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Polyolefin (POF) is a collaborative term used to denote plastics such as polyethylene (LDPE, LLDPE, and HDPE) and polypropylene. Polyolefin is chemically inert; hence, it is ideal for packaging applications, especially food and beverages. POF shrink film is a highly durable and versatile food packaging material. POF has replaced polyvinyl chloride (PVC) in various packaging applications due to its eco-friendly characteristics, clarity, and high-tensile strength. High strength of POF shrink films offers longer film rolls with thin gauges, which provide less need for change over and increased productivity. POF also exhibits excellent puncture resistance, seal strength, and allows packaging of irregular shapes. POF shrink films are available with cross-link technology, which provides ease of packaging in high speed applications such as software, CDs, DVDs, and labels without compromising on clarity and strength.

Increase in food safety concerns across the world has boosted the usage of POF shrink films, as they are approved by the Food and Drug Administration (FDA) and United States Department of Agriculture (USDA) to be used in direct contact with food items. POF shrink films do not contain toxics and odor. They are cheaper than other substitutes such as carton and wrapping paper. Thus, POF shrink films help reduce the overall packaging cost by 50%. Ease of processing through the automatic shrink wrapping machine reduces the time of packing process. Printability of POF shrink films helps manufacturers label the product; hence, these films are the preferred packaging materials over other substitutes.

The POF shrink film market can be segmented based on type, application, and region. POF films are available in ordinary and cross-linked variation. Cross-linked POF shrink film is anticipated to account for major share of the POF shrink film market during the forecast period. Cross-linked POF are preferred over other packaging materials, as they offer superior properties such as ultra-light gauge, minimal shrink force, excellent machinability, superior clarity, and strong seal along with low cost of packaging.

Prominent applications of POF shrink film include food (fresh and processed), consumer goods, personal care & cosmetics, printing & stationary, and others (multimedia, software, hardware, pharmaceutical, gifts, toys, soaps, sports equipment, and home care). The food application segment constitutes key share of the market, led by the rise in trend of using packaged and frozen food across the globe. Food manufacturers prefer to display food items. POF shrink films provide excellent option for transparent and safe packaging of food items. Furthermore, the FDA and USDA compliance of POF shrink films as approved food grade materials is boosting the food segment.

In terms of geography, Asia Pacific is anticipated to lead the global POF shrink film market owing to the expansion in the food & beverages industry in the region. Increase in import and export activities and rise in demand for low weight packaging materials in emerging economies such as China and India are expected to drive the POF shrink film market in the region during the forecast period. Asia Pacific is anticipated to attract manufacturers for investment and strategic collaborations due to the cheap labor, easy availability of raw materials, and growth in end-use segments. Furthermore, PVC is banned in various countries in Europe. This is likely to impact the consumption of POF shrink films in the region. The POF shrink film market in developed economies such as the U.S., Australia, South Korea, France, and Germany is estimated to expand at a moderate pace during the forecast period.

The POF shrink film market is fragmented. It comprises various global players and local players. Thus, the market is considered to be highly competitive. Innovation, new product launch, and merger & acquisitions are likely to be the preferred business strategies of companies. Collaboration of local players with global companies may be beneficial for market growth in terms of quality upgrade and expansion of geographical reach.

Key players operating in the POF shrink film market include Sealed Air Corporation (the U.S.), Asmaco Packaging Industries (India), PakMarkas, UAB (Lithuania), Syfan USA Corporation (the U.S.), and Intertape Polymer Group (Canada).

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

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

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Polyolefin Shrink Film Market