Cast Polypropylene Packaging Films Market – Snapshot
The polypropylene film manufactured by using cast polypropylene offers outstanding transparency and external gloss. Cast polypropylene is an extraordinary material used in packaging of various products from bread to snacks and fresh produce. It is also used as a sealant film for retort and non-retort purposes. It has excellent heat sealing properties. Cast polypropylene is a low-density film with excellent tear resistance as well as impact resistance.
Key factors driving the demand for cast polypropylene packaging films across the globe are rising consumption of convenience food, high demand for packaging solutions that enhance shelf life, and growing preference for cost-effective films with a high moisture barrier. The cast polypropylene packaging films market in Asia Pacific and Middle East & Africa was promising in the past. This was attributable to rapid urbanization, growing population, and increasing disposable income of middle-class families in these regions. The outlook for the market in Asia Pacific appears promising for the forecast period also. In 2017, Polyplex Corporation Limited expanded its packaging films business in Indonesia to cater to the rising demand in the country. Other global players are also planning to expand in Asia Pacific during the forecast period.
Rapidly increasing demand from the food & beverages industry and rising usage of bags and pouches in end-use industries are key drivers of the cast polypropylene market. Rise in the consumption of convenience food and high demand for packaging solutions that enhance shelf life are anticipated to propel the demand for cast polypropylene packaging films in the near future. Growth of textile and health care industries in developing economies is anticipated to drive the demand for cast polypropylene packaging films during the forecast period.
High preference for alternative packaging materials and fluctuating prices of resins is the key restraint of the cast polypropylene packaging films market. Increasing use of substitutes such as aluminum, PET, and BOPP products in food and packaging industries is likely to hamper the market during the forecast period. High demand for sustainable packaging from end-use industries presents key growth opportunities to the cast polypropylene packaging films market.
More Trending Reports by TMR:
The cast polypropylene packaging films market has been segmented based on thickness, packaging type, and end-use. In terms of thickness, the market can be classified into up to 18 micron, 18–50 micron, 50–80 micron, and above 80 micron. Up to 18 micron was the dominant segment, accounting for over 40% of the market share in 2017. In terms of packaging type, the cast polypropylene packaging films market has been divided into bags & pouches, laminations, wraps, labels and others. Bags & pouches was the dominant segment, accounting for about 30% of the market share in 2017. Bags and pouches are widely employed in the packaging of beverages, snacks, and various other food products. Growth of this segment is directly linked to output of the food & beverages industry. The wraps segment is expected to witness significant growth in the near future, due to increase in the demand for ready-to-eat and bakery products. Suppliers of wraps, laminations, and bags and pouches made of CPP packaging films have augmented their manufacturing capacities and developed new products in response to dynamic market conditions. For example, American Profol, Inc. has developed two new pouch technologies under its CPPouch segment. It has also won ‘German Packaging Award’ in the category of ‘Sustainability’ for its CPPouch technology.
REQUEST FOR COVID19 IMPACT ANALYSIS:
Demand for cast polypropylene packaging films is largely driven by rise in the output of the food & beverages industry. Growth of the food & beverages sector, particularly in Asia Pacific, is driving the demand for cast polypropylene packaging films. The floral segment is also witnessing significant growth. Also, the health care segment is anticipated to present lucrative growth opportunity to the market in the near future.
In terms of region, the global cast polypropylene packaging films market has been segregated into six regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, and Middle East & Africa. Asia Pacific witnessed the maximum demand for cast polypropylene packaging films in 2017. The region accounted for over 33% share of the global market in 2017. This is attributable to growth of food & beverages and textile sectors, changing lifestyle, and shifting of production facilities by major players to Asia Pacific due to low labor and operating costs in the region. The market for cast polypropylene packaging films in countries of Europe such as Germany, U.K., Italy, France, and the Netherlands was fragmented. However, stringent food regulations associated with raw materials used for packaging films can act as a restraint of the market in the next few years. The market in North America is expected to witness moderate growth during the forecast period. High demand in the U.S., being the leading market for CPP packaging films, is estimated to drive the cast polypropylene packaging films market in North America in the near future.
Key players profiled in the report on the global cast polypropylene packaging films market are Polyplex Corporation Limited, American Profol, Inc., Uflex Ltd., Polinas, Jindal Poly Films Limited, Copol International Ltd., PT. Bhineka Tatamulya Industri, Mitsui Chemicals America, Inc., LC Packaging International BV, Futamora Chemical Co. Ltd., Thai Film Industries Public Company Limited, Oben Holding Group S.A.C., Taghleef Industries LLC., and Schur Flexibles Holding GesmbH.