A recent report published by
Infinium Global Research on polyethylene films market provides in-depth
analysis of segments and sub-segments in the global as well as regional
polyethylene films market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional polyethylene films
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of the global polyethylene films
market. According to the report, the global polyethylene films market is
projected to grow at a CAGR of 4.40% over the forecast period of 2021-2027,
growing from nearly USD 85.5 billion in 2020 to about USD 114.2 billion in
2027.
Polyethylene or PE is a
thermoplastic polymer with enhanced physical properties such as high
flexibility, strength, toughness, and heat and moisture resistance.
Polyethylene can be molded into various shapes and can be stretched to make
films. Polyethylene films are used for the packaging of various food products
such as fruits, vegetables, and baked food. Moreover, polyethylene films can be
made with different characteristics such as rigid, inflammable, fireproof,
transparent, and opaque depending upon the density, and structure of the
polymer. High-density polyethylene (HDPE) films are widely used for heavy-duty
applications in the construction and agriculture industries. HDPE films are
rigid, and strong as compared to low-density polyethylene (LDPE) films, making
them suitable for rough usage. Furthermore, the market players are focusing on
developing innovative products and production methods to boost their sales and
improve margins.
The spread of COVID-19 severely
affected the polyethylene films market across the globe. COVID-19 pandemic
affected the global polyethylene films market by reducing production and
demand, disrupting the supply chain, and by its impact on firms and the
financial markets. The gap in the demand supply hampered the functioning of the
flourishing polymer industry. On the other hand, the revenue of most of the
market players was decreased due to the minimal sale during the coronavirus
outbreak. Shortage of raw materials was another major challenge faced by the
polyethylene films industry during the pandemic. This, in turn, dropped the
production of polyethylene films over the period of the pandemic. Furthermore,
the lower production of polyethylene films in countries such as China, Taiwan,
Vietnam, and Thailand created a shortage in the global market. Countries that
are heavily dependent on the import faced a severe shortage of polyethylene
films during the pandemic.
The growing demand from the food
& beverage sector is majorly driving the growth of the market. The food
& beverage industry widely uses polyethylene films for packaging
applications. Thus, the growing food & beverage industry augments the
growth of the polyethylene films market as it is the leading end-use industry.
Moreover, the increasing adoption of polyethylene films in the construction
industry is further propelling market growth. Polyethylene films are being used
for various applications such as flooring, roofing, window films, and
countertop protection in buildings. However, fluctuating prices of raw
materials are expected to hamper the market growth for polyethylene films.
Nevertheless, the emergence of innovative environment-friendly PE materials and
eco-friendly manufacturing processes is anticipated to boost market growth in
the future. Several vendors have developed different types of innovative
polyethylene films that are bio-based, and degradable, which cause less harm to
the environment.
In terms of region, the global
polyethylene films market is segmented into four regions including North
America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific
accounted for the largest market share in the global polyethylene films market
generating the highest revenue in 2020. Moreover, the Asia Pacific region is
anticipated to grow at the fastest rate over the forecast period of 2021-2027.
A large pool of consumers along with improving economic conditions is majorly
driving the market growth in the region. Furthermore, North America held the
second-largest market share for polyethylene films in 2020. The market was
estimated to grow at a decent CAGR over the forecast period of 2021-2027. The
better economic conditions in the region coupled with higher production of
automotive in the region are driving the North American polyethylene films
market.
The report on global polyethylene
films market covers segments such as type, material type, and end user. On the
basis of type, the sub-markets include shrink films, and stretch films. On the
basis of material type, the sub-markets include low density polyethylene films
(LDPE), linear low-density polyethylene (LLDPE), high density polyethylene
films (HDPE), and bio polyethylene films. On the basis of end user, the
sub-markets include food & beverages, personal care & cosmetics, home
care, building and construction, agriculture, electrical & electronics, and
others.
The report provides profiles of
the companies in the market such as Amcor plc, Akron Porcelain & Plastics
Co, Berry Global, Inc, Constantia Flexibles Group GmbH, Inteplast
Group Inc., Fluoro-Plastics Inc., Printpack, Inc., Toray Industries, Inc.,
RKW Group, and Sealed Air Corporation.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of polyethylene films market. Moreover, the study highlights current
market trends and provides forecast from 2021-2027. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.