Plastic films: Key market research findings
- Increased use of biodegradable films
- Increased usage of linear low-density polyethylene (LLDPE)
Technavio has released a new market research report on the global plastic film market, which is expected to grow at a CAGR of 5% between 2016 and 2020. The growing use of plastic films in food and beverages packaging and industrial applications and the growing market in APAC offers vast opportunities to the global plastic films market in the coming years. This market is primarily driven by the surging demand for packaging films from end-users, such as the electronics, food and beverages, and pharmaceuticals industries, owing to their easily recyclable nature. Polyethylene and polypropylene are the highest selling packaging films in the market. APAC leads the global plastic film market owing to increased demand for packaged food products and consumer goods.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the latest trends in this market is the emergence of green plastics, which are biodegradable, less toxic and are easily decomposed by microorganisms. With increased awareness about environment and several compliance regulations, consumers are opting for eco-friendly packaging. This has pushed plastic packaging film manufacturers to increase the use of biodegradable materials such as polyvinyl alcohol, polyanhydrides, and polylactic acid in packaging,” says
The global plastic films market is witnessing increased use of LLDPE because of its flexibility. Compared to LDPE, LLDPE has improved mechanical strength, conformability, and excellent optical strength. LLDPE is used in making films that require high strength to absorb impact while avoiding puncture or tearing. LLDPE is widely used in the production of plastic films, molds, and sheets. Being thinner film, it provides 10%-15% cost saving to the end users. The 63-gauge film incorporates PP and metallocene LLDPE to maintain performance at lower thickness level.
The key vendors in the global plastic film market include AEP Industries, Amcor, Berry Plastic, British Polythene Industries, and Jindal. The market is highly fragmented because of the presence of many multinational, regional, and local vendors. It is characterized by the presence of diversified companies at local, regional, and international levels. The global players will witness inorganic growth during the forecast period by acquiring regional or local players. The vendors are finding huge scope for innovation with an increase in beverage consumption along with the growth of the consumer and retail industry.
A more detailed analysis is available in the Technavio report, Global Plastic Film Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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