Remarkable Growth to be observed in Stretch and Shrink Film Market by 2024

Overview

Packaging is an important activity carried out for keeping the products safe. It enables easy transportation of products. Various types of packaging techniques are being developed globally as per product specifications. However, when it comes to securing the product from damage and improving its shelf life, the stretch and shrink films play an important role.

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Stretch films are highly stretchable plastic films that are wrapped around products. The elastic recovery keeps the product tightly bound. Stretch films are made up of polyethylene plastic. Stretch films are available in different ranges. Stretch films are applicable for all kinds of long distance shipping.Shrink films are clear polymer based films, which shrink when heated to conform to the shape of object they are wrapped around. Shrink films form a very tight seal important for safeguarding the product from pests, moisture, contaminants, dust, and insecticides. The shrink films are used on a large scale for food packaging. Stretch films are available in a variety of designs and widths, depending upon end use requirement.

Stretch and Shrink Film Market: Drivers & Restraints

Rise in developments in the food and beverage industries, especially in terms of packaging, are driving growth of the global stretch and shrink films market currently. The major aim of the suppliers, globally, is to supply and transport the products in the most efficient manner. Rise in industrial developments in developing countries indirectly affects the growth of the packaging industry. Concepts such as SEZ and ‘Smart Factories’ demand the use of smart packaging systems for contaminants free packaging of finished products, thereby boosting the market growth.

Increasing healthcare awareness among consumers and rise in environment concerns are making manufacturers more conscious about following proper packaging practices, especially in case of finished goods, thereby fueling growth of the stretch and shrink films market.

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However, sustainability of the market for stretch and shrink films majorly depends on the price and supply of raw materials, such as crude oil. The fluctuations in crude oil prices could render the value chain of stretch and shrink films. Presence of big and small packaging firms has created a highly competitive environment in the overall packaging market.

Stretch and Shrink Film Market: Market Segmentation

The global stretch and shrink film market is segmented on the basis of product type into:

• Low Density Polyethylene Based
• Linear Low Density Polyethylene Based
• Polyvinyl Chloride Based

The global stretch and shrink film market is segmented on the basis of application into:

• Storage and Distribution
• Pallet Utilization
• Bundling

The global stretch and shrink film market is segmented on the basis of end use into:

• Foods and Beverages
• Paper and Textiles
• Consumer Products

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC, S. Africa, and N. Africa)

Stretch and Shrink Film Market: Key players

•     Berry Plastics Group
• Bemis Company Incorporated
• Fuji Seal International
• Sigma Plastics Group
• Bolloré Group
• Novolex
• Coveris Holdings
• Paragon Films Incorporated
• Hood Packaging Corporation
• SIGNODE Industrial Group
• Dow Chemical Company
• Bollore
• ROBAPAC