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Shrink Plastic Film Market Estimated to Accumulate more than (Revenues ) by 2024
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The global shrink plastic film market is projected to grow at a significant CAGR as a demand of the shrink film is increasing from the rapidly growing food and beverages industry due to its various applicability to the industry. The inherent property of shrink plastic film to mold into various shapes and sizes for the purpose of packaging, storage, and transportation of edible items, which also to boost the demand of the shrink plastic film and growth of the global shrink plastic film market.
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However, the availability of the alternative materials to the plastic can be the major restraining factor to the growth of the global shrink plastic film market. The cost of the shrink plastic film and the instruments required for the same are expensive as compared to normal plastic film used for the packaging of the products which can hamper the demand for the shrink plastic film and growth of the global shrink plastic film market.
Nowadays, plastic is available in the biodegradable form, which has a tremendous demand due to awareness about the environmental issues and has become the trend of the global shrink plastic film market.
The global shrink plastic film market is segmented on the basis of the type, by application, on the basis of the form of the shrink plastic film and geographical region.
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Some of the key players of the global shrink plastic film market are AEP Industries, Bemis Co Inc., Berry Plastics, Sigma Plastics, FUJI Seal International Inc, Anchor Packaging, Berry Plastics, Polymer Group Inc, Dow Chemical Company and Intertape Polymer Group Inc. Various global companies are contributed decent growth to the global pre-stretch film market. The key players from Asia pacific region has contributed the major share to the shrink plastic film market in terms of value and volume.
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