Growing Plastic Market
The “Plastic Films & Sheets Global Market” report has been added to the offering of ResearchAndMarkets.com.
According to the information, the global plastic films & sheets market size is projected to reach 155.1 billion US-Dollar by 2026 – from 123.8 billion US-Dollar in 2021 – at a CAGR (compound annual growth rate) of 4.6 percent during the forecast period. In this market, linear low-density polyethylene (LLDPE) accounts for the largest share of the total market. However, the demand for Polyamide (PA) film type is projected to increase at a faster rate in the near future, the company gave account. This market would be driven “by its clear and printable thermoplastic nature and other properties such as high melting point, exceptional strength and toughness, and good oxygen barrier. It is also scratch, puncture, and flex-crack resistant and does not dissolve or absorb grease, oil, and acidic food.”
Based on application, the plastic films and sheets market is segmented into packaging and non-packaging. The packaging segment accounts for the largest market share and is categorized into food (the largest share in this market), pharmaceutical and medical, consumer goods, industrial, and other packaging applications, which include tobacco, personal care, and home care packaging. The non-packaging segment includes agriculture, construction, medical and healthcare, and other non-packaging applications such as electronics, automotive, and industrial. Agriculture is the largest application of plastic films and sheets in this segment. As reported, the Asia-Pacific region (APAC) is the largest market for plastic films and sheets. The report forecasts that the market share “is primarily attributed to increasing demand for plastic films and sheets in emerging economies, such as India, China, Indonesia, Malaysia, Vietnam, Singapore, and Thailand, in the region”. Moreover, growth in population, increasing urbanization rate, changing trends, and expanding disposable income were driving the consumption of food, particularly, packaged foods.
In addition, growth in industrialization, increasing demand due to changing demographics, and government initiatives to attract business investments in various industries including packaging, construction, pharmaceuticals, industrial, and electronics are also driving the market for plastic films and sheets in the region, Research and Markets underlined.
www.researchandmarkets.com/reports/5567753/plastic-films-and-sheets-market-by-material-type
(Published in GLOBAL RECYCLING Magazine 2/2022, Page 6, Photo: Harald Heinritz / abfallbild.de)
