"Overview of Cast Films Market"
The Demand For Cast Films Market Was Estimated At US$ 60 Bn In 2018. It Is Projected To Witness A CAGR Of ~6 % During The Forecast Period
The demand for high-quality cast films is growing, as the packaging industry is governed by numerous governing bodies as well as environmental organizations. These bodies expect the high value of optical properties and good quality cast films to be used in end use industries.
Manufacturers are focused on innovating new types of cast films and meeting particular requirements of end users. Moreover, the global market for flexible packaging solutions is rapidly growing and this is one of the factors boosting the demand of cast films.
Consumers are progressively changing to smaller serving sizes, especially as it relates to food products or beverages, and the supply for light packaging is increasing. With an increasing number of consumers expressing their demand for spacious and convenient packaging in products, the applications of cast film in the manufacture of modular packaging such as pouches are likely to increase in the coming years.
Polypropylene Had Accounted For a Significant Share XX% in 2018 and Is Expected To Remain Dominant during the Forecast Period
Among the different types of materials, polypropylene is most widely used in the manufacture of cast films, followed by polyethylene. This choice is due to various benefits offered by polypropylene such as high sealing strength, puncture resistance, and others.
However other material such as polyamide is expected to expand at a CAGR of 6% during the forecast period.
In addition to this, Cast Polypropylene films have a high level of clarity as compared to other alternatives available in the market. The demand for metallic cast propylene films is also expected to increase owing to its high barrier properties, making it ideal for packaging applications in bakery and confectionery.
Food And Beverages Had Accounted For A Significant Share Of More Than Xx% In 2018 And Is Expected To Remain Dominant During The Forecast Period
Food & Beverages was the largest application segment in the cast film market. Cast films are widely used in the food and beverage owing to various properties such as high visibility and brightness, strong sealing strength and good moisture barrier. The fast-growing food & beverage industry around the globe will fuel demand for polypropylene film coated over the forecast period.
Moreover, the high demand for cast films is expected due to growing packaged food demand in various countries such as India, China. This is owing to changing lifestyles and growing disposable income in these countries.
In addition to this, the growing food and beverage industry is projected to fuel demand for metallic cast films during the forecast period.
Asia Pacific Had Accounted For A Significant Share In 2018.
Asia Pacific is estimated to be the biggest region in the cast film market with revenue of more than US$ 490 Mn.
Considerably rising end-use sector in the region is expected to boost the cast film market. China is one of the largest producer and exporter of textiles and cast films are widely used in this industry. Chinese textile exports account for more than 40% of global exports of textiles and clothing. The huge size of the end use sector in the region is expected to boost the demand of cast films in the near future.
Competitive Landscape Analysis:
The market for Cast Films is fragmented and competitive. The market share of Cast films is diversified with the involvement of global and local manufacturers operating in the value chain. A lot of them Big manufacturers in the field are as Uflex Ltd, Jindal Poly Films Limited, Berry Global, Inc. Winpak Ltd., Intertape Polymer Group Inc. , Nv., Clondalkin Group Holdings BV., KG., Polyplex Corporation Ltd.,Profol Kunststoffe GmbH.,POLIFILM GmbH.,Copol International Ltd.,Oben Holding Group S.A.C.,Sigma Plastics Group, Inc., Scientex Berhad, Paragon Films, Inc., RKW Hyplast, Manuli Packaging (UK) Ltd.,Taghleef Industries LLC, Bischof + Klein SE & Co. and Bemis Company.
Cast Films Market Segmentation:
Cast Films Market by Material:
Cast Films Market by Product:
Cast Films Market by Application:
- Personal care
- Electrical and Electronics
- Food and beverages
Cast Films Market by Thickness:
- Up to 30 microns
- 30 to 50 microns
- 51 to 70 microns
- Above 70 microns
Cast Films Market by Region:
- North America
- Latin America
- Asia pacific
- Middle east & Africa