Plastic Film Industry News – Volume 1
Those that utilize plastic film products can benefit from a general understanding of the trends and advancements that are impacting in plastic film industry news.Plastic film is an industry that is constantly changing. There are new industry advancements, fabrication methods, and cutting edge technology being created on a regular basis that impact how materials are produced and how customers can optimize their use of these products.
Additionally, the current state of the world and economy can have a major impact on how the industry evolves in the coming years. If you want to learn more about what’s happening in the world of plastic films, here are some general headlines that you should be aware of regarding the industry.
Plastic Film a Bright Spot in COVID-19 Economy
Many industries have suffered in 2020, due in large part to the COVID-19 pandemic. This has led to widespread economic concerns throughout the country and the rest of the world. However, there are a few industries providing bright spots in these trying times. And packaging is one of them.
Plastic film is one of the most popular materials used in the packaging industry. It provides tons of customization opportunities for product manufacturers to fully protect items and create aesthetically pleasing solutions. Additionally, the material can create a tight seal without creating a bulky or cumbersome solution. Essentially, it offers the best of both worlds when it comes to form and function.
During these times, protecting various products from contamination is more important than ever. And since consumers have continued to order packaged products from various providers, the industry has remained steady and even grown throughout 2020. Since packaging is such an essential part of keeping certain products safe for consumers, the industry has not experienced many of the shutdowns and other issues that so many industries have had to deal with. Of course, there have been operational challenges as there are with any new situation. But providers have been able to meet these challenges and thrive.
Basically, those that need packaging solutions for their products can continue to rely on plastic film to provide tailored solutions that fit their exact needs, even during a time when companies in many other industries are struggling.
Plastic Industry Experiencing Growth
But it’s not just packaging that has been a bright spot in the U.S. economy. In fact, the plastic films industry as a whole is experiencing growth this year. And the industry is projected to continue that growth throughout the next several years as well. More specifically, demand for plastic film is projected to grow by about 1.1% per year between now and 2024. That means output is expected to rise to about 16.8 billion pounds by 2024. At that point, the industry should be valued at about $23.8 billion.
And it’s not just traditional packaging materials that are expected to spur this industry growth in the coming years. A huge array of materials are expected to contribute to this major boost in demand and output. For example, LLDPE is expected to continue being one of the most popular materials in the industry. But polypropylene and PET films are also expected to break through and see increased demand as well. And even bio based resins are projected to experience massive growth in the coming years. In fact, these films may see the sharpest upswing if consumers continue to prioritize sustainable solutions.
Potential Advances in Plastic Film Could Benefit Solar Technology
Plastic film is already a popular material solution used in the production of photovoltaic panels. These are essential for use in the growing field of solar energy. They allow homeowners, businesses, and communities to turn the sun’s rays into usable energy, providing a sustainable and affordable solution. Films can be used in traditional solar panels as well as those used for specific functions like lighting, water heaters, and attic fans.
Now, a new technological advancement may make plastic films even more important to the solar industry. Basically, these recent findings show that only a very thin layer of light-dependent azobenzene-containing plastic film at the very top of each panel may need to be sensitive to light in order for the panels to function efficiently. Previously, scientists and manufacturers believed that the entire film needed to be sensitive to light.
This new finding is still in the very early stages. So it is not necessarily making an impact on the films being produced for this industry today. However, this advancement could potentially open up plenty of new possibilities for the industry. For example, more efficient film layers could allow producers to significantly reduce their production costs and revolutionize the use of plastic film for solar technology. This in turn could make panels more affordable and attractive for consumers, driving up demand and production across the industry. Overall, this could mean big things for solar power providers, their customers, and the environment as a whole.
If you’re in the market for plastic films from a provider with access to industry leading conversion equipment, look no further than PolymerFilms. We offer plastic film solutions for companies that produce printed electronics, displays, food and beverage containers, and even ID cards. And our plastic film materials are available in various gauges and sizes. We also provide in-house conversion capabilities, which means clients receive film products that are made to their exact specifications. With five distribution centers throughout North America, we provide personalized service to each client and offer fast turnaround times for quotes and orders. When you’re ready to discuss your plastic film needs, just visit our website to request a free consultation today.