Global Polyfilm Market: Overview
Polyfilms have become an integral part of our daily lives. They are eco-friendly and can be safely used for food packaging. Due to their flexible nature, these films find application in many end-use industries.
On the basis of Resin type, the market can be segmented into low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), High-density polyethylene (HDPE), biaxially oriented polypropylene film (BoPP), biaxially-oriented polyethylene terephthalate (BoPET), and biaxially oriented nylon film (BoPA)
The report presents a comprehensive overview of the various factors contributing to the expansion of the global polyfilm market. It also presents insights into challenges that the market could face over the forecast period. The prevailing trends in overall market operations are also studied in the report in detail.
Global Polyfilm Market: Key Trends
There are a few factors that are giving impetus to the market growth. They include technological developments in agriculture, rising demand for BoPET films, and increased usage of bio-based polymers. On the other hand, several European countries have stringent government and environmental regulations, limiting the growth of the polyfilm market.
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In terms of end-use industry, the packaging and agriculture segment is anticipated to witness substantial growth. The increase in population has given a boost to the food packaging industry, thereby raising the demand for polyfilms. Due to their environment-friendly characteristics and long shelf life, polyfilms have an edge over other films in the market. Plus, the improving retail sector is pushing the demand for polyfilms. Besides this, the increasing usage of greenhouse films for increased crop yield is leading to a rise in the demand for polyfilms in the agriculture segment of the market. Polyfilms are also being widely used across beauty and personal care, food and beverages, tobacco, and hygiene industries.
Based on resin type, LLDPE is a key market segment. High mechanical strength, transparency, improved sealing property, glossy appearance, and low production cost are a few of the properties augmenting the demand for LLDPE. LLDPE also performs well when blended with other resins.
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Global Polyfilm Market: Regional Overview
From a geographical standpoint, the global market for polyfilms can be segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific accounts for a large share in the polyfilm market in terms of volume, owing to the fact that a majority of the polyfilm manufacturers are based in India.
China is another promising market for polyfilms in the Asia Pacific region. Companies are spending significant amounts in setting up manufacturing units in this country. Few factors such as increased health awareness, changing lifestyle, and long shelf life of the film is driving the growth of the market. Environment-friendly bio-based polyfilms are also quite popular in China; however due to their high cost, they are losing out to other cheaper alternatives available in the market.
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Global Polyfilm Market: Key Markets
The report profiles some of the prominent competitors operating in the market. It also provides insights into the threats and opportunities that the companies are expected to witness in the coming years. The players in the global polyfilm market include Max Speciality Films, Formosa Plastics Corporation, Chiripal Polyfilm, Cosmo Films, Polyplex Corporation, Uflex Limited, Taghleef Industries, Vacmet India Pvt Limited, Garware Polyester, Jindal Polyfilm, and SRF Limited.