Plastic Shrink Wrap Market to Reach USD 4.67 Billion by 2033 with a 4.1% CAGR, Driven by Sustainable Packaging Trends | FMI

The global 𝐩𝐥𝐚𝐬𝐭𝐢𝐜 𝐬𝐡𝐫𝐢𝐧𝐤 𝐰𝐫𝐚𝐩 𝐦𝐚𝐫𝐤𝐞𝐭 is projected to grow at a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟒.𝟏% from 2023 to 2033, expanding its market value from 𝐔𝐒𝐃 𝟑.𝟏𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 in 2023 to an anticipated 𝐔𝐒𝐃 𝟒.𝟔𝟕 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 by 2033. This steady growth reflects heightened demand for convenient packaging, particularly in the food sector, as well as an increased focus on sustainability and resource efficiency in packaging materials.

With evolving consumer lifestyles, the demand for packaged food products has surged, driving growth in the plastic shrink wrap market across various industries. Plastic shrink wraps, especially those made from polyolefin, have become increasingly popular due to their recyclability and customizable design options, allowing companies to print detailed product information directly on the packaging.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐆𝐫𝐨𝐰𝐭𝐡 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 - 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐘𝐨𝐮𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐍𝐨𝐰 𝐚𝐧𝐝 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬!
https://www.futuremarketinsights.com/report-sample#5245502d47422d3135343430

The shift toward sustainable practices is also contributing to market growth, as biodegradable plastics offer an eco-friendly alternative to traditional materials. Plastic shrink wraps provide an economical and efficient packaging option, requiring less energy and resources in production compared to alternative materials.

Their ability to extend product shelf life and minimize waste adds further value, making them a preferred choice for businesses looking to optimize packaging efficiency and reduce environmental impact.

𝐊𝐞𝐲 𝐀𝐬𝐩𝐞𝐜𝐭𝐬 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐭𝐨 𝐏𝐥𝐚𝐬𝐭𝐢𝐜 𝐒𝐡𝐫𝐢𝐧𝐤 𝐖𝐫𝐚𝐩:

• Material Composition: Plastic shrink wrap is typically made from materials such as polyolefin or PVC (polyvinyl chloride). These materials provide durability, transparency, and flexibility.
• Shrinking Process: The shrink wrap application involves exposing the material to heat, causing it to shrink and conform tightly to the contours of the items it covers. This is often done using a heat gun or a shrink tunnel in industrial settings.
• Types of Shrink Wrap: There are different types of shrink wrap available, including centerfold shrink wrap, shrink bags, and shrink tubing. Each type is suitable for specific packaging applications.
• Applications: Plastic shrink wrap is used in various industries for packaging a wide range of products. Common applications include packaging individual items, creating multi-packs, bundling products together, and protecting items from dust, moisture, and tampering.
• Product Protection: Shrink wrap provides a protective barrier for products, safeguarding them from environmental elements, handling, and potential damage during transportation. It helps maintain the integrity and appearance of packaged goods.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬: 𝐏𝐥𝐚𝐬𝐭𝐢𝐜 𝐒𝐡𝐫𝐢𝐧𝐤 𝐖𝐫𝐚𝐩 𝐌𝐚𝐫𝐤𝐞𝐭

• The global plastic shrink wrap market recorded a CAGR of 2.9% during the historical period of 2018-2022.
• In 2022, the United States held a 13.8% share of the plastic shrink wrap market, while the entire North American region accounted for 23.6%.
• India's plastic shrink wrap market is projected to grow from USD 121.3 million in 2021 to an estimated USD 214.3 million by 2032.
• The Polyethylene Terephthalate Glycol (PETG) segment dominated the global market, representing 66.3% of the share in 2022.
• The shrink sleeves segment held a significant share, accounting for 41.1% of the market in 2022.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞

The plastic shrink wrap market is fragmented and extremely competitive due to the presence of various local and regional businesses. Key players are gaining a competitive advantage through a variety of marketing techniques, including mergers and acquisitions, new product development, expansions, and collaborations.

The majority of the top rivals in the plastic shrink wrap industry are turning to renewable and sustainable energy sources to create new goods. Furthermore, leading companies frequently use new product creation as a key tactic for expanding their market presence among customers. These efforts have resulted in the creation of durable and tear-resistant shrink wraps.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐥𝐚𝐬𝐭𝐢𝐜 𝐒𝐡𝐫𝐢𝐧𝐤 𝐖𝐫𝐚𝐩 𝐌𝐚𝐫𝐤𝐞𝐭

• Amcor plc
• International Plastics Inc.
• Intertape Polymer Group Inc.
• J K Polyfilm
• Coveris Holdings sa
• Clondalkin Group
• CeisaSemo
• Clondalkin Group
• RKW Group
• Berry Global Inc.
• PlastotecnicaSpA
• Clearpack group
• Baroda Packaging
• Brentwood Plastic, Inc.
• Aintree Plastics Limited
• Elite Plastics Ltd.
• Xinjiang Rival Tech Co. Ltd.
• Poly-Pack Verpackungs-GmbH & Co. KG

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐈𝐧-𝐃𝐞𝐩𝐭𝐡 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬-𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭!
https://www.futuremarketinsights.com/reports/plastic-shrink-wrap-market

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

• From March 2022, Coveris plant in Hungary started using 100% energy from renewable resources, including solar energy and biomass for a sustainable future.
• In June 2019, Amcor announced its acquisition of Bemis Company and it is going to operate as a combined firm called Amcor Plc.
• Coveris Holdings sa has introduced theDuralite R, a next-generation sustainable shrink wrap that is made out of maximum recycled material. The product also offers a lower carbon footprint compared to cardboard alternatives.
• Clondalkin Group has added new product line of shrink sleeves that work on long-lasting technology and delivers higher durability.

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝

𝐁𝐲 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥:

• Polyvinyl Chloride (PVC)
• Polyethylene Terephthalate Glycol (PETG)
• Oriented Polystyrene (OPS)

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:

• Neck Banding
• Shrink Sleeves
• Shrink Bundling
• Wrapping
• Others

𝐁𝐲 𝐏𝐚𝐭𝐭𝐞𝐫𝐧:

• Floral
• Abstract
• Geometric
• Striped
• Checkered
• Modern
• Paisley
• Character
• Solid
• Ornament
• Polka Dot

𝐊𝐞𝐲 𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

• North America
• Latin America
• Europe
• Japan
• Asia Pacific Excluding Japan
• The Middle East and Africa

𝐇𝐚𝐯𝐞 𝐚 𝐋𝐨𝐨𝐤 𝐚𝐭 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐏𝐚𝐜𝐤𝐚𝐠𝐢𝐧𝐠 𝐃𝐨𝐦𝐚𝐢𝐧:

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐏𝐄𝐓 𝐁𝐥𝐨𝐰 𝐌𝐨𝐥𝐝𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.futuremarketinsights.com/reports/pet-blow-moulder-market

𝐇𝐚𝐧𝐠 𝐓𝐚𝐠𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.futuremarketinsights.com/reports/hang-tag-market

𝐁𝐚𝐠-𝐨𝐧-𝐕𝐚𝐥𝐯𝐞 𝐋𝐚𝐦𝐢𝐧𝐚𝐭𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.futuremarketinsights.com/reports/bag-on-valve-laminates-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

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𝐀𝐛𝐨𝐮𝐭 𝐅𝐮𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 (𝐅𝐌𝐈)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.