Global Cast Polypropylene Film Market to exceed $1.8 billion by 2027
Published Date: August 10, 2021 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights Inc., the global Cast Polypropylene (CPP) Films Market size is estimated to surpass USD 1.8 billion by 2027 driven by the rapid adoption of low-cost and efficient packaging films.
CPP films offer transparency and good weather resistance property, which is commonly used in the packaging industry. In addition, metalized CPP films are suitable for gas (N2) flush and other kinds of special packaging. The rising food processing & packaging industry is likely to boost the cast polypropylene films market in the coming years. Growing urbanization, changing consumer lifestyle, and increasing consumer spending in developing countries will influence the demand for food packaging products and eventually propel the industry across the globe.
The progressing textile manufacturing industry in Latin America and Asia Pacific will significantly contribute to the market from textile packaging application. Rapidly growing demand for stationery in developing countries of Asia Pacific and Africa, such as India, China, Indonesia, and South Africa, will add to the cast polypropylene films market in the coming future.
Healthcare investments and pharmaceutical production in Asia Pacific, Africa, and Latin America will attend considerable revenue generation over the next few years. Due to high-quality fertilizers, the scientific farming agricultural sector has experienced huge production in recent years, which will stimulate the demand for efficient plastic films for a more organized farm market.
Browse key industry insights spread across 300 pages with 391 market data tables & 28 figures & charts from the report, “Global Cast Polypropylene (CPP) Films Market By Product (General, Metallic, Retort), By Thickness (20 - 30 Microns, 31 - 50 Microns, Above 50 Microns), By Application (Food & Beverages, Agriculture, Stationery, Textile, Medical & Pharmaceutical, Architecture) Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
General CPP films will prove to be the fastest-growing product type by 2027
General CPP films held the largest market share in 2020 and are anticipated to grow at a considerable CAGR of 4.8% up to 2027. General CPP films are affordable due to their easy availability and low production cost compared to metalized, retort, and other kinds of CPP films. General CPP films are available in one side or both sides transparent type, which will further boost product share in the food and beverages industry.
31 - 50-micron CPP films will significantly foster the market share by 2027
The 31 - 50-micron segment exhibited significant demand in recent years and is projected to grow at a CAGR of 5% from 2021 to 2027. 31 - 50-micron thick cast polypropylene films are primarily used in the bakery industry. The bakery industry is witnessing a rising growth across the globe and is anticipated to drive the demand for 31 – 50-micron CPP films in the coming years. The rapid adoption of healthy & organic baked products and escalating demand for bread in developed countries will augment product demand. Fluctuating resource availability including sugar, emulsifiers, dried fruits, flour, starch, meat flavorings, additives, preservatives, and vitamins will boost the industry growth. Furthermore, the rising number of convenience stores, supermarkets, retailers, and foodservice providers will boost the cast polypropylene films market growth through the study period.
Stationery segment will significantly boost product demand
The stationery application registered a considerable market share in 2020 and generated around USD 138 million revenue. Increasing population across the globe coupled with a high literacy rate will fuel the stationery industry segment in the near future. Cast polypropylene films are majorly used for packaging, laminating, and other purposes in the stationery industry.
Europe to display positive growth throughout the study timeframe
Improving lifestyles and rising healthy or ready-to-eat meals in European countries will drive demand across the CPP films market. In FY2020 Europe accounted for around 16% market share in terms of revenue in the CPP films industry. Countries including Germany, the UK, France, and Italy have a mature food processing industry with a variety of processed food products, such as various kinds of cereals, snacks, meat, and ready-to eat-packages.
The Global cast polypropylene (CPP) films industry is extremely competitive due to the presence of domestic and international players including Uflex Limited, Manuli Stretch, Jindal Poly Films Limited, Mitsui Chemicals Tohcello, Inc., and Profol, among others.