Plastic films & plastic sheets to grow will 2018

07-Oct-14

The Plastic films and sheets market consumption will grow from an estimated 59.9 mln mt 2013 to 70.9 mln mt by 2018, with a CAGR of 3.4% from 2013 to 2018, as per Markets&Markets. Plastic films and sheets are integral parts of society today. With rising global population and disposable income, plastic films and sheets are finding increasing applications in packaging as well as in non-Packaging sector globally. In packaging, plastic films and sheets are used in food, pharmaceuticals, personal care, industrial and other applications. Food packaging is the key driver for plastic films and sheets in packaging sector. In modern days, plastic films are extensively used in flexible packaging. In non-packaging, plastic films and sheets find application in agriculture, construction, medical and health care, consumer goods, and others. Asia-pacific is the key market for plastic films and sheets with more than 30% of global market share. Rising middle class in China and India is the major driving force for the industry. However, developed regions such as North America and Europe are experiencing slow growth in the sector. However, specialty films and biodegradable films are slowly gaining in importance in such developed economies. The increasing demand for packaged food and pharmaceutical products in growing economies such as China, India, Turkey, Poland, Brazil, and Mexico is driving the global market for plastic films and sheets. Plastic films and sheets have been commercialized and used in packaging of food products, pharmaceutical and medical products, consumer products and industrial products. Films and sheets are also used in non-packaging purposes in agriculture, construction, health care and others. Food industry is the largest consumer of plastic films and sheets in packaging sector, followed by pharmaceutical and medical packaging. However, pharmaceutical and medical packaging applications are expected to offer the highest growth during the next five years. The demand for plastic films and sheets is increasing in non-packaging applications due to its increased uses in the agriculture industry.