Rockville , March 13, 2024 (GLOBE NEWSWIRE) -- The global plastic film market is estimated at US$ 95,615.9 million in 2024, projected to grow steadily with a 4.6% CAGR through 2034. The market is projected to account for valuation of US$ 149,915.7 million by 2034. The primary driver of plastic film market growth is its extensive use in the packaging industry. Films offer versatility, durability, and cost-effectiveness, meeting the packaging needs of various sectors, including food and beverage, pharmaceuticals, personal care, and consumer goods.

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Consumer preferences for convenience and on-the-go products have increased the demand for single-serving and portable packaging, where plastic films play a vital role due to their lightweight nature and ability to protect and preserve products. Stringent regulations regarding food safety and hygiene have propelled the demand for plastic films with superior barrier properties, ensuring the protection and preservation of perishable goods.

Plastic films are finding expanded use in various industries beyond packaging, such as construction, agriculture, electronics, and healthcare, driven by their versatility and protective properties. Plastic films are lightweight, reducing overall packaging weight and transportation costs. This feature aligns with logistics demands and sustainability goals, leading to their widespread adoption. Manufacturers in emerging economies prioritize product diversification, offering a spectrum of plastic film types for packaging, decorative, and industrial uses.

Report AttributeDetails
Value Projection (2034)US$ 149,915.7 million
Growth Rate (2024-2034)4.6% CAGR
No. of pages170 Pages
No. of Tables48 Tables
No. of Figures144 Figures

Key Takeaways from Market Study

  • The global plastic film market is projected to expand at a CAGR of 4.6% through 2034.
  • The North America plastic film market is expected to grow at a CAGR of 5.3% through 2034.
  • The plastic film industry in the United States holds a dominant share of 68.3% in 2024.The United States dominates the global plastic film market, valued at US$ 16,065.2 million in 2024.
  • The plastic film industry in China is expected to rise at a CAGR of 5.2% through 2034.
  • Based on type, PET segment hold a 36.5% market share in 2024.
  • The packaging segment dominates application with a 76.4% share in 2024.

“The growing focus on flexible packaging solution, boosting demand for plastic films,” remarks an analyst at Fact.MR.

Key Companies Profiled in This Report

  • The Dow Chemical Company
  • DuPont
  • Eastman Chemical Company
  • Evonik Industries AG
  • Amcor Limited
  • Berry Plastics Corporation
  • Griffon Corporation Inc.
  • Mitsubishi Chemical Holdings Corporation
  • Honeywell International Inc.
  • Saudi Basic Industries Corporation

Competitive Landscape

The plastic film market is competitive, with both domestic and international players vying for market share. The Market players invest in new technologies and process optimizations to enhance efficiency, reduce waste, and lower production costs while maintaining product quality.

  • Evonik Industries AG has been involved in developing specialty polymer solutions for the plastic film industry. Their focus lies in creating films with advanced properties like high barrier performance, transparency, and durability. They have also explored the development of bio-based or biodegradable films to address sustainability concerns.
  • Amcor Limited is a global packaging company that has made strides in the plastic film market. They specialize in flexible and rigid packaging solutions, developing films tailored to specific industry needs. Amcor's efforts include investing in recyclable and compostable films, aligning with their commitment to sustainable packaging solutions.

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More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global plastic film market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024-2034.

The study reveals essential insights on the Type (PET, PVC, PP, PET, Others) By Application (Packaging, Decorative, Industrial) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).

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The demand for laminated packaging films is increasing over the time due to the adoption of high-quality packaging solutions by the food & beverages and pharmaceutical industries. These two industries use laminated packaging films in almost all the application of primary packaging.

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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