Printed Plastic Films Market expected to Develop at a CAGR of 4.02% through 2033, totaling US$ 7,412 million | Future Market Insights Inc.
Technological advancements drive growth in the recyclable films market, meeting eco-conscious demand.
NEWARK, Del:, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The global printed plastic films market is projected to reach a valuation of US$ 4,997.8 million in 2023, driven by the growth in printed plastic film insights*. *The driving trend continues to create new opportunities for the market, leading to an assumed CAGR of 4.02% between 2023 and 2033. The market will likely attain a total valuation of around US$ 7,412.4 million by 2033.Technological advancements are playing a pivotal role in advancing the development of recyclable films, equipping them with enhanced properties and sustainable end-of-life options. This technological progress is driving the rapid expansion of the market, primarily fueled by heightened consumer awareness and a burgeoning demand for eco-friendly alternatives. Various industries, including leading sectors, are embracing recyclable films as a sustainable packaging solution.
Collaborative efforts involving governments, industry associations, and recycling organizations are working toward establishing efficient recycling infrastructure and legislation. These initiatives are essential in fostering a productive recycling ecosystem for plastic films, contributing to a sustainable future.
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PET films, with applications spanning packaging, electronics, textiles, and printing industries, have emerged as a sustainable choice. Their ease of recyclability facilitates a closed-loop system that reduces the need for new materials and minimizes waste, aligning with the principles of a circular economy.
Printed plastic films offer a visually appealing aesthetic to products, attracting substantial interest from a diverse range of end users. This appeal plays a pivotal role in enhancing product desirability and brand recognition, driving their widespread adoption.
The increasing preference for flexible packaging solutions is a significant driver propelling the sales of printed plastic films across the global market. This preference is underpinned by the convenience, versatility, and sustainability offered by flexible packaging solutions.
The expansion of the food and beverage industry is poised to create lucrative growth opportunities for the printed plastic films market. As the industry continues to grow, the demand for innovative and eye-catching packaging solutions, such as printed plastic films, is expected to rise in tandem.
The development of the latest printing technologies also contributes to the growth of printed plastic films, enhancing their capabilities and appeal. These innovations empower manufacturers to produce high-quality, visually striking packaging that aligns with consumer expectations and market trends.
*Key Takeaways from the Market Study*
· The United States is slated to accumulate a 21% market share in 2023.
· Japan is anticipated to develop at a market share of 5.5% in 2023.
· Based on materials, polyethylene is likely to record a market share of 22.8% in 2023.
· Based on end-use, the food & beverage is expected to register a market share of 21.5% in 2023.
· The polypropylene random copolymers market insights rose at a 5.39% CAGR between 2018 and 2022.
· The market was valued at US$ 4,827.6 million in 2022.
“Surging demand for graphic packaging across the food and beverage industry will improve the adoption of printed plastic films. It is one of the key drivers of the printed plastic films market,” comments a Future Market Insights analyst.
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*Competitive Landscape*
The printed plastic films industry consists of a consequential number of market players. Research and development are one of them that is mainly used for the introduction of environment-friendly product lines from the core aspect of these manufacturers. Additionally, Key players further aim at following a few other expansion strategies, inclusive of collaborations, mergers and acquisitions, and exploration of regulatory approvals to reinforce their position in the market. Some of the new developments are given below.
· In March 2023, Glenroy® Inc., a leading converter and printer of sustainable flexible packaging, invested in state-of-the-art flexographic plate mounting and demounting technology, taking their high-quality standards to even greater heights.
· In August 2023, Glenroy® Inc., proudly announced a leadership transition as part of its strategic growth plan. The company has been diligently preparing for this next phase and marked a pivotal moment in Glenroy's journey.
*Key Companies Profiled*
· Amcor Plc
· Berry Global Group Inc.
· Huhtamäki Oyj
· Sonoco Products Company
· Sealed Air Corporation
· Mondi Group
· DS Smith Plc.
· Constantia Flexibles Group GmbH
· Winpak Ltd.
· Coveris Holdings S.A.
· Glenroy Inc.
· Schur Flexibles Group GmbH
· ProAmpac LLC
· Bischof & Klein GmbH & Co. KG
· Clondalkin Group Holdings B.V.
· Flair Flexible Packaging Corporation
· Interflex Group Inc.
· Uflex Ltd.
· Takigawa Corporation
· Bryce Corporation
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*Printed Plastic Films Market by Category*
*By Material*
· Polypropylene (PP)
· Polyethylene (PE)
· Biaxially Oriented Polyethylene Terephthalate (BOPET)
· Polyvinyl Chloride (PVC)
· Polyamide (PA)
· Bioplastics
· Other Plastics*By Printing Technology*
· Flexographic Printing
· Digital Printing
· Offset
· Gravure
*By End Use*
· Food & Beverages
· Healthcare
· Electronics
· Cosmetics & Personal Care
· Homecare
· Other End Uses
*By Region*
· North America
· Latin America
· Europe
· South Asia
· East Asia
· Middle East & Africa
· Oceania*More Valuable Insights Available*
Our analysts offer an unbiased analysis of the global printed plastic films market providing historical data from 2018 to 2022 and forecast statistics between 2023 and 2033.
To understand opportunities in the printed plastic films market is segmented based on material: (polypropylene (PP), polyethylene (PE), biaxially oriented polyethylene terephthalate (BOPET), polyvinyl chloride (PVC), polyamide (PA), bioplastics and other plastics), printing technology (flexographic printing, digital printing, offset and gravure) and end use (food & beverages, healthcare, electronics, cosmetics & personal care, homecare and other end use) across seven major regions (North America, Latin America, Eastern Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
*About the Author*
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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*About Future Market Insights (FMI)*
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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