Press release
LDPE & LLDPE Sealant Web Films Market to increase at a CAGR of 4.1% through 2028
Future Market Insights, in its recently released intelligence outlook, forecasts moderate growth for the global LDPE and LLDPE sealant web films market over the next 10 years.
During 2018-2028, the global revenue of global LDPE and LLDPE sealant web films market is anticipated to expand at a moderate CAGR of 4.1% and reach a value worth US$ 67.5 Bn by the end of 2028. With over 62% value share in the global LDPE and LLDPE sealant web films market revenue, LLDPE is presumed to remain a larger shareholder throughout the forecast period. Higher heat-seal strength, economically priced, and reduced density and weight are some factors responsible for increased demand for LLDPE.
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Evolving Food Packaging Trends to Drive LDPE and LLDPE Sealant Web Films Adoption
Accounting for nearly 37% of the total market share, the food industry is aggressively adopting LDPE and LLDPE sealant web films, owing to shifting preference consumer preference apropos of protection and preservation of food. Food packaging pouches made of multilayered LDPE and LLDPE sealant web films provides high heat-seal strength, low melting temperature and good moisture barrier properties. Packagers, in the food industry, are using LDPE and LLDPE film layers as the outermost layer on the pouch packaging, owing to high printability and high quality aesthetics offered by LDPE and LLDPE sealant web films. Demand for clear packaging is also driving the market for transparent or see-through LDPE or LLDPE sealant web films, predominantly in developed countries of North America, Western Europe and Japan.
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Bio-Based Sealant Web Films Becoming an Important Slice of the Revenue Pie
FMI projects that regulations curbing the use of oil-based plastics to reduce carbon footprint and gradual shift towards sustainable and eco-friendly packaging in the form of bio-based sealant web films will restrict the adoption of LDPE and LLDPE sealant web films, in the coming years, impacting the overall growth scenario of the global LDPE and LLDPE sealant web films market. Moreover, on account of depleting fossil fuel resources, the prices of petroleum are augmenting, leading to an increase in prices of conventional plastics, including LDPE and LLDPE sealant web films. Contrarily, the prices for bio-based plastics are expected to witness slight decline owing to increasing demand, production capacity, and legislative support. Such volatility is expected to hamper the global demand of LDPE and LLDPE sealant web films market. Increase in demand for bio-based sealant web films packaging in the F&B industry is attributable to companies switching to biodegradable packaging options especially for organic and premium food products.
The transparent monolayer LDPE & LLDPE bags, used for weather protection, are likely to dominate LDPE and LLDPE sealant web films market, with significant consumption for B2B purposes. The market for flat pouch market will be majorly driven by the changing packaging landscape in the food industry.
The key players of the global LDPE & LLDPE Sealant Web Films market are Berry Global, Bemis Company Inc., Jindal Poly Films, Mitsui Chemicals America, Inc., Dow-Dupont Inc., Winpak Ltd., Polifilm GmbH, Avery Dennison and DIC Corporation.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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