Dublin, March 20, 2024 (GLOBE NEWSWIRE) -- The "Polyethylene Lamination Films Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The global polyethylene lamination films market has grown strongly in recent years, from $1.31 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 6%.
The expansion observed in the historical period can be credited to several factors within the packaging industry. These include the evolution of packaging practices, an upsurge in the demand for flexible packaging solutions, consumer inclinations favoring lightweight packaging options, the cost-effectiveness of such solutions, and the inherent barrier properties essential for preserving product integrity.
The global polyethylene lamination films market is expected to see continued strong growth in the next few years, reaching $1.76 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The anticipated growth in the upcoming period can be linked to a heightened emphasis on sustainable packaging practices, continuous advancements in material science, the burgeoning e-commerce sector, adherence to regulatory standards, and a rising demand for extended product shelf life.
Key trends expected in the forecast period encompass a dedicated focus on extending product shelf life, innovative developments in barrier films, a surge in demand for recyclable and compostable film alternatives, and a notable inclination towards customization and printability features in packaging solutions.
The growth projection for the polyethylene lamination films market is strongly tied to the expanding e-commerce sector. This realm comprises companies engaged in online buying and selling activities. As products in e-commerce transactions require packaging, the surge in this sector significantly fuels the demand for polyethylene lamination films. Notably, the UN reported a notable increase in the global e-commerce sector's share of retail sales, rising from 16% to 19% in 2020. Additionally, UNCTAD observed a substantial 95.6% surge in sales for e-commerce giant Shopify, reaching $120 billion in 2020-21. Thus, the escalating e-commerce sector emerges as a driving force behind the polyethylene lamination films market's growth.
Anticipated growth in construction activities is poised to propel the polyethylene lamination film market. Construction endeavors encompass various processes involved in erecting buildings, infrastructure, and industrial facilities, necessitating durable and weather-resistant solutions like polyethylene lamination films. These films play pivotal roles in moisture protection, insulation, and surface finishes, enhancing the longevity and performance of construction materials. Projections from Oxford Economics estimated a global construction output of $10.7 trillion in 2020, with an anticipated 42% increase to reach $15.2 trillion between 2020 and 2030. Hence, escalating construction activities drive the growth of the polyethylene lamination film market.
Technological advancements are a prevailing trend shaping the polyethylene lamination films market. Major companies within this sector are deeply invested in developing innovative technological solutions to fortify their market presence. For example, POLIFILM EXTRUSION, in February 2022, introduced a self-laminating polyethylene (PE) film activated by corona treatment, eliminating the need for additional adhesive. This advancement raises the standard of laminating films by enhancing recyclability, streamlining processing time to just one hour, and eliminating the need for a separate laminating machine, thus fostering sustainability.
Leading companies in the polyethylene lamination films market are intensifying their focus on introducing high-performance polyethylene films like Exceed S to gain a competitive edge. ExxonMobil's launch of Exceed S Performance Polyethylene (PE) Resins in April 2022 exemplifies this strategy. This resin offers superior processability, toughness, and seal strength, catering to diverse flexible packaging needs. The Exceed S platform delivers performance enhancements, enables film redesign for simplicity without compromising quality, and facilitates the production of more durable mono-material products or those with high recycled content. This product specifically ensures low melt pressure and high output on blown film lines, simplifying usage while maintaining superior performance.
The realm of polyethylene lamination films, two primary types exist such as stretch films and shrink films. Stretch film, a thin and flexible plastic film, is applied around items to enable their expansion. This type utilizes various materials including low-density polyethylene (LDPE), high-density polyethylene (HDPE), bio polyethylene films, medium-density polyethylene films (MDPE), and linear low-density polyethylene (LLDPE). Packaging formats encompass bags, bottles, containers, pouches, and tubes, catering to diverse industries such as food and beverages, agriculture, electronics, personal care and cosmetics, construction, households, and more
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Report Scope
Markets Covered:
- By Type: Stretch Films; Shrink Films
- By Material: Low Density Polyethylene (LDPE); High Density Polyethylene (HDPE); Bio Polyethylene Films; Medium Density Polyethylene Films (MDPE); Linear Low-Density Polyethylene (LDPE)
- By Packaging Type: Bags; Bottles; Containers; Pouches; Tubes
- By Application: Food and Beverages; Agriculture; Electronics; Personal Care and Cosmetics; Construction; Household; Other Applications
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Companies Profiled
- Jindal Poly Films Limited
- Constantia Flexibles Group GmbH
- Cosmo Films Limited
- Coveris Holdings SA
- D&K Group
- Film & Foil Solutions Ltd.
- Granitol AS
- IG Industrial Plastics LLC
- Mondi PLC
- Poligal SA
- Schweitzer-Mauduit International Inc.
- Taghleef Industries LLC
- Uflex Limited
- Ultralen Film GmbH
- The Dow Chemical Company
- Polibak Plastik Film Sanayi ve Ticaret A.S.
- Sealed Air Corporation
- 3M Company
- Amcor Limited
- American Profol Inc.
- Bemis Company Inc.
- Berry Global Inc.
- Flex Films Inc.
- Futamura Chemical Co. Ltd.
- Glenroy Inc.
- Innovia Films Ltd.
- Mitsubishi Chemical Corporation
- Plastopil Hazorea Company Ltd.
- Polifilm Extrusion GmbH
- Polyplex Corporation Limited
- RKW Group
- Schur Flexibles Group
- Toray Plastics (America) Inc.
- Winpak Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/675j9t
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