Portland, OR, June 15, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the polyethylene film market generated $82.6 billion in 2020 and is expected to reach $128.2 billion by 2030, growing at a CAGR of 4.5% from 2021 to 2030. The report provides an in-depth analysis of major investment pockets, of the most winning strategies, drivers and opportunities, market size and estimations, competitive scenario and hesitating market trends.
A significant increase in the application of polyethylene films in various industries such as construction, food and beverage, and others and the remarkable properties of polyethylene films such as lightweight, flexible and glossy finish, strength to moisture are expected to drive the growth of the global polyethylene film market. Additionally, the extensive use of multi-layer polyethylene films in agricultural sectors for crop protection in harsh climatic conditions complements the growth of the market. On the other hand, wide application of paper packaging films over polyethylene films due to environmental regulations and constraints is expected to hamper the growth to some extent. However, the increase in the use of PE films as vapor barriers, window films, countertop protection and roofing solutions is expected to create huge opportunities for the industry.
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- COVID-19 outbreak has negatively impacted the growth of the global Polyethylene Films market, owing to the occurrence of lockdowns in various countries across the globe. The shutdowns have resulted in the closure of various industries such as food and beverage, construction, transportation, packaging, automotive and others, which in turn has led to a drop in demand for films in polyethylene.
- This was mainly due to the strict social distancing restrictions imposed by the government in order to curb the spread of the virus during the pandemic.
- However, the market should recover quickly.
The report offers detailed segmentation of the global Polyethylene Films based on type, technology, material, application, and region.
Based on type, the stretch film segment held the largest market share in 2020, attracting nearly three quarters of the global market. Also, the same segment is expected to quote the fastest CAGR of 4.6% during the forecast period. The remaining segment analyzed in the report includes shrink films and others.
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Based on material type, the LLDPE segment held the majority market share in 2020, holding almost half of the global market. The HDPE segment, on the other hand, is expected to show the fastest CAGR of 4.9% during the forecast period.
Based on regions, the Asia-Pacific region held the lion’s share in 2020, grabbing almost half of the global market. Also, the same segment should cite the Fastest CAGR 5.0% over the forecast period. Other regions analyzed in the market include Europe, North America and LAMEA.
Key players analyzed in the Global Polyethylene Films Market report are Amcor Ltd., Berry Global Inc., Constantia Flexibles Group GmbH, Klockner Pentaplast Group, Printpack Inc. RKW Group, Inteplast Group, Sealed Air Corporation, Sumitomo Bakelite Co. ., ltd. , and Toray Industries Inc.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.