Global PE Films Market Report and Forecast 2024-2032

Global PE Films Market Outlook

The global PE films market reached a volume of almost 62.34 million metric tons in the year 2023. The PE films industry is further expected to grow at a CAGR of 3.80% between 2024 and 2032 to reach a volume of almost 86.97 million metric tons by 2032.

The global PE films industry is being driven by the significant growth in the Asia Pacific market, which is expected to grow at the rate of 2-3% in the forecast period of 2024-2032. The Asia Pacific market is driven by the high end-use demand from the food and beverage sector. The region has excellent potential for suppliers of PE films as the supply base is relatively fragmented in the region. The major suppliers in the region are extending their capacity to cater to the increasing demand. The PE films market is also being driven by the rising end-user demand from the fast-moving consumer goods (FMCG) sector, particularly from the packaged food industry.

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The global PE films market is going through several transformations in the form of advancements and innovations. Down gauged films, also known as thinner gauged films, are becoming popular in the market due to the cost-effectiveness of the product. There has also been a shift from environment harming products such as petroleum-based resin to more sustainable products such as nature-friendly products, like paper-based formats, starch, and biodegradable film options, and many more. The manufacturers are focusing on the customization of the product, based on film types and printing colours, among others, thus, aiding the growth of the PE films market further.

Properties and Applications

PE films, an acronym for polyethylene film, is a substrate, which is used in the production of grocery bags and food packaging. In addition, the PE film is usually thermoformed and manufactured into medical packaging, plastic bottles, and other packaging applications.

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On the basis of end-use, the PE films industry is segmented into:

• Food and Beverages
• Pharmaceuticals
• Consumer goods
• Industrial
• Others

The food and beverage sector accounts for 58% of the demand for PE films from the total end-use segment. It is followed by consumer goods, pharmaceuticals, and industrial sectors.

The report also covers the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

The global PE films market is being driven by the rise in the usage of stretch and shrink films. These films are extensively used in packaging and non-packaging applications owing to its physical properties, like stress, tear strength, and durability, among others, thus, aiding the market growth. The demand for food, beverages, and consumer goods products in the developing regions have increased, resulting from the growing urbanisation and inflating disposable income of the middle-class population, which is propelling the demand for PE films in these regions. The manufacturing machineries and production processes in the industry are stimulated with technological innovations, as a consequence of dynamic consumer preference, giving PE films an edge over other competing packaging counterparts, thus, providing an impetus to the market growth of PE films.

The market for PE films will be dominated by the Asia Pacific, due to the demand from the end-use industries such as packaged food and beverage packaging applications, invigorating the market growth for PE films. In the next five years, cost containment and sustainability will be the focal points in the product development in the industry. In this segment, the key focus of product development of major manufacturers will be the usage of biodegradable and sustainable films, among others. The PE films market is being driven by its technical properties like its light weight and ease of fabrication.

The packaging industry is focusing more on sustainability, as the demand increases from the developed regions such as North America and Europe. Rising pollution has led the countries in developing regions such as the Asia Pacific, particularly China and India, to look for a sustainable packaging solution. This has resulted in growing green practices due to anticipated new regulations associated with environmental sustainability to lower the carbon footprint.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global PE films market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Amcor plc
• Proampac Holdings Inc.
• Coveris Management GmbH
• Berry Global Inc.
• Klöckner Pentaplast Group
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model, along with giving a SWOT analysis.

Key Highlights of the Report