Forecast sees plastic films staying in high demand

Dec 21, 2023

Germany-based market research institute Ceresana says its updated study of the global market for flexible plastic films shows the market growing, despite more and more countries "trying to take action against plastic waste."

Within the European Union, disposable plastic carrier bags thinner than 0.05 millimeters (mms) are banned, Ceresana says, however, "some supermarket chains are now simply issuing slightly thicker bags, for example with wall thicknesses of .053 or .055 mms."

Even in the more closely regulated EU market, Ceresana says thinner plastic bags will continue to be allowed in the self-service section of grocery stores for loose fruits, vegetables and other perishable foods.

Considering both policy discouragement and market demand, Ceresana analysts say they expect average global growth of 3.9 percent per year for thicker biaxially oriented polyester (BOPET) films of 0.05 mm or more through 2023. Those films typically are used for packaging electronic goods or stationery.

Ceresana says the overall revenue generated in the flexible plastic films market—which also includes biaxially oriented plastics polypropylene (BOPP) and biaxially oriented polyethylene (BOPE) films—to increase to around $339 billion by 2032.

"The trend toward online retailing and hygienic individual packaging continues even after the end of the COVID-19 pandemic," the research firm says. "This not only increases the demand for secondary and transport packaging such as shrink and stretch films but also for adhesive tapes, most of which are also made from plastic films."

The report refers to "zero waste shops" that spurn plastic as having become niche retailers in nations with developed economies, and Ceresana says such shops were hit hard by COVID-19. In the rest of the world, meanwhile, "the trend toward plastic packaging continues unabated. Stand-up pouches and microwavable packaging, in particular, are on the rise, as are individual packages that offer better dispensability and shelf life," the firm says.

Agricultural applications provide one sector where bioplastic film is poised to make inroads, according to the report. Films made from starch, polylactic acid (PLA) or other biopolymers that can be composted on-site are gaining favor in the agricultural and horticultural sectors since they reduce disposal costs.

The Ceresana report also includes profiles of nearly 100 global plastic film manufacturers, including Amcor Ltd., Berry Plastics Corp. DuPont, ExxonMobil Chemical, Oben Holding Group, RKW SE, Saudi Basic Industries Corp. (SABIC), Sealed Air Corp. and Dow.