Plastic Films & Sheets Market Forecasts to 2028 – Global Analysis By Material Type, Application (Bags, Packaging Films, Pouches, Shrink Films, Wraps), End User (Packaging, Non-Packaging), and By Geography

Plastic Films & Sheets Market Forecasts to 2028 – Global Analysis By Material Type, Application (Bags, Packaging Films, Pouches, Shrink Films, Wraps), End User (Packaging, Non-Packaging), and By Geography

According to Stratistics MRC, the Global Plastic Films & Sheets Market is accounted for $120.37 billion in 2021 and is expected to reach $171.65 billion by 2028 growing at a CAGR of 5.2% during the forecast period. The plastic films and sheets are composed of polyethylene and polypropylene and are largely substitute products such as glass and metal. Plastic films find their application in variety of uses such as labels, packaging, plastic bags, building and construction, electrical fabrication, photographic film, and others. Plastic sheets are prepared from raw plastic and are widely used in crafting machines. Cost effectiveness along with durability and versatility is expected to drive the demand across several application bases.

Market Dynamics:

Driver:

Increasing positive outlook for specialty films

Specialty films are made of specialty polymers and retain different characteristics than the conventional films. These films are distributed as polyolefin, polyester, nylon, and polyvinyl butyl flicks. Specialty films are more precious than commodity films and are used in several packaging andnon-packaging operations. The demand growth of specialty plastic films is advanced than the other marketable films. The demand formulti-layer hedge films drive the request for specialty films. Non-porous and light hedge parcels of similar films make it a perfect choice for the meat packaging assiduity. The demand for similar films is also anticipated to be driven by its operations in medicinal and cosmetics packaging. The demand for specialty films made of biodegradable and compostable accoutrements is passing the loftiest growth.

Restraint:

Challenges with plastic recycling

The recyclability of flexible plastic is an environmental and social issue and is also a major challenge faced by the packaging as well as the non-packaging assiduity. The process of recovering multiple- subcaste flexible plastic is complex as it involves further way compared to the mono- subcaste flexible plastics. Multi-layer flexible plastic films or packaging involves a blend of polymer types and inks, which makes it delicate to sort from bulk waste. Each subcaste needs to be anatomized, linked, and reclaimed collectively. During the recycling process, polypropylene (PE) films and other plastics used for flexible plastic packaging are stuck in the machine, causing dislocation, therefore performing in an increase in product charges and time.

Opportunity:

Growing demand for bi axially oriented films

BOPP films are used in electrical & electronics, packaging, imaging, graphics, and industrial specialty applications. It is the most preferred material for food packaging as it is non-toxic and acts as a barrier to aroma. Bi-axial films are stretched in both machine direction (MD) and transverse direction (TD) to design it with better mechanical, optical, and barrier properties. Orientation creates various changes in the property of the film such as high stiffness, lower elongation, and lustrousness. The bi-axially oriented films have unique properties which allow it to stretch in two distinctive directions. The growing demand of bi-axially oriented films encouraged a number of plastic film manufacturers to divert their manufacturing efforts and invest in bi-axially oriented film. Food packaging is the major application of these films. Hence, with the increasing growth of the food packaging industry in the emerging nations, the demand for bi-axially oriented films has increased.

Threat:

Slow growth rate from Western European regions

The plastic films & sheets market in Western Europe registered a decreased growth during the last couple of years. This was majorly owing to the maturing markets in big economies such as Italy, the UK, Germany, and France. Both PP and PE film industries experienced a decreased growth in Western Europe during the last decade. In addition, the financial turmoil in Italy resulted in a decline in growth for packaged food, which in turn affected growth of the plastic films & sheets market in the country. In the similar manner, the UK France also registered slow growth in the demand for films.

The linear low-density polyethylene (LLDPE) segment is expected to be the largest during the forecast period

The linear low-density polyethylene (LLDPE) segment is estimated to have a lucrative growth. Linear low-density polyethylene films & sheets provide high tensile strength, suitable low-temperature properties, and higher puncture resistance. These films & sheets are the majorly used polyethylene films. They can be cast or blown similar to LDPE. LLDPE is replacing conventional LDPE in many areas, owing to their combination of favorable production cost and product performance. LLDPE films & sheets are rapidly used in the food packaging industry in applications such as retail merchandise bags and ice bags. In addition, it is majorly utilized in garment packaging. These films have various applications in the agriculture industry as well. Plastic sheets protect the crop from erosion and improve the food quality. In addition, covering the ground with plastic films helps in maintaining humidity in the soil and reduces evaporation.

The non-packaging segment is expected to have the highest CAGR during the forecast period

The non-packaging segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the rising applications in construction and agricultural applications. The lower prices, easier availability, coupled with durability are expected to fuel their demand during the forecast period. One of the key growth drivers of the non-packaging applications is the tremendous rise in the medical industry. Due to advancements in science and technology, the medical industry has been growing at a rapid pace over the past few years and this trend is anticipated to continue especially in emerging counties such as Brazil China, and India. Plastic sheets gels are used extensively in agricultural activities to cover the soil in order to save water for irrigation purposes.

Region with highest share:

South America is projected to hold the largest market share during the forecast period. Argentina, Peru, Brazil, Colombia, and others are the high growth potential markets, which are characterized by the booming industrial sector and growing GDP per capita. Growing automotive production in these countries as mitigation from the U.S. is anticipated to act as a primary growth factor for the region’s economic growth in the future. In addition, emergence of construction companies in Peru and Chile is anticipated to create lucrative growth potential for the market in construction applications over the forecast period. Moreover, the presence of various players including Sherwin-Williams, AkzoNobel, and BASF, is expected to propel market growth in the region.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the rising demand for plastic films & sheets in emerging economies, such as Indonesia, Malaysia, Vietnam, Singapore, Thailand, India, and China, in the region. In addition, changing trends, growth in population, increasing urbanization rate, and increasing disposable income are driving the consumption of food, particularly, packaged foods. Moreover, increasing demand due to changing demographics, rise in industrialization, and government initiatives to attract business investments in various industries including packaging, construction, industrial, electronics, and pharmaceuticals, are also driving the market for plastic films & sheets.

Key players in the market

Some of the key players profiled in the Plastic Films & Sheets Market include Amcor PLC, Bemis Company, Inc, Berry Global Group Inc, British Polythene Industries Plc, DuPont Teijin Films, Jindal Poly Films Limited, Novolex, Oben Holding Group, Saudi Basic Industries Corporation (SABIC), Sealed Air Corporation, Toray Industries, Inc, Toyobo Co., Ltd, and Uflex Limited.

Key Developments:

In October 2021, Berry Global announced that it has plans to expand its manufacturing operations in the North American region for foodservice packaging. This will have an investment of more than USD 110 million to expand its proprietary polypropylene thermoforming capabilities to manufacture packaging solutions for quick-service restaurants, coffee shops, and other foodservice markets.

In April 2020, SABIC has launched a non-chlorinated and non-brominates opaque sheet under its LEXAN brand. The sheet aims to provide anti-bacterial, hygienic, and touchable wall cladding solutions for public facilities and hospitals.

Material Types Covered:
• Biaxially Oriented PolyPropylene Films (BOPP)
• Cast Polypropylene (CPP)
• High-Density Polyethylene (HDPE)
• Linear Low-Density Polyethylene (LLDPE)
• Low-Density Polyethylene (LDPE)
• Polyamide (PA)
• Polyester (PES)
• Polyvinyl Chloride (PVC)

Applications Covered:
• Bags
• Packaging Films
• Pouches
• Shrink Films
• Stretch Films
• Wraps

End Users Covered:
• Packaging
• Non-Packaging

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances