CHICAGO, Oct. 10, 2023 /PRNewswire/ -- The report "Plastic Films and Sheets Market by Type (LLDPE, LDPE, HDPE, BOPP, CPP, PVC, PES, PA), Application (Stretch Films, Shrink Films, Bags, Pouches, Wraps), End-use industry (Packaging, Non-packaging), and Region - Global Forecast to 2028", is projected to reach USD 182.5 billion by 2028, at a CAGR of 5.4% from USD 140.0 billion in 2023.
The plastic films & sheets market is mainly driven by the increased demand across various end-use industries Moreover, it is also driven by rapid globalization & urbanization.
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"PA segment is projected to grow at fastest CAGR, in terms of value, during the forecast period."
PA (polyamide) plastic films and sheets are high-performance materials with exceptional mechanical strength, chemical resistance, and versatility. Widely used in industries like packaging, automotive, and electronics, they provide crucial benefits such as moisture and oxygen barrier properties, durability, and lightweight strength. These materials enable businesses to create reliable products for diverse applications, ensuring quality, durability, and cost-efficiency in various sectors.
"Packaging is projected to be the fastest growing end-use industry type in the plastic films & sheets market, in terms of value."
The packaging end-use industry is a pivotal segment in the plastic films and sheets market. These materials play a vital role in packaging solutions due to their versatility, barrier properties, and cost-effectiveness. They are employed in flexible packaging, ensuring the protection and preservation of food, pharmaceuticals, and consumer goods. The growing demand for sustainable packaging materials further drives innovation in this sector, with eco-friendly alternatives gaining prominence. As consumer preferences evolve, the packaging industry continues to rely on plastic films and sheets for delivering attractive, functional, and environmentally responsible packaging solutions.
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"Asia Pacific is expected to be the fastest growing market for plastic films & sheets during the forecast period, in terms of value and volume."
The markets of Asia Pacific are registering high growth, and the trend is projected to continue during the forecast period. Emerging economies such as India, and China are investing in various industrial developments that are driving the plastic films & sheets market. The Asia Pacific region has a large population and a growing middle class, leading to increased consumer purchasing power. The market is driven by various industries, including packaging, agriculture, automotive, and construction, which require plastic films and sheets for applications such as packaging materials, agricultural films, automotive interiors, and building construction.
New product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the plastic films & sheets market include Amcor PLC (Switzerland), Berry Global Group, Inc. (US), Sabic (Saudi Arabia), Toray Industries, Inc. (Tokyo), Sealed Air Corporation (US), Uflex (India), Toyobo Co. Ltd. (Japan), Jindal Poly Films Ltd. (India), Dupont Teijin Films (US), Oben Holding Group (Peru).
Browse Adjacent Market: Resins and Polymers Market Research & Consulting
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Biodegradable Plastics Market - Global Forecast to 2028
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