Press release
Multilayer Blown Films Market to Reach USD 11.3 Bn by 2032
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Analyst Viewpoint
The demand for multilayer blown films is surging due to their superior barrier properties, which extend the shelf life of products and provide excellent protection during storage and transit. These properties are particularly valued in the food and beverage industry, where the availability of food-graded materials and adherence to food safety regulations emphasize their non-toxic and safe nature. Manufacturers are focusing on introducing advanced technologies and sustainable solutions, meeting consumer demand for eco-friendly options and reducing transportation costs.
Market Introduction
Multilayer blown films are composed of multiple layers of plastics and polymers, primarily polyolefin plastics and polyethylene. They offer unique properties such as low permeability to gases, heat sealability, high film strength, and excellent adhesion and printability, making them ideal for food packaging. The films are used as laminations on packaging surfaces, providing additional support and protection. They find applications across various industries, including food, pharmaceuticals, and agriculture, due to their ability to prolong the shelf life of perishable goods and protect sensitive items from environmental factors.
Key Market Drivers
Increase in Demand for Polymeric Laminates: The unique barrier qualities of multilayer blown films contribute to their widespread use in food & beverage packaging, ensuring longer shelf life and improved protection.
Rise in Popularity of Coextruded Blown Films: These films are gaining traction in medical and healthcare applications for packaging drugs and sterile goods, offering superior barrier properties and ensuring the integrity of medical supplies.
Expansion in Food Packaging Sector: The growing demand for safe and non-toxic food packaging materials is driving market growth. Multilayer blown films are widely used for their compliance with food safety standards and regulations.
Regional Outlook
Asia Pacific held the largest market share in 2023, driven by the increasing demand for packaged food and ongoing R&D activities. The presence of numerous pharmaceutical companies and the expansion of healthcare infrastructure in emerging economies like China and India further bolster the market. Population growth and changing consumer lifestyles have also contributed to the rise in demand for multilayer blown films in the region. For instance, China's food & beverage industry accounted for a significant portion of global revenue, with production volume increasing by 6.3% in 2021.
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Key Players and Market Developments
Leading companies in the multilayer blown films market include Scientex Berhad, Berry Global Inc., Coveris, Winpak Ltd., Loparex LLC, Proampac LLC, RKW Hyplast NV, Borealis AG, Korozo Ambalaj San.ve Tic A.S., and Next Gen Films Inc. These companies are focused on developing eco-friendly materials and modern designs to cater to evolving consumer needs. Notable developments include Berry Global Group, Inc.'s investment of over US$ 70 million in 2021 to enhance its consumer packaging films segment, supporting the growth of multilayer blown film lines and other infrastructure upgrades.
Market Snapshot
Market Size in 2023: US$ 7.0 billion
Market Forecast (Value) in 2032: US$ 11.3 billion
Growth Rate (CAGR): 4.4%
Forecast Period: 2024-2032
Quantitative Units: US$ billion for Value and Tons for Volume
Regions Covered: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Market Segmentation
Film Type: Shrink Film, Stretch Film, Specialty Film
Material Type: Polyethylene (PE), LDPE, LLDPE, HDPE, EVOH, Polyamide, PVdC, EVA, Polypropylene, Others
Layer Type: 2-Layer, 3-Layer, 5-Layer, 7-Layer, 9-Layer, 11-Layer, Others
Application: Bags, Pouches, Lids, Wraps, Others
End-use: Agriculture, Pharmaceuticals, Food & Beverage, Textile, Consumer Goods, Others
The global multilayer blown films market is set for a promising future, driven by advancements in technology and the growing need for effective packaging solutions across various industries.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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