The global market for plastic films will reach approximately $250bn (€236bn) by 2024, according to market research group Ceresana.
A new report by the Germany-based company covers plastic film used in packaging, such as bags and sacks, and other applications in agriculture, construction and technical applications.
The appeal of films in packaging comes from various new technologies, including digital printing which offers new possibilities for the design of packaging, said Ceresana.
Microwaveable packaging is a growing segment as well as stand-up pouches or individual packaging that offer a better dosing and durability. The market for green packaging is growing particularly rapidly, said Ceresana, which forecasts demand for bioplastics for packaging to increase by more than 15% per year in Europe alone. Films made of recycled plastics will increase as well.
More conventional materials remain in demand as well, it added. For example, its analysts expect 4% average annual for global demand for polypropylene films.