Cast Stretch Packaging Films Market - Lucrative Opportunities Across Globe
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Cast Stretch Packaging Films Market: Drivers & Restraints
Increased customer inclination towards safe, lightweight and cost-efficient packaging solution coupled with growing food and beverage (F&B) industry has emerged as the key driver of the growth in cast stretch packaging film market across the globe. Product shipping as a result of an increase imports-exports among the regions and also retail trade among suppliers and distributors also add to the growth of the cast stretch packaging films market. Also, as this films provide excellent clarity thus can allow the use of RFID and other scanning technology. However, As compared to blown stretch film, cast stretch films are less tear resistant thus providing less load power.
Cast stretch packaging films are in high demand for pallet wrapping mainly in the food packaging industry. Based on the material type, Polyolefin polymers especially, the low-density polyethylene (LDPE) cast stretch film resins are anticipated to lead the cast stretch packaging films market throughout the forecast period. Also, Cast stretch packaging films with thickness in the range of 50 to 120 gauge are estimated to be largely used over the forecast period.
Cast Stretch Packaging Films Market: Regional Overview
The Cast stretch packaging films market in Europe and North America region are expected to grow linearly throughout the forecast period as this packaging market has comparatively achieved maturity thus losing a sizable share of the global cast stretch packaging films market to Asia Pacific. Key manufacturers that operate in established cast stretch packaging films markets are eyeing Asia-Pacific markets to grow economically by efficiently using the resources from India and other ASEAN countries at a reasonable rate.
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The Asia-Pacific market is likely to propel as the most lucrative market for the growth of cast stretch packaging films. As a result of an increase in food & beverages, consumer care, and various other end-use industries, the Asia-Pacific cast stretch packaging films market is estimated to witness a healthy growth over the forecast period. Latin America and MEA region are expected to show a constructive growth rate during the forecast period as a result of growth in manufacturing sector. Overall, the global cast stretch packaging films market is estimated to show a robust CAGR over the forecast period.
Cast Stretch Packaging Films Market: Key Players
Some of the key players that operate in the cast stretch films packaging market across the globe are U.S. Packaging & Wrapping LLC., Bemis Company, Inc., Rajapack Ltd., AEP Industries Inc., Coveris Holdings S.A., Amcor Limited, Sigma Plastics Group, Inc., , Grafix Arts., Berry Global, Inc. and Clondalkin Group Holdings BV.
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