The global stretch
and shrink film market is expected to reach USD 18.46 billion by 2024,
according to a new report by Grand View Research, Inc. Rising demand for the
light-weight material for industrial packaging is expected to drive growth for
the product over the forecast period. The demand is expected to be driven by
superior packaging properties such as improved printability, easier application
and robust package sealing capabilities of the films.
The introduction of superior shrink and stretch film
materials such as linear low-density polyethylene (LLDPE), extended
polyethylene (EPE) and High-Density Polyethylene (HDPE) is expected to further
strengthen the pallet holding abilities of the films. In addition, the
development of bio-degradable stretch and shrink films by the leading
manufacturers in a bid to counter the challenges of film disposal is expected
to drive the demand over the next eight years.
The low weight of the product results in a substantial
decrease in the transportation cost thereby elevating the profit margins,
resulting in the higher adoption of such packaging materials by the leading
end-use industries.
Browse full research report on Global Stretch And Shrink Film Market: https://www.grandviewresearch.com/industry-analysis/stretch-and-shrink-films-market
Further
key findings from the report suggest:
- LLDPE is expected to witness robust growth, growing at a CAGR of
over 5% from 2016 to 2024. The demand for LLDPE was driven by superior
pallet unitization characteristics of the LLDPE shrink films. The LLDPE
resin based stretch films are expected to grow owing to the increased
damage resistance during product transportation.
- Stretch and shrink film hoods are expected to register highest
growth rate, growing at a CAGR of more than 5% from 2016 to 2024. The
growth is expected to be driven by increasing demand for hoods in
industrial packaging and consumer goods packaging. Also, ease of packaging
achieved by stretch and shrink film hoods are is expected to drive the
demand for the product over the forecast period.
- Sleeves and labels accounted for over 40% of the global shrink
films market in 2015 and are expected to witness robust growth on account
of rising demand for the product in the beverage industry. Also, easier
product marketing and branding owing to the ease of application of the
labels onto the bottle is expected to attract major beverage manufacturers
towards the product segment.
- Food and beverages application accounted for 40% of the overall
revenue driven by the increasing demand for high strength, low weight
packaging materials. In addition, ease of packaging material sterilization
is expected to drive the demand for stretch films for food packaging.
- The demand for the industry in Asia Pacific was valued at over USD
4 billion in 2015 owing to rapid growth of the application industries such
as food & beverage and consumer goods. In addition, growing import and
export activities by the developing economies such as India and China are
expected to drive the demand for low weight packaging material for pallet
unitization of industrial goods.
- Major industry players resort to mergers & acquisitions
(M&A) as well as capacity expansions to cater to the growing demand.
Furthermore, companies including Sigma Plastics Group and Berry Plastics
Corporation have acquired companies to expand their market presence.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/specialty-bio-based-and-water-soluble-polymers
Grand
View Research has segmented the stretch and shrink film market on the basis of
resin, product, application and region:
Resin
Outlook (Revenue, USD Million, 2013 - 2024)
- LLDPE
- LDPE
- PVC
- Others
Product
Outlook (Revenue, USD Million, 2013 - 2024)
- Hoods
- Sleeves and
labels
- Wraps
Application
Outlook (Revenue, USD Million, 2013 - 2024)
- Food &
beverage
- Industrial
packaging
- Consumer
goods
- Pharmaceutical
Regional
Outlook (Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East
& Africa
- South Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Shaktiman Packaging Pvt. Ltd. is one of the leading best Stretch film Exporters in India, Provides with durability, flexibility and reliability who are using premium quality raw material.
ReplyDeleteAston Packaging is notable as Self Adhesive Tape Exporters that gives different norm as well as altered particulars. We utilize premium quality unrefined substances and assembling offices.
ReplyDeleteColor tapes Manufacture In Chennai