Plastic Films Market Size Estimation 2018 and Global Share Analysis 2023 by Top Brands - Bemis Company, Amcor Limited, Jindal Poly Films, Sealed Air, E. I. du Pont de Nemours, Garware Polyester, Vibac Group S.p.a., Toray Industries, Polyplex, Inteplast

Market Segmentation

The Global Plastic Films Market can be segmented on the basis of Technology, Type, and end-Users.

By Technology, the market is segmented by biodegradable films, nanocomposites, barrier polymer films, and water-soluble films. Biodegradable films do not contain chemicals, hence are incredibly convenient in food industries. They are less harmful to the environment, conserve energy and are renewable, which makes them appealing for manufacturers to use for their products. On the other hand, a majority of consumer products that use nanocomposite packaging are in the beverage industry.

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The types of Plastic Films are linear low-density polyethylene film (LLDPE), low-density polyethylene film (LDPE), high-density polyethylene (HDPE), polypropylene films, polyethylene terephthalate (PET) films, polyvinyl chloride (PVC) films, and others (polystyrene, polyamide, polyvinyl butyral, polyester). LLDPE films are used in applications such as pipes and conduits, sheets, wires and cables, rotomolding, injection molding, and films. The global linear low-density polyethylene (LLDPE) market is growing steadily to increasing applications in household products, packaging, automotive, and agriculture segments.

Lastly, the End-Users of Plastic Films are packaging, consumer goods, construction, pharmaceutical, electrical, and others (agriculture, household). Massive demand in packaging industry is likely to drive the plastic films market growth. The packaging industry makes extensive use of plastic films due to their easier availability and low prices. Also, plastic films used in pharmaceutical industry increase the shelf life of medicines and drugs and protect them from external environment for a long time.

Market Overview

Market Research Future (MRFR) forecasts that the Global Plastic Films Market is projected to experience a notable growth of USD 146,813.87 MN at a CAGR of 5.4% during forecast period (2016-2023). Growing demand for hygienic flexible packaging materials from food industry is driving the market growth across the globe.
Moreover, the increased usage of the eco-friendly bioplastic films coupled with growing usage of plastic films in agriculture paves the way for Plastic Films Market in emerging economies. Apart from this, it’s been observed that a significant number of consumers are leading time-constrained lifestyles, plus there has been a rise in the number of single person households, increasing working mothers and a growing out-of-hours working culture, which has led to considerable demand for conveniently packaged time-saving products and packaged for on-the-move consumption. Other drivers include increased public awareness about environmental hazards due to disposal and recycling of plastic packaging wastes and also government initiatives to minimize greenhouse gas emissions has led to Plastic Films Market growth all over the globe.

However, easy availability of substitutes such as glass and metal could potentially act as a deterrent to the growth in the market. But despite the potential threats posed, maximum growth in demand is anticipated resulting from pre-fillable syringes and inhalers, vials, medication tubes, labels, and accessories, which will propel the market growth in the coming years. Worth noting are some trends in the plastic films market such as lightweighing. Lightweighting is a trend which involves reducing thickness of the plastic film used instead of reducing the overall size of the package. Furthermore, manufacturers have capitalized on this trend by developing portable and re-sealable plastic packaging for snacking or specific consumption occasions.

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