(EMAILWIRE.COM, November 22, 2021 ) The report "Polyfilm Market by Resin Type (LLDPE, LDPE, HDPE, BoPP, CPP, PVC, BoPET, BoPA), End-use Industry (Agriculture, Packaging, Building & Construction, Consumer Goods, Medical) and Region - Global Forecast to 2026", The global polyfilm market is projected to reach USD 167.57 Billion by 2026, at a CAGR of 4.0% from 2016 to 2026.

Packaging is expected to be the fastest-growing end-use industry segment of the polyfilm market

Packaging is expected to be the fastest-growing end-use industry segment during the forecast period. The rigid packaging subsegment of the packing segment is expected to witness high growth. The PET segment is expected to lead the market, as PET is light in weight and reduces cost as well as environmental impact during transport. The demand for flexible packaging is expected to increase in food & beverage, tobacco, beauty & personal care, and tissue & hygiene in the coming years.

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Linear Low Density Polyethylene (LLDPE) is the largest segment of the polyfilm market, segmented based on resin type

LLDPE is the largest segment of the polyfilm market, due the desirable properties of LLDPE when used individually or when mixed with other resin types. LLDPE is majorly used in flexible packaging, especially in food and textiles industries, in the form of extruded monolayer or in composites with PVDC, EVA, and other polyolefins as per application. For waste bags, stretch and shrink films LLDPE is coextruded with Low Density Polyethylene (LDPE) and Ethyl Vinyl Acetate (EVA). LLDPE replaces LDPE in films and finds increasing use in large retail unit packaging markets.

Asia-Pacific is the fastest-growing market for polyfilm, followed by Middle East & Africa. India and China have a major role to play, in terms of polyfilm demand. Indonesia, South Korea, Vietnam, and Philippines are also expected to witness high demand for polyfilms in coming years.

Demand from packaging and agriculture end-use industry is the major driver of the polyfilm market

Rising population, improving food-packaging techniques, technological advancements in agriculture through the use of greenhouse films are the key factors expected to fuel the growth of the polyfilm market. Advancements in crop cultivation and increasing government subsidies in emerging countries has led to increasing usage of greenhouse films. The packaging industry There is a high demand for BoPET and BoPP-based films from the packaging industry, owing to the properties of these resins, including durability, light weight, inertness, and moisture or air resistance.

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Key market players in the polyfilm market

The key players in the polyfilm market are Jindal Polyfilm (India), Formosa Plastics Corporation (Taiwan), Chiripal Polyfilm (India), Cosmo Films (India), Polyplex Corporation (India), Uflex Limited (India), Taghleef Industries (U.A.E), Vacmet India Pvt Limited (India), Garware Polyester (India), Max Speciality Films (India), and SRF Limited (India).