Polyfilm is a thin plastic material which is composed of complex and simple materials comprising of various properties to serve multiple purposes. It is used in several applications including packaging, labels, building construction, plastic bags, electrical fabrication, and landscaping. It is used to prevent dirt, moisture, and dust. Polyfilms are further used for cover equipment, walls, lumber, machinery, and scaffolding.
At a compound annual growth rate of 4.15%, the size of the worldwide Increasing consumption of packaged products from multiple industries is driving the Polyfilm market is projected to reach USD 1.93 billion in 2028.
Polyfilms are made up of multiple resins which include BoPA, BOEPT, PVC, CPP, LLDPE, HDPE, and others to match application for various purposes. For instance, PVC films are used for packaging material as they are gas permeable. Further, LDPE films are used for food packaging as it could provide good gas barrier properties. The multiple application of the product along with its adaptability to blend with various resins to offer diverse properties is anticipated to stimulate the industry growth.
Rising demand for packaged food is driving the industry growth
Improving food-packaging techniques along with ongoing technological developments across agriculture structure through the greenhouse films have significantly contributed toward the growth of polyfilm industry. Rising government subsidies coupled with recent advancements across crop cultivation in developing economies have substantially up scaled the application of greenhouse films. Over the years, the industry has witnessed upsurge in the demand for BoPP and BoPET based owing to its rising application for food and other packaging. Furthermore, improved durability, packaging flexibility, light weight, moisture resistance and inertness are some of the key features offered by polyfilm, which in turn will stimulate the industry landscape in the coming years.
Multiple characteristics of LLDPE to escalate its industry share
The linear low density polyethylene (LLDPE), across the resin type accounted for leading share across the industry. Growing demand for multiple applications in agriculture, textiles packaging, and food & beverage industries is fuelling the product adoption. Improved transparency, better sealing properties, high mechanical strength, low production cost, blending flexibility with different resins are some of the prime factors potentially impacting the industry growth. Growing application of the product owing to its ability to easily blend with multiple resins to exhibit various properties is complementing the business outlook. Furthermore, rising research and development activities to enhance its useful life in line with improved strength will escalate the product demand in the coming years.
Asia-Pacific to dominate the regional share
The Asia Pacific region is analysed to hold significant share across the polyfilm market and is anticipated to witness grow at a substantial rate in the coming years. Growing presence of industry players across the region along with surging demand for bio-based polyfilms, and technological advancements in agriculture is driving the industry growth. The industry in China is expected to gain major share across the region on account of low manufacturing and labour cost. Ongoing upsurge across several end-use industries including textile, construction, consumer goods, and food & beverages will further contribute toward the product demand in the coming years.
Key Market Players
• Jindal Polyfilm
• Formosa Plastics Corporation
• Chiripal Polyfilm
• Cosmo Films
• Polyplex Corporation
• Uflex Limited
• Taghleef Industries
• Vacmet India Pvt Limited
• Garware Polyester
• Max Speciality Films
• SRF Limited
• Vacmet India Private Limited
• Barflex Polyfilms Pvt Ltd.
• Premier Polyfilm Limited
• Polifilm Group
• Flex Film Ltd.
• Specialty Polyfilms Pvt. Ltd.
• American Polyfilm, Inc.
Polyfilm Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1.93 billion|
|Growth Rate||CAGR of 4.15 % during 2021-2028|
|Segment Covered||By Resin Type, By Type, End-User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Chiripal Poly Films, Cosmo Films Ltd.,, Formosa Plastics Corporation, U.S.A., Garware Polyester Limited, Jindal Poly Films Limited, Max Speciality Films Limited (MSFL), Polyplex Corporation Limited, SRF Limited, Taghleef Industries, Treofan Group, Uflex Limited, Vacmet India Private Limited, Barflex Polyfilms Pvt Ltd., Premier Polyfilm Limited, Polifilm Group, Flex Film Ltd., Specialty Polyfilms Pvt. Ltd., AMERICAN POLYFILM, INC., Garware Polyester Ltd and|
Key Segment Of The Polyfilm Market
By Resin Type, 2021-2028 (USD Million)
• Polyethylene (PE)
• Polyethylene Tetraphlate (PET)
• Polypropylene (PP)
• Cast Polypropylene (CPP)
• Polyvinyl Chloride (PVC)
• Biaxially-Oriented Resins
Type, 2021-2028 (USD Million)
o Stretch Film
o Shrink Film
• Blow Molding
End-User, 2021-2028 (USD Million)
• Building & Construction
• Consumer Goods
Regional Overview, 2021-2028 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
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