Plastic Films & Sheets Market Size, Share, Opportunities, And Trends By Type (High-density Polyethylene (HDPE), Linear Low-Density Polyethylene (LLDPE), Low-density Polyethylene (LDPE), Medium-density Polyethylene (MDPE), Polyamide/Nylon, Polycarbonate (PC), Others), By End-User (Packaging, Agriculture, Automotive, Construction, Electronics, Healthcare, Others), And By Geography - Forecasts From 2024 To 2029

The plastic films & sheets market is projected to rise at a compound annual growth rate (CAGR) of 5.46% to reach a market valuation of US$160.928 billion by 2029, from US$110.888 billion in 2022.

The demand for the plastic films & sheets market is driven by several factors, such as the packaging industry, where the plastic films & sheets are used for protection, barrier properties, and lightweight options, India's export of pulses increased by 80.38% in nine months of the current fiscal in compared to the same months of the last fiscal as from US$ 242 million (April-December 2021-22) to US$ 436 million (April-December 2022-23).

The export of Basmati rice rose from US$ 2,379 million (April–December 2021) to US$ 3,337 million (April–December 2022). The packaging of these food materials requires Low-density polyethylene, for the light weight and moisture resistance. Moreover, with the rise of EVs, 2.3 million electric cars were sold in the first quarter of 2023, and the need for plastics will increase for design flexibility and cost efficiency. 

Plastic films and sheets play fundamental parts within the electronics industry by giving insulation, shielding components amid manufacturing, and serving as substrates for printed circuit sheets. Other businesses such as healthcare will moreover drive the market essentially as the requirement for disposable equipment rises. The plastic films and sheets industry is anticipated to rise at a significant growth rate. The demand for plastic sheets is increasing, especially in the agricultural division and for the construction of greenhouses utilizing plastic sheets.

Furthermore, the changing dietary habits of individuals, and rising inclination for processed foods are moreover adding fuel to the market of plastic films and sheets. The increasing globalization and urbanization, are also anticipated to boost the market, as plastic sheets are fundamental in various industries such as construction, and transportation, and for effective packaging of customer merchandise.

Market Drivers:

• The rise in sales of automobiles is anticipated to propel the plastic films & sheets market growth.

Plastic Films & Sheets are everywhere, including in the automobile sector. The plastic used in automobiles provides lightweight to the product and design flexibility, which gives it wider application in the automobile sector. Polypropylene finds its application to car bumpers and the car's interior flooring. Polyvinyl Chloride, can be used for used for dashboards and automotive body parts. Polycarbonate is lightweight, which reduces a car's overall weight and improves vehicle and fuel efficiency. The global sales of new cars sold, has increased since 2020 was, 70.71 million and in 2022 reached 72.86 million.

This growth has been propelled by the demand for EVs, with global sales for EVs in 2022 seeing exponential growth as sales exceeded 10 million. A total of 14% of cars sold in 2022 were EVs, up from around 9% in 2021 and less than 5% in 2020. China is one of the leading markets for the EV, as relative change was +4,760,000 from 2020 to 2022.

This demand for EVs is expected to continue in the coming decade, the need for lightweight materials will drive the market growth, as EVs have significant distinguished design features that will require the need for plastic in manufacturing.

Plastic films and sheets (PF) are an integral part of the automotive industry, having a broad variety of purposes that do not affect only a car's good looks, but also its functionality. PF materials are widely used in automobile interiors for upholstery, dashboard covers, and door paneling because of their durability, flexibility, and simplicity of customization. They contribute to the creation of an elegant design and are, at the same time, comfortable.

As per the International Energy Agency, in the transportation sector, there were over 26 million electric vehicles on the road in 2022, a 60% increase from 2021 and a five-fold increase over the number of vehicles in 2018. With 220 new bus and truck models hitting the market in 2022, there were an increasing number of electric vehicles available. On average, China is home to over 80% of all purchases of heavy-duty vehicles, and these, alongside most other projects, are initiated there. Additionally, sales of this sector in Europe and North America more than quadrupled in 2022 compared to 2021. Furthermore, as per the PIB, in India for the year 2022, there were 27,81,69,631 non-electric vehicles in operation and 13,34,385 electric vehicles.

Moreover, as per the estimates by the IEA, the number of worldwide electric car stocks reached 10 million in 2020, up 43% from 2019 and accounting for 1% of the market share, following a decade of explosive expansion. In 2020, two-thirds of newly registered electric cars were battery electric vehicles (BEVs), making up two-thirds of the stock. China leads the world in the number of electric vehicles (4.5 million), while Europe saw the biggest yearly gain in 2020, reaching 3.2 million.  

North America region is anticipated to hold the major market share.

Several factors are involved in the positive impact of the growth and sustainability of the United States plastic films and sheets market. One of the key drivers is rising demand from a variety of end-user sectors including packaging, automotive, construction, and agricultural. Within the packaging business, this demand for light and thinner materials that are set to be cheaper and are environmentally friendly is a market growth driving factor. Similarly, the automotive industry's requirement for durable and lightweight materials for internal and exterior uses drives the demand for plastic films and sheets in the nation.

For instance, according to the figures released by the Bureau of Transportation Statistics, motor vehicle production led the way, from 8,818 thousand in 2020 to 9,157 thousand in the period ahead in 2021. Additionally, the domestic sales were 11,571 thousand and 11,831 thousand in 2020 and 2021 respectively. This growth significantly impacts the overall market expansion.

Furthermore, technical improvements in film and sheet manufacturing techniques like extrusion and lamination improve product quality and performance, boosting the market growth. The increased emphasis on sustainability and recyclability encourages innovation in eco-friendly materials, allowing market players to satisfy changing customer preferences and regulatory needs. Overall, these forces lead to the strong growth of the US plastic films and sheets market.

Plastic film and sheet market companies in the United States use a variety of techniques to retain competitiveness and capitalize on emerging possibilities. They focus on product improvement, allocating a budget for research and development to generate new goods that meet the updated needs of the industry, which includes higher resistance and sustainability. In November 2023, Berry Global invented the Omni® Xtra film version for fresh food applications which is an uncharacteristic polyethylene high-performance film most of the time substituted by PVC types

Key Developments:

September 2022- SABIC, a global chemical industry leader, introduced SABIC® PP compound G3430X and SABIC PP compound G3440X grades, two new short-glass fiber-reinforced polypropylene (PP) compounds that provide improved performance and processing for demanding automotive under-hood, exterior, and interior applications. The two advanced grades outperform high-performing regular short-glass fiber materials in melt flow, tensile, and flexural strength.

February 2022- Coveris, a leading sustainable packaging firm, created a line of lightweight, next-generation stretch films with at least 30% recycled material to minimize reliance on virgin plastics and fulfill upcoming Plastic Packaging Tax standards.

Key Market Segmentation:

The Plastic Films - Sheets Market is segmented and analyzed as below:

• By Type
  • High-density polyethylene (HDPE)
  • Linear Low-Density Polyethylene (LLDPE)
  • Low-density polyethylene (LDPE)
  • Medium-density polyethylene (MDPE)
  • Polyamide/Nylon
  • Polycarbonate (PC)
  • Others
• By End-User
  • Packaging
  • Agriculture
  • Automotive
  • Construction
  • Electronic
  • Healthcare
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Others