Plastic Films and Sheets Market was at US$ 126.56 Bn in 2021 and is growing to approx US$ 199.13 Bn by 2030, with a CAGR growth of 5.53% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, February 7, 2023 /EINPresswire.com/ -- According to the study, The Global Plastic Films and Sheets Market was estimated at USD 126.56 Billion in 2021 and is anticipated to reach around USD 199.13 Billion by 2030, growing at a CAGR of roughly 5.53% between 2022 and 2030.

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Plastic Films and Sheets Market: Overview

Plastic films and sheets are thin, flexible sheets of plastic and tiny material less than 10mm in size. It is also called polybags and comprises polyethylene, one of the most important components of plastic packaging. It is lightweight, corrosion, weather, and binding resistant, owing to which it is extensively used for protection, handling, containment, delivery, and presentation of other products, from carrying raw materials to processed goods, from the producer to the end-use customer.

Plastic Films and Sheets Market: Growth Drivers

The personal care sector is one of the emerging sectors across the globe where plastic films and sheets are extensively used to protect, preserve, store, and transport products such as various skincare and body care products, including soap, lotions, face creams, gels, and moisturizers+. The growing demand from the cosmetics and personal care industry has increased the potential sales of plastic films and sheets in the market.

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Key Insights:

A) As per the analysis shared by our research analyst, the Plastic Films and Sheets market is estimated to grow annually at a CAGR of around 5.53% over the forecast period (2022-2030).
B) In terms of revenue, the Plastic Films and Sheets market size was valued at around USD 126.56 Billion in 2021 and is projected to reach USD 199.13 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The stringent government norms and regulations on plastic films and sheets ban are expected to hamper the overall market growth. On the other hand, manufacturers are switching to alternative substitutes for plastic films and sheets due to government programs for sustainable and plastic-free environments.
D) The growing population across the globe, increased number of working women, and rising demand for ready-to-eat packaged food have given way to the plastic films and sheets industry. Rigid plastics are extensively used in the manufacturing of plastic containers. This is projected to propel the growth of the plastic films and sheets market in the upcoming years.
E) Over the forecast period, the recyclability of plastic becomes one of the most challenging factors in the plastic films and sheets market. In response, higher lead time and tooling costs involved in injection molding technology will likely act as challenging factors during the forecast period.

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Regional Landscape

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific is the dominant region in the plastic films and sheets market. This region is also anticipated to maintain its dominance throughout the forecast period, with 43% of the total share. Countries such as China, Japan, India, and others significantly contribute to the growth of the region’s plastic films and sheets market. Key factors such as pharmaceuticals, cosmetics, personal care products, the medical sector, food and beverages, and other end-use industries have surged the demand for plastic films and sheets.

Furthermore, the healthcare sector is one of the booming sectors in India. For instance, according to a report published by NITI Aayog in March 2021, India’s healthcare industry has been growing at a Compound Annual Growth Rate (CAGR) of around 22% since 2016. This rate is expected to reach USD 372 billion in 2022. These factors together increase the usage of plastic films and sheets in the growing healthcare industry for packaging various healthcare products such as surgical containers, medical bottles, saline bottles, syringes and many others.

Moreover, China has a dynamic market for the electronics and food & beverages sector owing to a rise in the population, growing plastic films and sheets plants, rise in import and export trade, and increased demand for food enhanced where plastic films and sheets are predominately used for packaging of ready to eat foods. In addition, the growing chemical industry and the increase in building and construction activities further impetus the market growth. This is augmented to enhance the demand for plastic films and sheets in the Asia-Pacific region.

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Key Players

Toray Industries, Inc.
British Polythene Ltd.
Toyobo Co., Ltd.
Berry Global, Inc.
SABIC
Plastic Film Corporation of America
Sealed Air
Dow
DuPont
Novolex
Amcor plc
UFlex LtdInc.

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The Plastic Films and Sheets Market is segmented as follows:

By Product Type

PA
PVC
BOPP
LDPE/LLDPE
HDPE
CPP

By Application

Packaging
Non-packaging

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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