Global Stretch Hood Films Market Set to Achieve a Billion Dollar Milestone with a Stellar Growth During 2017 - 2027

A 2.1x growth in revenue from 2017-2027 promised by stretch hood films in the global market

According to Future Market Insights, the global stretch hood films market is expected to exhibit significant growth during the 2017-2027 assessment period. The stretch hood films market witnessed a continuous growth path since past couple of years. As per the research, the global market for stretch hood films is valued at about US$ 600 Mn in 2017 and is estimated to grow to reach a valuation of around US$ 1.3 Bn by the end of 2027. The global stretch hood films market is projected to grow at a robust rate to reflect a value CAGR of 7.8% throughout the period of assessment, 2017-2027. This robust growth rate can be attributed to the rising automation in the packaging industry, faster packaging and other benefits associated with stretch hood films such as cost saving owing to thinner film and fire free palletization.

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Polyethylene segment to witness significant growth during the forecast period

The polyethylene segment by material dominated the global market with respect to high market value in 2017. This trend has been observed during the 2012-2016 period and is anticipated to continue in the coming years. This material type segment gained immense popularity as it imparts high strength to stretch hood films and its demand to be used in the manufacturing of stretch hood films grew on a large scale. In the coming years, the polyethylene material segment is expected to grow even further to slate a 2.2x growth in revenue by registering the highest CAGR of 8.0% throughout the period of forecast 2017-2027. This segment is estimated to represent a valuation of more than US$ 860 Mn by the end of 2027.

Ethylene vinyl acetate segment and plastomers, elastomers and others segment by material type are expected to show a similar growth rate with respect to value and volume during the forecast period. However, the ethylene vinyl acetate segment is expected to show a higher market value share than the plastomers, elastomers and others segment in the years to come.

LLDPE to contribute the largest to push the growth of the polyethylene segment

Polyethylene material segment is further categorized into LLDPE, LDPE and HDPE. The LLDPE sub category is expected to grow at the fastest rate throughout the forecast period. LDPE segment also shows same growth rate as LLDPE, however, falls short in terms of revenue generation. The LLDPE sub segment is estimated to show a market evaluation of around US$ 550 Mn with a robust 8.1% CAGR throughout the period of assessment. The HDPE sub segment is the smallest growing at a relatively low CAGR during the forecast period. HDPE sub segment witnessed a sinusoidal path with respect to volume, and on the contrary the LLDPE and LDPE sub segments have seen a consistent upward path in volume.

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Stretch hood films material market scenario in different regions

The stretch hood films material market has been soaring through the regions of North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, MEA and Latin America, with Western Europe favouring the material segment to a large extent. The polyethylene segment by material is expected to grow at a significant pace in Western Europe region and is anticipated to slate a higher market valuation as compared to other regions in the coming years. North America is the second largest regional market for polyethylene for stretch hood films in terms of value share followed by Asia Pacific excluding Japan (APEJ) region. Both these regions show significant potential for the growth of the stretch hood films market during the period of assessment. In Western Europe, the polyethylene segment is projected to grow at a 8.7% CAGR during the forecast period and estimated to reflect a market valuation a little under US$ 250 Mn by the end of 2027.

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