Increase in use of LLDPE-based polyethylene films owing to its high impact resistance has enhanced its application in the packaging sector, majorly in the food and medical industries.
Portland, OR -- (SBWIRE) -- 06/19/2018 -- Polyethylene Films Market was valued at $70,465 million in 2016, and is expected to reach $90,911 million by 2023, registering a CAGR of 3.6% from 2017 to 2023. Polyethylene is defined as the semi-crystalline polymer used in production of films extensively owing to its properties, such as its flexibility and lightweight, cost, and ease of fabrication. Polyethylene films are prepared from metallocene linear low-density polyethylene (m-LLDPE) and linear low-density polyethylene with 0 to 8% polyisobutylene. Low density polyethylene is majorly used as a thermoplastic material and a major raw material in the film applications owing to its economic cost, toughness, chemical resistance, and ease of sealability.
Furthermore, polyethylene films are widely utilized in applications, which require thin films of 7.5 microns and in applications, where thick films of 760 microns are required. Polyethylene films are clear as well as colored, printed or plain, single or multilayered, and combined with other materials, such as aluminum and paper. In addition, all the plastic films are flexible in nature and are used in grocery bags, as opposed to rigid, as used in soft drink bottles and butter tubs.
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The global polyethylene films market is segmented based on technology, material, application, and region. Based on technology, it is classified into blown film extrusion, cast film extrusion, and others. Based on type, the market is segmented as stretch films and shrink films. Based on application, it is divided into beverage packaging, food packaging, agriculture films, construction films, household items, and others. Agricultural films are further divided into mulch films, greenhouse films and silage films. Based on material, the market is segmented as high-density polyethylene (HDPE), low density polyethylene (LDPE), and linear low-density polyethylene (LLDPE). Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players, including AEP Industries, Amcor Ltd., Berry Plastics Corporation, Dupont Teijin Films, Exopac Holdings Corporation, Jindal Poly Films, Sealed Air Corporation, Hilex Poly Co LLC, Innovia Films Ltd., and Ampac Holdings have invested in R&D activities to develop advanced products to cater to the requirements of the market.
The other players in the value chain (profiles not included in the report) include Toyobo Company Limited, Toray Industries, Saudi Basic Industries Corporation, Uflex Ltd, Vibac Group, and Garware Polyester Limited.
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The market witnesses high demand owing to the elastic nature of polyethylene films, which enable production of films with good toughness suitable for food packaging as well as non-food applications. Innovations in food & beverages packaging drive the demand for the polyethylene films. However, fluctuations in the cost of raw materials cost and stringent regulations imposed for the use of plastic, is expected to hamper the market growth during the forecast period. Though, the market is saturated in North America and Western Europe, Asia-Pacific has huge potential demand owing to the growth in end user such as agriculture, medical, and food industry.
- The report provides an extensive analysis of global polyethylene films market trends and size from 2016 to 2023 to determine the prevailing opportunities.
- It offers a comprehensive analysis of North America, Europe, Asia-Pacific, and LAMEA to understand the regional trends.
- Comprehensive analysis of factors that drive & restrict the growth of the market is provided.
- Extensive analysis is conducted by following product benchmarking, positioning, and monitoring the top competitors within the global market.
- The report provides key insights on strategic industry analysis of various companies and the value chain analysis.