Global polyolefin film market to reach US$125 mln by 2024 at a CAGR of 4.2%

12-Sep-19

The polyolefin (POF) film market is expected to reach an estimated $125 billion by 2024 with a CAGR of 4.2% from 2019, as per ResearchAndMarkets.com. The future of the polyolefin (POF) film market looks promising with opportunities in the packaging, construction, and agriculture industries. The major drivers for this market are increasing demand for packaged food in emerging nations and growth in oriented film.

Emerging trends, which have a direct impact on the dynamics of the polyolefin (POF) film industry, include bio-based polyolefin film and development of nano-clay based polyolefin film. Within the polyolefin film market, packaging will remain the largest end-use industry and it is also expected to witness the highest growth over the forecast period due to the increasing demand in food and pharma packaging applications.

The analysts forecasts that the LLDPE film will remain the largest segment due to its superior properties, which include high flexibility, higher tensile strength, and a high moisture barrier. The BOPP film is expected to witness the highest growth over the forecast period due to increasing demand in the food packaging industry specifically in tobacco packaging. The Asia Pacific will remain the largest region by value and volume and it is also expected to witness the highest growth over the forecast period because of easy availability of raw materials at economical price and skilled labors. Also, growth in the food packaging market and construction activities are also expected to increase the demand for polyolefin film.