New York, April 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Plastic Films & Sheets Global Market Report 2023" - https://www.reportlinker.com/p06433534/?utm_source=GNW
, Jindal Poly Films Limited, Dupont Teijin Films Limited, Taghleef Industries LLC, Bemis Manufacturing Company, Novolex Com, British Polythene Industries PLC., Oben Holding Group S.A.C, CCL Industries Inc., Mitsubishi Chemical Corporation, RKW Group, Plastic Film Corporation, and AEP Industries Inc.
The global plastic films & sheets market grew from $78.65 billion in 2022 to $83.28 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The plastic films & sheets market is expected to grow to $103.64 billion in 2027 at a CAGR of 5.6%.
The plastic films and sheets market consists of sales of melamine sheet, perforated plastic sheet, phenolic sheet, and PVDF film.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Plastic films and sheets refer to a continuous form of plastic material that is thin and wound on a core, or cut into sheets. Plastic films are thinner in nature than plastic sheets and have a thickness of 0.6 mm to 0.10 mm or thicker. These are used by various industries as these sheets are environmentally friendly, multi-purpose plastic material, wrinkle and weather resistant, reusable, durable in nature, and recyclable.
Asia-Pacific was the largest region in the plastic films and sheets market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this plastic films and sheets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of plastic films and sheets are polypropylene, polyethylene, polyvinyl chloride, rubber, and other types.Polypropylene is used to create the synthetic resin known as polypropylene.
The various applications include food packaging, stretch film, shrink film, heavy-duty bags, film on a reel, and other applications. The various end users involved automotives, aerospace and aviation, packaging, food and beverages, building and construction, healthcare, printing, agriculture, and other end-users.
The growth in the plastics industry is expected to propel the growth of the plastic films and sheets market going forward.The plastic industry refers to an organisation that is involved in the manufacturing of polymer materials that are known as plastic, a chemical compound that is light-weight, elastic in nature, moldable, and has other unique features.
Plastic films and sheets help the plastic industry with many advantages, such as reduced weight in components in manufacturing, good packaging solutions, strength, durability, and other features that can be used in various industries such as automobiles, food and beverages, construction, electronics, healthcare, and others. For instance, in March 2022, according to an article published by the American Mold Builders Association, a US-based organisation that has been dedicated exclusively to the U.S. mould manufacturing industry, plastic production increased by 7.1% from the year 2019 to 2020 and is expected to grow at a rate of 4.5% year-on-year. Therefore, the growth of the plastic industry is driving the growth of the plastic film and sheet market.
Product innovation is a key trend gaining popularity in the plastic films and sheets market.Major companies operating in the plastic films and sheets market are focused on developing new product solutions to strengthen their position.
For instance, in July 2021, SABIC, a Saudi Arabia-based company operating in plastic films and sheets, introduced LEXANTM Copolymer, a sustainable polycarbonate film, the first in the industry to receive ISCC PLUS certification for film and sheet products based on renewable polycarbonate.LEXAN polycarbonate resin is an amorphous engineering thermoplastic that can be deformed in extreme heat (typically 147 degrees Celsius, or 297 degrees Fahrenheit) and whose molecules are comprised of repeating subunits.
LEXANTM Copolymer provides outstanding mechanical, optical, electrical, and thermal properties, and the product produced by LEXAN exhibits properties such as scratch resistance, toughness, heat resistance, biocompatibility, and optical quality. It complies with stringent FDA and USP requirements and therefore can be used in medical devices.
In June 2021, Spectrum Plastics Group, a US-based company operating in plastic films and sheets, acquired KCS Plastics Ltd for an undisclosed amount.Through this acquisition, Spectrum Plastics Group aims to strengthen its product portfolio in plastic films and sheets and to gain market advantage by supplying packaging solutions for the food, industrial, and medical packaging sectors.
KCS Plastics Ltd. is a Canada-based company operating in plastic films and sheets.
The countries covered in the plastic films and sheets market report is Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The plastic films and sheets market research report is one of a series of new reports that provides plastic films and sheets market statistics, including plastic films and sheets industry global market size, regional shares, competitors with plastic films and sheets market share, detailed plastic films and sheets market segments, market trends and opportunities, and any further data you may need to thrive in the plastic films and sheets industry. This plastic films and sheets market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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