The poly film, referred to as Polythene film, is used in apparel, medicines, Fabrics, and sewn goods to protect goods from dust, dirt, and moisture during shipment. Polythene film comes in the form of sheets and has a wide range of thickness that allows wrapping any material to protect the goods. Polythene film variety depends on the density of the sheet. The Poly film is a form of thermoplastic that melted to form the film and ultimately developed into rolls by roll slitting, and they are eco-friendly. Thus, it can be used in the packaging of food.
The polythene sheet depends on the price of petrol as it is a sub-product of petroleum. Additionally, the Polythene film sheet is a versatile product and used in every aspect of life. PE film has moisture resistance and low moisture permeability. Polyethylene film (PE) can produce products with different properties such as low density, medium density, high-density polyethylene, and cross-linked polyethylene according to different manufacturing methods and control methods.
The global Poly film market expected to witness the growth at a substantial CAGR in the forecast period 2020-2027. Poly films are derived compounds of polymers and ethylene, majorly used in the plastic industry. Poly films market has shown significant growth owing to its properties, such as a rigid, inflammable, fireproof, transparent, and opaque product. The properties of poly films divided into mechanical, compound, electrical, optical, and thermal.
Additionally, the poly film market plays a vital role in the growth of the packaged food industry. According to World Bank data, the world generated 242 million tons of plastic waste in 2016. It will continue to increase in coming until great plastic substitutes and have better properties than plastic bags. Thus, it increases the market share of the poly films market.
Moreover, the increase in global polyethylene film consumption will largely depend on economic growth as poly films used in many industries such as food and packaging, agriculture, medicines, consumers’ goods, and others. Furthermore, the poly film is used in different industries such as the food industry for keeping food hygienic and protection from microorganisms to grow. In the manufacturing sector, the poly film is used as a substitute for glass and metals sheets. Thus the market is expected to boom in the upcoming periods.
Another triggering factor is the growing use of polyethylene films like HDPE, in place of thermoplastics and emerging polymers such as metallocene catalysts, expected to drive the global poly film market in future periods.
The ongoing revolutionary developments and innovations in the production of flexible films to replace plastic with Polymer sheet boost the market growth. Innovation related to films, which possess high-barrier properties that make it suitable for the packaging of food items, drives the market. Further, changing technology will produce various products, and different grades of poly films will increase product consumption on the market. A million tons of plastic waste is generated around the globe every year is a considerable threat to human life as well as marine life. Therefore, the replacement of plastic with polymer sheets/bags will help in saving the environment.
Rich in quality and low-cost raw material will continue to create opportunities for export-oriented factories and affect the global polyethylene trade pattern. Rich low-cost poly films are thin polymer made up of plastic. It has various applications to use to protect any material, walls, equipment, or any other materials from dust, dirt, and moisture. Therefore, the affordability of poly films and its eco-friendly property will contribute to the growth of the Poly films market.
Based on Resin, the market is classified into LLDPE, LDPE, HDPE, BoPP, CPP, PVC, BoPET, and BoPA. LLDPE segment accounts for about 53% of the global market, among others, and the demand for low-density polymers mainly comes from film applications. LLDPE is currently the fastest-growing polyethylene sector, and its market share will increase by 2027. In the long-term forecast, compared with HDPE and LDPE, LLDPE is expected to continue to grow fastest. LLDPE’s increased market share is due to its higher strength properties, allowing for reduced measurement and other performance that helps save materials and reduce overall production costs.
Based on End-Users, the global Poly films market segmented into Agriculture, Packaging, Building & Construction, Consumer Goods, Medical, and Others. The agriculture segment is expected to gain demand in the forest period from 2020-2027. According to data generated by the World Bank, 311 million tons of plastic were used in 2014 in the agriculture sector, excluding the use of packaging. It is owing to the increasing environmental issues due to which plastic bags replaced with polymer sheets due to their durability and eco- friendly characteristics.
Based on geography, the global poly films market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia-Pacific region will lead to an increase in global high-density polyethylene capacity. Owing to the large poly film manufacturers in India, with increasing environmental concern, the durability of poly films is the driving force of the poly films market. Therefore, the demand for poly films will grow at a substantial rate in the forecast period 2020-2027.
Companies such as Chiripal Poly Films, Cosmo Films, Formosa Plastics Corporation, Garware Polyester Limited, Jindal Poly Films Limited, Max Speciality Films Limited (MSFL), Polyplex Corporation Limited, SRF Limited, Taghleef Industries, Treofan Group, Uflex Limited, Vacmet India Private Limited, Barflex Polyfilms Pvt Ltd, Premier Polyfilm Limited, Polifilm Group, Flex Film Ltd., Specialty Polyfilms Pvt. Ltd, AMERICAN POLYFILM INC, Garware Polyester Ltd., Polyplex, and others are the prominent players in the global poly films market.