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Plastic Films - Global Market Trajectory & Analytics

  • ID: 338621
  • Report
  • February 2022
  • Region: Global
  • 948 Pages
  • Global Industry Analysts, Inc

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?

The Global Market for Plastic Films was estimated to be valued at $108.6 Billion in 2020.

What is the growth rate of the Global Market for Plastic Films?

The growth rate of the Global Market for Plastic Films is 4.7%, with an estimated value of $142.7 Billion by 2026.

What is the forecasted size of the Global Market for Plastic Films?

The Global Market for Plastic Films is estimated to be worth $142.7 Billion by 2026.

Who are the key companies in the Global Market for Plastic Films?

Key companies in the Global Market for Plastic Films include Berry Global Group, Inc., DuPont Teijin Films, FSPG Hi, Tech CO. LTD., Garware Hi, Tech Films Limited, Innovia Films Limited, Inteplast Group, Ltd. and Nylex (Malaysia) Berhad.
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

  • Influencer Market Insights
  • World Market Trajectories
  • Plastic Films - Global Key Competitors Percentage Market Share in 2022 (E)
  • A Prelude to Plastic Films
  • Impact of Covid-19 and a Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • COVID-19 Brings About Significant Changes to Plastic Usage Trends
  • Pandemic Soars Demand for Stretch and Shrink Films
  • Global Market Prospects and Overview
  • Global Plastic Films Market Set for a Rapid Growth
  • Food Packaging Accounts for the Largest End-use Market for Plastic Films
  • Polyethylene Films Contribute for a Significant Share
  • Regional Market Analysis
  • Asia-pacific To Spearhead Market Growth
  • Competition
  • Recent Market Activity
  • WORLD BRANDS
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Growing Food Processing Industry Presents Opportunities for Plastic Films
  • Freshness Keeping Films Bank on Changing Lifestyles
  • High Pressure Processing Drives Demand for Innovative Films
  • Increasing Demand of Packaged Food Offers Potential Growth
  • High Barrier Films Witness Increased Demand
  • Growing Demand for Fresh and Safe Food Drives Innovations in High Barrier Films
  • Increasing Demand for Flexible Packaging Spurs Market Growth
  • Eco-friendly (Bio-Degradable) Films Gain Popularity
  • Changing Lifestyles Spur Demand
  • Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
  • Global Middle Class Spending (in US$ Trillion) by Geographic Region
  • Pharmaceutical Sector - An Expanding Market
  • PVA Films: A Promising Market for Plastic Films
  • PET Films Market Register Stupendous Growth
  • Global Thin PET Films Market (2020): Percentage Breakdown of Demand by End-Use
  • BOPET Films - One of the Fastest Growing Segments
  • Global BOPET Films Market (2020): Percentage Breakdown of Consumption by End-Use
  • Increased Demand in Agricultural Sector Drives Market Growth
  • Growing Demand for Plastic Mulches in Agricultural Sector
  • Multi-layer Films Demand Set to Grow
  • Shirk Labels Popularity to Remain Indisputable
  • Biobased Cling Film Innovations for Sustainable Food Packaging
  • Recent Technological Advancements
  • Plastic Sheets Comprising Nanoparticles Can Destroy the Covid-19 Virus on Surface
  • Plastic Film Developed by Brazilian company for Inactivating the Coronavirus
  • A Plastic Film to Fight COVID-19
  • Silk Fibroin Coating for Preserving Perishable Foods
  • Tree Cellulose and Crab Chitin Combination Biofilms
  • Gluten Films
  • Edible Mango Waste Films

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Plastic Films Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 399
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