Investment in Clear Plastic Sheeting Maker Integrated Packaging Films to Augment Growth of Plastic Packaging Market

The wide commercial success of plastic as a packaging material is largely due to the combination of lightness, strength, durability, impermeability, flexibility and ease of processing. The benefits of plastic packaging in industries like construction, chemical and food and beverage are numerous.

Plastic is extremely low-priced when compared with other forms of packaging. It also has a long life-time. This makes it an ideal product to use for packaging small items like fruits, vegetables, meats, dairy products, processed foods etc. Since it is so light, it is easy to package the items because the weight is dispersed evenly among the pieces. Thus, packaging does not require more of the raw materials to make the items look good.

Market Dynamics 
Investment in clear plastic sheeting maker integrated packaging films due to emergence of Covid-19 is expected to propel growth of the global plastic packaging market. For instance, in November 2020, The Ontario (Canada) provincial government announced to invest US$ 350,000 in clear plastic sheeting maker Integrated Packaging Films of Ayr, Ont., to help the firm with the production of an additional four million face shields per month for use during the second wave of COVID-19.

Moreover, significant growth in the fast moving consumer goods (FMCG) sector is also expected to aid in growth of the plastic packaging market. For instance, according to India Brand Equity Foundation, FMCG market in India is expected to grow at a CAGR of 27.86 per cent and is expected to reach US$ 103.70 billion by 2020 from US$ 52.75 billion in FY18.

Emergence of Covid-19 has prompted manufacturers to expand production facilities, thereby aiding in growth of the plastic packaging market. For instance, in April 2020, Klöckner Pentaplast, a provider of pharmaceutical packaging films in U.K., Germany, and the U.S., completed expansion at its Cotia facility in Brazil.

Emergence of Covid-19 has prompted manufacturers to expand production facilities, thereby aiding in growth of the plastic packaging market. For instance, in April 2020, Klöckner Pentaplast, a provider of pharmaceutical packaging films in U.K., Germany, and the U.S., completed expansion at its Cotia facility in Brazil.
Among regions, North America is expected to witness significant growth in the plastic packaging market, owing to increasing expenditure on personal care products. For instance, according to the U.S. Bureau of Labor Statistics, average annual expenditure on personal care products in the U.S. increased from US$ 707 in 2016 to US$ 768 in 2018.

Competitive Analysis 
Major players operating in the global plastic packaging market include, Amcor Ltd., Sealed Air Corporation, Bemis Company, Sonoco Products Company, Mondi Plc., Tray Pack Corporation, Lacerta Group Inc., Bemis Company Inc., Alwin Lehner GmbH & Co. Kg, RPC Group Plc among others.September 2020: Amcor Ltd. announced the world's first recyclable flexible retort pouch, which uses Amcor's AmLite HeatFlex Recyclable solution.


 

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