The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Cast Polypropylene Films Market.
It was estimated prior to this unanticipated outbreak that the Cast Polypropylene Films Market was expected to grow at a CAGR of 6.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Organic growth in various end-use industries of the market, especially in food & beverages industry coupled with its increasing applications in those industries is likely create healthy demand for the CPP films during the forecast period.
Cast polypropylene films are mainly used for packaging products. They are produced from a combination of various grades of PP polymer. They are available in various forms viz. metastable, twist wrap lamination and others for multiple applications.
Cast polypropylene films are significantly gaining popularity in the packaging industry owing to their various benefits, such as excellent heat seal strength, good thermal stability, good puncture resistance, high clarity and gloss, fair barrier properties, and low density.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the product type, the market is segmented as general, metallic, retort, and others. The general cast polypropylene films are expected to maintain their supremacy in the market over the next five years, mainly driven by increasing demand for heat resistant packaging, and higher clarity of general CPP films when compared with the other products.
Based on the thickness type, the cast polypropylene films market is segmented as 20-30 microns, 31-50 microns, and above 50 microns. The 20-30 microns segment is projected to remain the dominant thickness type in the market during the forecast period, owing to its wider usage in the major end-use industry of the market i.e., food & beverages industry.
In terms of regions, Asia-Pacific is likely to maintain its dominance and is estimated to be the fastest-growing region of the market during the forecast period. The region’s dominance in various end-use industries, such as food & beverages, textile, and pharmaceuticals, and among the key market for all the other end-use industries is the major factor behind the dominance of the region in the market.
Some of the major cast polypropylene film manufacturers are-