Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
The demand for polypropylene packaging films was estimated at USD ~23 billion in 2019. It is projected to witness a CAGR of 5.6% during the forecast period (2020-2028)
Growing inclination towards flexible packaging solutions coupled with the rising food and beverage sector especially in developing regions are having a positive influence on the demand for polypropylene packaging films market. Polypropylene films offer a combination of benefits including recyclability, optical clarity, ease of conformance, lightweight and low costs among others. The rising environmental concerns globally and increasing awareness among people to use sustainable and recyclable packaging solutions are also contributing to the growth of the polypropylene market. Manufacturers are shifting to produce and are investing heavily to increase the production of polypropylene packaging films to meet the growing demand from various end-use industries. Additionally, the flexible packaging industry is growing rapidly as it increases shelf life and food safety among others of which polypropylene packaging films are a segment.
Polypropylene packaging films are one of the key components for sustainable packaging solutions. Consumers’ penchant towards sustainable, and recyclable solutions along with the strength and durability of polypropylene packaging films are proliferating the demand of the market.
By Product, CPP Packaging Films is expected to witness the highest growth in the Polypropylene Packaging Films Market across the globe. It is expected to hold XX% of the total market.
On the basis of product type, the polypropylene packaging films market is further classified into BOPP and CPP. BOPP films segment leads the polypropylene films market and accounted for a market share of more than 60% globally in 2018. This is due to its moisture-resistant abilities and barrier properties along with increasing research and development activities for BOPP material. Thus bolstering the demand for global polypropylene packaging films market.
In contrast, CPP segment is anticipated to observe the highest growth during the forecast period. This segment is expected to gain traction as these films are being widely used for packaging and lamination owing to its high elasticity, moisture-proof propertoes, machine suitability and heat sealability among others.
By End-Use, food & beverage segment is anticipated to dominate the polypropylene packaging films market
On the basis of application, the global polypropylene packaging films market is bifurcated into food & beverages, personal care & cosmetics, electric & electronics, industrial, pharmaceutical & medical, tobacco, and others. The food & beverage segment accounted for the largest market share and held XX% of the market. This might be associated with the inertness, high chemical resistance, low manufacturing costs and low odor properties approved by the FDA.
Additionally, the pharmaceutical & medical segment also holds a major share of the polypropylene packaging films market owing to the properties such as high heat resistance, tear resistance, moisture-proof, and high puncture & tear resistance among others.
Asia Pacific region to lead the overall polypropylene packaging films market in terms of revenue share.
Asia Pacific region dominates the global polypropylene packaging films market and represents US$ XX Bn in terms of market share and is expected to expand with a CAGR of XX% during the forecast period. This can be attributed to the profound growth of the regional industrial ecosystem such as pharmaceutical & medical, and food & beverage among others. The booming tobacco sector in South Asia region is also having a significant impact on the growth of the market. Additionally, the rising urbanization, changing lifestyle of the consumers such as on-the-go food, and preference for sustainable products in the region are further bolstering the market growth in the region.
On the contrary, Asia Pacific region is followed by Europe. The European region accounted for a share of more than 20% of the global market. This can be associated with the increasing regulatory norms in the region to develop sustainable packaging solutions and growing consumer awareness regarding environmental health among others.
The prominent players in the polypropylene packaging films packaging market include Toray Plastics, Inc. (America), Vacmet India Ltd., Cosmo Films Ltd., Irplast S.p.A, Polinas Plastik Sanayi ve Ticaret AS, Oben Holding Group S.A.C., Profol Kunststoffe GmbH, Taghleef Industries L.L.C., LC Packaging International BV, Thai Film Industries Public Company Ltd., Rowad National Plastic Co., Ltd., Schur Flexibles Holding GesmbH, Jindal Poly Films Ltd., Uflex Ltd., Polyplex Corporation Ltd., Copol International Ltd., Schur Flexibles Holding GesmbH, Dunmore Corporation, Filmax, Inteplast Group Ltd., Poligal S.A.
Segmentation of Global Polypropylene Packaging Films Market:
Polypropylene Packaging Films Market by Product Type:
Polypropylene Packaging Films Market by Film Format:
- Clear Films
- Coated Films
- Matte Films
- White Films
- Metallized Films
Polypropylene Packaging Films Market by Thickness:
- Up to 18 micron
- 18 to 50 micron
- 51 to 80 micron
- Above 80 micron
Polypropylene Packaging Films Market by Application:
- Bags & Pouches
Polypropylene Packaging Films Market by End-use:
- Food & Beverages
- Personal Care & Cosmetics
- Electric & Electronics
- Pharmaceuticals & Medical
Polypropylene Packaging Films Market by Region:
- North America
- Latin America
- Middle East & Africa