Plastic Film, Sheet & Bag Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: June 2024
NAICS 32611Revenue
$51.7bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
93,952
Businesses
882
Wages
$X.Xbn
Plastic Film, Sheet & Bag Manufacturing in the US industry analysis
The plastic film, sheet and bag manufacturing industry has done exceptionally well in recent years despite significant challenges. Moderate import penetration from USMCA participants and China satisfies a growing percentage of domestic demand. Also, environmental concerns have turned public opinion against plastic products. Still, the industry is so entrenched in the packaging subsector that this has done little to hinder growth. Overall, industry-wide revenue has expanded at a CAGR of 1.5% through the end of 2024 to reach $51.7 billion, including an expected 0.9% hike in 2024 alone. Profit has shrunk to 3.2% of revenue in 2024, down from 3.8% in 2019, as manufacturers grappled with the pandemic and its aftermath.<br />The industry shrunk in 2020 alongside the broader economy because of the COVID-19 pandemic as bulk purchasers like restaurants and factories shut down and slowed production. Still, prolific online spending cushioned the blow as demand was sustained by online retailers like Amazon. The industry has grown yearly, with 2021 being exceptionally gainful as the economy reopened. Still, the industry has continued its long-term consolidation trend, with enterprises and establishments shrinking despite revenue and employment growth. In 2019, Amcor acquired competitor Bemis as part of a merger, upsetting the balance of power in the industry.<br />These trends are likely to continue in the years to come. Environmental concerns surrounding plastics will continue to plague the industry, prompting innovation from the industry’s most prominent manufacturers. Advancements in bioplastics and reusable plastics have shown promising applications for the industry. Acquisition activity is likely to mount as Sealed Air, Amcor and Berry Global compete to expand their influence. Overall, industry-wide revenue has expanded at a CAGR of 1.5% through the end of 2024 to reach $51.7 billion, including an expected 0.9% hike in 2024 alone.
Trends and Insights
- Shops, supermarkets and other vendors frequently use plastic bags and other plastic materials to package customer items. Although this market is significant, demand for plastic products relies on macroeconomic factors impacting consumer spending.
- Agricultural and construction industries are key markets. These markets use large quantities of plastic goods such as drop cloths for painters, pit coverings, vapor and moisture barriers for concrete drying and wall building.
- The location of critical markets is essential and typically affects where plastic film, sheet and bag manufacturers are. This enables manufacturers to lower transportation costs.
- Manufacturers frequently compete on pricing since it’s challenging to differentiate between most items. Pricing is based on production costs, optimizing production volumes and plant capacity to increase efficiency.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.5 % over the past five years, to reach an estimated $51.7bn in 2024.
Trends and Insights
Downstream markets play a big role
- The food manufacturing sector remains the largest market for plastic product manufacturers. Plastic materials provide excellent barrier properties that extend the shelf life of perishable items, prevent contamination and maintain product quality. In the food industry, plastic bags are widely used by retailers, supermarkets and other vendors to package fresh produce, bakery items, deli meats and dairy products.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Rising consumer spending is expected to boost revenue
- One key driver of revenue growth in these industries is the anticipated increase in demand for food, beverages, tobacco and other consumer items.
Biggest companies in the Plastic Film, Sheet & Bag Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
New Amcor | 4,729.3 | 677.4 | 14.3 | |
Sealed Air Corporation | 1,713.2 | 277.7 | 16.2 | |
Novolex Holdings LLC | 1,208.2 | 54.4 | 4.5 |
To view the market share and analysis for all 29 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Plastic bags, Plastic packaging film and sheets and Plastic film and sheets (excluding packaging). Plastic bags is the largest segment of the Plastic Film, Sheet & Bag Manufacturing in the US.
Trends and Insights
Plastic film and sheets generate the most revenue
- The agricultural and construction sectors use large quantities of plastic film and sheets for weather protection, drop cloths for painters, pit coverings, vapor and moisture barriers for concrete drying and wall building.
- More insights available in the full report
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Competitors
- Coated & Laminated Paper Manufacturing in the US
Complementors
- Plastic Pipe & Parts Manufacturing in the US
- Laminated Plastics Manufacturing in the US
- Plastic Products Miscellaneous Manufacturing in the US
International industries
- Global Plastic Product & Packaging Manufacturing
- Plastic Film, Sheet & Bag Manufacturing in Canada
- Plastic Bag and Film Manufacturing in Australia
- Polymer Film and Sheet Packaging Material Manufacturing in New Zealand
- Plastic Packing Goods Manufacturing in the UK
Table of Contents
About this industry
Industry definition
This industry converts plastic resins into various films, sheets and bags. Industry products are used by manufacturers for packing and storing products, by retailers for transporting merchandise and by consumers for household purposes. Industry operators also form, coat or laminate plastic film and sheets into single-wall or multiwall plastic bags.
What's included in this industry?
Plastic film for bagsPlastic film for food storage bagsPlastic film for grocery bagsPlastic film for merchandise bagsPlastic film for trash bagsPlastic film for packagingPlastic film (except for packaging)Plastic film and unlaminated sheet (except packaging) Unlaminated plastic sheets (except packaging)Companies
New AmcorSealed Air CorporationNovolex Holdings LLCPurchase this report to view all 29 major companies in this industry.
Related Terms
MULTIWALLVINYLLAMINATECRYOVACEXTRUSIONCOEXTRUSIONPOLYETHYLENEIndustry Code
NAICS 32611 - Plastic Film, Sheet & Bag Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Shops, supermarkets and other vendors frequently use plastic bags and other plastic materials to package customer items. Although this market is significant, demand for plast...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Agricultural and construction industries are key markets. These markets use large quantities of plastic goods such as drop cloths for painters, pit coverings, vapor and moist...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The location of critical markets is essential and typically affects where plastic film, sheet and bag manufacturers are. This enables manufacturers to lower transportation co...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Manufacturers frequently compete on pricing since it’s challenging to differentiate between most items. Pricing is based on production costs, optimizing production volumes an...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
New Amcor dominates the market. Its overall market share has grown due to its ability to stay ahead of the curve by introducing new and advanced plastic manufacturing materia...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of New Amcor's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Sealed Air Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Novolex Holdings LLC's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 26 additional companies
Detailed analysis
- Description and key data for New Amcor, and factors influencing its performance in the industry
- Description and key data for Sealed Air Corporation, and factors influencing its performance in the industry
- Description and key data for Novolex Holdings LLC, and factors influencing its performance in the industry
- Description, key data and performance trends for 26 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Manufacturers employ skilled staff to run ever-more complicated machinery that uses cutting-edge production techniques. This need for qualified employees has led to higher wa...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Manufacturers must be willing to invest since larger companies can operate more efficiently. Developing faster and significantly greater equipment enables large producers to ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Plastic Film, Sheet & Bag Manufacturing in the US industry in United States in 2024?
The market size of the Plastic Film, Sheet & Bag Manufacturing in the US industry in United States is $51.7bn in 2024.
How many businesses are there in the Plastic Film, Sheet & Bag Manufacturing in the US industry in 2024?
There are 882 businesses in the Plastic Film, Sheet & Bag Manufacturing in the US industry in United States, which has declined at a CAGR of 0.7 % between 2019 and 2024.
Has the Plastic Film, Sheet & Bag Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Plastic Film, Sheet & Bag Manufacturing in the US industry in United States has been growing at a CAGR of 1.5 % between 2019 and 2024.
What is the forecast growth of the Plastic Film, Sheet & Bag Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Plastic Film, Sheet & Bag Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Plastic Film, Sheet & Bag Manufacturing in the US market in United States?
The biggest companies operating in the Plastic Film, Sheet & Bag Manufacturing market in United States are New Amcor, Sealed Air Corporation and Novolex Holdings LLC
What does the Plastic Film, Sheet & Bag Manufacturing in the US in United States include?
Plastic film for bags and Plastic film for food storage bags are part of the Plastic Film, Sheet & Bag Manufacturing in the US industry.
Which companies have the highest market share in the Plastic Film, Sheet & Bag Manufacturing in the US in United States?
The company holding the most market share in United States is New Amcor.
How competitive is the Plastic Film, Sheet & Bag Manufacturing in the US industry in United States?
The level of competition is high and steady in the Plastic Film, Sheet & Bag Manufacturing in the US industry in United States.
