Apr 11, 2022   SOURCE: BusinessWire

Plastic Films & Sheets Market by Material Type, Applications and Region - Global Forecast to 2026 - ResearchAndMarkets.com

The "Plastic Films & Sheets Global Market" report has been added to ResearchAndMarkets.com's offering.

The global plastic films & sheets market size is projected to reach USD 155.1 billion by 2026 from USD 123.8 billion in 2021, at a CAGR of 4.6% during the forecast period.

LLDPE accounted for the largest share amongst other material types in the plastic films & sheets market

LLDPE accounts for the largest market share of the total market. However, the demand for PA film type is projected to increase at a faster rate in the near future. The market for PA film is driven by its clear and printable thermoplastic nature and other properties such as high melting point, exceptional strength & toughness, and good oxygen barrier. It is also scratch, puncture, and flex-crack resistant and does not dissolve or absorb grease, oil, and acidic food.

Packaging segment accounted for the largest market share amongst applications in the plastic films & sheets market

Based on application, the plastic films & sheets market is segmented into two broad categories, namely, Packaging and Non-Packaging. Packaging segment accounts for the largest market share of plastic films & sheets market. Packaging segment is categorized into food, pharmaceutical & medical, consumer goods, industrial, and other packaging applications, which include tobacco, personal care, and home care packaging. Food packaging accounts for the largest share in the global plastic films & sheets packaging market and it is also projected to account for the largest share in the forecast period. Non-packaging segment includes agriculture, construction, medical & healthcare, and other non-packaging applications such as electronics, automotive, and industrial. Agriculture is the largest application of plastic films & sheets in this segment.

APAC is projected to grow the fastest in the plastic films & sheets market during the forecast period

APAC is the largest market for plastic films & sheets. This large market share is primarily attributed to increasing demand for plastic films & sheets in emerging economies, such as India, China, Indonesia, Malaysia, Vietnam, Singapore, and Thailand, in the region. Moreover, growth in population, increasing urbanization rate, changing trends, and increasing disposable income are driving the consumption of food, particularly, packaged foods. In addition, growth in industrialization, increasing demand due to changing demographics, and government initiatives to attract business investments in various industries including packaging, construction, pharmaceuticals, industrial, and electronics are also driving the market for plastic films & sheets in the region.

Market Dynamics

Drivers

  • Rising Demand for Bi-Axially Oriented Films
  • Increasing Use of Water-Soluble Films in Various End-Use Industries
  • Increased Demand for Bioplastic Materials

Restraints

  • Stringent Regulations
  • Poor Infrastructure Facilities for Recycling
  • Matured Western European Markets

Opportunities

  • Untapped Opportunities in Emerging Markets
  • Positive Outlook for Specialty Films
  • Growing Usage of Plastic Films & Sheets in Agriculture

Challenges

  • Recycling of Plastics

Company Profiles

  • Amcor plc
  • Berry Global Group, Inc.
  • Sabic
  • Toray Industries Inc.
  • Sealed Air Corporation
  • Uflex Ltd.
  • Toyobo Co., Ltd.
  • Jindal Poly Films Ltd.
  • Dupont Teijin Films
  • Oben Holding Group
  • Other Companies
  • Rkw Se
  • Taghleef Industries
  • Tekni-Plex
  • Garware Hi-Tech Films Limited
  • Cosmo Films
  • Novolex
  • Chiripal Poly Films Limited
  • Pt. Trias Sentosa Tbk
  • Altopro, S.A. De C.V.
  • Copol International Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/jbwxuy