Russian version 'in the pipeline'
PET film demand in the packaging market is forecast to expand 2.4 percent annually to 322 million lbs in 2021, faster than any of the major packaging film resins, according to a new report from industry research firm Freedonia Group.
According to Packaging Films Market in the US, growth will be driven by rising barrier requirements, particularly in food packaging. PET’s moderate barrier properties can better address these requirements than other commodity resins at a comparable cost.
Demand for PET film in food packaging is expected to grow 2.5 percent a year to 219 million lbs in 2021. Meat, poultry and seafood, and snack food were the two leading outlets for PET film packaging in 2016, together accounting for 40 percent of demand. In both markets, growth will be stimulated by higher barrier demands. Opportunities in the meat, poultry and seafood market include ‘heat-and-eat’ packaging and retort pouches, and growth areas in snack food include high barrier, transparent pouches for snack nuts, and high-end chip and popcorn bags.,
However, Freedonia Group analyst Ellen Kriz said: ‘Growth will be restrained by competition from high barrier resins such as nylon and PVDC that are well-established in the meat, poultry and seafood market, as well as limited applications in snack food packaging. Most demand for film in snack food packaging derives from polypropylene bags.’