APAC to remain the largest cast polypropylene films market by 2025
Publisher : Fractovia | Published Date : 2019-07-12Request Sample
Spurred by food packaging industry’s ongoing expansion across several prominent regions of the world, the global cast polypropylene films market is slated to experience a sizable growth spurt in coming years. Increasing importance for CPP films for flexible packaging applications owing to its affordability and effectiveness is likely to drive industry trends over the years ahead.
As of now, several CPP variations are available in the market boasting of characteristics such as high gloss and clarity, good resistance to puncture and tears, high moisture barrier, exceptional resistance to oil and grease, higher seal strength, good anchoring of adhesives and inks, high hot-tack strength, and excellent machinability on packaging lines.
U.S. cast polypropylene (CPP) films market size, by product, 2014 - 2025 (USD Million)
These characteristics make CPP films ideal for the global food packaging industry. Expansion of the food packaging industry will thus augment cast polypropylene (CPP) films market outlook over the forecast years.
From a regional perspective, the Asia Pacific is expected to emerge as a lucrative ground for CPP films market. Evolving dynamics of the packaging sector across a number of Asian countries like China and India is expected to drive the projected growth. Rapidly rising population, growing disposable income, and changing livelihood of the people would be some of the most prominent factors strengthening CPP market trends across Asia Pacific region over forthcoming years.
India is expected to emerge as a leading packaging industry growth facilitator in coming years. According to the Associated Chambers of Commerce and Industry of India (ASSOCHAM), India’s packaging sector would be reaching $72.6 billion valuation by 2020. Such a supportive business scenario in packaging industry across India will further impel cast polypropylene films industry share.
The packaging industry in India has been experiencing steady growth over the past few years and showcases immense potential for further expansion, particularly in terms of export. In fact, on average, the cost of processing & packaging food in India could be 40% cheaper than certain parts of Europe. This affordability factor coupled with a readily available skilled labor would ensure CPP films market size to accumulate remarkable revenue across APAC through packaging applications during the forecast timeframe.
The EU food & drinks industry is typically considered to be competitive on a global scale; producing safe, healthy and high-quality food and beverages. The European Commission is actively working towards enhancing the competitiveness of the regions food sector. The Commission is also striving to generate new trade opportunities for the industry through several trade negotiations.
In terms of jobs and value addition, food and drinks industry is one of the biggest manufacturing sectors in Europe. Over the last decade, the EU food & drink industry exports have doubled, reaching a valuation of €90 billion while contributing to a positive balance of approximately €30 billion. Considering the aforementioned fact, EU’s food and drinks industry is also expected to emerge as a prominent revenue source for cast polypropylene films market landscape during the forecast time period.
Another region that will help drive cast polypropylene films market trends is Latin America. As per estimates, Latin America CPP industry size will register a CAGR of 6% over the forecast period, primarily powered by the rising demand for food packaging. Additionally, the increasing standards of living among the middle class populace will also drive LATAM industry outlook in the years to come.
Overall, attributed to the prominent role it plays in the food packaging industry and the ongoing rapid expansion of the APAC and Europe packaging sector, CPP films are expected to be adopted on a large scale across developed as well as developing economies during the forecast timeframe. According to a research report by Global Market Insights, Inc., the overall cast polypropylene films market valuation is expected to surpass $1.77 billion by 2025.
