Wilmington, Delaware, United States, June 02, 2022 (GLOBE NEWSWIRE) -- Analysts at TMR project the cast films market to clip a CAGR of 4.4% for the forecast period from 2022 to 2026. Changing lifestyle leading to incessantly rising demand for packaged food is fuelling the growth of cast films market. The increasing demand for see-through packaging with superior barrier properties makes food & beverage leading end-use industry for the cast films market.
Cast films provide longer shelf-life, brand visibility, and attractive packaging to serve millennials, and thus find major application for flexible packaging solution in the food and pharmaceutical industry.
Cast films are flexible packaging and exhibit different properties when blended with different polymer materials. Cast films are used in monolayer and multilayer structures with the latter exhibiting significantly high barrier properties when compared to single-layer films.
The U.S. holds more than 90% share of North America cast films market and is anticipated to emerge as fastest growing market for cast films in the upcoming years. Increasing use of multilayer cast packaging in the food sector accounts for leading share of U.S. in the cast films market of the region.
Practices of combining cast films with polymers such as EVOH and PVDC thereby extending barrier film applications of the former influences demand and sales forecasts of cast films in the U.S. Besides this, role of manufacturers to provide modified atmospheric packaging and other active and smart packaging solutions for improved efficiency and allows participants to exercise control on product quality across the value chain.
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Cast Films Market – Key Findings of the Report
- Role of manufacturers to undertake R&D and incorporate cast films flexible packaging with lightweight, durability, and flexibility is leading to rapid shift of food and pharmaceutical industry to flexible packaging formats.
- Polypropylene is anticipated to witness the leading demand for the manufacture of cast films and hold a revenue share of US$ 7.7 Bn by 2026.
- Properties of polypropylene for increased shelf-life, product safety, and high barrier properties makes it the preferred material in the manufacture of cast films. Characteristics of polypropylene cast packaging films of high transparency, printability, heat sustainability, high impact strength, and high barrier properties make them preferred over other cast films.
- Cast films of 30- 50 micron thickness is likely to remain the leading segment owing to its growing use in wrapping films and other laminating applications.
- Asia Pacific holds nearly 50% share of cast films market, and is anticipated to maintain its dominant position through the forecast period. China is the leading consumer and producer of cast films in the region. Expanding production capacity of key players and presence of several small-scale unorganized manufacturers strengthens growth of cast films market in Asia Pacific.
- Europe accounts for nearly one-fourth share of the global cast films market, asserts TMR market study on cast films market.
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Cast Films Market – Growth Drivers
- Demand for cast films for its distinguishing moisture barrier properties to extend shelf-life of packaged food to serve changing modern lifestyle fuels the growth of cast films market
- Flexible packaging characteristic of cast films to combine barrier coatings of polymers to extend their applications strengthens demand for cast films
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Cast Films Market – Key Players
Some of the key players operating in the cast films market are;
- Uflex Ltd.
- Berry Global Inc.
- Winpak Ltd.
- Amcor Plc.
- Clondalkin Group Holdings BV
- Polyple Corporation Ltd.
- POLIFILM GmbH
- Oben Holding Group S.A.C
- Flair Flexible Packaging Corporation
- Taghleef Industries LLC
- Jindal Poly Films Limited
- Scientex Berhad
- Intertape Polymer Group Inc.
- RKW Hyplast Nv
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The cast films market is segmented as follows;
Cast Films Market by Material
- Polyethylene
- LDPE
- LLDPE
- Polypropylene
- Polyamide
- Others
Cast Films Market by Thickness
- Up to 30 Micron
- 30-50 Micron
- 50-70 Micron
- Above 70 Micron
Cast Films Market by Packaging Format
- Pouches
- Bags
- Laminates
- Wraps
- Labels
Cast Films Market by Layer Type
- Multilayer
- Monolayer
Cast Films Market by End-use Industry
- Food & Beverages
- Personal Care
- Electrical & Electronics
- Pharmaceuticals
- Industrial
- Others
Cast Films Market by Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- Spain
- U.K.
- BENELUX
- Russia
- Poland
- Rest of Europe
- Asia Pacific
- China
- India
- ASEAN
- Australia & New Zealand
- Japan
- Rest of APAC
- Middle East & Africa
- GCC Countries
- Northern Africa
- South Africa
- Rest of Middle East & Africa
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