Cast Polypropylene Packaging Films Market is Projected to be Worth US$ 7.12 bn by the end of 2028
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Key factors driving the demand for cast polypropylene packaging films across the globe are rising consumption of convenience food, high demand for packaging solutions that enhance shelf life, and growing preference for cost-effective films with a high moisture barrier. The cast polypropylene packaging films market in Asia Pacific and Middle East & Africa was promising in the past. This was attributable to rapid urbanization, growing population, and increasing disposable income of middle-class families in these regions. The outlook for the market in Asia Pacific appears promising for the forecast period also. In 2017, Polyplex Corporation Limited expanded its packaging films business in Indonesia to cater to the rising demand in the country. Other global players are also planning to expand in Asia Pacific during the forecast period.
Rapidly increasing demand from the food & beverages industry and rising usage of bags and pouches in end-use industries are key drivers of the cast polypropylene market. Rise in the consumption of convenience food and high demand for packaging solutions that enhance shelf life are anticipated to propel the demand for cast polypropylene packaging films in the near future. Growth of textile and health care industries in developing economies is anticipated to drive the demand for cast polypropylene packaging films during the forecast period.
The information Presented in this Review is Based on Press-Release by TMR
High preference for alternative packaging materials and fluctuating prices of resins is the key restraint of the cast polypropylene packaging films market. Increasing use of substitutes such as aluminum, PET, and BOPP products in food and packaging industries is likely to hamper the market during the forecast period. High demand for sustainable packaging from end-use industries presents key growth opportunities to the cast polypropylene packaging films market.
The cast polypropylene packaging films market has been segmented based on thickness, packaging type, and end-use. In terms of thickness, the market can be classified into up to 18 micron, 18–50 micron, 50–80 micron, and above 80 micron. Up to 18 micron was the dominant segment, accounting for over 40% of the market share in 2017.
Mr. Rohit Bhisey
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