PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1394107
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1394107
According to Fairfield Market Research's latest analysis, the Asia-Pacific PE Woven Films Industry is set to achieve significant milestones, generating a total of US$ 71.9 million in 2024. The PE Woven Films Market is anticipated to maintain a steady growth trajectory, the market is expected to attain a substantial value of US$ 130.1 million.
PE Woven Films, a robust and lightweight thermoplastic polymer, are at the forefront of global plastic production. Distinguished by their superior mechanical strength in comparison to nonwoven films, PE woven films find extensive application in the construction and agricultural sectors. They serve multiple purposes, including vapor retarders, countertop protection, flooring, roofing, greenhouse covers, road reinforcements, mulches, and roofing membranes, among others. Notably, they play a vital role in road reinforcement, pavement overlays, soil remediation, erosion control, grain and silage pile covers, and more.
The Asia-Pacific PE Woven Films market is on an upward trajectory, fueled by the surging demand from the construction industry. Factors such as the growing number of green construction projects, stringent regulations to reduce carbon emissions, and rapid industrialization and urbanization in emerging economies like India and China are driving the demand for PE Woven Films in construction. Investments in residential and infrastructure development, facilitated by relaxed foreign investment laws, are further propelling the construction sector and, in turn, the PE Woven Films market.
The agricultural industry is a significant driver of demand for PE woven films. Lightweight and secure constructions are essential in this sector for applications such as greenhouse films, mulch films, and silage films. Greenhouse films provide durability and UV protection for crops, and the growing need for food due to population growth in countries like India and China is boosting agricultural production. Notably, plastic sheets are used in over 13% of China's agriculture, effectively controlling weeds and pests by trapping heat and moisture.
While the PE film industry undergoes significant dynamics, volatile prices are expected to have a more pronounced impact on the Asia-Pacific market due to its substantial global market share. Players in the PE film converting industry are reevaluating their strategies to maintain profitability. To mitigate costs, companies are shifting from low-cost film segments to value-added market segments, employing LLDPE instead of LDPE, and exploring value-added segments through bi-modal molecular weight PE grades.
In South Korea, the construction sector is poised to play a pivotal role in the development of smart cities and the revitalization of the urban economy. Smart agriculture technologies are also gaining prominence in the country, benefitting PE woven film manufacturers.
India is experiencing increased consumption of horticultural products, driven by rising export demands. This has led to a surge in greenhouses across the country, driving the demand for PE woven films.
Market players are strategically investing in the region to expand their PE Woven Film manufacturing capacities to meet growing end-customer expectations. Technological advancements, mergers, alliances, and partnerships have opened up numerous market prospects. Industry leaders are actively pursuing cutting-edge technological innovations to stay competitive and fuel the Asia-Pacific PE Woven Films market's growth.