Plastic Films & Sheets Market to witness steady growth by 2024
Sarasota, FL -- (SBWIRE) -- 12/06/2017 -- Plastic films & sheets are basically made up of polypropylene and polyethylene. Substitute products such as glass and metal are largely available in the market. They are used in the non-packaging and packaging industry. The non-packaging sector includes consumer goods, construction, medical and agriculture. Whereas, packaging sector consists of personal care, pharmaceuticals, and food products. Plastics and its polymers can be molded into any design or shape similar to glass and metals.
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Increasing applications of the plastic films & sheets in the food and pharmaceutical packaging is driving the global plastic films & sheets market growth. Rising disposable income coupled with growing demand for packaged food contributes to the market growth. Lower cost of plastic films & sheets is the major driving factor for the global market growth. Vigorous demand for packaged food products in the vastly populated developing economies influences the global market growth. Increasing demand for oriented films and environment-friendly bio-plastic films in the agriculture sector propel the global plastic films & sheets market growth. The pharmaceutical sector use plastic films and sheets for packaging of medication tubes, pre-fillable syringes, labels, accessories, inhalers, vials, and others. Healthcare and food packaging industries are the two main application areas which drive the plastic films and sheets market. Conversely, easy availability of substitutes such as metal and glass and stringent regulations regarding biodegradable plastics hinder the global market.
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The global plastic films & sheets market is categorized based on the type which includes BOPP, LDPE, PA, HDPE, CPP, LDPE, PES, PVC, and others. Based on the applications, the global market is classified as non-packaging and packaging. Region-wise, the market is diversified into Asia-Pacific, North America, Europe, and Rest of the World.
Asia-Pacific is the leading region for plastic films & sheets as it holds a significant market share globally. China has emerged as the dominating region in the Asian market due to high demand for plastic films & sheets. Thus, Asia-Pacific region anticipates maintaining its dominance in the coming years. Europe is considered as a mature market but the market is experiencing sluggish growth.
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However, the demand for food packaging industry in Italy is declining which leads to reduced demand for plastic films & sheets in the country. Rising demand for specialty films in pharmaceutical, construction, and non-packaging sector will increase the demand for the plastic films & sheets market in Europe. Demand from other emerging economies such as Poland, Mexico, Brazil, and Turkey for plastic films and sheets anticipates fostering the global market growth. Growing financial status of consumers in these economies may fuel the demand for plastic films and sheets in the near future.
Prominent players in the global plastic films & sheets market include British Polythene Industries Plc., DuPont Teijin Films, Toray Industries, Inc., Amcor Ltd., Jindal Poly Films, Toyobo Co. Ltd., AEP Industries, and Berry Plastic Corporation.
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