The Global Market for Plastic Films is Projected to Reach 68.4 Million Tons Translating to US$117.6 Billion by 2020

Strong Consumption in Packaging & Non-Packaging Applications Fuels the Plastic Films Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Plastic Films. The global market for Plastic Films is projected to reach 68.4 million tons translating to US$117.6 billion by 2020, driven by growing demand from packaging as well as non-packaging applications.

The largest sub-sector of the plastic processing industry, plastic films find widespread applications in packaging of both food and non-food products. In addition, these films are also used in construction, agriculture, healthcare and other non-packaging sectors. Competitive advantages over paper and foil will continue to spur demand for plastic films in the coming years. The growth in the market also continues to be driven by growing demand from developing markets and technology advancements in product improvements. Growing population, demand for complex packaging from the pharmaceutical sector, and increased consumption of packaged foods are driving the need for shelf stable packaging. Shifting preference towards flexible packaging of foodstuffs is also stimulating demand for plastic films. 

Given the growing government focus on curbing greenhouse gas emissions, and issues associated with disposal and recycling of plastic packaging, producers are increasingly using bio-degradable materials and reducing weight of films by reducing thickness. Restrictions on the use of non-biodegradable plastic bags will further create new opportunities for growth of bioplastic films in countries such as China. Expanding middle class population in key Asian countries, especially China and India continues to spur demand for packaging films. Companies are focusing resources towards the development of films with innovative molecular architecture designed to meet customer specifications such as high humidity and temperature resistance, print receptivity, high speed wrapping, heat sealability, high clarity, and low permeability. Trends such as High Pressure Processing (HPP) in food packaging sector are driving demand for specialized high performance films.

In the pharmaceutical sector, packaging is shifting towards strip/blister packs away from bottle packs, as a result of the growing dominance of cheaper generics, which creates a need for low-cost packing solutions. Given its recyclable characteristics and compatibility with several food and non-food products, BOPP films are growing in popularity in emerging as well as developed economies.

As stated by the new market research report on Plastic Films, Asia-Pacific represents the largest market worldwide. The region is also forecast to emerge as the fastest growing market with a projected CAGR of 6.1% over the analysis period. Growth in the region is mainly supported by growing population, rising standards of living, changing food consumption patterns and increased preference for packaged foods. Polyethylene films represent the most widely used material, guided by beneficial attributes such as superior sealing, and resistance to extreme cold, and moisture.

Major players covered in the report include Achilles Corporation, AEP Industries, Inc., Bemis Company, Inc., Berry Plastics Corporation, British Polythene Industries PLC, DuPont Teijin Films, Garware Polyester Limited, Inteplast, Jindal Poly Films Ltd., Paragon Films, Inc., PT Trias Sentosa Tbk, PT Argha Karya Prima Industry Tbk, Rheinische Kunststoffwerke AG, Polycasa, SABIC Innovative Plastics, Sumitomo Bakelite Company Limited, Taghleef Industries, Toyobo Company Ltd., Trioplast Industrier AB, Uflex Ltd., and The Vibac Group, among others.

The research report titled “Plastic Films: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections volume and value wise for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Latin America), Latin America (Brazil, Mexico, and Rest of Latin America), and Rest of World. Product segments analyzed include Polyethylene Films (HDPE Films, LDPE Films, LLDPE Films), Polypropylene Films (BOPP Films and CPP Films), PVC Films and High Performance Films (Nylon Films, Polyester/PET Films and Other High Performance Films).