Plastic sheets and films are commonly in the packaging and manufacturing industries. Overall industrial growth around the world is creating strong demand in various supporting industries including plastic films. Innovative applications and technological advancements in the quality of the materials are expected to drive the global plastic films market. Rising non-packaging applications are also expected to create impressive growth prospects for the businesses in the market. According to the experts, industrial growth in the emerging markets like Asia Pacific is also anticipated to create business opportunities for the key players in the industry.
3 Drivers for Plastic Sheets Market
According to the experts, the global plastic films market is steadily driven by three basic drivers. These drivers include strong rise in the demand for flexible packaging films and bi-axially oriented films. Shifting focus towards sustainable packaging materials is expected to create growth opportunities for the players in the market. Increasing concerns about environment protection, pollution control and growing demand for bioplastic materials are also expected to create impressive demand in the industry. Major restraining factors for the market include matured European markets and stringent government regulations across the world. However, positive outlook towards bioplastic products, use of specialty films and untapped business opportunities across emerging markets are expected to help business grow in the years to come.
Researchers segment the global plastic films market based on the types of applications, materials, and their demand across different parts of the world. The types of applications are basically segmented into packaging and non-packaging applications. The packaging applications are further divided into consumer products, medical, pharmaceutical, food, industrial and other types of packaging. The non-packaging applications include medical and healthcare, agriculture, consumer goods, construction and other applications. Basic types of products in the market are sub-categorized into Polyethylene, Polyester, Polypropylene and others. On the basis of demand across different geographic regions, the industry is divided into Europe, Asia Pacific, North America, and rest of the world.
According to the experts, the global plastic films market is set to witness steady growth in the years to come. By 2018, the plastic sheets and films market is expected to grow at a healthy CAGR of over 3% to become worth 70.9 Million MT (by the end of the year 2018). Asia Pacific region is expected to present immense investment and growth opportunities for the industry during the forecasting period. Maturity of North American and European markets and industrial growth in the emerging regions are expected to create potential opportunities for the established as well as potential players in the market.