LONDON--(BUSINESS WIRE)--The global pet films market size is poised to grow by 1.57 million MT during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Product manufacturers worldwide are focusing on innovative product packaging to increase brand awareness and attract customers. Besides, end-users across industries such as food and beverage, healthcare, and personal care industries, are shifting from rigid to flexible plastic packaging materials. This is due to benefits such as flexibility, durability, and lightweight. These factors have increased the demand for flexible plastic packaging products such as thin PET films, which are easy to open, carry, store, and reseal. Therefore, the rising consumption of packaging materials is expected to foster the growth of the global PET films market during the forecast period.
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- The major PET films market growth came from the thin pet films segment. This is due to the increasing use of thin PET films in various applications such as cable overwrap, edge reinforcement, adhesive tapes, gaskets, solar-control structures, and embossing.
- APAC was the largest market for PET films in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the growth of the renewable energy and consumer electronics sectors in the region.
- The global pet films market is fragmented. DuPont Teijin Films, Ester Industries Ltd., Garware Polyester Ltd., Jindal Poly Films Ltd., Mitsubishi Chemical Holdings Corp., Polyplex Corporation Ltd., SKC Inc., Toray Industries Inc., Tredegar Corp., and UFlex Ltd. are some of the major market participants. To help clients improve their market position, this pet films market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global pet films market 2020-2024 is expected to have neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/pet-films-market-industry-analysis
Growth in the organized retail segment will be a key market trend
Many developing countries are registering rapid economic growth and high disposable incomes. This has increased the demand for high-quality goods and services, which is resulting in a growth in the number of well-informed buyers with varied spending habits. To satisfy the needs of such a customer base, the retail sector is expanding in a more organized manner. Besides, many countries are relaxing several regulations to support the growth of the organized retail sector. All these factors will have a positive impact on the growth of the global PET films market during the forecast period.
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PET Films Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist pet films market growth during the next five years
- Estimation of the pet films market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the pet films market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of pet films market vendors
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- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Thin PET films - Market size and forecast 2019-2024
- Thick PET films - Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Landscape disruption
- Competitive Scenario
- Vendors covered
- Market positioning of vendors
- DuPont Teijin Films
- Ester Industries Ltd.
- Garware Polyester Ltd.
- Jindal Poly Films Ltd.
- Mitsubishi Chemical Holdings Corp.
- Polyplex Corporation Ltd.
- SKC Inc.
- Toray Industries Inc.
- Tredegar Corp.
- UFlex Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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