Future Market Insights (FMI)projects that the global PE films market will reach a valuation of $79.2 billion by 2032, with sales growing at a CAGR of 4.3%.
PE films offer benefits such as barrier properties, lightweight, flexibility, aroma locking, water and air resistance, and no chemical reaction. These features will help in surging demand from the food and beverage, pharmaceutical, medical, horticulture, homecare, cosmetics, agriculture, building, construction, electrical and electronics markets.
"Increasing applications of PE films for the packaging of ready-to-eat meals, along with the expansion of the e-commerce sector in emerging economies will continue fueling the growth in the market over the forecast period," says an FMI analyst.
FMI says the demand in the food and beverage segment is expected to grow by 1.6 times and the U.S. will account for nearly 18.3%.
