Global Cast Films Market – Industry Trends and Forecast to 2029

Market Analysis and Size

The packaging industry is becoming an essential part of end-use industries. Rising demand for see-through packaging solutions is increase the demand for high-performance barrier materials, such as cast films. The requirement for high-quality cast films is growing due to the regulation of governing bodies and environmental organizations for packaging industry, which has improved the importance of optical properties and quality of the raw materials of cast films.

Rising environmental concerns and increasing water pollution caused by plastics around the world, the United Nations Environment Program (UNEP) launched a global campaign to promote awareness about the disadvantages of using micro-plastics and discourage their excessive usage.. Cast films are environmentally benign, degradable, and recyclable, making them better than plastic bags. 

Data Bridge Market Research analyses that the cast films market was valued at USD 7741.81 million in 2021 and is expected to reach USD 10163.01 million by 2029, registering a CAGR of 3.46 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.     

Market Definition

Cast films are a type of packaging film produced with the extrusion of polymers then melted in a cast for the formulation of this thin film sheet. This hot thin film sheet is then pinned in to a cooled roll with the help of air or a vacuum box. Along this process, cooled this thin film. This process is highly efficient as compared to blown process of film production.

Report Scope and Market Segmentation

Cast Films Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rising demand for cast films in multilayer pouches

Consumers are progressively moving in to smaller serving sizes, specially in case of food products or beverages, and the requirement for lightweight packaging is increasing. With large number of consumers voicing their demand for compact and convenience packaging in products, the applications of cast films in manufacturing packaging such as pouches are likely to surge in the upcoming years.

Furthermore, rising disposable income and urbanisation will boost market value growth. The market is being driven by consumers' constantly changing lifestyles and the rise of the retail sector. Growing consumer awareness of eco-friendly and biodegradable packaging materials, as well as rising demand for packaged and processed food products, are likely to drive market expansion.

Opportunities

• Rise in product innovations

Increase in number of product innovations will boost new market opportunities for the market's growth rate. Rising innovations in the market giving rise to various unique features such as anti-counterfeiting is expected to boost the growth of the market

Restraints/ Challenges

Rising prevalence of stringent regulations according to the usage of plastics across different regions and shift in consumer preferences, giving rise to greater demands for paper-based packaging solutions over non-biodegradable products, are expected to restrict the growth of the market.

This cast films market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cast films market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cast Films Market

The majority of industries have suffered in recent years. This is owing to major disruptions in their separate industrial and supply-chain operations caused by numerous precautionary lockdowns around the world. It is also applicable to the global cast film market. Furthermore, consumer demand has been reduced as people cut non-essential expenses from their budgets as the general economic condition of most people has been severely impacted by this outbreak. These factors are projected to weigh on the worldwide cast films market's revenue trajectory over the forecast period. However, when individual governing bodies begin to relax these imposed restrictions, the global cast films market is projected to revive over time.

Recent Development

In July 2019, Inteplast Group declared that their business division, “AmTopp Division” had boosted their manufacturing capacity by expanding cast film extrusion lines at their facility situated in the United States. This increament of capacity will add up to 60 million pounds of stretch film capacity. The new facility will be operational by the end of 2020 and will establish the company as a major player in packaging films.

Global Cast Films Market Scope

The cast films market is segmented on the basis of materials, thickness, packaging format, layer and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• Polyethylene
• Polypeptide
• Polyamide
• others

On the basis of material, the global cast films market is segmented into Polyethylene, Polypeptide, Polyamide and others polyethylene further divided into Low-density polyethylene and linear low-density polyethylene.

Thickness

• Up to 30 Microns
• 30-50 Microns
• 51-70 Microns
• Above 70 Microns

On the basis of thickness, the global cast films market is segmented into Up to 30 Microns, 30-50 Microns, 51-70 Microns, Above 70 Microns.

Packaging Format

• Pouches
• Bags
• Laminates
• Wraps
• Labels.

On the basis of packaging format, the global cast films market is segmented into Pouches, Bags, Laminates, Wraps, Labels.

Layer Structure

• Multilayer
• Monolayer

On the basis of layer structure, the global cast films market is segmented into multilayer and monolayer.

End-User

• Food and Beverages
• Personal Care
• Electricals and Electronics
• Pharmaceuticals
• Textile
• Industrial
• Others

On the basis of end-user, the global cast films market is segmented into Food and Beverages, Personal Care, Electricals and Electronics, Pharmaceuticals, Textile, Industrial, Others.

Cast Films Market Regional Analysis/Insights

The cast films market is analysed and market size insights and trends are provided by country, materials, thickness, packaging format, layer structure and end-user as referenced above.

The countries covered in the cast films market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

Asia-Pacific dominates the cast films market due to an increase in start-ups and small businesses seeking to expand their position in the global market for cast films. Though new entrants and developing firms do not compete with the front runners in the cast films landscape, they are expanding their production capabilities in Asia-Pacific to establish their presence in the cast films industry.

During the projected period, North America is expected to be the fastest developing region due to the rising demand of lightweight packaging products cast films in retail sector in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Cast Films Market Share Analysis

The cast films market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cast films market.

Some of the major players operating in the cast films market are:

• UFlex Limited (India)
• Jindal Poly Films (India)
• Berry Global Inc (US)
• Scientex Berhad (Malaysia)
• Intertape Polymer Group (Canada)
• Bemis Manufacturing Company (US)
• CLONDALKIN GROUP (Netherlands)
• Bischof + Klein SE & Co. KG (Germany)
• Polyplex (India)
• Inteplast Group (US)
• Profol GmbH (Germany)
• POLIFILM GROUP (Germany)
• Copol International Ltd. (Canada)
• ObenGroup (U.S)
• Paragon Films (US)
• Manupackaging UK Ltd (U.K)
• FLAIR Flexible Packaging Corporation (US)
• TAGHLEEF INDUSTRIES GROUP (UAE)
• Alpha Marathon Film Extrusion Technologies Inc (Canada)
• Panverta Cakrakencana (Indonesia)

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