Polyethylene Films Market Size, Share, Growth Analysis, By Technology(Blown Film Extrusion and Cast Film Extrusion), By Type(Stretch Films and Shrink Films), By Thickness(Less than 50 Micron, 50 to 100 Microns, 101 to 200 Microns and above 200 Micron), By Region - Industry Forecast 2024-2031

In 2022, the Asia Pacific region became the leader in the global market, contributing to over 45.0% of the total revenue share. This considerable market share was driven by the growing consumer disposition towards supportable, eco-friendly, and recyclable packaging materials. Over the period from 2020 to 2035, this regional market is predictable to continue its expansion at a constant CAGR. Particularly, governments in several countries within the region, including China, Japan, Indonesia, India, Thailand, and Singapore, are actively providing support to manufacturers and end-users of supportable packaging materials as part of their efforts to condense the carbon footprint.

Europe stands as the second-largest region and is projected to range USD 27,875 million by 2031, with a growth rate of 4.4%. The plastic industry plays an essential role in Europe, driven by several key factors, including industrial value-added, public finances, and recycling, trade balance, and the multiplier effect. For instance, a study conducted by the Association of Plastics Manufacturers in Europe and The European Association of Plastics Recycling and Recovery Organizations (EPRO) in 2018 exposed that the European plastic sector maintains an advantageous trade balance of USD 18.5 billion and contributes knowingly, with USD 35.3 billion to public finances and welfare. Moreover, the multiplier consequence of 2.4 on the GDP and the gathering of around 9.4 million tons of post-consumer plastic waste for recycling in Europe are predictable to straight or circuitously drive the demand for the polyethylene film market in this region.