Global demand for cast polypropylene films market was valued at approximately USD 4.80 billion in 2018 and is expected to generate revenue of around USD 7.04 billion by end of 2025, growing at a CAGR of around 5.6% between 2019 and 2025.
Cast Polypropylene (CPP) Films Market
The report covers forecasts and analysis for the cast polypropylene films market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on volume (Kilotons) and revenue (USD Billion). The study includes drivers and restraints for the cast polypropylene films market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the cast polypropylene films market on a global as well as regional level.
As per the report, the global demand for cast polypropylene films market was valued at approximately USD 4.80 billion in 2018 and is expected to generate revenue of around USD 7.04 billion by end of 2025, growing at a CAGR of around 5.6% between 2019 and 2025.
Cast polypropylene or CPP films offer versatile properties from an industrial perspective such as high impact strength, dimensional stability, heat sustainability, printability, and transparency, which are produced by using raw materials of high grade and laminating aspects. Cast polypropylene films are widely used in industries such as food, packaging, cosmetics, apparel, and pharmaceutical, to increase the shelf life of the products.
It offers excellent transparency and external gloss. Cast polypropylene film has a low-density property like impact resistance and also outstanding tear resistance. Moreover, CPP is also used as a sealant film for non-retort and retort purposes. Therefore, it is the best material used in the packaging of various products from bread to snacks and fresh products.
The rising demand for packaged food and ready-to-eat products coupled with the escalating global population is projected to be one of the prime factors driving the cast polypropylene films market growth. There is a growing application of cast polypropylene films in the healthcare and pharmaceutical industries to protect products from contamination and to extend the shelf life of drug packaging.
Additionally, the surging application of cast polypropylene films in the packaging of cosmetics products is likely to enhance the consumption of cast polypropylene films, thereby, propelling the cast polypropylene films market growth in the upcoming years as well. But, the fluctuating prices of the product may hamper the market growth in the near future. However, product innovation and continuous research and development in the cast polypropylene films industry are further expected to offer new growth opportunities to the market.
The global cast polypropylene films market is segmented on the basis of product type, thickness, and application. Based on product type, the market is segregated into general, metallic, retort, and others. General cast polypropylene films accounted for a significant share of the global cast polypropylene films market. The rising demand for the product in heat resistance packaging applications is expected to boost the market growth.
Based on thickness, the global cast polypropylene films market is divided into 0-30 microns, 31-50 microns, and above 50 microns. 31-50 microns accounted for around 50% of the global cast polypropylene films market.
Based on application, the global cast polypropylene films market is classified into food & beverages, agriculture, stationery, textile, medical & pharmaceutical, architecture, and others. In 2018, the food & beverages segment dominated the cast polypropylene films market and the stationary segment is projected to grow at the highest CAGR during the forecast period.
The surging application of cast polypropylene films in the food packaging industry in developing as well as developed countries is expected to drive segment growth.
The Asia Pacific is the dominating region and is projected to maintain its dominance in the next few years as well. The booming demand for processed food products has further propelled regional market growth.
Moreover, the rapidly growing application of cast polypropylene films in the pharmaceutical industry is anticipated to fuel the market in the upcoming years as well.
Furthermore, North America is estimated to observe significant growth during the forecast period owing to the surging demand for cast polypropylene films in the food & beverage and cosmetics industries.
Some of the key players operating in the global cast polypropylene films market include Uflex Limited, Polibak, Tri-Pack Films Limited, Copol International, Tohcello Inc., Manuli Stretch s.p.a., Profol group, Panverta, Polyplex, Jindal Poly Films, 3B Films Ltd., Poligal, Mitsui Chemicals, and Plastchim-T among others. The key manufacturers of cast polypropylene films are focusing to enhance its business in emerging countries. For instance, Polyplex Corporation Limited has expanded its business of packaging films in Indonesia to cater to the increasing demand in the country.
By Product Type