Stretch films are stretchable and continuous thin film, which are mainly stretched and wrapped around a bundle of items to protect them from the external environment as well as unitize for storage, handling and shipping. Stretch film are highly engineered wrapping films and has emerged as a vital packaging solution. Unlike shrink films, no external heat is used for application of stretch films & this process is carried out using only two stages which are wrapping and sealing. Manufacturers usually prefer plastic materials such as polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC) for the production of stretch films. Stretch films durable and tear-resistant thus adding to the safety of the package products. Stretch films are preliminarily used in bulk load packaging comprising from the end user industry such as food & beverages, consumer products, pharmaceuticals, etc.
Global Stretch Films Packaging Market: Drivers & Restraints
Rapid growth in food and beverage (F&B) sector coupled inclination towards lightweight, safe and cost efficient logistic packaging solution has emerged as the key driver of the growth in global stretch film packaging market. Also, Manufacturers across various product segments prefer stretch films packaging as equipment required for installation of stretch films are simple and less expensive. Storage and distribution markets as a result of an increase in retail trade, imports-exports among the regions also add to the growth of global stretch films packaging market. However, As compared to shrink film, stretch films are less moisture resistant thus provide less climatic protection. Also, biodegradability has risen as environmental challenges thus obstructing the growth of stretch film market to a larger extent. Thus, governments of various countries have started to promote bio-based materials which have emerged as an opportunity for market players to develop biodegradable stretch film.
Global Stretch Films Packaging Market: Segmentation
The global stretch films packaging market is segmented as follows
On the basis of material type, the stretch films packaging market is segmented into:
- Linear Low Density Polyethylene (LLDPE)
- Low Density Polyethylene (LDPE)
- Polyvinyl chloride (PVC)
- Polypropylene (PP)
On the basis of applications, the stretch films packaging market is segmented into:
- Food & Beverages packaging
- Pharmaceuticals packaging
- Consumer product packaging
- Industrial/bulk product packaging
Global Stretch Films Packaging Market: Segmentation Overview
Stretch films packaging is in great demand for bulk packaging as well as in retail packaging. Based on the material type, Low-density polyethylene (LDPE) stretch film resins are expected to dominate the stretch films packaging market over the forecast period.
Global Stretch Films Packaging Market: Regional Overview
Geographically, the stretch films packaging market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
The stretch films packaging market in North America along with Europe have relatively attended the maturity level and are thus expected to lose a sizable share of the global films packaging market to Asia Pacific. Key market players that operate in developed stretch films packaging markets of Europe and North America are eyeing Asia-Pacific markets to grow in revenue by making use the resources available in India and other ASEAN countries at an economical rate. The Asia-Pacific market is likely to grow as the most lucrative marketplace for the growth of stretch films packaging. As a result of the rise in disposal income with increasing urbanization coupled with an increase in production of food & beverages, consumer products, etc., the Asia-Pacific region is estimated to witness a healthy growth in stretch films packaging market over the forecast period. Latin America and Middle-East & Africa region are expected to show a positive rate of growth over the forecast period owing to rising demand from the manufacturing sector. Overall, the global stretch films packaging market is estimated to witness a healthy CAGR over the forecast period.
Global Stretch Films Packaging Market: Key Players
Some of the key players that operate in the stretch films packaging market across the globe are Bemis Company, Inc., AEP Industries Inc., Amcor Limited, , Sigma Plastics Group, Inc., Coveris Holdings S.A., Grafix Arts., DongGuan HuaYu Packing co., Ltd., Berry Global, Inc. and Clondalkin Group Holdings BV.
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