FEATURED COMPANIES
- Berry Global Group, Inc.
- FSPG Hi-Tech CO. LTD.
- Inteplast Group, Ltd.
- Nylex (Malaysia) Berhad
- PT Trias Sentosa Tbk
- Sealed Air Corporation
Global Plastic Films Market to Reach US$142.7 Billion by the Year 2026
Plastic films, used for packaging of both food and non-food products, apart from various other plastic products, is the largest sub-sector of the plastics processing industry. Apart from packaging applications, plastic films are also used in construction, agriculture, healthcare and other non-packaging application areas. Growth in the global market is being spurred by the surge in demand for biodegradable plastic films along with the growing use of different plastic films like polystyrene, polyethylene terephthalate, high-density polyethylene, cellulose acetate, low-density polyethylene films in various packaging and non-packaging applications. Market growth is likely to be augmented by several factors like advanced decorative laminates; use of plastic as a popular substitute for metal and glass; rising demand for flexible food packaging materials to ensure food safety and hygiene; soaring demand for PVC, PP, and PET decorative laminates; along with consumer shift towards sustainable and environmentally friendly products. Manufacturers in emerging countries are prioritizing product differentiation by offering a range of plastic film types for industrial applications, decoration, and packaging. High growth in food packaging as well as healthcare industries is driving expansion in the plastic straps market, which in turn, is augmenting market growth. In addition, the thriving agriculture sector is also anticipated to drive significant growth in the market. Widespread plastic film usage in the consumer goods sector to package cosmetics, personal hygiene products, household cleaners, shampoo, along with laundry and dish detergents is also likely to spur growth in the market.
Amid the COVID-19 crisis, the global market for Plastic Films estimated at US$108.6 Billion in the year 2020, is projected to reach a revised size of US$142.7 Billion by 2026, growing at a CAGR of 4.6% over the analysis period. LLDPE, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach US$50.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the LDPE segment is readjusted to a revised 4.8% CAGR for the next 7-year period. This segment currently accounts for a 23.1% share of the global Plastic Films market. Linear low-density polyethylene or LLDPE has effectively replaced high-density polyethylene, cellulose acetate, low-density polyethylene, among other types of films because of its superior tensile strength along with remarkable puncture and impact resistance. LLDPE is popularly used in numerous film applications like general purpose film, agricultural film, stretch film, and apparel packaging, among others.
The U.S. Market is Estimated at $21.1 Billion in 2021, While China is Forecast to Reach $24.6 Billion by 2026
The Plastic Films market in the U.S. is estimated at US$21.1 Billion in the year 2021. The country currently accounts for a 18.74% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$24.6 Billion in the year 2026 trailing a CAGR of 5.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR while Rest of European market (as defined in the study) will reach US$25.8 Billion by the end of the analysis period. Adoption in emerging markets especially in Asia-Pacific is mainly supported by strong growth in population, which translates to surging demand for packaged products including packaged food, and pharmaceuticals. Also, the increase in large-scale retail chains like hyper markets adds to the demand for these products, due to focus on reducing costs and increasing shelf life of various products. Demand in established markets such as North America, Western Europe, particularly in the food packaging sector, is being fostered by time constraints among customers, which has led to increased demand for products such as microwavable meals, compartmental packaging, multipacks, flexible pouches, and flow-wraps.
HDPE Segment to Reach $20.2 Billion by 2026
The good moisture barrier performance of HDPE films makes these films an ideal choice to package breakfast cereals, particularly flakes. Consistent growth in the market for quick, but nutritious breakfast items is likely to drive demand for HDPE films. In the global HDPE segment, USA, Canada, Japan, China and Europe will drive the 3.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$11.2 Billion in the year 2020 will reach a projected size of US$14.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.8 Billion by the year 2026, while Latin America will expand at a 3.7% CAGR through the analysis period.
Select Competitors (Total 399 Featured) -
- Berry Global Group, Inc.
- DuPont Teijin Films
- FSPG Hi-Tech CO. LTD.
- Garware Hi-Tech Films Limited
- Innovia Films Limited
- Inteplast Group, Ltd.
- Jindal Poly Films Ltd.
- Nylex (Malaysia) Berhad
- Paragon Films, Inc.
- PT Argha Karya Prima Industry Tbk
- PT Trias Sentosa Tbk
- RKW SE
- SABIC Innovative Plastics US LLC
- Sealed Air Corporation
- Sumitomo Bakelite Company Limited
- Taghleef Industries Group
- Toray Plastics (America), Inc.
- Toyobo Co., Ltd.
- Uflex Limited
- Vibac Group S.p.a.
Frequently Asked Questions about the Global Market for Plastic Films
What is the estimated value of the Global Market for Plastic Films?
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Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Berry Global Group, Inc.
- FSPG Hi-Tech CO. LTD.
- Inteplast Group, Ltd.
- Nylex (Malaysia) Berhad
- PT Trias Sentosa Tbk
- Sealed Air Corporation
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
Note: Product cover images may vary from those shown
A selection of companies mentioned in this report includes:
- Berry Global Group, Inc.
- DuPont Teijin Films
- FSPG Hi-Tech CO. LTD.
- Garware Hi-Tech Films Limited
- Innovia Films Limited
- Inteplast Group, Ltd.
- Jindal Poly Films Ltd.
- Nylex (Malaysia) Berhad
- Paragon Films, Inc.
- PT Argha Karya Prima Industry Tbk
- PT Trias Sentosa Tbk
- RKW SE
- SABIC Innovative Plastics US LLC
- Sealed Air Corporation
- Sumitomo Bakelite Company Limited
- Taghleef Industries Group
- Toray Plastics (America), Inc.
- Toyobo Co., Ltd.
- Uflex Limited
- Vibac Group S.p.a.
Note: Product cover images may vary from those shown