Flexible Thin Film Market - An overview
The conventional rigid packaging formats are substituted by innovative flexible packaging alternatives to suffice consumer needs. Flexible thin film is gaining traction in the market as it offers the most efficient flexible packaging solution.
The flexible thin film is produced from plastic and has vital weight benefits that assure advantages in terms of raw material inputs and shipping facilities. The burgeoning demand for flexible thin films due to its durability, flexibility, and light-weight characteristics is frequently supplanting rigid packaging.
Due to excellent barrier features of flexible thin films that prevent moisture, oxygen, corrosion and its cost-effectiveness is boosting the demand for the flexible thin film in the market.
The flexible thin films are transparent with a high product-to-package ratio, takes lesser shelf-space, generate relatively less waste thus, flexible thin film packaging allows the shipping of more products given less of the packaging material is needed. Besides, it reduces fuel consumption and the overall transportation cost.
The shift towards flexible packaging by using the flexible thin film is attributable to benefit for the entire packaging value chain including brand owners, retailers, and, most importantly, consumers.
Flexible Thin Film Market - Market dynamics
Due to the pandemic spread of the novel Coronavirus, the packaging industry is experiencing downfall because of the lack of workforces and challenges related to raw material procurement.
Therefore, the flexible thin film market is also going sluggish currently. But due to the excellent characteristic feature of the flexible thin film, the huge demand for transporting the pharmaceuticals, food & beverages, etc in these difficult times can flourish the growth of flexible thin film market.
The flexible thin films are manufactured from plastic such as Polypropylene, Polyethylene, PET, BOPET, and PVC. The Polyethylene is majorly used because of its excellent flexibility and high moisture barrier properties for food and beverages packaging.
Polypropylene offers fat-resistant flexible thin films with high chemical resistance so, typically used in medical packaging. On the other hand, BOPET is a strong, clear and lightweight flexible thin film that is widely used for packaging materials for personal care, home care and other consumer and industrial products.
E-commerce is transforming the way customers shop. Customers can get anything delivered within a day or two at their doorstep. This is encouraging strong growth for protective packaging solutions, including a flexible thin film market. Although, sustainability outlasts in the brain of customers and so is making the flexible thin film producers to come up with innovative solutions.
Nevertheless, the customers of today are also more concerned about the environment and asking for sustainable packaging. Therefore, the manufacturers are in continuous research for using environmental materials for making flexible thin films. A current reinforcement of “food grade flavor molecules” combined to polymer structure has emerged in the development of a flexible thin film that releases aromas on the inside or outside of a package.
Flexible Thin Film Market - Regional Outlook
The Asia Pacific region accounts to have a larger market of the flexible thin film, owing to the rapid growth of food and beverages industries. Also, the increasing trade will further fuel the regional demand of products in whole world.
The North America region also holds a sizable market because of the high demand for pharmaceuticals coupled with chemicals. The Europe and Middle East & Africa has a strong market for the flexible thin film as there is a rapid growth of e-commerce industry in the region. Also, markets in these regions are becoming saturated so, companies in these regions are expanding globally.
Other regions such as the Latin America and the Oceania also have strong potential of growth opportunity for the flexible thin film market.
Flexible Thin Film Market - Competitors
The different competitors in the flexible thin film market are as follows-
- Alcan Packaging Beneq
- 3M Company
- Toppan Printing Co. Ltd
- Uflex Ltd
- Cosmo Films
- Honeywell International Inc
- Centre For Process Innovation (CPI)
- Jindal Polyfilms
- Fraunhofer POLO Alliance
- Sigma Technologies Int'l, LLC
Flexible Thin Film Market segmentation
- Polyvinyl chloride (PVC)
- Polypropylene (PP)
- Polyethylene (PE)
- Polyethylene terephthalate (PET)
- Biaxially-oriented polyethylene terephthalate (BOPET)
- Consumer Goods
- Electrical and Electronics
- Other End Use