The global Plastic Films market is projected to reach 73 million tons by 2018, driven by technology developments, and expanding application areas.
Plastic films, used for packaging of both food and non-food products apart from various other plastic products, is the largest sub-sector of the plastic processing industry. The industry over the years has been witnessing a clear rise in inter-plastic competition, particularly among high-density polyethylene (HDPE), low-density polyethylene (LDPE), and linear low-density polyethylene (LLDPE) categories. Oriented Polypropylene (OPP) films and nylon films are benefiting from new developments in both the clear and metallized sectors.
The plastic films market is influenced by prevailing economic conditions, health of credit markets, and consumer spending. In 2009, the global market witnessed a dip in revenues due to the global economic downturn, but recovered in the years 2010 and 2011. While demand continued to improve in 2011, the expected restoration of normalcy in the economic environment was disrupted by the escalation in the Eurozone debt crisis in early 2012. The year 2012 was marked by a volatile business environment, fluctuations in raw material prices and soft demand conditions in several end-use sectors.
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