Printed Plastic Films Market Report

The opportunity in printed plastic films can be seen due to the rising technology used in the production of printed plastic films. The technology, such as the use of interactive packaging design allows the customer a deeper base. Technology, such as augmented reality and QR codes, is being used to make memorable experiences in the minds of customers and build stronger connections between brands and customers. This has also been integrated by various businesses to give a continuous update regarding the product. Also, technological advancement can be seen in the field of printing, where the invention of digital printing has been introduced and integrated by various manufacturers due to its unique features like faster speed and cost-effectiveness. The use of digital printing technology is majorly adopted and is seen as an opportunity due to its addition and unique features, which give freedom to the manufacturer to customize it digitally and can be printed whenever needed without any limitation of cylinders or dyes.

Despite all the advantages of printed plastic films, manufacturers still face some challenges, where the most common challenge is regarding the substitutes available in the market. The printed plastic films can be easily substituted by compostable film and paper-based packaging. Paper bags, a sustainable and biodegradable solution, have been preferred over the use of printed plastic films. Due to the drawback of non-biodegradable printed plastic films, the use of paper-based packaging has experienced growth.

Also, major populations of countries such as the United States, United Kingdom, Australia, etc. have seen demand for a sustainable option that paper-based bags provide. Also, countries such as India, the United States, France, and Australia have banned single-use plastic due to the amount of waste generated by it. An additional problem that arises is the shortage of raw materials. The production process of printed plastic films is likely to be harmed, especially when it comes to petroleum-based polymers. As production-printed plastic films are dependent on gas and petrol, price fluctuations of raw materials are bound to happen.

In May 2022, ProAmpac, a leader in flexible packaging and material science, announced that it had acquired Specialty Packaging, Inc., a family-owned manufacturer of specialty paper, film, and foil packaging products for the fast food and food services industries. The addition of Specialty Packaging’s complementary product portfolio and manufacturing capabilities extended ProAmpac’s reach with food service customers and expanded its footprint to the southwestern United States. In December 2020, PrintCYC was a value chain initiative for the recycling of printed films. The machine suppliers Brückner Maschinenbau, Kiefel, and PackSys Global, the CPP film specialist; Profol, the ink manufacturer, hubergroup, the converter Constantia Flexibles, as well as the recycling technology specialist Erema were the current members. The initiative was coordinated by Annett Kaeding-Koppers an independent packaging and sustainability consultant.

Europe Union, due to its increasing food and beverage market, can be seen as a potential market. As per the data of FoodDrinkEurope, in 2023, around 4.6 billion people generated a turnover of US$ 1.09 billion. At the same time, the EU is also labeled as the largest exporter of food and drink in the world, where the exports outside the EU were measured at US$ 198 billion, while the EU enjoyed a trade surplus of US$ 79 billion. Also, according to Germany Trade and Invest (GTAI), proudly holds the title of having the fourth-largest food and beverage industry in Europe. Considering the above facts and figures, the EU will be using printed plastic films to secure its position, which makes the European Union a remunerative market.

Asia Pacific, due to its rising e-commerce industry, can also be seen as a promising market. Speaking about India, according to Invest India, India is considered the second largest market in the world with 900 million users. Also, the e-commerce market in China is booming. According to eMarketer, there are more than 710 million digital buyers, and overall transactions have reached US$ 2.29 trillion in 2020 and are forecast to reach US$ 3.56 trillion in 2024. Hence, China and India, due to their vast e-commerce markets, need to be focused.