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 Stretch
And Shrink Film Market: http://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: http://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
Access press release of this
research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-stretch-and-shrink-films-market
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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