High demand owing to polyethylene films, which enable production of films with good toughness suitable for food packaging as well as non-food applications.
PORTLAND, OREGON, UNITED STATES, October 15, 2020 /EINPresswire.com/ — According to the report published by Allied Market Research, the global Polyethylene Films Market garnered $73.50 billion in 2017 and is expected to reach $90.91 billion by 2022, registering a CAGR of 3.6% from 2017 to 2023.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. It includes a study of the market size and share, market dynamics, market classification, and its growth prospects over the coming years. The report also includes a discussion of the prominent players operating in this market. The information in the report is a result of an extensive primary and secondary research.
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The report discusses the drivers, restraints, and opportunities of the passive optical component market in detail. The elastic nature of polyethylene films which enable production of films with good toughness suitable for food packaging as well as non-food applications, innovations in food & beverages packaging, concerns over the rise of use of bioplastic materials, and increase in demand for hygienic and flexible food packaging materials drive the polyethylene films market growth.
Nonetheless, fluctuations in the cost of raw materials cost and stringent regulations imposed for the use of plastic restrict the market growth. On the other hand, rise in demand for polyethylene films as a substitute for glass and metal offer new opportunities for the growth of the market.
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The report presents a broad analysis of the market segmentation. It bifurcates the market into technology, material, type, application, and region. Based on technology, the market is divided into blown film extrusion, cast film extrusion, and others. The blown film extrusion segment captured the highest market share in 2017 and would dominate the market. It would also grow at the fastest CAGR of 3.9% during the forecast period, 2017 – 2023. The material segment is divided into HDPE, LDPE, and LLDPE.
The LLDPE segment gained the highest market share of 42% in 2017 and would dominate the market during the forecast period. The report divides the type segment into stretch films and shrink films. Based on application, the market is divided into beverage packaging, food packaging, agriculture films, construction films, household items, and others. Geographically, the market analysis covers North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific would attain the highest market share as well as grow at the fastest CAGR during the study period.
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The report also includes the competitive profiling of the leading players in global polyethylene films market to help players, investors, and new entrants make informed business decisions. They include AEP Industries, Amcor Ltd., Berry Plastics Corporation, Dupont Teijin Films, Exopac Holdings Corporation, Jindal Poly Films, Sealed Air Corporation, Hilex Poly Co LLC, Innovia Films Ltd., and Ampac Holdings.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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Source: EIN Presswire