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Plastic Films and Sheets Market Emerging Opportunities

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The market for plastic films and sheets is anticipated to grow from USD 123.8 billion in 2021 to USD 155.1 billion in 2026, at a CAGR of 4.6% over the forecast period.
The global market for plastic films and sheets is being propelled by the general rise in demand for these products in developing nations including those in APAC, South America, and the Middle East and Africa. The expansion of the plastic films and sheets market is made possible by the expanding agricultural sector. Additionally anticipated to fuel the market growth for plastic films is the escalating demand for specialised films.
The leading companies in the are Berry Global Group, Inc. (USA), SABIC (Saudi Arabia), Toray Industries, Inc. (Japan), Sealed Air Corporation (USA), Uflex Limited (India), and Toyobo Co.
The market for plastic films and sheets was dominated by Amcor PLC in 2020. For the sale of plastic films and sheets to a wide range of end users, the company has a diverse product portfolio. Flexibles is the business segment that sells plastic films for Amcor. Due to substantial investments in product innovation and technology, the company provides a wide range of cutting-edge products. With operations in more than 200 locations, Amcor has a significant presence in more than 40 countries around the world. Amcor's primary business strategy focuses on geographic expansion through the purchase of various packaging businesses in various regions for various industries, including the food, beverage, and pharmaceutical industries. Amcor opened a cutting-edge healthcare packaging facility in Tuas, Singapore, in December 2021. This facility will aid in meeting the rapidly rising demand for healthcare packaging in the Asia Pacific region.
A market leader in flexible & rigid consumer packaging as well as nonwoven speciality materials, Berry Global Group, Inc. The company operates in over 290 sites, giving it a significant global footprint. A wide range of products are available from the company, including stretch and shrink films, converter films, food and consumer films, and agriculture films, which are used in a number of different industries, including the food, beverage, agriculture & horticulture, healthcare, construction, and industrial. Its main business strategies to strengthen its position in the global market are investment, expansion, and collaboration. Berry Global announced in September 2021 that it would be expanding its foodservice packaging manufacturing operations in North America. The company will invest more than USD 110 million in this to increase the production of packaging for quick-service restaurants, coffee shops, and other foodservice markets using its proprietary polypropylene thermoforming technology.
The global plastic films & sheets market is being propelled by the general rise in demand for plastic films & sheets in food packaging, pharmaceutical & medical packaging, and agricultural. The need for biodegradable and water-soluble films has been driven by rising environmental awareness and consumer preferences for eco-friendly products. Due to the variety of uses for BOPP and BOPET plastic films in food and pharmaceutical packaging, these films are also becoming more and more popular.
The LLDPE industry is predicted to dominate the plastic films & sheets market in 2021 in terms of market size.
LLDPE makes up the bulk of the market. A quicker pace of demand increase for PA film type is projected in the near future. The market is driven by PA film's high melting point, amazing strength & toughness, and efficient oxygen barrier in addition to its clear and printable thermoplastic nature. Additionally, it doesn't absorb or dissolve grease, oil, or acidic foods and is resistant to scratches, punctures, and flex-cracks.
In 2021, the packaging category of plastic films & sheets is anticipated to be the largest.
The packaging industry is the biggest consumer of plastic sheets and films. Food packaging, pharmaceutical and medical packaging, consumer products packaging, industrial packaging, and other types are all included in this area. The greatest application in the packaging segment and the largest application in the forecast is food packaging. Agriculture, construction, healthcare, and other non-packaging industries like electronics, automotive, and industrial are included in the non-packaging section. The major industry using plastic films & sheets is agriculture.
The plastic films & sheets market is anticipated to grow most quickly in APAC during the forecast period.
The biggest market for plastic films and sheets is in APAC. This significant market share is primarily attributable to the region's expanding economies, including India, China, Indonesia, Malaysia, Vietnam, Singapore, and Thailand, which have rising demand for plastic films and sheets. In addition, rising urbanisation rates, shifting fashions, rising disposable income, and population growth all contribute to an increase in food consumption, particularly packaged food consumption. The market for plastic films & sheets in the region is also being driven by the region's growing industrialization, rising demand as a result of shifting demographics, and government initiatives to entice investments in a variety of industries, including packaging, construction, pharmaceuticals, industrial, and electronics.
The plastic films and sheets market report examines the key growth tactics used by the leading market players between 2019 and 2022, including new product launches, investment & expansion, divestitures, agreements & collaboration, mergers & acquisitions, and divestitures.
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