The report "Packaging Film Market - By Application (Food, Medical & Pharmaceutical, Consumer Product, Industrial, & Others) & Type (LDPE, LLDPE, HDPE, CPP, BOPP, Polyester, PVC, Polyamide, EVOH, Cellulose, PLA PVDC, PVOH & Others) - Global Trends & Forecast to 2018", defines and segments the global packaging film market with analysis and forecasting of the global revenue and consumption. The Packaging film market consumption will grow from an estimated 51.2 million MT in 2013 to 63.79 million MT by 2018, with a CAGR of 4.5% from 2013 to 2018.
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Key content of this market:
The global packaging film market is expected to register decent growth during the coming decade driven by middle class of China and India. With rapid urbanization and increasing disposable income, demand for packaged food and pharmaceutical products are rising in China, India and other emerging nations. Growth in such emerging nations is expected to impact the packaging films industry positively.
Polyethylene is the mostly used material for packaging film; however, in flexible packaging polypropylene is used as the preferred material for film formation. Specialty films such as water soluble and high barrier films are gaining importance in matured economies of North America and Europe..
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The global packaging film market was estimated at $89,299.3 million in 2012, and expected to grow at a CAGR of 5.8% from 2013 to 2018. Food packaging is the key application area for the packaging films and packaging film sales in food packaging market is expected to grow at 6.2% from 2012 to 2018.
The increasing demand for packaged food and pharmaceutical products in growing economies such as China, India, Turkey, Poland, Brazil, and Mexico is driving the global market for packaging film. Packaging film has been commercialized and used in packaging of food products, pharmaceutical and medical products, consumer products, industrial products, and others.
Ever increasing application in food and pharmaceutical packaging and untapped Asia-Pacific market is presenting good outlook for the global packaging film market. Even though polyethylene is used as a key material for packaging film production, polypropylene is slowly becoming the preferred choice for the manufacturers. Specifically, BOPP films market is growing at a significant rate during the recent years. Geographically, Asia-Pacific is expected to lead the market during the next five years.
Food packaging is the largest consumer of packaging film followed by pharmaceutical and medical packaging. However, pharmaceutical and medical packaging applications are expected to offer the highest growth during the next five years.
The global Packaging Film market is fragmented and regions such as North America and Europe are in matured stage. However, Asia-Pacific market shows huge potential to grow in this market. The rising disposable income of the middle-class in India and China is expected to drive the packaging film market in the coming decade.