What? When? Why?
Latest Happenings in Business World
09
Aug-2019
Things Will Change The Way You Approach Polyfilm Market
The polyfilm market is a high-value and slow-growing market which is anticipated to reach a total of USD 151.13 billion by 2023 at a 4.3% CAGR. The growth of the market is majorly due to the demand from the packaging and agriculture industries.
Introduction:
Polyfilm also called polyethylene film, polyethylene film is a thin, continuous plastic material made of polymer and is one of the most common plastic films. This plastic film is used to separate areas, store objects, or protect paint surfaces or irreversible damage. They consist of simple and complex materials, different characteristics, and serve different purposes. In fabrics, sewn items, clothing, clothing, and other related industries, polyethylene films are used to protect products from moisture, dust, and dirt during transport. There is a growing demand for polyethylene film foams in the fields of medicine, consumer goods, construction, agriculture, and packaging.
Forecast:
Packaging should be the fastest-growing segment of the end-use industry in the polyethylene film market.
Packaging should be the fastest-growing segment of the end-use industry during the forecast period. The rigid packaging subsegment of the packaging segment is expected to experience strong growth. The PET segment is expected to dominate the market since PET is light and reduces costs and environmental impact during transport. The demand for flexible packaging is expected to increase in the food and beverage, tobacco, beauty and personal care, and facial tissues and personal hygiene sectors in the coming years.
Linear low-density polyethylene (LLDPE) is the most important segment of the polyethylene film market, segmented according to the type of resin.
The LLDPE is the most important segment of the polyfilm market due to its desirable properties when used individually or in combination with other types of resins. The LLDPE is mainly used in flexible packaging, particularly in the food and textile industries, in the form of extruded monolayer or compounds with PVDC, EVA and other polyolefins, depending on the application. For garbage bags, stretchable and collapsible films, LLDPE is coextruded with low-density polyethylene (LDPE) and ethyl vinyl acetate (EVA). LLDPE replaces LDPE in movies and is increasingly used in retail markets.
Recent Developments:
In July 2017, Jindal Poly Films Ltd, a producer of packaging films, acquired Apeldoorn Flexible Packaging Holding BV, a company based in the Netherlands, for $ 82.3 million in cash. The acquisition will help the company expand its product offering by adding cargo security films. The agreement will also help strengthen the company's relationship with the owners of its brands in the growing consumer goods segments.
In May 2017, Jindal Poly Films Ltd, a manufacturer of packaging films, planned to acquire DuPont Films (DTF), a company based in Europe. This agreement could have helped the company join the world's largest market for polypropylene (OPP) and polyester (PET) films. These acquisitions will help the company to penetrate further into this market and also expand its operations worldwide.
Key Stakeholders:
- Polyfilm manufacturers
- Distributors and suppliers of poly films
- Government and research organizations.
- Associations and industrial organizations.
- Research and consulting companies
- Research and Development Institutions (R&D)
- Environmental support agencies
- Suppliers of raw materials
Regional analysis:
The Asia-Pacific region is the largest market; as most major polyethylene film manufacturers are in India. Factors such as increased demand from the food industry, technological developments in agriculture, increased number of BoPET, and BoPP film production units for various end-use industries have led to market growth.
Polyethylene films Asia and Pacific China is one of the largest markets for polyethylene films, with several companies investing heavily to establish manufacturing facilities in the country. Lifestyle change increased health awareness, and long film life has led to increased demand for polyethylene film in China. There is a strong demand for biobased poly films. These biologically-based films are environmentally friendly. The only drawback of these films is their high cost.
WRITTEN BY: Karthik Thelakula
Karthik Thelakula is a Content Writer in Market Data Forecast, one of the world’s leading research and consulting for various business domains, individuals and corporate clients
CATEGORY
RECENT POST
CLIENTS
.webp)
