The polyolefin film market is growing due to an increasing demand for polyolefin film in the packaging industry. Recent packaging trends show that consumers prefer lightweight packaging over heavier-weight packaging and flexible over rigid packaging with polyolefin film appears to be the most suitable choice for these changing trends. The major growth drivers for this market are the increasing demand for packaged food in emerging nations and growth in the oriented film market.
The polyolefin film market is divided into several segments, such as HDPE, LDPE, LLDPE, BOPP, and CPP. Key players in the polyolefin film market include Jindal Poly Films, Mitsui Chemicals Tohcello, Toray, Berry Plastics, Toyobo, and Amcor Flexible. These have been working on different strategies to drive sales using highly influential marketing approaches; however, as we examine the challenges and opportunities ahead in this market, companies can benefit from a strategy of developing bio-based polyolefin film and polyolefin shrink film, along with the key target market trends we have identified.
Lucintel predicts that the global polyolefin film market will be valued at $112.6 billion by 2025, with an expected CAGR of approx. 4.0% between 2020 and 2025. Lucintel identifies five trends set to influence the global polyolefin film market. Most of the industry players and experts agree that these five trends will accelerate developments in the polyolefin film industry in the near future. In terms of the widespread knowledge about the polyolefin film market already on the horizon, there is still a lack of unified perspective on the direction the industry is moving to proactively address developments. To help bring more clarity to this gap, our study aims to provide insights concerning the direction that changes are taking and how these changes will impact the polyolefin film market.
1. Development of Bio-Based Polyolefin Films
Bio-based polyolefin films are polymers made from biological sources. Bio-based polyolefin films comprise non-petroleum sourced monomers and agro-industrial by-products. Demand for these films is rising due to stringent regulations regarding the use of synthetic polymers, coupled with increasing environmental concerns. These films are environmentally friendly, and are widely utilized in flexible packaging and personal care product applications.
2. Polyolefin Shrink Film
Polyolefin shrink film is an extremely durable, versatile, translucent film or polymer plastic sheet that has become the preferred choice for packaging both edible and non-edible goods. It was given the name ‘shrink film’ because plastic shrinks tightly around the object it is covering when heat is applied. As POF shrink film easily bends at low temperatures, it does not deform, bend, or collapse thin, fragile, or delicate products. This quality also offers excellent protection for irregularly shaped items. In the past, PVC film was widely used for shrink wrapping, but it is slowly being replaced by POF shrink film. Polyolefin shrink film is now the most sought-after type of shrink film in the packaging industry. It is mostly used for packaging less-rigid items such as foodstuffs, stationery, cards, electronic items etc.
3. Development of Polyolefin Films with Nanoclays
Nanoclays feature a characteristic platelet form, a flaky soft structure, low specific gravity, and a high aspect ratio with nanoscale thickness. Different types of nanoclays are incorporated into polymers to improve their characteristics. Nano materials are applied in developing new packaging materials with improved properties over packaging produced with micromaterials. Such developments include the production of packaging with enhanced barrier properties, which, when applied within the food industry, will extend the shelf life of a food product, thereby expanding its marketing potential.
4. Growth of Oriented Film
The demand for oriented film is growing because the flexible packaging options used for food today are film-based. Oriented film is one to be the best alternatives to cellophane, waxed paper, and aluminum foil. The orientation increases tensile strength and stiffness while improving optical properties and vapor barrier properties. This film type has a wide range of applications in the packaging industry for cigarettes, candy, snacks, and packaging of other food items. It can also be used for shrink wrap, tape liners, diapers, and sterile wrap used in medical applications.
5. Increasing Demand for Flexible Packaging
There is continuous growth in the demand for flexible films. The reason behind the rise in the demand for flexible films is rooted in the concern for food safety and freshness. These flexible films are in high demand by the agricultural industry to keep food fresh. These films safeguard the quality and shelf life of a product. Flexible films also improve the energy efficiency and sustainability of production
Strategic Considerations for Key Players in the Polyolefin Film Market
The polyolefin film industry is dynamic and ever-changing. Successful industry players are masters of innovation, change, and adaptation. To retain this status, they need to be attentive to current trends. We believe there will be promising opportunities in the packaging, construction, and agriculture industries. As per Lucintel’s latest market research report (Source: https://www.lucintel.com/polyolefin-film-market.aspx), the polyolefin film market is expected to grow with a CAGR of approx. 4.0% between 2020 and 2025, and reach $112.6 billion by 2025. This market is primarily driven by the increasing demand for packaged food in emerging nations and growth in the oriented film market.
Whether you are new to the polyolefin film market or an experienced player, it is important to understand the trends that impact the development process, as these trends as listed above will lead players to create long-term strategy formulation that will allow them to remain competitive and successful in the long run. For example, to capture growth, some of the strategic considerations for players in the polyolefin film market are as follows:
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Polyolefin film market players can increase their capabilities to develop bio-based polyolefin films made from agro-industrial by-products.
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Players can focus on polyolefin shrink film, which is expected to lead future trends.
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Investment to increase competencies in the development of polyolefin films with nanoclays for food packaging with improved barrier properties
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Research and development activities to develop low-cost polyolefin film with excellent protection properties.
Note: In order to gain better understanding, and learn more about the scope, benefits, and companies researched, as well as other details in the polyolefin film market report from Lucintel, click on https://www.lucintel.com/polyolefin-film-market.aspx. This comprehensive report provides you in-depth analysis on market trends and forecast, segment analysis, regional analysis, competitive benchmarking and company profiling of key players. In addition, we also offer strategic growth consulting to meet your customized needs. We have worked with many PE firms and corporate customers in the process of their market entry and M & A initiatives.Enable GingerCannot connect to Ginger Check your internet connection
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