The most recent study conducted by Report Ocean, titled “Global LDPE & LLDPE Sealant Web Films Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the LDPE & LLDPE Sealant Web Films. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global LDPE & LLDPE Sealant Web Films Market is valued at approximately USD 299.14 million in 2021 and is anticipated to grow with a healthy growth rate of more than 4.2% over the forecast period 2022-2029. Low-density polyethylene (LDPE) and linear low-density polyethylene (LLDPE) sealant web films are a variety of sealant web films that offer high heat-sealing strength LDPE and LLDPE plastics. These sealant web films required low heat energy to seal and present a strong moisture barrier. Factors such as the increasing requirements for protective solutions in the packaging industry, growing industrialization, coupled with the rising application of LDPE & LLDPE Sealant Web Films in various industries are propelling the market demand around the world.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The surging demand for frozen food packaging is driving the LDPE & LLDPE sealant web films market owing to its functional features and exceptional barrier properties. According to Statista, in Latin America the frozen food packaging market value for USD 6.37 million, which is projected to bolster and expected to reach USD 7.53 million by the year 2025. Therefore, the high consumption of frozen food as a result of quick alternatives for meals is stimulating market growth in the global market. Moreover, the increasing developments in technology, as well as the introduction of bio-based sealant web films are presenting a large opportunity for the multilayer LDPE & LLDPE sealant web films market in the forthcoming years. However, issues with recyclability of the films and depletion in the availability of fossil fuels increasing price of oil-based plastics are hindering market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global LDPE & LLDPE Sealant Web Films Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rising demand for processed food items and the growth of the e-commerce sector. Whereas, the Asia Pacific is expected to grow at the highest growth rate over the forecasting period. Factors such as the increase in the number of small and unorganized packaging manufacturers in the region, as well as the rapid expansion of food & beverage industries are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
Berry Global, Inc.
Mitsui Chemicals Tohcello, Inc.
Polyfilm Group
DIC Corporation
Avery Dennison Corporation
DuPont de Nemours, Inc.
Plastic Suppliers, Inc.
Winpak Ltd.
ProAmpac LLC
Dai Nippon Printing Co., Ltd.
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Recent Developments in the Market:
In August 2022, Berry announced the launch of recycled PET versions of its most popular and best-selling thermoformed and injection that is stretch blow moulded food packaging (rPET).
In February 2021, ProAmpac LLC unveils its high-performance recyclable film for frozen food packaging which is a polyethylene-based laminated structure and provides robust sealant technology.
In July 2021, DIC Corporation declares the introduction of a new coating resin product that is available on the company’s website. The new product finder makes it easy for customers to choose the best product for their needs from DIC’s portfolio of more than 300 coating resins, along with the essential characteristics, confirm suggested applications, and other basic product information.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material Type:
Low-density Polyethylene (LDPE)
Linear Low-density Polyethylene (LLDPE)
By Thickness:
Up to 45 Micron
46 to 60 Micron
Above 60 Micron
By Application:
Flat Pouches
Standup Pouches
Bags & Others
By End-User:
Food & Beverage
Pharmaceutical
Electrical & Electronics
Cosmetics & Personal Care
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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