Polyfilm Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Polyfilm Market Analysis:

Polyfilm, also known as polyethylene film, is a thin plastic material made from a polymer. Polyfilms are made up of various resins, such as HDPE, LLDPE, BOPET, and others, where each have unique properties such as environment-friendly films with long shelf life. Polyfilms are eco-friendly and can be securely used for food wrapping. Poly films and polysheets are used to protect goods from moisture, dust, and dirt during shipment. In addition, polyfilm foams are used in medical equipment, consumer goods, building & construction, agriculture, packaging, and plastic bags. Polyfilms are further used in cover equipment, walls, lumber, machinery, beauty & personal care, and tissue & hygiene industries

COVID-19 scenario analysis: 

• The COVID-19 pandemic is expected to adversely impact the market with change in customers’ preference toward essential.
• The demand for personal hygiene and homecare products is expected to rise due to the growing consciousness among consumers during the COVID-19 pandemic. It has made consumers more aware of the need to maintain hygiene at a personal level as well as at home to reduce the chances of infection. This is expected to increase the demand for personal care products.
• Most of the packaging companies who were on the verge of shutting down before the outbreak of COVID-19  are now back in the market as the demand in this sector has increased drastically.
• The medical devices industry has impacted negatively as countries import consumables, disposables, and capital equipment, including orthopedic implants, gloves, syringes, bandages, computed tomography, and magnetic resonance imaging devices from China. Moreover, medical device manufacturers across globe are finding it difficult to import raw materials and electronic components from China.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The main factor for increase in demand for polyfilm is the rise in popularity of e-commerce and home delivery systems. On the basis of resin type, the linear low density polyethylene (LLDPE) segment has wide applications in the market, owing to rise in demand for various applications in packaging, agriculture, food, and textiles industries. Moreover, the growing demand for flexible packaging in industries, such as food & beverages, boosts the ­­­polyfilm market. Polyfilm is used in food packaging to keep food fresh, prevent contamination, and provide a long-lasting shelf life. Germ-free packaging for drugs & pharmaceuticals provides sterility and prevents impurity.

In addition, increase in use of BoPET films, owing to unique properties, such as high tensile strength, chemical & dimensional stability, reflectivity, and electrical insulation, is expected to boost the market growth.

However, stringent rules and regulations to reduce the harmful effect to the environment hinder the growth of the polyfilm market. Furthermore, difficulty in recycling of polymeric material and decrease in demand for photographic & magnetic films restrain the growth of the market.

Surge in usage of polyfilm in industrial applications:

Based on region, the polyfilm market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia Pacific has the largest market share in terms of value and volume in the global polyfilm market, and is estimated to rise at a substantial rate, owing to rise in demand for bio-based polyfilms and scientific expansions in the agriculture sector. Moreover, increase in demand from various industries, such as food & beverages and textile, is also expected to drive the market growth in China, India, and Japan in the Asia-Pacific region. The demand for polyfilm for packaging in Asia-Pacific is the highest due to low cost, high thermal stability, mechanical flexibility, and easy availability of raw materials. The polyfilm market in Europe is expected to develop at a significant rate in terms of income in the global polyfilm market, followed by North America. Polyfilm is used in several end-use industries, including pharmaceutical & medical, consumer goods, building & construction, agriculture, packaging, plastic bags, and others.

Key benefits of the report:

• This study presents the analytical depiction of the polyfilm market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the polyfilm market share.
• The current market is quantitatively analyzed to highlight the polyfilm market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides detailed analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the polyfilm market research report:

• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Polyfilm Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights