Plastic Films & Sheets Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026

The COVID-19 pandemic continues to unfold every day with severe impact on people, communities, and businesses. The Plastic Films & Sheets market faced a negative impact by the pandemic mainly due to decline in demand for films and sheet from various end-use industries like packaging, automotive, and aerospace sector. As these sectors were under complete lockdown and also facing slow growth due to reduction in demand, which in return affects the plastic film & sheet market. Furthermore, reduction in construction activities mainly due to lack of funds and reducing purchasing power of the consumer is also hindering the market growth

 

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The report: “Plastic Films & Sheets Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Plastic Films & Sheets Industry.
By Type: Polypropylene (Biaxial Oriented Polypropylene (BOPP), Casted Polypropylene (CPP), and Others), Polyethylene (Polyethylene Terephthalate (PET), Linear Low-Density Polyethylene (LLDPE), Ultra-High Molecular Weight Polyethylene (UHMW-PE), Polyethylene Naphthalate, and Others), Polyvinyl Chloride (PVC) (Chlorinated Polyvinyl Chloride CPVC and Others), Rubber, and Others
By Application: Food Packaging, Stretch Film, Shrink Film, Heavy Duty Bags, Film on Reel, and Others.

By End Use-Industry: Automotive (Interior, Exterior and Others), Aerospace & Aviation, Packaging, Food & Beverages, Building & Construction (Commercial, Residential, and Others), Healthcare, Printing, Agriculture, and Others.

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia & New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Take away

Europe region is projected to witness significant growth in the global market due to the rising demand for specialty film and synthetic papers in the construction and packaging sector. In Europe, Germany is the key country driving market growth owing to the presence of various plastic converters.
Rising consumer income coupled with growing demand for packaged food is also contributing to the market growth.
The growing demand for medical packaging & consumer goods, further contribute to the market growth during the pandemic time.

Figure: APAC Plastic Films & Sheets Market Revenue, 2020-2026 (US$ Billion)




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Plastic Films & Sheets Market Segment Analysis - By Type

Polyethylene segment held the largest share of more than 40% in the global market in 2020. The PE-based films and sheets offer properties like high puncture resistance heat sealer, and high tensile strength, better production cost, and end product performance make them suitable to use across various applications. Moreover, these films and sheets are also very flexible, have low-temperature tolerance, bag tearing resistance, translucent, with good water vapor and alcohol barrier properties. Due to these properties, PE-based films and sheets are widely used in multi-layer cast stretch film, agricultural greenhouse film, medium to heavy-duty bags, and lamination packaging film. Whereas, the LLDPE sheet has good cold resistance, excellent weather ability, and high welding strength, which makes them widely used for construction activities.

Food Packaging segment held the largest share of more than 35% in the Plastic Films & Sheets market in 2020. In food packaging, the Polyvinyl chloride, Cast polypropylene, and Aliphatic Polyamides based plastic films are used for wet food, soup, processed meat, and frozen food packaging. The heat resistance, heat sealer, standard types, low-temperature sealing, antistatic types, lightweight, and easy to print information properties of plastic films and sheets make them suitable to use for various food packaging applications. Whereas, rapid change in people's lifestyles and food preferences of consumers along with the growing population in the developing nations is driving the growth of food packaging. Packaging addresses food waste by preventing chemical contamination, foodborne diseases, and preserves the quality of food.

 

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Plastic Films & Sheets Market Segment Analysis- By End-Use Industry

Food & Beverage segment held the largest share of more than 40% in the Plastic Films & Sheets market in 2020. The rise in demand for packaged foods & beverages in the emerging economies has a positive impact on the global food & beverage industry. Furthermore, a rise in population, increase in consumer income, and rapid urbanization is expected to drive the food & beverage industry over the forecast period. Such growth in the food & beverage industry has propelled the demand for plastic films for food packaging. As they protect the food from contamination and provide design flexibility. Furthermore growing consumption of synthetic paper from the food industry also drives the market.

 
Plastic Films & Sheets Market Segment Analysis - By Geography

Asia-Pacific held the largest share of more than 45% in the Plastic Films & Sheets market in 2020 followed by the North America and Europe region. China, Japan, South Korea, and India are the major contributors to the growth of the Plastic Films & Sheets market in APAC. The high population growth and improving standards of living have contributed to the demand in the region. Moreover, rise in purchasing power of consumers, increase in demand for consumer & medical goods, and high agricultural production has propelled the demand for Polyvinyl chloride, Cast polypropylene, Aliphatic Polyamides based plastic films & sheets in APAC. Furthermore, rapid urbanization, and increasing infrastructural activities & residential buildings are also fueling the growth of plastic films & sheets in Asia Pacific region. As per Indian Brand Equity Foundation (IBEF) report in 2020, the FMCG market is expected to grow 5-6% in 2020. Whereas, the online grocery market is estimated to exceed sales of about Rs 22,500 crore (around $ 3.19 billion) in 2020, which further drives the market in the region.

Bioplastic Films are known for being biodegradable and eco-friendly. Bioplastic is a biodegradable material that comes from renewable sources and can be used to reduce the problem of plastic waste that is dangerous to the planet and polluting the environment. These materials are 100% degradable, equally resistant, and adaptable. Bioplastic is already being used in agriculture, textile, food packaging, medicine, or pharmaceuticals packaging, and is becoming popular throughout Europe and the United States for ecological reasons. Bioplastic materials reduce the carbon footprint, consume less energy in production, they do not contain any harmful additives, such as phthalates or Bisphenol A, which makes them perfect to be used in film and sheet, and contribute towards the market growth. As per the European Bioplastic report released in the year 2020, the global production of bioplastics was about 2.11 million tons in 2019, with more than 53 % of the volume was consumed by the packaging market and it is expected to be 2.42 million tons by 2024.

 
Growing Pharmaceutical Industry is Driving the Market Growth

The growing pharmaceutical industry in the emerging nations due to increased demand for medication, a growing aging population, and an increase in chronic diseases further drives the market growth. As in Pharmaceutical Industry, plastic films and sheets are used for packaging of medication tubes, pre-fillable syringes, labels, accessories, inhalers, vials, pouches for drugs, medical products, and others. Whereas, the Polyvinyl Chloride (PVC) and Polyvinyl Dine Chloride (PVDC) are primary used for pharmaceutical packaging materials, which protect the pharmaceutical product against oxygen and odor, moisture, water vapor transmission, contamination, and bacteria. According to Packaging Europe, a private company report in 2019, the pharmaceutical packaging is expected to reach $128 billion by 2025, which will propel the demand for plastic films & sheets during the forecasted period.

 

 
Volatile Price of Raw Material and Lack of Skilled Labor

Plastic Films & Sheets are made of various synthetic polymers like Polyvinyl chloride, Cast polypropylene, Aliphatic Polyamides, and polyethylene that are produced from various resources like crude oil and biomass sources. Thus, any fluctuation in the price of these raw materials deters the market growth. For instance, the fluctuation in prices of crude oil from 2015 to 2020, is considered as one of the challenging factors the market growth. Whereas, the presence of skilled laborers is also hindering the growth of the market. Advancement in technology has risen the demand for skilled labor. Skilled labor along with the volatile price of raw material is hindering the growth of the market. Besides, the growing environmental safety and public awareness regarding the harmful effect of plastic products on the health as well as environment further acts as a restraining factor to the market growth.

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Plastic Films & Sheet Market report. Major players in the Plastic Films & Sheets Market are Saudi Basic Industries Corp., Plastic Film Corp., Sealed Air Corp., DowDuPont, Novolex, Bemis Co., Inc, Amcor PLC., British Polythene Industries Plc, Toyobo Co. Ltd., and Berry Global, Inc., among others.