Global plastic films and sheets packaging market to reach US$138.3 bln by 2022 at CAGR of 5.5%

14-Jun-16

The global plastic films and sheets packaging market is poised to reach $138.3 billion by 2022 growing at a CAGR of 5.5%, as per Stratistics MR. Rising demand for bi-axially oriented films and increased demand for bio plastic materials are the key drivers of the market. Regulations restricting the use of non-biodegradable plastics and matured western European markets are restraining factors of the market. The opportunities lie in adoption of specialty films and growing usage of plastic films & sheets in agriculture. The increasing disposable income of the consumers together with the growing demand for packaged food is driving the market for plastic films & sheets. Based on application, the market is categorised into packaging and non-packaging. Packaging is further divided into food packaging, industrial packaging, consumer goods, pharmaceutical & medical packaging and others. Non-packaging is further divided into agriculture, construction, medical & health care and others.