Key 4 trends fueling cast polypropylene films market forecast

6:43 AM, 9th February 2021
Global cast polypropylene (CPP) films manufacturers are keen on new product launches, and acquisitions for industrial expansion along with withstanding market competition.

Constant expansion of the flexible packaging sector will influence the development of cast polypropylene (CPP) films in the coming years. Flexible Packaging Association (FPA) and the US Census Bureau revealed that the US flexible packaging industry was valued at USD $31 billion in 2017, with increased revenues expected through 2025.

Global CPP manufacturers are keen on new product launches, and acquisitions for industrial expansion along with withstanding market competition. For instance, Coveris, a European supplier of flexible packaging solutions, in early 2020 launched Coveris Print Layer (PP CPL), a sustainable and high-performance CPP film. The product is designed to assist in flexible packaging of varied food, pet food and non-food components.

Few of the other leading material providers include Mitsui Chemicals, Profol, Manuli Stretch, Poligal, Uflex, Polyplex, Plastchim-T, Polibak, Panverta, Tri-Pack Films, 3B Films, and Jindal Poly Films, and Copol. Estimates suggest that global cast polypropylene films market size could surpass an annual evaluation of USD $1.77 billion by 2025.

Increased adoption of metallic CPP films

General CPP films registered maximum share across the product segment in 2018. The growth can be attributed to consistent demand, high transparency, excellent heat seal strength, and tear resistance of the materials. Revenues from the metallic CPP films are projected to strike a growth rate of 6 percent up to 2025 owing to its rapid development and augmented adoption across the food packaging and agricultural industries. Prevailing demand for metallic CPP could significantly add value to the overall cast polypropylene films industry share.

Higher demand due to cost benefits

Based on thickness, 20-30-micron thick cast polypropylene films witnessed a higher demand in 2018 and can look forward to a steady growth over the next few years. 20-30-micron CPP films are mainly employed across food packaging as well as beverage applications, contributing to more than half of the global cast polypropylene films market share in 2018. Lower product costs in comparison to other options is another factor driving the production of the film constituents.

Stationary applications to gain traction

CPP films market share form stationaries amassed significant traction and is believed to achieve a CAGR of over 5 percent through 2025, owing to an expanding population, besides a growth in literacy and educational expenditures. Cast polypropylene films offer properties like good tear resistance, heat seal ability, and moisture barrier, which will increase the material consumption.

Food sector across North America

Regionally, the North America CPP films industry exceeded USD $250 million in yearly estimates in 2018. Developments in the food packaging industry and rising agricultural exports are likely to expand the demand for the material, with a projection of over 3 percent CAGR up to 2025 across the region, albeit the COVID-19 pandemic. However, growing risks of product replacement as well as the dearth of innovation in films production may negatively impede the product demand to a certain extent.

There is a significant growth in the food packaging sector due to changing lifestyles and eating habits worldwide, suggesting the higher consumption of CPP films. Cast polypropylene films provide stable and elongated product life spans, high barrier properties as well as product safety parameters. Higher disposable incomes along with a prominent rise in population across the emerging economies will bolster the adoption of the material.

Get detailed analysis on the Cast Polypropylene Market:

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Arun Hegde

Corporate Sales, USA

Global Market Insights Inc.

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