Plastic Films Market 2018 Global Growth Developments, Updated Business Players, Pricing Trends, Industry Challenges and Share Forecast by 2023
Dec 4, 2018
Global Plastic Films Market Information- by Technology (Biodegradable Films, Nanocomposites, Barrier Polymer Films, and Water-Soluble Films), Type, End User Industry (Packaging, Consumer Goods, Construction, Pharmaceutical, Electrical) and Region - Forecast till 2023
Pune, India - December 4, 2018 /MarketersMedia/ —
Market Scenario
The Global Plastic Films Market is presumed to garner USD 146,813.87 million during the forecast period (2016-2023). The market is expected to showcase 5.4% CAGR owing to the increasing consumer demands, asserts Market Research Future (MRFR). Plastic Films are plain or printed, multilayered or single, colored or transparent plastic which possesses less than 10 mm thickness and is combined with materials such as aluminum and paper. They are thin continuous polymeric material which is made of resins, owing unique combination of properties. Plastic Films are springy or flexible in nature and are used in several packaging industries such as non-food and food packaging industry. They are also used for labeling, construction, decoration, electric fabrication, industrial purposes, and plastic bags.
Industry Updates
November 19, 2018: Recycling Technologies, plastic waste reprocessor has formally inaugurated their new facility in Swindon. They claim that Europe’s waste plastic recycling capacity will be tripled. The company’s RT7000 machine uses chemical recycling processes in order to convert several forms of plastic wastes, including films, difficult-to-recycle black plastic, food pouches, and crisp packets into crude oil equivalent called Plaxx. This can be reused to create new plastic products.
Competitive Dashboard
The prominent players operating the global market are Amcor Limited (Australia), Garware Polyester Company (India), Toray Industries Inc. (Japan), Sealed Air Corporation (U.S.), E. I. du Pont de Nemours and Company (US), Vibac Group S.p.a. (US), Jindal Poly Films Ltd. (India), Bemis Company Inc. (U.S.), Inteplast Group (US), Polyplex Corporation Limited (India), and others.
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Drivers and Constraints Affecting the Market
Plastic Films have gained significant popularity across several industries. Demographic changes, active lifestyle, and increasing sustainability trend has been augmenting the development and innovation of plastics, thus offering marketing opportunities in sectors such as food and beverages and consumer goods. With the growing demand for biodegradable plastic, the demand for Plastic Films is considered to propel during the estimated period. Employing advanced technologies for decorative laminates, growing demand for flexible and hygienic food packaging materials, and use of plastic as a substitute for metal and glass are further triggering the demand for Plastic Films Market.
The growing demand for PVC, PET, and PP along with the shifting consumer preference towards eco-friendly products are augmenting the market growth. Moreover, with strict environmental mandates imposed across the world, vendors are substituting conventional plastics with green plastics such as polyanhydrides, polyvinyl alcohol, and polylactic acid. With high adoption rate of green, biodegradable plastics by the packaging manufacturers, the global market for plastic films is presumed to augment in the coming years.
On the flip side, fluctuations in the raw material prices along with strict mandates imposed for the use of plastics are some of the major concerns likely to impede the market growth during the review period.
Global Plastic Films Market: Segmental Analysis
The Global Plastic Films Market has been segmented on the basis of Type, Technology, End-Users and Region.
By Mode of Technology, the Global Plastic Films Market has been segmented into nanocomposites, biodegradable films, water-soluble films, and barrier polymer films.
By Mode of Type, the Global Plastic Films Market has been segmented into LDPE, LLDPE, polypropylene films, HDPE, PVC films, PET films, and others. Among these, LLDPE is widely accepted as it provides conformability, improved mechanical strength, and excellent optical strength. LLDPE is also soft and pliable compared to LDPE and is thus widely used.
By Mode of End-Users, the Global Plastic Films Market has been segmented into consumer goods, packaging, pharmaceutical, construction, electrical, and others.
Regional Insights
Geographically, the Plastic Films Market span across regions namely, Asia Pacific, Europe, North America, and the Middle East and Africa.
Among all the regions, Asia Pacific is considered to be the largest market across the globe owing to the increasing demand in several end-user industries such as consumer goods and packaging industry in China followed by Japan and India. Moreover, the rising demand in consumer trend for packaging industry, especially in India, South Korea, and Taiwan has contributed to the growth of the market in the Asia Pacific region.
Moreover, rapid urbanization and high disposable income have led to an increase in consumer spending. Also, high purchasing of the consumers coupled with busy lifestyle has caused them to shift towards buying packaged food products, which has further augmented the growth of Plastic Films in this region. Europe is estimated to be a mature market owing to the growing demand for specialty films in construction, pharmaceutical, and non-packaging sector.
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Website: https://www.marketresearchfuture.com/reports/plastic-films-market-3002
Source: MarketersMedia
Release ID: 454455
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