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PLASTIC FILMS MARKET ANALYSIS

Plastic Films Market 2017u20132027

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PLASTIC FILMS MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. PLASTIC FILMS MARKET ANALYSIS Plastic Films Market, By Product Type (Polyethylene terephthalate (PET), Polyvinyl chloride (PVC), Polyvinyl chloride (PVC), Polypropylene (PP), Polyethylene(PE), Others (PS, PA, EVA, etc.)), By Application (Packaging (Food Container, Blister Packs, Electric & Electronic purposes, Others), Decoration (Solid colors, Others), Industrial (Construction materials , Safety materials, Advertisement lighting, Others)), and By Region (North America, Latin America, Europe, Asia Pacific, The Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  3. The global plastic films market is projected to reach around US$ 131.9 billion by the end of 2027, in terms of revenue, growing at CAGR of 6.3% during the forecast period (2019-2027). Drivers Growing demand for hygienic and flexible food packaging materials from the food and beverage industry is primarily fueling the market growth of the plastic film. Many manufacturers are introducing hygienic plastic packaging products to cater to the rising demand for food packaging materials is projected to significantly fueling the market growth of the plastic film. For instance, in 2015, SABIC introduced a phthalate-type of PP plastic, which ensures hygienic packaging and increased shelf life of food products. Increasing demand for the degradable plastic film due to rising environmental concern is expected to propel the market growth of the plastic film. Non-degradable plastic films are hazardous in nature and have negative effects on the environment, for this various stringent government regulations have been introduced by the government, which has increased the demand for degradable plastic films owing to their eco-friendly and sustainable properties. This is expected to fuel market growth. On basis of the region, the Europe region dominated the global plastic films market in 2018, accounting for 31.5% share in terms of volume, followed by Asia Pacific and North America, respectively.

  4. Figure 1. Global Plastic Films Market, Revenue Share (%), By Region, 2018

  5. Market Restraints The high cost of raw materials as the manufacturing of biodegradable plastic films is relatively high as compared to conventional film is expected to restrict the market growth of the plastic film. Manufacturing of biodegradable film requires additives which further adds to the cost of the manufacturing. Hence, the high cost of raw materials is expected to negatively impact market growth to some extent. Availability of substitute such as paper packaging products which are eco-friendly and cheap is expected to limit the adoption of plastic film. Metals such as aluminum are also used as a packaging product, for example, aluminum can which is widely used to store the carbonated drink and aluminum can also easily recycle which is further expected to raise the adoption of such substitute product over plastic and in turn expected to hinder the market growth.

  6. Market Opportunities Improving standard of living and urbanization around the globe is offering lucrative growth opportunity to the market of plastic film. Due to improving standard of living people increased spending on plastic film laminated products such as furniture, cabinets, and flooring material laminated with decorative plastics. Hence, rising demand for such products will favor the market growth of plastic film over the forecast timeframe. Ongoing research and development activities coupled with the increasing product lines due to the addition of novel and eco-fielding product will offer lucrative opportunities to the market of plastic film over the forecast period. Moreover, the rising adoption of more eco-friendly technologies to develop plastic films due to rising awareness regarding the environment is further projected to foster market growth over the forecast period.

  7. Figure 2. Global Plastic Films Market– Opportunity Analysis

  8. Market Trends The growing trend of using plastic film across the construction industry for the manufacturing of windows, roofing applications, water barrier material, etc., is expected to propel the market growth of the plastic film. The market growth of plastic films can also be attributed to the expanding construction industry. According to the Coherent Market Insights forecast, the market in developing countries, including China and India, are expected to account for over 80% of the global construction market value and volume by 2030, which is expected to increase significantly in the near future. Growing demand for consumer electronics products across developing regions such as China, Japan, India, etc. is projected to increase demand for plastic film. For example, usage of PVC is gradually increasing in electrical products owing to its various properties such as the ability to suppress and reduce combustion during a fire, etc. Hence, the rising application of PVC film will favor market growth over the forecast period.

  9. Figure 3. Global Plastic Films Market, Revenue Share (%), By Application, in 2018

  10. Figure 4. Global Plastic Films Market – Value Chain Analysis

  11. On the basis of application, in 2018, packaging segment has accounted the largest market share of 48.2% in terms of value, followed by industrial and decoration respectively. Competitive Section Key players operating in global plastic films market are The Dow Chemical Company, DuPont, Eastman Chemical Company, Evonik Industries AG, Amcor Limited, Berry Plastics Corporation, Griffon Corporation Inc., Mitsubishi Chemical Holdings Corporation, Saudi Basic Industries Corporation (SABIC), and Honeywell International Inc. Few Recent Developments The Dow Chemical Company • In February 2018, Dow Chemical International Pvt. Ltd has collaborated with Vishakha Group, to develop a “Recyclable Barrier Film” for liquid packaging at PlastIndia 2018. • In July 2017, Dow's Packaging and Specialty Plastics (P&SP), a business unit of The Dow Chemical Company (NYSE: DOW) launches tenter frame biaxially oriented polyethylene (TF-BOPE) at ProPack China 2017: an innovative and revolutionary addition to the INNATE™ Precision Packaging Resin family.

  12. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst Reference:https://www.coherentmarketinsights.com/market-insight/plastic-films-market-3560

  13. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  14. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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