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(IndustryNews247.Com, June 29, 2020 ) Market Overview
• The Global Plastic films and sheets market is expected to grow at a CAGR of 5.8% during the forecast period.
• Plastic film is a thin continuous polymeric material. Thicker plastic material is often called a "sheet". These thin plastic membranes are used to separate areas or volumes, to hold items, to act as barriers, or as printable surfaces. Plastic Films are used in a wide variety of applications. These include packaging, plastic bags, labels, building construction, landscaping, electrical fabrication, photographic film, film stock for movies, videotape, etc. Plastic Sheets are crafted from raw plastic and are used as a component in crafting machines from Mine Factory Reloaded. They are also used in crafting the factory machine block, another integral component in crafting machines from mine factory reloaded.
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• Rising demand for bioplastic materials and increasing usage of plastic Films & sheets in agriculture are the major driving factors for the market growth. With the economy slowly on the rise Europe's bioplastic interest peaks. Bioplastics production, though small, is growing rapidly, with many new products and applications emerging as a consequence of intensive research and development (R&D) efforts. Bioplastic companies hire new employees, build business partnerships and up to manufacturing. To name a few examples, many food-chain suppliers, Coca-Cola, Pepsi-Cola, Nestle, and consumer companies such as Mazda and Newell Rubbermaid are already pushing for a greater percentage of the storage, plastic Films, and materials to come from renewable sources. Production and bioplastic technologies are certainly expanding as the market increases its demand. Bioplastic industries have a strong foothold in Asia-particularly in Japan and China.
• Regulations restricting the use of non-biodegradable plastics are the key restraint hampering the growth of the market.
Market Segmentation Analysis
• By application, the plastic Films and sheets market is segmented into packaging and non-packaging. The packaging is again divided into industrial packaging, food packaging, pharmaceutical & medical packaging and consumer goods. Non-Packaging is further classified into medical & health care, construction and agriculture. The global plastic Films and sheets market size by packaging segment was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• On the basis of product, the plastic Films and sheets market is classified into polyester (PES), polyvinyl chloride (PVC), biaxially-oriented polyethylene terephthalate (BOPET), linear low-density polyethylene (LLDPE), polyamides (PA), high-density polyethylene (HDPE) and others. Others are further divided into high-density polyethylene (HDPE), low-density polyethylene (LDPE), cast polypropylene (CPP). The global plastic Films and sheets market size by high-density polyethylene (HDPE) segment was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• HDPE is the most widely used type of plastic. It’s used to make many types of bottles and containers. Unpigmented bottles are translucent, have good barrier properties and stiffness, and are well suited to packaging products with a short shelf life such as milk. Because HDPE has good chemical resistance, it is used for packaging many household and industrial chemicals such as detergents and bleach. Pigmented HDPE bottles have better stress crack resistance than unpigmented HDPE. Companies are introducing HDPE products in the market. For instance, Envision has launched a product that is fit for most high-density polyethylene (HDPE) plastic.
Market Geographical Analysis
• The Asia Pacific plastic Films and sheets market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Asia Pacific is expected to grow with high CAGR in the forecast period due to the huge demand for plastic Films and sheets especially in the food & beverage and pharmaceutical industry. China and India are expected to grab major market share in the forecast period. Companies are focusing on acquisitions in order to extend their market shares. For instance, In August 2019, Piovan SpA has acquired TobaPNC Co. Ltd., a South Korean automation company specializing in industrial processes for plastics. Adding to this, Bemis hs acquired Foshan New Changsheng Plastics Films Co., has built a platform in the Asia Pacific region. Furthermore, In July 2017, In China, Dow’s Packaging and Specialty Plastics (P&SP), a business unit of The Dow Chemical Company has launched tenter frame biaxially oriented polyethylene (TF-BOPE), innovative and revolutionary addition to the INNATE™ Precision Packaging Resin family.
Market Competitive Trends
• The plastic Films and sheets market is highly competitive with existing players in the market.
• Some of the major players include Saudi Basic Industries Corporation, Jindal Poly Films Ltd., Sealed Air Corporation, Toray Industries, Inc., Berry Plastics Group, Inc., Amcor Limited, Uflex Ltd, Bemis Company, Inc., AEP Industries Inc., and Toyobo Co., Ltd.
• The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Plastic Films and Sheets Market.
• In August 2019, Curbell Plastics Inc. of Orchard Park has acquired Nationwide Plastics Inc., which fabricates plastic parts and does precision machining.
• In August 2019, Piovan SpA has acquired TobaPNC Co. Ltd., a South Korean automation company specializing in industrial processes for plastics.
• In November 2018, Tekni-Plex, Inc. has acquired Beyers Plastics, Puurs, Belgium, a cleanroom Class 7 extruder and converter of polyethylene (PE) film, from investment company FAMO N.V
• In February 2018, Delta Plastics, a significant player in agricultural plastics recycling, has acquired two related companies, Los Angeles-based Command Packaging and Salinas, Calif.-based Encore Recycling.
• In July 2017, In China, Dow’s Packaging and Specialty Plastics (P&SP), a business unit of The Dow Chemical Company has launched tenter frame biaxially oriented polyethylene (TF-BOPE), innovative and revolutionary addition to the INNATE™ Precision Packaging Resin family.
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