Americas Polypropylene (PP) Films Market Size

Americas Polypropylene (PP) Films Market Analysis

The America PP film market was valued at USD 6685.4 billion in 2020, and it is expected to reach USD 10093.72 million by 2026, registering a CAGR of 7.2 % during the forecast period (2021 - 2026). The PP films typically find their usage across primary and secondary packaging across food, pharma, and industrial, amongst others.

• The regional market is witnessing strategic collaborations to boost their regional as well as domestic market presence. For instance, in November 2019, GELPAC, a Canadian provider of high-performance packaging solutions, strategically acquired WBC Extrusion Products, Inc., an American specialty manufacturer of single-use blown polymer films for the food, industrial, automotive, medical and commercial packaging industries.
• The demand for biaxially-oriented polypropylene (BOPP) film is expected to grow over the forecasted period, despite pressure on plastics and few domestic recycling options for PP film. Hence, this is expected to provide further opportunities for the market players to gain maximum market traction.
• In September 2019, Toppan USA, Inc. showcased films which are ideal for mono-material packaging, and provide outstanding recyclability. Toppan's original coating and deposition technologies which are expected to significantly transform the recyclability of flexible packaging.
• Furthermore, Mexico continues to invest in environmental technology, especially in the areas of air and water pollution, and to a lesser extent in waste management.
• In February 2019, Taghleef reported that its customers, including converters and end-users, are demanding excessively for its PLA biodegradable and compostable plant-based NATIVIA film range, as well as for their 100% recyclable BOPP films for use in straw wraps and flexible packaging for bakeries and other food producers.
• Moreover, the coronavirus pandemic caused a drastic effect on the entire plastics manufacturing chain, with high resin inventories, dropping demand, and record-low global prices of materials and feedstocks. As a result, Polypropylene prices fell in March, due to a tighter supply situation.
• Further, regulatory bodies such as FDA and ASTM have released guidelines associated with the production and use of polypropylene. These regulations also cover applications in the food packaging sector concerning the raw material and additives used in the production processes. These trends will remain key market influencers through and after the coronavirus pandemic.