Wilmington, Delaware, United States, March 14, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global cast films market is expected to advance with a CAGR of 4.4% between 2022 and 2026. This advancement shall elevate the market to US $ 89.3 billion by 2026. It needs to be noted that the market valuation by 2022 was about US $ 75.1 billion. This market group is influenced by various market forces governing the popularity of the subject market.
The foremost ingredient for manufacturing cast films is polypropylene. It possesses excellent transparency, cost-effectiveness, high impact strength, high barrier properties, and heat sustainability. Due to these properties, the material's popularity has been rising, which results in increased manufacturing of the material. This helps the subject market to grow. As a result, polypropylene is a critical driving force for the market under consideration.
Pharmaceutical companies have been preparing transparent packing. This not only enhances the carrying ability but also enables brand visibility. This increases the demand for cast films, thereby propelling the market. This is another crucial market force that helps the subject market to grow.
Download sample PDF copy of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=40625
Like the pharmaceutical industry, the food and packaging industry prefers cast films over rigid packaging materials. This helps the market under consideration to grow significantly.
Despite various other forces helping the market to grow, the outbreak of COVID-19 has proven to be one of the negative impacts on the market that caused the global cast film market to collapse drastically.
Key Findings from the Market Report
- As mentioned before, polyethylene is one of the key market segments in the global cast films market. Due to its negligible weight, it is demanded more by consumers.
- Based on thickness, the subject market can be segmented. The film thicknesses up to 30 microns can absorb moisture and be used in farming.
- Based on the packaging format segment, bags are used widely, fueling the subject market growth.
- The food and beverage industry is the market segment that has been using polythene bags extensively.
Regional Profile
- Portable food is preferred more in North America. This increases the popularity of carry bags. Also, the carrying capacity of carry bags is considered, propelling the market. Hence, it is considered to be one of the largest contributors to the market.
- Europe has a growing medical infrastructure, increasing the popularity of see-through materials. Due to this, it is also one of the crucial contributors to the subject market.
- Apart from this, Latin America and Asia Pacific market contributors to the said market.
Key Developments in the Cast Films Market
- In December 2018, UFlex Ltd. acquired Flex Chemicals. This strategic move helped the organization to diversify its working profile.
- In July 2019, Berry Global, Inc. acquired RPC Group Plc. This helped the organization to lead the plastic and recycled packaging product market.
- In March 2022, Brookfield invested US $ 263 million in Jindal Poly Films. It helped the organization to boost the cast film production.
Competitive Landscape
Various organizations clutter the competitive landscape of the global cast films market.
- Berry Global, Inc. is one of these key players operating in a highly diverse landscape. It offers various plastic tubs, bottles, and other plastic products.
- Further, UFlex Ltd. offers flexible packaging solutions. Moreover, it produces a wide range of flexible laminates and hygiene films. It has gained a decisive edge in injection-molding products.
- Lastly, Jindal Poly Films Limited is profoundly manufacturing PET films, BOPP films, metalized films, etc. It also produces non-tearable paper.
Unlock Growth Potential in Your Industry! Download PDF Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=40625
Key Players
- UFlex Ltd.
- Jindal Poly Films Limited
- Berry Global, Inc.
- Scientex Berhad
- Winpak Ltd.
- Intertape Polymer Group Inc.
- Amcor Plc
- RKW Hyplast Nv
- Clondalkin Group Holdings BV
- Bischof + Klein SE & Co. KG
- Polyplex Corporation Ltd
- Profol Kunststoffe GmbH
- POLIFILM GmbH
- Copol International Ltd.
- Oben Holding Group S.A.C.
Market Segmentation
Material
- Polyethylene
- LDPE
- LLDPE
- Polypropylene
- Polyamide
- Others
Thickness
- Up to 30 Micron
- 30-50 Micron
- 50-70 Micron
- Above 70 Micron
Packaging Format
- Pouches
- Bags
- Laminates
- Wraps
- Labels
Layer Type
- Multi-Layer
- Mono-Layer
End-use Industry
- Food & Beverages
- Personal Care
- Pharmaceuticals
- Electrical & Electronics
- Industrial
- Others
Region
- North America
- Latin America
- Europe
- APAC
- MEA
Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=40625<ype=S
More Trending Reports by Transparency Market Research –
Sustainable Packaging Market - The global sustainable packaging market was valued US$ 252.4 Bn in 2022 and is estimated to grow at a CAGR of 5.8% from 2023 to 2030.
Kraft Paper Market - The Global Kraft Paper Market size stood at US$ 17.3 Bn in 2021. The global industry is anticipated to expand at a CAGR of 3.7% between 2022 and 2026 and reach US$ 20.8 Bn by 2026.
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube
