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The market research analyst estimates the stretch and shrink film market to attain a CAGR of over 5% during the forecast period of 2016 to 2020. Much of this growth can be attributed to factors like the high efficiency of film manufacturing and layering, growing sales of retail items, and the increasing use of stretch and shrink hoods and beverage and pallet unitization wraps.
Rapid growth in the food and beverage (F&B) sector is the key driver for the growth of this market. This sector is predicted to be the major customer for plastic packaging and stretch and shrink films during the forecast period. Since products in this sector are fast moving, they need to be light and cheap to reduce the transportation cost and facilitate instant disposal. The inherent property of plastics to mold into various shapes and sizes for the consumption, storage, and transportation of edible items is expected to facilitate market growth during the forecast period.
Application-based segmentation of the stretch and shrink films market
In this market research report, analysts estimate the food packaging segment to lead the global market for stretch and shrink films during the forecast period. This segment is envisaged to account for a market share of more than 39% by 2020 and is closely followed by segments like industrial/bulk product packaging, material goods packaging, beverages packaging, and consumer product packaging segments. Factors like the healthy expansion of the industrial and manufacturing sectors and the recent increase in demand for product packaging are expected to account for this segment’s high market dominance during the forecast period.
Geographical segmentation of the stretch and shrink films market
Americas APAC EMEA
In terms of revenue contribution, the APAC region is predicted to lead the global market for stretch and shrink films during the forecast period. This region is expected to witness a growing demand for stretch and shrink films from the packaging and manufacturing industries, which leads to market growth during the forecast period.
The presence of many multinational, regional, and local vendors in this market results in intense competition during the forecast period. In this market, the local players offer innovative solutions at a price lower than the international players, which leads to price wars among the vendors. The international players in this market are expected to exhibit inorganic growth during the forecast period as their growth is heavily dependent on the acquisition of local players.
Other prominent vendors analyzed in this market research are Aakriti Packaging, Alliance Plastics, Allied Plastics (Mumbai, India), American Eagle Packaging, AmTopp, Baoding Enshi Pack, Bollore, Bonset America, COVERIS, Daman Polymers (India), Dow Chemical, Eurofilms Extrusion, Exxon Mobil Chemical, FlexSol Packaging, Genuine Package Venture, Groupe BARBIER, Hipac Packaging Solutions, Hood Packaging, Intertape Polymer, IPS Packaging, ITW Mima Packaging Systems, Just Shrink It, Kissner Group, Klockner, Pentaplast, LINPAC Group, LINXPAK, Luban Pack, LyondellBasell Industries, Makhija Polyfilms, Malpack, Manuli Stretch, McNeely Plastics, MG Packaging (India), MRI Flexible Packaging, Muller, Om Polymers, Omeirun Industry, P.V.Ran, Paragon Films, Pelican Poly & Pallets, Pep Cee Pack Industries, Polivouga, Sealed Air, Sigma Stretch Film, Silver Talent International, SmartShield Packaging, Taghleef Industries, U.S. Packaging & Wrapping, Vaibhav Plasto Printing and Packaging, Wrap & Vac, and W.W Grainger.
Key questions answered in the report
What are the key factors driving the growth of global stretch and shrink film market? What are the Key Market trends?impacting the growth of the global stretch and shrink film market? What are the various opportunities and threats faced by the global stretch and shrink film market? Trending factors influencing the market shares for Americas, APAC, and EMEA? Key outcome of the five forces analysis on the global stretch and shrink film market? Growth forecast of the global stretch and shrink film market until 2020?
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