Polyethylene Films Market size is forecast to reach $106.42 billion by 2025, after growing at a CAGR of 4.52% during 2020-2025. Rising disposable income and concerns about the growing use of bioplastic materials drive the growth of the sector. In addition, an increase in demand as a replacement for glass and metal for polyethylene films boosts market growth. There is also expected to encourage market growth with increased demand for hygienic and durable food packaging materials combined with a rise in consumer environmental concerns.
The market is witness to high demand due to the elastic nature of polyethylene films which allow good toughness films for food packaging and non-food applications to be developed. The demand for polyethylene films is driven by advances in food and drink packaging.
The growth of the global polyethylene film market over the forecast period is expected to fuel demand for more eco-friendly goods. However, certain restrictions on the use of plastics that are non-biodegradable and produced in Europe are anticipated to impede market development.
The COVID-19 pandemic and subsequent halt in manufacturing activities shall have an impact on the supply availability of a variety of Polyethylene Films. Furthermore, current disruption in trade shall also gravely impact the availability of stocks in import-dependent countries.
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Application – Segment Analysis
Food Packaging segment has been the primary market for Polyethylene Films for many years at a CAGR of 5.26%. The main asset of the food industry is polyethylene film packaging. It is eco-friendly and increases customer convenience. Due to this, there is significant competition in the food and beverage market among the players who provide quality products to the consumers. Many retail stores use polyethylene film packaging materials to preserve food and to retain the nutritional value of foods.
Drivers – Polyethylene Films Market
Increasing usage because of its properties
Major players in the Polyethylene Films Market are AEP Industries, Amcor Ltd., Berry Plastics Corporation, DuPont Teijin Films, Exopac Holdings Corporation, Jindal Poly Films, Sealed Air Corporation, Hilex Poly Co LLC, Innovia Films Ltd., and Ampac Holdings, among others.
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