Cast Polypropylene Film Market To Grow With Over 6% CAGR During Forecast Period
Global Cast Polypropylene
Film Market is driven by surging demand for fine packaging material in the
forecast period, 2023-2027.
According to TechSci Research
report, “Cast Polypropylene Film Market
- Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027” The global cast polypropylene
film market may show a robust growth in the forecast years, 2023-2027 with over
6% CAGR. Market value of the global cast propylene film market was USD1.96
billion in the year 2021, and the further growth of the market can be attributed
to the factors like increasing demands for safe packaging materials. Rising
applications and growing demands from the end use industries like food &
beverage, cosmetics, healthcare, pharmaceuticals etc. would further drive the
growth of the global cast polypropylene film market in the upcoming
five years. Rapidly advancing technology and growing research prospects in
advancing the packaging material also support market growth. The demands for
safe and hygienic packaging material are increasing. Concerns toward
degradation of environment due to toxins and chemicals that are
non-biodegradable incorporated in otherwise plastics & polymers further
supports the growth of the global cast polypropylene film market in the next
five years.
Chemically infused plastics
when discarded, adds to the bio-accumulations, and affects marine life at
large. The environmentalists, and concerned population is demanding the
packaging films and plastics with recyclability, and easier degradation, thus
aiding market growth. CPP films have high temperature resistance, impact
resistance, along with the longer shelf life thus prolonging shelf life of the
product enclosed and are thus much preferred thereby driving the market growth
in the future five years.
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The global cast polypropylene
film market segmentation is based on thickness, type, packaging type, end use
industry, regional distribution, and competitive landscape. Based on thickness,
the market is further segmented into up to 18 micron, 18-50 micron, 50-80
micron, and above 80 micron. 18-50 micron thickness of the CPP film is
anticipated to hold the largest revenue shares of the market and dominate the
market segment in the upcoming five years on grounds of its wider usage in the
major end-use industry of the market i.e., food & beverages industry.
Advantage of longer shelf life for the enclosed product adds to the higher
demand from the food & beverage industry and thus supports the market
growth.
By type, the market is
fragmented into transparent, white heat sealable, metallized heat sealable, and
others. Metallized heat sealable CPP films may register the significant growth
on the backbone of high seal strength and good moisture barrier properties of
the material. Moreover, metallic films have various advantages like it creates
barrier for gas & moisture thus giving long shelf life, high strength of
the material and feasibility for the product would also support the market
growth. Based on packaging type, the market is sub-segmented into bags and
pouches, wraps, lamination, labels, and others. By end use industry, the market
is bifurcated into food and beverages, floral, textile, and healthcare.
Some of the market players,
dominating the global cast polypropylene film market are
·
Polyplex
Corporation Ltd
·
American
Profol Inc
·
Uflex
Ltd
·
Polinas
·
Jindal
Poly films Limited
·
Copol
International Ltd
·
PT.
Bhineka Tatamulya Industri
·
Mitsui
Chemicals
·
LC
Packaging International PV
·
Futamore
Chemical Co Ltd
·
Thai
Film Industries Public Company Ltd
·
Oben
Holding Group S.A.C
·
Taghleef
Industries LLC
·
Schur
Flexible Grou
·
Cosmo
Films Ltd
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“Asia Pacific region may
dominate the regional market segments and hold the largest revenue shares of
the market in the upcoming five years on account of expansions of the end use
industries. The surging demands for food & beverage packaging escalated due
to rising disposable income of the population and their tendencies to spend
lavishly over safe and hygienic packaged food & ready to eat meals further
aids the market in the region. Rising population of the countries like China
& India further adds to the growth of the market in the region. Moreover,
the dominance of the region is also relied on technological advancement in the
material productions. Furthermore, growing investment in the product
advancement, growing uses of the products made of cast polypropylene films
along with the rapidly increasing market players in the region actively
expanding their businesses in the region also aid to the growth of the global
cast polypropylene film market in the future five years. New market players may
invest in the product advancement and innovative product development along with
increasing the awareness among the population for the advantage of the CPP
films that would in turn support the brand establishment for the new market
entrants,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Cast Polypropylene Film Market
- Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027 Segmented By Thickness
(Up to 18 Micron, 18-50 Micron, 50-80 Micron, Above 80 Micron), By Type
(Transparent, White Heat Sealable, Metallized Heat Sealable, Others), By Packaging
Type (Bags and Pouches, Wraps, Lamination, Labels, Others), By End Use Industry
(Food and Beverages, Floral, Textile, Healthcare), By Region”, has evaluated the future
growth potential of global cast polypropylene film and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global cast polypropylene film market.
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