Portland, OR, June 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global polyethylene film market generated $82.6 billion in 2020, and is projected to reach $128.2 billion by 2030, growing at a CAGR of 4.5% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Significant surge in the application of polyethylene films in various industries such as construction, food & beverage, and others and remarkable properties of polyethylene films such as lightweight, flexible, glossy finish, moisture resistance are expected to drive the growth of the global polyethylene films market. Moreover, the extensive use of multi-layer polyethylene films in the agricultural sectors for crop protection in harsh climatic conditions supplements the market growth. On the other hand, wide application of paper packaging films over polyethylene films due to environmental regulations & constraints is expected to hinder the growth to some extent. However, increase in use of PE films as vapor retarder, window film, counter top protection, and roofing solutions is expected to create tremendous opportunities for the industry.
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COVID-19 Scenario
- The outbreak of COVID-19 has had a negative impact on the growth of the global polyethylene films market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns resulted in the closure of various industries such as food & beverage, construction, transportation, packaging, automotive, and others, which, in turn, led to the decreased demand for polyethylene films.
- This was majorly due to the stringent social distancing restrictions imposed by the government so as to curb the spread of the virus during the pandemic.
- However, the market is expected to recoup soon.
The report offers a detailed segmentation on the global polyethylene films based on type, technology, material, application, and region.
Based on type, the stretch films segment held the largest market share in 2020, garnering nearly three-fourths of the global market. In addition, the same segment is expected to cite the fastest CAGR of 4.6% during the forecast period. Remaining segment analyzed in the report include shrink films and others.
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Based on material type, the LLDPE segment held the majority market share in 2020, holding nearly half of the global market. The HDPE segment, on the other hand, is predicted to exhibit the fastest CAGR of 4.9% during the forecast period.
Based on region, the Asia-Pacific region held the lion’s share in 2020, garnering nearly half of the global market. In addition, the same segment is expected to cite the fastest CAGR of 5.0% during the forecast period. Other regions analyzed in the market include Europe, North America and LAMEA.
The key players analyzed in the global polyethylene films market report include Amcor Ltd., Berry Global Inc., Constantia Flexibles Group GmbH, Klockner Pentaplast Group, Printpack Inc. RKW Group, Inteplast Group, Sealed Air Corporation, Sumitomo Bakelite Co., Ltd., and Toray Industries Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
