Global plastic films and sheets market is expected to witness growth on account of increasing application scope of packaging in food & beverage, pharmaceutical, and personal care industries. Emergence of flexible packaging as an alternative to rigid packaging is expected to contribute to market growth. Plastic films and sheets are also used in agriculture, personal care and construction industries. Growth of aforementioned industries in emerging markets including China and India is expected to fuel plastic films and sheets demand in the near future.
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European Commission and EPA have framed numerous regulations aimed at promoting biopolymers industry to restrict green house emissions (GHG). As a result, positive regulatory inclination towards biopolymers industry is anticipated to open new market growth avenues. Technological advancement in hydraulic fracturing has played an important role in increasing the availability of unconventional sources such as shale gas and tight oil. Rising availability of unconventional sources is anticipated to decrease crude oil prices and likely to benefit market players over the forecast period.
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Global market for plastic films and sheets is highly fragmented on account of presence of large number of market players. Key market participants include DuPont Teijin Films, SABIC, Tredegar, Sigma Plastics, Polyplex Ltd, AEP Industries, Berry Plastic Corporation, Inteplast Group and Jindal Poly Films. In January 2015, SABIC and South Korea’s Hanwha Chemical Corp., formed a joint venture, and established a new manufacturing plant for ethylene-vinyl acetate films in Saudi Arabia. The plant meant for the production of ethylene-vinyl acetate films for solar applications, has a planned annual capacity of 4,000 metric tons.
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