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The plastic films market is shaped by numerous factors that influence its dynamics and growth. One of the primary drivers of this market is the versatility and wide range of applications of plastic films across various industries. Plastic films are used extensively in packaging, agriculture, construction, healthcare, and automotive sectors due to their lightweight, flexible, and protective properties. From food packaging to greenhouse covers, plastic films offer cost-effective solutions for protecting and preserving products, enhancing shelf life, and providing barrier protection against moisture, oxygen, and contaminants. As industries continue to seek efficient and innovative packaging and protective solutions, the demand for plastic films remains consistently high, driving growth within the market.
Moreover, technological advancements play a significant role in shaping market dynamics within the plastic films industry. Continuous innovations in polymer chemistry, extrusion technologies, and film processing techniques have led to the development of high-performance plastic films with improved mechanical properties, optical clarity, and barrier performance. Advanced additives and coatings enable plastic films to meet specific requirements such as UV resistance, antistatic properties, and antimicrobial properties, expanding their range of applications. Additionally, developments in recycling technologies and sustainable materials contribute to reducing the environmental impact of plastic film production and increasing their eco-friendliness. These technological advancements drive product innovation and differentiation, enabling manufacturers to cater to evolving customer needs and market trends. The Plastic films market value is predicted to grow at a decent rate during the ongoing forecast period of 2021-2028. The market is driven by factors like increasing applications in market sectors like food and pharmaceutical packaging. The market products like plastic films and sheets are known to be made of polyethylene and polypropylene.
Furthermore, market factors such as raw material prices and availability significantly influence the plastic films market. Plastic films are predominantly manufactured from petrochemical-derived polymers such as polyethylene (PE), polypropylene (PP), and polyvinyl chloride (PVC), which are subject to fluctuations in crude oil prices and supply-demand dynamics. Changes in oil prices, geopolitical tensions, and production capacity affect the cost of raw materials and, consequently, the pricing of plastic films. Additionally, supply chain disruptions, natural disasters, and trade policies impact the availability and pricing of polymer resins, influencing production costs and market dynamics.
Regulatory requirements and sustainability initiatives also play a crucial role in shaping market factors within the plastic films industry. Governments and regulatory bodies impose regulations and standards governing plastic production, usage, and disposal to address environmental concerns and promote sustainability. Regulations such as bans on single-use plastics, restrictions on plastic packaging, and mandates for recycled content drive changes in consumer preferences and industry practices. Moreover, sustainability initiatives such as extended producer responsibility (EPR) programs, circular economy strategies, and eco-labeling programs incentivize the adoption of sustainable practices and materials in the plastic films industry. Manufacturers are increasingly investing in recycling technologies, bio-based materials, and eco-friendly packaging solutions to comply with regulations and meet consumer demand for environmentally friendly products.
Changing industry trends and consumer preferences also influence market dynamics within the plastic films market. Consumers are becoming increasingly conscious of environmental issues, plastic pollution, and product safety, leading to a growing demand for sustainable and recyclable packaging solutions. As a result, there is a shift towards bio-based and compostable plastic films that offer environmental benefits and meet regulatory requirements. Moreover, industry trends such as lightweighting, packaging optimization, and digital printing drive innovation and product development within the plastic films market. Manufacturers are exploring new applications, formulations, and processing techniques to address market trends and gain a competitive edge.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 83.88 billion |
| Growth Rate | 5.00% (2024-2032) |
Plastic Films Market Highlights:
Global Plastic Films Market Overview
Plastic films market size was valued at USD 79.89 billion in 2021. The plastic films industry is projected to grow from USD 83.88 Billion in 2022 to USD 118.03 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2022 - 2030).Increase in the need for bi-axially oriented plastic films and the rise in the demand for bio plastic materials are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Plastic Films Market Trends
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Rising demand for bi-axially oriented films to boost market growth
The demand for plastic films has grown in recent years due to its demand in the agriculture sector. Greenhouses are constructed with the use of plastic films. Plastic films are also used in the making of the covers of the low tunnels. It is also used in the construction of walk-in tunnels. Plastic films which have multiple holes and rows are used in the agricultural sector for the better development and growth of plants. These plastic films are waterproof, durable, and lightweight and the market is expected to grow during the forecast period. In recent years there have been changes in the consumption pattern and the demand for different types of processed foods will drive market growth for plastic films in the coming years.
Additionally, Bi-axially oriented films have unique properties which allows it to stretch in two distinctive directions. Orientation creates various changes in the property of the film such as high stiffness, lower elongation, and lustrousness. BOPP films are used in electrical & electronics, packaging, imaging, graphics, and industrial specialty applications. The rising demand of bi-axially oriented films encouraged a number of plastic film manufacturers to divert their manufacturing efforts and invest in bi-axially oriented film. Food packaging is the largest application of these films. Thus, with the growth of the food packaging industry in the developing countries, the demand for bi- axially oriented films has increased. It is the most preferred material for food packaging as it is non-toxic and acts as a barrier to aroma. Bi-axial films are stretched in both machine direction (MD) and transverse direction (TD) to design it with better mechanical, optical, and barrier properties has enhanced the plastic films market CAGR across the globe in the recent years.
However, technological advancements associated with plastics and rising investments in R&D have been observed. Increasing environmental awareness and concerns regarding packaging waste has resulted in modified buying habits of consumers. Brands are also introducing sustainable packaging solutions and biodegradable & water-soluble films to address environmental concerns is another factor driving the growth of the plastic films market revenue.
Plastic Films Market Segment Insights
Plastic Films Technology Insights
The plastic films market segmentation, based on technology, includes blown film technology, cast film technology, double & multi-bubble technology, barrier film and others. The blown film technology segment held the majority share in 2021 to the plastic films market revenue. This is primarily owing to the huge demand for efficient packaging solutions across numerous industries and the growing need for FMCG (Fast Moving Consumer Goods) among the consumers. However, cast film technology is the fastest-growing market due to increase in the demand for high-performance barrier materials, such as cast films. The requirement for high-quality cast plastic films is growing due to the regulation of governing bodies and environmental organizations for packaging industry.
Plastic Films Material Type Insights
The Plastic Films market segmentation, based on Material Type, includes LLDPE, LDPE, HDPE, polypropylene, and PET. The LDPE segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Properties of LDPE film include flexibility, higher tensile strength as well as higher puncture and impact resistance. Features of LDPE include a low barrier and high clarity, it is also among the least expensive among all packaging plastic films, which acts as a major contributor to its demand in the market growth. However, HDPE is the fastest-growing category as this product is resistant to corrosion and resistant to chemicals it will have a good amount of demand in the coming years. The friction coefficient of this product is less and also has better electrical properties. It is resistant to odor and moisture do to which its demand in various industries is expected to grow in the coming years.
Plastic Films Application Insights
The plastic films market data has been bifurcated by application into packaging consumer goods, agriculture, and construction. The packaging consumer goods segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The use of plastic films has become popular in the packaging industry due to the changes in the lifestyle of people. The growing need for sustainability will help in creating more demand for these products. However, construction is the fastest-growing category as these products are used in the construction sector as they are durable and non-corrosive. These products are cheaper as compared to the other products available in the market. These products provide insulation therefore it will be used in the construction industry.
Figure 1: Plastic Films Market, by Application, 2021 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Plastic Films Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific plastic films market accounted for USD 33.63 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is due to the growth of the food and beverages industry and the growth of the pharmaceutical industry in the region the demand for plastic films is expected to grow in the coming years. Moreover, China plastic films market held the largest market share, and the India plastic films market was the fastest growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: PLASTIC FILMS MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe plastic films market accounts for the second-largest market share due to the increasing R&D expenditure on the pharmaceutical industry in Europe is expected to indirectly fuel product demand. Further, the Germany plastic films market held the largest market share, and the UK plastic films market was the fastest growing market in the European region
The North America plastic films market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the growing population and disposable income of the various consumers in the region have led to the development of the plastic films in this region. Moreover, China plastic films market held the largest market share, and the India plastic films market was the fastest growing market in the North America region
Plastic Films Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the plastic films market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the plastic films industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the plastic films industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. The plastic films market major player such as Toray Industries, Inc. (US), DuPont (US), Amcor plc (Switzerland), and others are working to expand the market demand by investing in research and development activities.
Sukano is a plastic company. It develops and produces additive and color masterbatches and compounds for polyester and specialty resins. The company's products are used bottles, containers, thin plastic films and coatings, plastic films, and other applications. Sukano Polymers serves customers in the State of South Carolina. In October 2022, Sukano partnered with chemicals manufacturer Emery Oleochemicals to develop a transparent PET antifogging compound for food contact PET packaging, aiming to combat the necessity of extra antifogging coatings. Designed for rigid and oriented Coex films, the material contains Sukano’s co-polyester compound in one cap layer of a film extrusion line A/B structure and PET as a core layer.
Also, Innovia Films Limited provides packaging and labelling solutions. The Company manufactures clear, white, cavitated, and metallised films for tobacco, beer, wine, bakery, confectionery, cosmetics, household, personal care, food packaging, and pharmaceutical markets. Innovia Films serves clients worldwide. In June 2022, Innovia Films has launched RayoWrap CMS transparent BOPP film for shrink, wraparound label applications. Produced at its UK production facility, CMS30 provides high shrinkage. The technical performance of CMS30 means it performs at every stage of the value chain, from the ease of printing, through high-speed roll-fed wraparound labeling, to the all-important end-of-life and recycling of the packaging.
Key Companies in the Plastic Films market includes
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The Dow Chemical Company
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Honeywell International Inc.
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Mitsubishi Chemical Holdings Corporation
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Saudi Basic Industries Corporation (SABIC)
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Evonik Industries AG
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Eastman Chemical Company
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Amcor Limited
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Berry Plastics Corporation, among others
Plastic Films Industry Developments
In October 2022, Saudi Arabia's Gulf Packaging Industries will be the leading BOPP film producer across the Middle East. The company has a portfolio of more than 100 films for applications, such as labels, flexible packaging and graphics arts. Dubai Exhibition Center will feature the promotion of their BOPP films for labels at Labelexpo India 2022 booth N11, Hall 7. Films for IML (in-mold labeling) will be introduced at this exhibition by Gulf Packaging Industries.
October 2022: AJ Plast, based in Bangkok, Thailand, is among the top film producers whose association with Bruckner Maschinenbau is one of the longest in the BO industry. This was revealed during the K exhibition after AJ announced its latest production line of fifteen films, which Bruckner had contracted. It is a five-layer ten point four meters BOPP line with a line speed of six hundred meters per minute and an hourly output of seven point five tonnes.
June 2022: Innovia Films has released RayoWrap CMS transparent BOPP film targeting shrink, wraparound label applications. It has been produced in a UK manufacturing facility, while CMS30 offers a high degree of shrinkage. Such technical performance means that CMS30 works well throughout each stage, starting from printability to high-speed roll-fed wraparound labeling and, finally, end-of-life aspects like recycling.
In March 2020, Marubeni worked with Smart Plastic and Plaskolite to manufacture thermoplastic sheets amidst the COVID-19 pandemic that were used to address safety concerns during the COVID-19 outbreak. Protective partitions were designed using OPTIX acrylics, VIVAK PETGs and TUFFAK polycarbonates, protecting both customers and employees.
June 2022: VTT came up with a see-through cellulose film intended for food packaging instead of traditional plastic alternatives, this was in June 2022. The goal behind the introduction of this cellulose film is to develop biobased and biodegradable food packaging solutions.
Amoor has disclosed a strategic move to acquire Phonix Flexibles in August 2023, which will enhance its production capabilities within the growing Indian market. Consequently, this will offer great opportunities for Amcor's future growth and will immediately enable it to meet persistent high demand.
Plastic Films Market Segmentation
Plastic Films Technology Outlook
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Blown Film Technology
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Cast Film Technology
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Double & Multi-bubble Technology
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Barrier Film
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Others
Plastic Films Material Type Outlook
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LLDPE
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LDPE
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HDPE
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Polypropylene
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PET
Plastic Films Application Outlook
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Packaging Consumer Goods
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Agriculture
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Construction
Plastic Films Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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