The plastic liner market value is USD 4.8 billion in 2023. The market was valued at USD 4.6 billion in 2022. Sales of plastic liners are projected to grow at a CAGR of 4.1% from 2023 to 2033. The market is estimated to reach USD 7.1 billion by 2033.
Consumption and Production Analysis in the Plastic Liner Market
Attributes | Details |
---|---|
Plastic Liner Market Value in 2023 | USD 4.8 billion |
Projected Market Value by 2033 | USD 7.1 billion |
Value-based CAGR of Market for 2023 to 2033 | 4.1% |
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The plastic liner market’s size in 2018 was tipped to be USD 4.04 billion. The market is likely to have progressed at a sluggish CAGR of 3.3% over the historical period from 2018 to 2022.
Progress of the plastic liner market slowed down during the pandemic. The market faced a shortage of raw materials as exports from prominent countries came to a halt. However, the market started to recover toward the end of the historical period. In 2022, the valuation of the market reached USD 7.1 billion.
Attributes | Details |
---|---|
Plastic Liner Market Value in 2018 | USD 4.04 billion |
Historical CAGR (2018 to 2022) | 3.3% |
The plastic liner market value is estimated to be USD 4.8 billion in 2023. During the forecast period, the market is projected to grow at a CAGR of 4.1%.
Prospects in the forecast period are better than the historical period for the plastic liner market. Increasing acceptance of plastic liners in the packaging for commodities in bulk is set to drive the market. The adoption of plastic liners in the food & beverage industry is tipped to continue growing over the forecast period.
The use of plastic liners for residential use is also increasing. However, there are stumbling blocks in the path of the market. Environmental concerns related to the use of plastic restrain the market for plastic liners. Packaging companies understand the sustainability demands of consumers and are moving toward alternatives, limiting the sales of plastic liners. By 2033, the plastic liner market is anticipated to have reached USD 7.1 billion.
Polyethylene continues to rule the plastic liner market. The polyethylene segment holds 41.3% of the market share by material.
Polyethylene is the most commonly produced plastic in the market. Polyethylene has the benefit of being resistant to chemicals, reducing the possibility of damage done in packaging. There are concerns related to the biodegradability of polyethylene, but the material is still the preference of manufacturers.
Top Material | Polyethylene |
---|---|
Market Share in 2023 | 41.3% |
The food & beverage sector is finding increasing use for plastic liners. In 2023, the food & beverage sector contributed 39.2% of the market share by end-use segment.
The food & beverage sector is growing at a rapid rate. The need for packaging comes with an increase in the sale of food commodities. The food & beverage industry is turning to plastic liners to satisfy packaging needs. Plastic liners provide protective packaging to food, ensuring the products do not get stale or ruined due to external factors. Thus, the rising need for plastic liners ensures the food product's quality is maintained from storage to consumption.
Top End-use Sector | Food & Beverage Sector |
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Market Share in 2023 | 39.2% |
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Asia Pacific is expected to be the fastest-growing region for the plastic liner market. Supply of raw materials and the rapidly evolving industrial sector are factors that play a part in the growth of the market in Asia Pacific. China, Thailand, and India are some of the countries where the market is predicted to grow at a good pace.
Europe is also a lucrative region for the market’s growth. However, regulations over the use of plastic in the region have hampered the growth of the plastic liner industry in the region.
Countries | CAGR (2023 to 2033) |
---|---|
United States | 2.5% |
United Kingdom | 3.9% |
Thailand | 5.1% |
India | 6.4% |
China | 5.7% |
India has one of the brightest futures for the plastic liner market. For the 2023 to 2033 period, the Indian market is expected to grow at a promising CAGR of 6.4%.
Efforts have been undertaken in India to promote the growth of the industrial sector in the country. Government and private players are looking forward to expanding the production capabilities in the country. The rise of the industrial sector is benefiting the packaging market, which is, in turn, helping the plastic liner market.
Thailand is another Asian country with potential for the plastic liner market. The market in Thailand is projected to grow at a 5.1% CAGR during the period from 2023 to 2033.
Companies in Thailand are aware of the consumers’ inclinations toward sustainability. Companies are making efforts to provide eco-friendly products to consumers. For example, Thai company ENVICCO Limited, in May 2022 opened a recycled plastic plant in the country.
The market in China is set to grow at a CAGR of 5.7% over the forecast period.
The pandemic halted exports from China, and the market was negatively affected. However, the exports are back in flow again, and China holds promise for higher sales growth of plastic liners.
The United States plastic liner market is expected to grow at a CAGR of 2.5% over the forecast period, owing to the country's diverse industrial and commercial sectors.
There has been a growing emphasis on sustainable and environmentally friendly liners, which has driven innovation in the industry, including the development of biodegradable and recyclable liners.
The United Kingdom strongly emphasizes environmental protection, which drives the use of plastic liners in waste management, such as landfill lining and leachate collection. Sales of plastic liners are expected to grow at a CAGR of 3.9% through 2033.
The British Standards Institution (BSI) and other regulatory bodies set standards for the use of plastic liners in various applications, ensuring quality and safety.
There is scope for both large industry players and small-scale manufacturers in the market. Companies in the market are undertaking mergers and partnerships to cater to the demand for the product.
Stringent regulations are driving market players to produce recyclable materials. There is a high focus in the market on products approved by regulatory bodies to earn the trust of residential and industrial consumers.
Recent Developments
The size of the plastic liner market is USD 4.8 billion in 2023.
The plastic liner market is forecasted to grow at a CAGR of 4.1% from 2023 to 2033.
Sales of plastic liners are expected to grow at a CAGR of 6.4% in India from 2023 to 2033.
Berry Global Group, RRR Supply, Inc., A-Pac Manufacturing Co., Inc., and Plascon Group International Plastics Inc. are some of the prominent companies in the market.
Increasing adoption in the industrial sector and the convenience provided by plastic liners are two of the reasons for the increase in demand for the product.
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