The new report by Expert Market Research titled, ‘Global PE Films Market Size Report and Forecast 2023-2028’, gives an in-depth analysis of the global PE films market, assessing the market based on its segments like end-use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): 55.8 Million Metric Tons
- Forecast CAGR (2023-2028): 3.75%
- Forecast Market Size (2026): 69.6 Million Metric Tons
The increased use of stretch and shrink films is driving the global PE films industry. Due to physical properties such as stress, tear resistance, and durability, among others, these films are widely used in packaging and non-packaging applications, assisting market development.
The demand for food, beverages, and consumer goods products has increased in developing regions as a result of increased urbanisation and rising middle-class disposable income, which is driving demand for PE films in these regions. Furthermore, as a result of dynamic customer demand, the manufacturing machineries and production processes in the industry are being stimulated with technological advancements, thus giving PE films an advantage over competing packaging counterparts and thereby providing an impetus to the market growth of PE films.
Industry Definition and Major Segments
The most popular plastic in use today is polyethylene or polythene (abbreviated PE; IUPAC name polyethene or poly(methylene)). It’s a form of polymer that’s mainly used in packaging (plastic bags, plastic films, geomembranes, containers including bottles, etc.).
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On the basis of end-use, the industry is segmented into:
- Food and Beverages
- Pharmaceuticals
- Consumer goods
- Industrial
- Others
Regionally, the industry is classified into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Rising competition in the market aided the growth of the global industry. There has been a rise in business acquisitions to boost the profit. For example, Berry Global Group Inc., based in the United States, purchased RPC Group plc, based in the United Kingdom, in July 2019. This strategic move positions the company as one of the world’s leading plastic packaging companies and a global provider of value-added protective solutions.
Key Market Players
The major players in the market are Amcor plc, Proampac Holdings Inc., Coveris Management GmbH, Berry Global Inc., and Klöckner Pentaplast Group, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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