Plastic Cores Market : An Overview
Plastic cores are used for various applications by multiple end-user industries. Plastic cores are used for providing tensile strength along with the convenient processing of products. Plastic cores have high dimensional consistency when compared to that of other substrates. Plastic cores come in a variety of sizes and are customizable as per the brand owner’s requirements. In addition, strength cores provide crush resistance which protects against damages. These attributes might boost the demand for plastic cores market. Furthermore, plastic cores are less flammable and therefore can withstand heat up to a certain temperature compared to the paper cores. Heat Resistance is an important aspect of processing or shipment of the product. Plastic cores offer a great opportunity for the brand owners to print on the surface area of the plastic core. Along with marketing opportunities, plastic cores have high versatility since they can be made in different colours with different prints to attract the customers. These factors are likely to increase the market demand for plastic cores.
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Plastic Cores Market : Dynamics
Plastic cores provide strength to packed products due to which the demand for plastic cores is expected to witness growth in the FMCG sector and building and construction sector. Plastic cores are used extensively in packaging labels and packaging tapes to provide overall strength and structure to the product. Convenient processing for wrapping and winding applications enhances productivity by reducing human intervention and minimizing the errors. Thereby, scaling up the production for the manufacturers. Moreover, plastic cores have a smooth surface which makes it ideal for winding and converting applications for films, tapes, labels fabrics and many continuous sheets or textile products. Increasing demand for FMCG industry and E-commerce is likely to boost the market demand for plastic cores market. Since packaging is an important part of these industries. The plastic cores can be sent back to the manufacturers which can be recycled. This improves sustainability and optimizes the use of plastic cores. Easy availability and economical cost of raw materials used in manufacturing plastic cores might support the growth of plastic cores market. However, regulatory norms on the use of single use plastics might restrain the plastic cores market.
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Plastic Cores Market : Segmentation
Plastic Cores Market can be segmented on the basis of material , applications and end-use industry.
By Material, plastic cores market can be segmented as
- Plastic
- Polyvinyl chloride (PVC)
- Polyethylene (PE)
- Polystyrene (PS)
- Polypropylene (PP)
- Others (Biodegradable Plastic – PLA)
By Application, plastic cores market can be segmented as
- Tape cores
- Film cores
- Converting cores
- Label cores
- Medical Supplies Cores
- Storage or Packaging Cores
- Cleanroom cores
- Others
By End-Use Industry, plastic cores market can be segmented as
- Textile Industry
- Shipping & Logistics Industry
- Building and Construction Industry
- Automotive Industry
- FMCG Industry
Plastic Cores Market : Regional Outlook
Asia Pacific region is likely to lead the global plastic cores market owing to high consumption of tapes, films & labels. Furthermore, the improved standard of living and urbanization will compel the growth of plastic cores market. Since expenditure on textile and FMCG is expected to rise. North America is also likely to witness positive growth in the plastic cores market due to growth in tapes, films and labels market.
Plastic Cores Market : Impact of COVID 19
Amidst the COVID 19 outbreak, the global demand for plastic cores market is likely to take a dip. Demand for textile products has come down to a grinding halt. Also, change in customer sentiments would have an impact on expenditure of non-essential products. Due to lock down the industries have halted and hampered the manufacturing which is likely to affect the demand for plastic cores. For the year 2020, the plastic cores market is likely to have a below-average growth. However, demand from the FMCG and E-commerce industry might affect the plastic cores market positively.
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