21 Jul, 2020, 14:38 ET
CLEVELAND, July 21, 2020 /PRNewswire/ -- COVID-19 has led to suspension of state and local bans of single-use plastic items, including film-intensive products like retail bags. Despite the ongoing shift away from plastic single-use items due to their negative environmental profile, the pandemic has altered perceptions of plastic bags, which are considered safer and more hygienic than reusable types. In fact, in some parts of the US, reusable bag use has been banned in grocery stores due to concerns about the spread of coronavirus.
This is providing some temporary respite for plastic film suppliers who've been facing declining film demand in retail bag applications, which totaled 950 million pounds in 2019. However, gains from the suspension of these policies will be offset by ripple effects in other areas, such as trash/garbage bags and can liners, which were benefitting from plastic bag bans, as many consumers often reuse retail bags for these purposes.
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A new Freedonia Group analysis projects demand for plastic film will total 16.8 billion pounds valued at $23.8 billion in 2024. Plastic Film analyzes the US market for plastic film, including converted or unconverted plastic films, by application and resin type. Historical data for 2009, 2014, and 2019 and forecasts for 2024 are presented in pounds.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group
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