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Plastic Films and Sheets Market Outlook 2023: Recent Developments and Business Insights

Market Overview

The Global Plastic Films and Sheets market is expected to attain a valuation of USD 142.4 billion in 2023 and is projected to achieve a CAGR of 6.0% from 2023 to 2032.

Plastic films and sheets refer to continuous polymeric materials with thickness under 0.25 inches produced through extrusion or calendaring, used across packaging, construction, automotive and other industries.

Market Trends
Shift toward multilayer and barrier plastic films to enhance packaging performance
Focus on developing recyclable and biodegradable plastics adhering to sustainability goals
Advancements in blown film extrusion and thermoforming efficiency driving cost competitiveness

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Market Leading Segmentation

By Material
• Linear Low-Density Polyethylene (LLDPE) / Low-Density Polyethylene (LDPE)
• High-Density Polyethylene (HDPE)
• Polyamide (PA)
• Polyvinyl Chloride (PVC)
• Biaxially Oriented Polypropylene Films (BOPP)
• Cast Polypropylene (CPP)
• Others

By Application

• Packaging
o Consumer Goods
o Medical
o Food
o Others
• Non-packaging
o Agriculture
o Healthcare
o Construction
o Others

Market Players

 SABIC
• Toyobo Co., Ltd.
• Berry Global
• Toray Industries, Inc.
• British Polythene Ltd.
• Dow
• DuPont
• Novolex
• Plastic Film Corporation of America
• Other Key Players

Factors Influencing Demand
Robust growth in food & beverage, pharmaceutical and personal care sectors necessitating safety
Rising construction activity and automotive production requiring weatherability
Growing e-commerce and demand for packaged goods boosting adoption
Challenges
Volatility in crude oil prices affecting plastic feedstock supply and pricing forecasts
Developing economies setup lacking capabilities for high-end plastic films
Complying with stringent regulatory norms regarding food contact and emissions

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Opportunities
Scope for plastic films usage expansion into medical device packaging and agriculture
Rising consumer disposable incomes in Asia and South America bolstering adoption
Capacity expansions for downstream integration by resin producers

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