Polyethylene Film Market expected to continue trend, owing to wide availability of raw materials and robust product demand in food packaging applications

The Global Polyethylene Film Market is estimated at $ 70.465 billion in 2016 and is expected to reach $ 90,911 million by 2023, an annual average growth of 3.6% from 2017 to 2023. The Linear Low Density Polyethylene (LLDPE) segment will be the full 2016 market.

Polyethylene is a thermoplastic with properties such as toughness and high tensile strength. Because of its low melting point, it is used to heat seal the packaging in the packaging industry. These properties depend on the basic polyethylene parameters of density / crystallinity, molecular weight and molecular weight distribution.

As manufacturing production in the Asia-Pacific region accelerates significantly, the market is seeing strong demand. The growth of polyethylene film applications in the field of food packaging is expected to accelerate market growth with growth in the food and beverage industry. Another factor driving the demand for the polyethylene film market is innovation, leading to the development of flexible packaging products that are rapidly strengthened in the food and beverage sectors.

The use of polyethylene film instead of glass and metal also contributes to market growth. However, fluctuations in raw materials and strict regulatory costs across Europe that prohibit the use of plastic films in the agriculture industry are some of the factors that are expected to hamper market growth during the forecast period.

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The major companies profiled in the report include
• AEP Industries
• Amcor Ltd.
• Berry Plastics Corporation
• Dupont Teijin Films
• Exopac Holdings Corporation
• Jindal Poly Films
• Sealed Air Corporation
• Hilex Poly Co LLC
• Innovia Films Ltd.
• Ampac Holdings

In 2016, the LLDPE segment accounted for nearly half of the total market share, in terms of volume. The excellent high strength and source reduction capabilities have jolted the market growth, including pouches for food products and food packaging Furthermore, LLDPE films are moisture and grease resistant, which boosts the growth of the market. Increase in substitution of low density polyethylene films (LDPE) by LLDPE films owing to desirable cost advantage also fuels the market growth.

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Key Findings of the Polyethylene Films Market:
• In terms of value, the cast film extrusion segment is anticipated to exhibit the highest growth rate of 2.9% from 2017 to 2023.
• Asia-Pacific is anticipated to lead the market in 2023 and is projected to grow with a CAGR of 3.9%, in terms of value.
• The stretch films segment occupied nearly half of the total market in 2016.
• Brazil occupied nearly half of the total LAMEA polyethylene films market in 2016.
• In terms of value, Japan is expected to grow at a CAGR of 4.8%.

In 2016, Asia-Pacific accounted for nearly half of the total polyethylene films market, and is expected to continue this trend, owing to wide availability of raw materials and robust product demand in food packaging applications.

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