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Global Plastic Films Market to Reach a Valuation of US$ 110.49 Bn by
2024; Increasing Demand for PET, PVC, and PP Decorative
Laminates Across the Globe Likely to Fuel Revenue Growth
In a new report titled “Plastic Films Market: Global Industry Analysis and Forecast,
2016 - 2024”, Persistence Market Research analyzes the performance of the global
plastic films market over an eight-year period and provides insights on the key factors
and trends likely to influence the market during the forecast period (2016 – 2024).
The global plastic films market is estimated to represent absolute $ opportunity of
US$ 3,150.3 Mn in 2016 over 2015 and is projected to register a healthy CAGR of
6.1% in terms of value during the forecast period.
Market dynamics
Increasing demand for plastic films as substitutes for glass and metal is expected to
be a key factor driving the growth of the global plastic films market. Moreover,
plastic films are cheaper in terms of packaging, decoration, and industrial
applications as compared to glass and metal packaging options. These factors are
expected to fuel revenue growth of the global plastic films market over the forecast
period. Growth of the global plastic films market is expected to increase significantly
due to a high demand for hygienic and flexible food packaging materials. Increasing
environmental concerns among consumers and shifting preference towards more ecofriendly products are other factors expected to boost the growth of the global plastic
films market during the forecast period.
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Market forecast
The global plastic films market is segmented on the basis of Product Type (PET,
PVC, PP, PE, and Others (PS, PA, EVA, etc.)); Application (Packaging (Food
Container, Blister Packs, Electric & Electronic purposes, Others), Decoration (Solid
colors, Others), Industrial (Construction materials, Safety materials, Advertisement
lighting)); and Region (North America, Latin America, Europe, Asia Pacific, and
Middle East & Africa).
The PET product type segment is estimated to account for the highest value share of
29.6% by the end of 2016 and is expected to gain significant market share by the end
of 2026. The PET segment is estimated to be valued at US$ 20,393.5 Mn by the end
of 2016 and is anticipated to register the highest CAGR during the forecast period.
Recyclable and sustainable properties of PET are factors expected to drive global
demand for PET plastic films over the forecast period. In terms of volume
consumption, the PP segment is expected to contribute a comparatively higher share
to the overall global plastic films market.
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The Packaging application segment is estimated to account for the highest value
share of 48.0% by the end of 2016 and is expected to gain significant market share by
the end of 2026. In terms of volume consumption, the Packaging segment is expected
to contribute the highest share to the overall global plastic films market during the
forecast period The Decoration application segment is estimated to be valued at US$
12,023.1 Mn by the end of 2016. The Decoration segment is expected to register a
comparatively higher CAGR during the forecast period. In terms of value and
volume, the Others (wood grain patterns) segment is expected to dominate the global
plastic films market over the forecast period.
Among regions, Europe is anticipated to register a CAGR of 6.7% in terms of value
over the forecast period and is estimated to account for 29.2% volume share by 2016
end. The APAC market is estimated to represent incremental opportunity of US$
10.17 Bn between 2016 and 2024.
The global plastic films market report profiles some of the leading companies
operating in the global plastic films market and gives information on their long-term
and short-term strategies as well as market performance. Companies featured in the
report 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. Top companies dominating
the global plastic films market are focusing on offering innovative, customer-centric
products and are looking to expand their presence in different regional markets
through strategic mergers and acquisitions. Some of these companies are investing in
R&D initiatives for the development of new technologies to cater to the rising
demand for high quality plastic films.
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