Rising Demand from APAC Predicted to Drive the Global Plastic Films Market Until 2020, Says Technavio

LONDON--()--According to the latest research study released by Technavio, the global plastic films market is expected to reach over USD 125 billion by 2020.

This research report titled ‘Global Plastic Films Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments, including PR, BOPP, and BOPET.

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“APAC is expected to have the highest growth among all the other regions in the forecast period. APAC is expected to witness an increase in demand for plastic stretch and shrink films from the packaging and manufacturing industries. The region is witnessing a transition from rigid packaging to flexible packaging. China was the leading country in APAC, followed by India,” said Sharan Raj, one of Technavio’s lead analysts for packaging research.

“However, there is also a huge demand for agriculture plastic films in APAC because of the presence of highly cultivated areas, including India, Myanmar, and Vietnam. Major agricultural film customers are spread across the whole farm produce value chain, from crop growers to processors and retailers from the agricultural and horticultural sectors,” added Sharan.

Global plastic films market by type of materials 2015 (USD billion)

  • PE 68.96
  • BOPP 17.51
  • BOPET 10.33

Source: Technavio research

PE: largest segment of the global plastic films market

The global plastic films market by PE was valued at USD 68.96 billion in 2015. The polyethylene (PE) segment is predicted to experience the moderate growth during the forecast period. Consumers are demanding different types of packaging, and with the increased consumption of food and beverage products, household care products, and demand for plastic as a packaging material is driving the global polyethylene film market. The market is witnessing innovative plastic films options like blown films and cast films. There is also increased demand from end-users, and a rise in living standards.

Polyethylene is used in the manufacture of various grades of plastics bags and films, which are used for consumer and industrial purposes. It is used for packaging food and non-food items such as personal care and healthcare products because it has high tensile strength and is flexible. Because of these characteristics, polyethylene is considered to be an ideal material for the packaging industry.

Global plastic films market by BOPP: second largest segment

The global plastic films market by BOPP was valued at USD 17.51 billion in 2015. The biaxially-oriented polypropylene (BOPP) segment will experience the highest growth among all the other segments during the forecast period. BOPP is one of the most important plastic polymers. Biaxially-oriented refers to the property of the film, which allows it to stretch in two different directions. Orientation causes many changes in film like high stiffness, lustrousness, and lower elongation, which means that polypropylene can be prepared using almost all thermoplastic methods, including injection molding and extrusion blow-molding.

Global plastic films market by BOPET

The global plastic films market by BOPET was valued at USD 10.33 billion in 2015. Biaxially-oriented polyethylene terephthalate (BOPET) is a common plastic polymer resin of polyester family. It is easy to mold in any form and is the most preferable material used by packaging vendors, especially in food and beverages industry, cosmetic industry, and other household care packaging vendors. BOPET films are used for several applications in different forms for application areas such as packaging, industrial specialty, electrical and electronic, imaging and graphic.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com

Release Summary

According to the latest research study released by Technavio, the global plastic films market is expected to reach over USD 125 billion by 2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com