Moldable semi-synthetic or synthetic organic solids are known as plastics. Plastic packaging revolutionized the packaging market by reducing the overall cost of packaging. Plastics are insoluble in water and chemically inert, due to which they are less toxic in nature. The traditional methods of packaging involved wood, paper etc. which incurred huge costs that was coupled with razing of forests. This ultimately led to the rise in global temperature and significant change in the climatic conditions across the globe.
Despite the economic slowdown in the European region due to the Greek debt crisis, the plastic packaging market experienced fuelled demand from the Asia-Pacific region and Latin America mainly due to the emerging economies and because of continuously evolving technology.
The growing applications of plastic packaging in different sectors, due to its vital characteristics, are in turn fuelling the global plastic packaging market. High tensile strength, low cost, and its unique flexible property make it a preferential choice over other packaging materials. Hence, the plastic packaging market is expected to excel elegantly in the coming five years.
The plastic packaging market growth has been slightly dampened due to the innovation of bio-based plastic packaging material. The biodegradability of bio-based plastic is posing a threat to the plastic packaging market. The impending regulations of Greenpeace and EPA regarding the disposal of waste plastic material are also acting as one of the barriers to the market.
Since plastic is one of the better alternatives to wood and paper, governments across the globe have been supporting the plastic packaging industry and this has opened new opportunities for the market.
U.S. and Europe are some of the better places for the plastic packaging market with high demand, however, emerging economies like Asia-Pacific are expected to acquire a significant market share in the coming five years.
Some of the key participants in this industry include Man Luen Plastic Packaging Co., Ltd, LINPAC, Printpack Inc., DS Smith PLC, Daibochi Plastic and Packaging Industry BHD, APPE, AEP Industries, Alpla-Werke, Amcor, Berry Plastics Corporation, Reynolds Group Holdings Ltd., Rexam, RPC Group Sealed Air Corporation, Silgan Holding Inc., the Britton Group, and Others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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