Global Plastic Films Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 5.34% through 2020 to 2027, reaching US$ 151 Bn. The report has covered region wise market trends with competitive landscape. The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

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Global Plastic Films Market Dynamics:

The global plastic films market is driven by the high growth for bio-plastics products from food packaging applications across the globe and shifting consumer preferences towards eco-friendly products and purchasing products on e-commerce. The light-weight & sustainable nature of this product and most importantly they are recyclable and reusable, which are likely to fuel the market growth in the forecast period.

Growth in demand for decorative laminate products & solutions because of the usage of plastic as a substitute for glass and metal. This trend is expected to support the growth of the market in the future. Key players in emerging economies are focus on product variation as they provide varieties of plastic films for decoration, packaging, and several industrial applications.

However, Governments are imposing stringent regulations regarding plastics, their usage, and their recyclability may restrain the market growth at a global level. Growing concerns regarding the increasing cost of raw materials are also expected to hamper the global plastic film market over the upcoming period. The growing demand for biodegradable packaging materials from the packaging industry and the increasing use of energy-efficient technologies by plastic film producers are expected to create beneficial growth opportunities for key players in the market.

The PET segment is expected to grow at a CAGR of 7.6% during the forecast period.

The MMR report cover the detailed analysis of the global plastic film market by technology, material, application, and region.

Based on application, the packaging segment accounted for the largest market share of 6X% in 2019 and is expected to grow at a CAGR of XX% during the forecast period. Food packaging is the leading end-user in the plastic film market and is projected to increase the demand by XX% during the forecast period because of a rise in convenient packaging for ready-to-eat foods, frozen meals, snacks, and cake mixes. The growth in the pharmaceutical industry and the growing demand for flexible packaging are offering lucrative opportunities to medical packaging manufacturers in the near future. On the other hand, the decorative segment is expected to grow at a CAGR of 6.8% during the forecast period.

Based on product type, the PET segment has led the global plastic film market and is expected to grow at a CAGR of 7.6% during the forecast period.

Asia Pacific held the dominant market share of XX% in 2019

Asia Pacific held the dominant market share of XX% in 2019 and is expected to reach US$ XX Mn by the end of 2027, with a CAGR of 8.3%. This is attributed to the presence of two highly populated countries such as China and India. The well-established plastic film manufacturing base in China, Taiwan, India, Japan, and South Korea are successfully contributing to the market growth. In these emerging economies, the rising disposable income and the impact growth in the e-commerce sector have a positive impact on the plastic films market in the coming years. The growth of packaging applications in different end-use industries like pharmaceuticals, pet food, cosmetics, healthcare, food, and beverages are propelling the plastic films market growth in the region. In terms of volume consumption, China has led the Asian plastic films market in 2019 thanks to the rising purchasing power of consumers, growing demand for consumer & medical goods, and the massive agricultural production.

The global vendors are entering the Indian market through strategic partnerships. e.g., In 2019, Huhtamaki has acquired the Mohan MuthaPolytech Private Limited (MMPPL), a privately-owned flexible packaging manufacturer located in Sri City, Andhra Pradesh, India. This acquisition allows them to expand their customer base in South India, especially in the food and beverage sector.

Global Plastic Films Market Recent Development:

In 2019, Berry Global Group, Inc. a complete acquisition of RPC Group Plc, with a purchase price of around US$ 6.5 Bn. This acquisition would provide strength to the company's visibility in Australia because of the subsidiaries of RPC Group such as Synergy Packaging. Also, it creates a leading global supplier of value-added protective solutions and one of the largest plastic packaging companies in the world. This combination is expected to target $1XX Mn of annual cost synergies.

The objective of the report is to present a comprehensive analysis of the Global Plastic Films Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Plastic Films Market dynamics, structure by analyzing the market segments and project the GlobalPlastic Films Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Plastic Films Market make the report investor’s guide.

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Scope of the Global Plastic Films Market: Inquire before buying

Global Plastic Films Market, by Technology:

• Double & Multi-bubble Technology
• Blown Film Technology
• Cast Film Technology
• Barrier Film
• Others

Global Plastic Films Market, by Material:

• Polypropylene
• LLDPE
• LDPE
• HDPE
• PET
• Others

Global Plastic Films Market, by Application:

• Medical and Healthcare
• Agriculture
• Packaging
• Decorative
• Construction
• Others

Global Plastic Films Market, by Region:

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa

Global Plastic Films Market, Major Players:

• Toray Industries, Inc.
• Amcor plc
• Berry Plastics Corporation
• Honeywell International Inc.
• DuPont Teijin Films
• SABIC Innovative Plastics
• KlöcknerPentaplast Group
• British Polythene Industries PLC
• TrioplastIndustrierAB
• Bemis Company, Inc
• Jindal Poly Films Ltd
• Paragon Films, Inc
• Taghleef Industries
• Toyobo Company Ltd
• Sinopec Shanghai Petrochemical Company Limited
• Sumitomo Bakelite Company Limited
• Exxon Mobil Chemical Company
• Vibac Group Spa
• Inteplast
• Uflex Ltd
• Chrystal Plastic S.A.S.
• Inteplast Group

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