Global Polyethylene Film Market Extends at a Healthy CAGR of 4.6% by 2030

Introduction

Films made of polythene are created from polymers and ethylene and are primarily used in the plastics industry. Complex polymers create hard, inflammable, fireproof, translucent, and opaque polythene plastic. The polythene film market is crucial to expanding the packaged food sector.Food is preserved for extended periods using polythene film, which keeps the food hygienic and secure by guarding against bacteria.These elements are anticipated to fuel the demand for polythene films in the food and beverage industries. The e-commerce industries have also expanded significantly in recent years, propelling the global polyethylene film market.

Market Dynamics

Increased Adoption of Polyethylene Films in the Food & Beverages Sector Drive the Global Market

One of the most popular polymeric films used for packaging food and beverage is polythene film. It has several essential qualities, including lightweight, flexible, glossy surface, and moisture resistance, which makes it excellent for food packaging. It keeps food clean and safe by preserving food for extended periods by guarding against bacteria. Its lightweight properties also make packaged food and beverages easy to transport. Therefore, the expanding demand for polythene films in the food and beverage industries is expected to drive the market significantly.

Development of Eco-Friendly Polyethylene Films Create New Market Opportunities

The use of biodegradable polythene films is rising quickly in response to the accumulation of plastic waste in landfills and the environment. Numerous techniques enhance its degradability under particular oxygen, moisture, sunshine, and compost conditions. Additionally, polythene films' biodegradation is improved by boosting their hydrophilic qualities and lowering the hydrophobic polymer throughout their production process. Furthermore, an increase in eco-friendly polyethylene films in healthcare, pharmaceutical, cosmetics, and other sectors is anticipated to create lucrative opportunities for the market during the forecast period.

Regional Insights

Asia-Pacific is the largest region and is estimated to grow at a CAGR of 5.2% during the forecast period. The key market trend in Asia-Pacific is to use PE films for applications such as plastic reservoirs, crates for crop collection, and irrigation systems. Asia-Pacific exhibits the largest market share, owing to rapid globalization, changing food consumption trends, low per capita consumption, and rapid economic growth. Japan represents mature markets with high levels of per capita consumption. Polyethylene films are also used for various netting applications such as anti-hail, anti-bird, wind-breaking, shading, and nets for olive and nut picking. These factors are predicted to escalate the demand for polyethylene films in this region.

Europe is the second-largest region. It is estimated to reach USD 26,315 million by 2030, growing at a CAGR of 4.4%. The plastic industry is a key market trend in Europe, owing to factors such as trade balance, multiplier effect, industrial value-added, public finances, and recycling. For instance, according to a study conducted by the Association of Plastics Manufacturers in Europe and The European Association of Plastics Recycling and Recovery Organizations (EPRO) in 2018, the European plastic sector has a positive trade balance of USD 18.5 billion and contributed USD 35.3 billion to public finances & welfare. In addition, other factors such as the multiplier effect of 2.4 to GDP and around 9.4 million tons of plastic post-consumer waste were collected to be recycled in Europe, which is predicted to directly or indirectly escalate the demand for polyethylene film market in this region. 

The global polyethylene film market is analyzed across various parts of North America, such as the US, Canada, and Mexico. The polyethylene film business is a dynamic and innovative sector in North America, owing to resin grade development and product advancements. Polyethylene resin is widely used for making films in applications such as carrier bags, sandwich bags, freezer bags, and cling wrap. Another major factor contributing to the demand for PE film is its strength, durability, and ability to easily customize to different shapes, sizes, and visuals.

Key Highlights

• The global polyethylene film market was valued at USD 86.1 billion in 2021. It is projected to reach USD 130.2 billion by 2030, growing at a CAGR of 4.6% during the forecast period (2022–2030). 
• Based on technology, the global polyethylene film market is segmented into Blow Film Extrusion and Cast Film Extrusion. Cast Film Extrusion technology dominates the market and is anticipated to grow at a CAGR of 4.8% during the forecast period.
• Based on type, the global polyethylene film market is segmented into Stretch Films and Shrink Films. Stretch Films type dominates the global market and is estimated to grow at a CAGR of 4.7% during the forecast period.
• Based on material, the global polyethylene film market is segmented into Low-Density Polyethylene (LDPE), High-Density Polyethylene (HDPE), and Linear Low-Density Polyethylene (LLDPE).Linear Low-Density Polyethylene (LLDPE) is the largest segment and is estimated to grow at a CAGR of 4.5% during the forecast period.
• Based on application, the global polyethylene film market is segmented into Food & Beverage, Agriculture, Construction, Household, and Others. Food & Beverage is the largest segment and is estimated to grow at a CAGR of 5% during the forecast period.
• Based on regions, the global polyethylene film market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the largest region and is estimated to grow at a CAGR of 5.2% during the forecast period.

Competitive Players

Competitive Players

The key players in the global polyethylene film market include Amcor Ltd., Berry Global Inc., Constantia Flexibles Group GmbH, Klockner Pentaplast Group, Printpack Inc. RKW Group, Saudi Basic Industries Corporation (SABIC), Sealed Air Corporation, Sumitomo Bakelite Co., Ltd., and Toray Industries Inc.

Recent Developments

Market News

• In June 2022, Constantia Flexibles and Plasthill Technical Films, a Dutch Oerlemans Packaging Group company, partnered to bring Constantia Flexibles' proprietary technology, CompresSeal, to the market in Europe.
• In June 2022, For the fifth time in a row, Constantia Flexibles received a Gold certification in the EcoVadis company sustainability rating. While the performance in the environment component climbed to 80 points, the overall score increased to 73. The packaging manufacturer continues to rank in the top 2% of all businesses for sustainability accomplishments over the previous year.

Segmentation

Global Polyethylene Films Market: Segmentation

By Technology

• Blown Film Extrusion
• Cast Film Extrusion 

By Type

• Stretch Films
• Shrink Films

By Material

• Low-Density Polyethylene (LDPE)
• High-Density Polyethylene (HDPE)
• Linear Low-Density Polyethylene (LLDPE)

By Application

• Food & Beverage
• Agriculture
• Construction
• Household
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA