Stretch and Shrink Film Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

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.

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: Regional-Outlook

The global stretch and shrink film is segmented into seven key geographical regions, which include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and the Middle East & Africa. Asia Pacific is expected to dominate the stretch and shrink film market in the coming years. Increase in end use application of the stretch and shrink films in the region is expected to drive growth of the stretch and shrink film market in the region. The market in Asia Pacific is expected to be followed by Western Europe and North America, which are major contributors to the food and beverages industries as well as the consumer products. The Latin America and the Middle East and Africa markets are also expected to be major contributors to the growth of the overall stretch and shrink films market in the coming years. Increasing investments in the food and beverages industry in Latin America and emerging countries in the Middle East and Africa is the major factor anticipated to drive the market growth in these regions.

Stretch and Shrink Film Market: Key players

Some of the key players in the global stretch and shrink film market are:

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
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