Global Specialty Plastic Films Market 2019-2023 | 6% CAGR Projection Through 2023 | Technavio
LONDON--(BUSINESS WIRE)--Feb 25, 2020--
The global specialty plastic films market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Specialty Plastic Films Market 2019-2023 (Graphic: Business Wire)
Consumers are increasingly choosing packed, ready-to-eat, and microwaveable products. Hence, F&B companies are increasingly adopting specialty plastic packaging films to extend the shelf life of their products. These films are widely preferred owing to properties such as heat resistance, humidity resistance, puncture resistance, and chemical resistance. They are also lightweight and have high tensile strength, which offers durability and significantly reduces the overall weight of the packaging. These factors are crucial in driving the growth of the global specialty plastic films market during the forecast period.
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As per Technavio, the increasing adoption of bioplastics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Specialty Plastic Films Market: Increasing Adoption of Bioplastics
Growing concerns over the harmful effects caused by plastics on the environment have increased the focus toward the adoption of biopolymer-based plastics. These plastics are produced from biomass and comprise of materials such as corn, wheat, and sugarcane. Their demand is increasing rapidly in many industrial and consumer applications, particularly in the packaging industry. Thus, the increasing adoption of bioplastics is expected to have a positive impact on the growth of the global specialty plastic films market during the forecast period.
“Increasing focus toward recycling to reduce plastic waste and the rising adoption of barrier films will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Specialty Plastic Films Market: Segmentation Analysis
This market report segments the global specialty plastic films market by end-user (packaging, personal care, electrical and electronics, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the rapid growth of end-user industries such as food and beverage and personal care.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Technavio Research
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PUB: 02/25/2020 12:00 PM/DISC: 02/25/2020 12:01 PM