-porous nature of these films make them an apt solution for packaging of meat products. Moreover, their use in pharmaceutical industry wherein temperature controlled packaging is required has further fuelled their market growth. In this backdrop, use of specialty films manufactured using compostable and biodegradable materials is expected to gain traction, consequently bolstering growth of the plastic films and sheets market.
LLDPE Films to Account for a Significant Share in Plastic Films and Sheets Market, BOPP Films to Gain Stronger Ground
Sales of linear low density polyethylene (LLDPE) are expected to increase at a moderate pace, accounting for a significant value share in the plastic films and sheets market. Properties of LLDPE films such as high tensile strength, flexibility and high impact and puncture resistance along with high clarity have pushed their use across various industrial applications. Moreover, these films are cost effective, which complements their adoption. Alternatively, biaxially oriented polypropylene (BOPP) films are also expected to gain steam. Their unique properties allow BOPP films to stretch in two directions. In addition, their orientation provides them with high stiffness, lustre, and low elongation. Based on these aspects, BOPP films are widely used in industries such as packaging, electronics, and other specialty applications. In this background, rising demand for BOPP films is expected to contribute towards growth of the plastic films and sheets market.
Asia Pacific to Maintain Status Quo as the Leading Region in the Plastic Films and Sheets Market
Significant growth in the pharmaceutical and food and beverage sector in Asia Pacific is expected to trigger demand for plastic films and sheets. In addition, economies such as China, South Korea and Taiwan have reflected high lucrativeness for manufacturing electronic products. This has propelled the use of plastic films and sheets in turn driving their market in Asia. Furthermore, macroeconomic aspects such as stable growth in urbanization, economic development and business friendly environment have attracted several end users of plastic films and sheets. Manufacturers can expect a volley of opportunities from the region in the forthcoming years, making Asia Pacific a highly attractive regional market for plastic films and sheets.
Plastic Films and Sheets Market: Competitive Landscape
A few of the major players in global plastic films and sheets market include Amcor PLC (Switzerland), Toray Industries Inc. (Japan), Uflex Limited (India), Berry Global Group Inc., Oben Holding Group, Toyobo Co. Ltd., DuPont Teijin Films, Jindal Poly Films Ltd., SABIC (Saudi Arabia), and Sealed Air Corporation.
The Global Plastic Films And Sheets Market Is Segmented As Below:
By Product Type
By End Use
Key Elements Included In The Study: Global Plastic Films and Sheets Market
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