The report “Plastic Films & Sheets Market by Type (LLDPE, LDPE, HDPE, BOPP, CPP, PVC, PES, PA), Application (Stretch Films, Shrink Films, Bags, Pouches, Wraps), End-use industry (Packaging, Non-packaging), and Region – Global Forecast to 2028″, is projected to reach USD 182.5 billion by 2028, at a CAGR of 5.4% from USD 140.0 billion in 2023. The plastic films & sheets market is mainly driven by the increased demand across various end-use industries Moreover, it is also driven by rapid globalization & urbanization.
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- 300 Market data Tables
- 110 Figures
- 250 Pages and in-depth TOC on “Plastic Films & Sheets Market – Global Forecast to 2028″
Some of the prominent key players are:
- Amcor PLC (Switzerland)
- Berry Global Group, Inc. (US)
- Sabic (Saudi Arabia)
- Toray Industries, Inc. (Tokyo)
- Sealed Air Corporation (US)
- Uflex (India)
- Toyobo Co. Ltd. (Japan)
- Jindal Poly Films Ltd. (India)
- Dupont Teijin Films (US)
- Oben Holding Group (Peru)
Driver: Rising demand for bi-axially oriented films
Bi-axially oriented films have unique properties which allows it to stretch in two distinctive directions. Orientation creates various changes in the property of the film such as high stiffness, lower elongation, and lustrousness. BOPP films are used in electrical & electronics, packaging, imaging, graphics, and industrial specialty applications. The rising demand of bi-axially oriented films encouraged a number of plastic film manufacturers to divert their manufacturing efforts and invest in bi-axially oriented film. Food packaging is the largest application of these films. Thus, with the growth of the food packaging industry in the developing countries, the demand for bi-axially oriented films has increased. It is the most preferred material for food packaging as it is non-toxic and acts as a barrier to aroma. Bi-axial films are stretched in both machine direction (MD) and transverse direction (TD) to design it with better mechanical, optical, and barrier properties.
Restrain: Matured western European markets
The plastic films and sheets market in Western Europe registered a slow growth during the last five years. This was primarily due to the maturing markets in big economies such as Germany, France, Italy, and the UK. Both PE and PP film industries experienced a slow growth in Western Europe during the last decade. Moreover, the financial turmoil in Italy resulted in a decline in demand for packaged food, which in turn affected growth of the plastic films and sheets market in the country. Similarly, France and the UK also registered slow growth in the demand for films.
APAC is projected to grow the fastest in the gas separation membranes market during the forecast period.
APAC is the largest & fastest-growing market for plastic films & sheets. This growth is primarily attributed to increasing demand for plastic films & sheets in emerging economies, such as India, China, Indonesia, Malaysia, Vietnam, Singapore, and Thailand, in the region. Moreover, growth in population, increasing urbanization rate, changing trends, and increasing disposable income are driving the consumption of food, particularly, packaged foods. In addition, growth in industrialization, increasing demand due to changing demographics, and government initiatives to attract business investments in various industries including packaging, construction, pharmaceuticals, industrial, and electronics are also driving the market for plastic films & sheets in the region.
