Plastic Films And Sheets Market Growth & Trends
The global plastic films and sheets market size is expected to reach USD 196.23 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.5% over the forecast period. Increasing demand for plastic films from the agricultural sector is a key driver for the industry. In the agricultural sector plastic sheets are mostly used in the construction of greenhouses, low tunnel covers, mulching, and walk-in tunnels. HDPE sheets are also witnessing extensive application in the agricultural sector. These films are equipped with multiple rows containing several holes, which assists in better growth and development of plants. They are lightweight, highly durable, weather-, corrosion-, & binding-resistant, and waterproof.
In the food and beverage industry, the demand for processed food is further boosting the usage of plastic films & sheets in packaging applications. The rapid growth of the food & beverage industry in countries, such as China, India, Indonesia, and Malaysia, is anticipated to boost the product demand over the projected period. Changing food habits and increasing preference for processed foods are likely to supplement the product demand. Moreover, market players are also engaged in manufacturing various types of plastics as per the user requirements and perishability of food. Eco-friendly plastics are gaining popularity across several application industries. Cellulose diacetate, Poly Lactic Acid (PLA), and RPET are the major types of eco-friendly plastics.
Cellulose diacetate comprises a cellulose base, which is an organic compound. It contains 90% of cotton and the remaining 40% of wood. It is considered safe for food packaging applications and possesses a high moisture transition rate, which allows products to remain fresh for longer. Stringent regulations on the use of plastic films and sheets have been imposed in several countries, which is going to hamper the market growth over the forecast period. Numerous economies, including Bangladesh, Cambodia, Hong Kong, India, Indonesia, Malaysia, and Taiwan, have imposed additional taxes on the utilization of plastic films in packaging. In the U.S., several governmental, as well as non-governmental organizations, are also involved in discouraging the usage of plastic sheets and films in packaging organic produce.
Request a free sample copy or view the report summary:
Plastic Films And Sheets Market Report
Plastic Films And Sheets Market Report Highlights
- The LDPE/LLDPE led the product segment in 2021 and is anticipated to maintain its dominance over the forecast period
- This is due to the use of LDPE/LLDPE in common applications in food packaging, textile packaging, and other special applications in tents and outdoor equipment
- Asia Pacific was the largest regional market in 2021 and is estimated to expand further at the fastest CAGR over the forecast period
- The packaging application segment led the market in 2021. Plastic films and sheets have attained significant popularity in packaging applications across various industries like food, medical, and consumer goods industries
- Most industry players, such as SABIC and British Polythene Industries PLC, are integrated across the value chain, due to which entry for new players is likely to be slightly difficult as the market grows
