Stretch Hood Films Market Projected to Witness Vigorous Expansion by 2027
Global Stretch Hood Films Market: Dynamics
Growing automation in the packaging industry, emerging technologies for faster packaging, stretch hood films’ effectiveness and elastic nature to wrap different sized pallets, their excellent dust and moisture protection are few of the aspects pushing the growth of the global stretch hood films market. However, lack of plastic recycling technology and various government reforms can hamper the growth of the global market.
Global Stretch Hood Films Market: Forecast Insights
The global stretch hood films market is anticipated to grow at a robust rate throughout the period of forecast. The global market is expected to grow at a value CAGR of 7.8% to reach a market valuation of about US$ 1.3 Bn by the end of 2027 from an evaluation of US$ 600.7 Mn in 2017. This market has witnessed a significant growth path since 2012.
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Global Stretch Hood Films Market: Segmental Snapshot
The global stretch hood films market has been segmented by material (polyethylene, ethylene vinyl acetate and Plastomers, elastomers & others), by end use (construction, food & beverages, pharmaceuticals, consumer product, paper, textile and chemical & fertilizers), by thickness (up to 50 microns, 50-100 microns, 100-150 microns and 150 microns & above) and by region (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa).
By region, North America and Western Europe are anticipated to grow at similar yet higher rates during the period of forecast. Western Europe, being a shade higher in pace than North America, is likely to dominate the global market with an estimation of approximately 370 Mn by the end of 2027, as against North America which is expected to reach US$ 366.7 Mn during this period
50-100 microns segment by thickness is the largest segment reflecting a high value in 2017 and anticipated to reach a value higher than other segments in the thickness category, thus leading the global market. This segment is also poised to grow at the highest rate to register a robust 8.2% value CAGR throughout the period of forecast
Construction segment in the end use category is the most lucrative segment as it shows higher demand for stretch hood films. This segment is expected to grow at the highest CAGR of 8.1% along with pharmaceutical segment during the 2017-2027 period. However, construction segment is estimated to reach a higher value in the coming years thereby dominating the global market
Polyethylene segment by material has shown significant growth since past couple of years. In 2017 this segment dominated the global market and is expected to continue with this trend in the years to come. The polyethylene segment is estimated to reach a valuation of around US$ 865 Mn by the end of 2027
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Global Stretch Hood Films Market: Competitive Assessment
The global stretch hood films market research report has included analysis on key players in the market. The companies such as Sigma Plastics Group, Coveris Holdings S.A, Novolex Holdings, Inc., AEP Industries Inc., Integrated Packaging Group Pty Ltd., Trioplast Industrier AB, Muller Load Containment Solution, RKW Group, Muraplast d.o.o, Thrace Synthetic Packaging Limited, Rosenflex (UK) Limited, Manuli Stretch S.p.A, Shields Bag and Printing Co., UAB Umaras, Gebr Duerrbeck Kunststoffe Gmbh Limited, Aalmir Plastic Industries and NPF Polyfilms Pvt. Ltd., are profiled in this research report.
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