Plastic Films Market - Overview
Global Plastic Films Market Size is increasing with the rapid growth; mainly due to the flourishing packaging industry. According to a recent study report published by the Market Research Future, The global market of Plastic Films is increasing and expected to witness influence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).
Globally, the market for Plastic Films is driven by the region Asia pacific, owing to the rise in the demand for packaging materials in construction and food packaging industries. The role of packaging importance in the food industry, where developments in packaging have been an important driver in helping to reduce the proportion of fresh produce significantly, that is wasted in the supply chain. Plastic Film properties range from soft to high tensile strength, very flexible to rigid, clear and opaque, and apart from them, glossy, good tear resistance, good moisture barrier, impact strength, better heat sealing capacity and excellent weathering properties.
Packaging industry, over the forecast period is driven by reduction of weight and volume, waste-to-landfill and degradability of the Plastic Films. Moreover, the packaging materials has a lower environmental footprints with respect to resources used in the production as well as emissions to air and water.
Plastic Film materials such as polyethylene, polypropylene, polyester, nylon, and polyvinyl chloride range from economical to costlier materials but they are capable to store and protect more efficiently than aluminium foil packaging.
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Polyester Plastic Film is widely used Plastic Films material and followed by polyvinyl chloride. Polyester Film is crystal clear thermoplastic produced from polyethylene terephthalate (PET). In comparison with other Plastic Films, PET film has high tensile strength, high performance, good dimensional stability, and low moisture and heat retention capacity over a wide temperature range. It also has superior UV resistance and excellent electrical properties. Because of its higher price relative to PVC, PE, and PP film, it is generally considered a specialty film.
Plastic films Market - Competitive Analysis
The Plastic Films Market appears to be less competitive with the presence of only few major global chemicals and materials manufacturers operating in the Plastic films Market. Presence of few key players will lead to monopoly situation and also competitive edge in innovation and technology is expected to be indelicate. As these materials are pricing at higher costs in the current markets and increasing demand for Plastic Films materials in food & beverage and construction industries will influence the end user products from these industries. Plastic Films Market demonstrates a high growth potential as the demand for these materials is increasing other key players are likely to invest in opening new production capacities to meet the global demand with better solutions.
Industry/ Innovation/ Related News:
November 2017 – Amcor Limited (U.S.), is global leader manufacturer of plastic films, has announced that, company was honoured by a trade group and two companies are being recognized by the Plastics division of the American Chemistry Council for their work when it comes to plastics recycling. The Innovation in Plastics Recycling Awards for 2017 are going to Amcor, the Association of Plastic Recyclers and Procter & Gamble, the ACC said.
Amcor, the packaging giant, is being recognized for creation of a mono-material plastic pouch that contains 20 percent post-consumer recycled content. The pouch features the How2Recycle label, which educates consumers about how to recycle various packaging materials, including plastics. By this idea, the company positions itself ahead in the race for reducing and recycling the plastic waste owing to the rising environmental regulations and policies.
September 2017 – The Dow Chemical Company (U.S.) a global manufacturer of polyurethane foams, is planning to deploy its new speciality polyethylene resin manufacturing unit at Freeport, Texas. Company is intended to be the major plastics film manufacturer in market pie. The new unit will have production of almost 900 million pounds of Elite brand enhanced polyethylene and more than 3 billion pounds of polyethylene capacity is to added to that production capacity. With the opening of this new production capacity, many plastic packaging industries around this area are expected to benefit and such a huge production also enables the trade route to nearby countries such Mexico.
COVID-19 Study in Detail:
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