February 17, 2020
As per the report titled ‘Cast Polypropylene (CPP) Films Market Size By Product (General, Metallic, Retort), By Thickness (20-30 Microns, 31-50 Microns, Above 50 Microns), By Application (Food & Beverages, Agriculture, Stationary, Textile, Medical & Pharmaceutical, Architecture) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, Saudi Arabia, South Africa, UAE), Price Trends, Competitive Market Share & Forecast, 2019 - 2025’ available with Market Study Report LLC, the global cast polypropylene (CPP) films market is projected to exceed USD 1.77 billion by the year 2025.
Rapid expansion of flexible packaging industry across the globe is driving the growth of cast polypropylene (CPP) films market. Furthermore, changing lifestyle and consumption patterns is boosting the growth of food packaging industry, which in turn stimulating the demand for CPP films.
Cast polypropylene films have high barrier properties and ensure product safety along with increased product shelf life. These factors coupled with booming population and rising disposable income in emerging economies will boost the growth of cast polypropylene films market during the forecast period. However, emergence of alternatives and lack of innovation in the industry may hamper the market growth in the coming years.
Based on the product type, general cast polypropylene films market segment held the majority share in 2018 and is expected to follow similar trend during the forecast period. The growth can be attribute to beneficial product properties such as high transparency, tear resistance, and thermal isolation. On the other hand, metallic CPP films segment is anticipated to grow with a CAGR of 6% during 2019-2025, due to increasing product demand from the food packaging and agriculture sectors.
In terms of thickness, 20-30 micron segment accounted for majority share of cast polypropylene films market in 2018 and is expected to exhibit a strong CAGR over the predicted timeframe. Increasing product demand across food packaging and food & beverage industries, along with comparatively lower product cost is driving the segment growth.
Speaking of the application scope, stationary segment is anticipated to grow with a CAGR of 5% during the analysis period, on account of increasing population, rising literacy, and high educational expenditures. Whereas, cast propylene films market from food & beverages segment is expected to register a 6.1% CAGR through 2025. CPP films are extensively used in the food & beverages industry due to its favorable properties including tear resistance, thermal isolation, and moisture barrier.
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Considering the geographical outlook, cast polypropylene films market in North America was worth USD 250 million in 2018 and will foresee a CAGR of 3% during 2019-2025. Steady growth of food packaging industry in conjunction with rise in agricultural exports is increasing the product demand in the region.
Major players of cast polypropylene films market include Manuli Stretch, Profol, Panverta, Polibak, Tri-Pack Films, Mitsui Chemicals, Jindal Poly Films, Polyplex, Copol, Poligal, Plastchim-T, 3B Films, and Uflex.
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