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Key Players Profiled in PE Films Market are Berry Global Group, Mondi Group, ProAmpac LLC, Amcor Plc, Sealed Air Corporation, Winpak Ltd
DUBAI, United Arab Emirates, May 04, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights (FMI), the global PE films market is projected to reach a valuation of US$ 79.2 Bn by 2032, with sales growing at a CAGR of 4.3% over the forecast period. PE films are cheap, flexible and versatile that gives them a competitive edge in the packaging industry.
Packaging films are manufactured by either blown film or cast film processes, which involve the melting polymer resins, extruding the polymer melt with the help of a die, and stretching and cooling the melt into a film. Different types of polymers are used for a variety of films that are used in the packaging of different products depending on the level of protection and type of packaging required.
PE films offer various benefits such as barrier properties, light weight, flexibility, aroma locking, water & air resistance, and no chemical reaction. These features help in keeping products safe as and fresh during transport & storage. Surging demand from the food & beverage sector will continue driving sales in the market.
Consumers are preferring attractive, convenient, and sustainable packaging. These films offer several benefits such as convenience, food safety, and better quality to consumers, retailers, and the foodservice sector. Moreover, the emergence of bio-based PE films that are environmentally friendly will also spur demand in the market.
Further, growing popularity of pouches for a wide range of foods, as well as the advent of innovative packaging solutions for pharmaceutical and medical packaging products will augment the growth in the market.
Moreover, increasing sales of PE films in the agriculture sector will create opportunities for growth in the market. In horticulture, optimal protection of crops from severe weather, wind, snow, and heavy rain is imperative. PE films are used as a plastic cover in greenhouses to protect plants and crops and to create a restricted environment with controlled microclimatic conditions.
Greenhouse coverings, low and medium tunnel covers, and soil mulching are some of the applications for PE films.
Besides this, PE films are widely used in the construction sector for several end use applications like vapour retarders, window films, flooring and countertop protection, and roofing. These sheets can be used to block off rooms, cover building components, and protect people from lead poisoning in some cases. The extensive applications of PE films in the food, beverages, construction and many other end use industries is augmenting the growth in the market.
“Increasing applications of PE films for the packaging of ready-to-eat meals, along with expansion of the ecommerce sector in emerging economies will continue fueling the growth in the market over the forecast period,” says an FMI analyst.
· By material, sales in the linear low density PE films segment will grow at a 3.6% CAGR over the forecast period.
· In terms of end use, demand in the food and beverage segment is anticipated grow by 1.6x during the assessment period.
· The U.S. will account for nearly 18.3% of the North America PE films market through 2032.
· Total sales in the India market will reach a valuation of US$ 7.3 Bn by 2032.
PE Films Market Landscape
Berry Global Group, Mondi Group, ProAmpac LLC, Amcor Plc, Sealed Air Corporation, Winpak Ltd, Huhtamaki Oyj, Glenroy, Inc., Plastissimo Film Co., Ltd., Bischof & Klein GmbH, Schur Flexibles Holding GesmbH, Klöckner Pentaplast, Grupo Plastilene S.A.S., Flexopack SA, Cosmo Films Ltd. are some of the key players in the PE films market.
5.2. Current and Future Market Volume (Tonnes) Projections, 2022–2032
5.3. Y-o-Y Growth Trend Analysis
TOC Continued…
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
