Pune, April 06, 2022 (GLOBE NEWSWIRE) -- According to the new report published by The Brainy Insights, the global plastic films market is expected to grow from USD 88.39 billion in 2020 to USD 224.88 billion by 2030, at a CAGR of 6.05% during the forecast period 2021-2030.
Increasing demand for bi-axially oriented polypropylene films and growing demand for bioplastic materials are some of the drivers for the plastic films market.
Get a sample of the report from: https://www.thebrainyinsights.com/enquiry/sample-request/12528
Basically, there is a vast category of plastic raw materials available in the market through which plastic films can be manufactured and produced. Generally, the thickness of plastic films lies between 0.06mm up to 0.25mm even thickness of more than 0.25mm is also considered as plastic film. The plastic films are made up of various plastic materials such as polypropylene, polyethylene, polyvinyl chloride, and various other plastic raw materials. Just like plastic bottles and containers, the plastic film can be made with different resins or pellets, having exceptional combinations of properties that make it ideal for some applications. For instance, low-density polyethylene (LDPE) plastic film acts as a gas barrier, which is used in the packaging food items such as chicken, which would quickly spoil if exposed to oxygen. Similarly, Polyvinyl chloride (PVC) plastic film is gas permeable and are used in the packaging of red meat which requires a little amount of oxygen inside the package in order to remain fresh.
The ongoing demand for plastic films in the food and packaging industry is going to escalate the market growth and development in recent years. This is due to the stringent food safety, security rules and regulations and standard followed necessarily by the food packaging industry, the adoption rate of the plastic films have grown. Also, the rising popularity of BOPP films is going to stimulate the market growth. Because of its excellent thermal insulating properties in comparison with cellophane and waxpaper, BOPP films have been increasingly used by packaging industries. BOPP films are widely used in electronics, food packaging, cosmetics, insulation and other industries.
For more information in the analysis of this report, visit: https://www.thebrainyinsights.com/report/plastic-films-market-12528
Major players in the global plastic films market are Amcor Limited, Bemis Company, Inc., Jindal Poly Films Ltd., Sealed Air Corporation, Toyobo Co., Ltd., AEP Industries Inc., Berry Plastics Group, Inc., RKW SE, Saudi Basic Industries Corporation, Toray Industries, Inc., Uflex Ltd., Inteplast Group Limited, Klöckner Pentaplast Group, Novolex, Polyone Corporation, Printpack Incorporated And Sigma Plastics Group among others. To improve their market position in the global plastic films market, the key players are now concentrating on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
• In July 2019, Berry Global Group, Inc. announced the acquisition of RPC Group Plc (RPC) for a buying price of around USD 6.5 billion. The acquisition focused on the company expansion in Australia with the help of the subsidiaries of RPC Group such as Synergy Packaging.
• In August 2018, Orara Packaging announced the acquisition of Bronco Packaging and Pollock packaging based in Texas. The company acquisition aimed at geographical expansion in North America.
The Biodegradable Plastic Film Segment is Expected to Register the Highest Growth of 6.27% Over the Forecast Time Period.
The type segment is divided into biodegradable films, nanocomposite films, barrier polymer films and water-soluble films. The biodegradable plastic film segment is expected to register the highest growth of 6.27% over the forecast time period. This is due to the sustainability and eco-friendliness of the product as they possess decomposable properties. Further, the stringent regulations formulated by federal agencies and government bodies is propelling the growth of biodegradable plastic films in the food packaging industry.
The LLDPE (Linear Low-Density Polyethylene) segment dominate the market with a market value of 38.01 Billion in 2020.
The material segment includes HDPE (high density polyethylene), LDPE (low density polyethylene), LLDPE (linear low density polyethylene), PET (polyethylene terephthalate), PVC (polyvinyl chloride), PP (polypropylene) and others. The LLDPE (Linear Low Density Polyethylene) segment is dominating the market with a market value of USD 38.01 Billion in 2020. This is due to its demand by various industry sector, which includes pharmaceutical packaging and pouches for food products, as it has high durability and source reduction properties. Additionally, PP (Polypropylene) segment is expected to register the highest growth in the future.
Food Packaging segment dominates the market
The end-user segment is divided into food packaging, pharmaceutical & medical packaging, consumer goods, industrial packaging, agriculture, construction and others. The food packing industry is going to dominate the market. This is because most of the application of the plastic films are used in the food industry.
Regional Segment Analysis of the Plastic films Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
Enquire before purchasing this report @ https://www.thebrainyinsights.com/enquiry/buying-inquiry/12528
Asia Pacific region is accounted to have the largest market value of USD 35.09 Billion in 2020. This is because of the present living standards of the people across the globe. Also, the rise in disposable income of the people boosting the market growth. The global plastic film market in Middle East & Africa region is expected to witness sluggish growth due to its modest demand for plastic films in agricultural and electrical industry sectors. The majority of African countries are dependent on the agriculture sector. The agricultural firms have started using plastic films owing to the preservation of better quality of crop production.
About the report:
The global plastic films market is analyzed on the basis of value (USD billion), volume (Kilotons), import (Kilotons), export (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
To purchase research report: https://www.thebrainyinsights.com/buy-now/12528/single
About the report:
The global nueropathic pain market is analysed on the basis of value (USD Billion).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
