According to a comprehensive market analysis by Smithers in their report titled “The Future of Mono-Material Plastic Packaging Film through 2025,” here’s a distilled summary of critical insights:
- Market Size and Valuation in 2020: The global market for single-material flexible polymer packaging stood at 21.51 million tonnes, valued at $58.9 billion.
- Growth Projection for 2025: It is forecasted that by 2025, the market will grow to $70.9 billion, with consumption increasing to 26.03 million tonnes, at a CAGR of 3.8%.
- Recyclability: Unlike traditional multi-layer films that are challenging to recycle due to their composite structure, mono-material films, made from a single type of polymer, are entirely recyclable, enhancing their market appeal.
- Key Material Categories:
-Polyethylene (PE): Dominating the market in 2020, PE accounted for more than half of the global consumption and is expected to continue its strong performance.
-Polypropylene (PP): Various forms of PP, including BOPP, OPP, and cast PP, are set to surpass PE in demand.
-Polyvinyl Chloride (PVC): Demand for PVC is anticipated to decline as more sustainable alternatives gain favor.
-Regenerated Cellulose Fiber (RCF): Expected to experience only a marginal growth throughout the forecast period.
- Principal Sectors of Use: The primary sectors utilizing these materials in 2020 were fresh foods and snack foods, with the former projected to witness the fastest growth rate over the next five years.
- Technical Challenges and Research Priorities: Addressing the technical limitations of mono-materials in packaging specific products is crucial, with ongoing research and development being a high priority.
- Market Drivers: The study highlights significant legislative goals aimed at reducing single-use plastics, eco-friendly design initiatives, and broader socio-economic trends.
- Impact of COVID-19: The pandemic has significantly influenced both the plastic packaging sector and the broader industry landscape, necessitating adjustments in market strategies.
Smithers’ report serves as a vital resource, providing an extensive array of over 100 data tables and charts. This offers invaluable insights for businesses aiming to strategically navigate the evolving landscape of mono-material plastic packaging solutions, catering to evolving consumer preferences and entering new markets by 2025.
Post time: Apr-29-2024