Plastic Films And Sheets Market Is Estimated To Move Ahead At A Cagr Of 6.53% From 2024 To 2033
According to Research Study published by Custom Market Insights (CMI), The Global Plastic Films and Sheets Market size was estimated at 126.56 billion in 2021 and is expected to hit around USD 199.13 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 6.53% from 2022 to 2028.
Plastic films and sheets are thin, flexible sheets of plastic and tiny material less than 10mm in size. It is also called polybags and comprises polyethylene, one of the most important components of plastic packaging. It is lightweight, corrosion, weather, and binding resistant, owing to which it is extensively used for protection, handling, containment, delivery, and presentation of other products, from carrying raw materials to processed goods, from the producer to the end-use customer.
Browse the full “Plastic Films and Sheets Market Size, Trends and Insights By Product (Type PA, PVC, BOPP, LDPE/LLDPE, HDPECPP), By Application (Packaging, Non-packaging), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/plastic-films-and-sheets/
Market dynamics
Drivers
The growing usage of plastic films and sheets in the personal care sector
The personal care sector is one of the emerging sectors across the globe where plastic films and sheets are extensively used to protect, preserve, store, and transport products such as various skincare and body care products, including soap, lotions, face creams, gels, and moisturizers+. The growing demand from the cosmetics and personal care industry has increased the potential sales of plastic films and sheets in the market.
Restraints
Government norms and regulation
However, the stringent government norms and regulations on plastic films and sheets ban are expected to hamper the overall market growth. On the other hand, manufacturers are switching to alternative substitutes for plastic films and sheets due to government programs for sustainable and plastic-free environments.
Opportunities
Escalated demand from the food & beverages industry
The growing population across the globe, increased number of working women, and rising demand for ready-to-eat packaged food have given way to the plastic films and sheets industry. Rigid plastics are extensively used in the manufacturing of plastic containers. This is projected to propel the growth of the plastic films and sheets market in the upcoming years.
In addition, the growing food and beverages worldwide are driving the potential sales of plastic films and sheets. For instance, according to an article published by IBIS World in August 2022, the plastic packaging industry revenue is expected to fall at a compound annual rate of 0.9% over the five years through 2022-23 to £935.4 million. These factors are enhancing the overall growth of the plastic films and sheets market.
Challenges
Environmental concern
Over the forecast period, the recyclability of plastic becomes one of the most challenging factors in the plastic films and sheets market. In response, higher lead time and tooling costs involved in injection molding technology will likely act as challenging factors during the forecast period.
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Report Highlights
Depending upon the types, the plastic films and sheets market is segmented into PA, PVC, BOPP, LDPE/LLDPE, HDPE, and CPP.
The LDPE/LLDPE product type segment dominated the market in 2021 and is expected to grow over the forecast period, accounting for 42% of the total share. LDPE/LLDPE plastic films and the sheet have attributes such as flexibility, high strength, high puncture and impact resistance provides, and extended shelf life, and is the least expensive among all the plastic films due to which it has gained popularity in the food and beverages industry where it is used in the form of bottles, jars, containers, and many others. This is anticipated to increase the industrial sector’s demand for plastic films and sheets.
Based on application, the market is segmented into packaging and non-packaging. It is expected that the global packaging application segment to hold a dominant position during 2022 -2031. And expected to grow with a total market share of 84.67%.
The factors such as a rapid shift in lifestyle, the busy schedule of people, and growing trends of ready-to-eat packed food have escalated the demand for various types of plastic films and sheets. It is extensively used to protect and cover material while transporting food. The demand for plastic films and sheets will grow as packaging materials in the cosmetics industry during the forecast period.
Regional Snapshots
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the dominant region in the plastic films and sheets market. This region is also anticipated to maintain its dominance throughout the forecast period, with 43% of the total share. Countries such as China, Japan, India, and others significantly contribute to the growth of the region’s plastic films and sheets market. Key factors such as pharmaceuticals, cosmetics, personal care products, the medical sector, food and beverages, and other end-use industries have surged the demand for plastic films and sheets.
Key Players
- Toray Industries, Inc.
- British Polythene Ltd.
- Toyobo Co., Ltd.
- Berry Global, Inc.
- SABIC
- Plastic Film Corporation of America
- Sealed Air
- Dow
- DuPont
- Novolex
- Amcor plc
- UFlex LtdInc.
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Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains. Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
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