Shrink Film Market Report

Shrink Film has emerged as an efficient packaging solution as it protects the product during shipment and retains the product quality. Rapidly expanding food industry across the globe is one of the significant reasons behind robust demand for Shrink Film packaging. Other key advantages associated with Shrink Films include affordability, protection, convenience, and versatility.

Growing Application of Shrink Films in Food Packaging to Incite Market Growth

Widespread application of Shrink Films in the packaging of food items and other consumer goods is one of the significant factors stimulating the market growth. Surge in the demand for food items, including fruits and vegetables, has increased the need for proper packaging, such as Shrink Film Packaging. Growing e-commerce sector and surge in the number of retail stores and quick service restaurants will create robust demand for Shrink Films in future. Additionally, technological developments and innovations are projected to positively impact the growth of the Shrink Film market.

Manufacturers to Undertake Innovations and Novel Product Launches

SABIC, AEP Industries, DoW Chemical, Bemis Company, Clysar LLC, Intertape Polymer, Fuji Seal, Sealed Air, Anchor Packaging, Sigma Plastics, Berry Plastic, LyondellBasell Industries Holdings, and SYFAN USA are some of the key manufacturers operating in the global Shrink Film market.

For instance, DoW Chemical has launched a new plastic resin, called AGILITY CE, which is made with 70 % recycled plastic. This new resin is designed for application in collation shrink films as a secondary packaging for the shipping of bottles and cans. Other strategic initiatives considered by the manufacturers to sustain market hold are expansion of the product portfolio and widening distribution network to raise the sales of the product.

Market Segmentation

By Material Type

●  Polyvinyl Chloride (PVC) Shrink Film

●  Polyolefin

● PET Shrink Film

● Oriented Polystyrene Shrink Film

● Polylactic Acid Shrink Film

By Application

●  Food & Beverages

●  Pharmaceutical

●  Automotive Products

●  Industrial Products

●  Electronics

Various materials are used to manufacture Shrink Films. However, usage of polyolefin is gaining traction as a key material type in the manufacturing of Shrink Films as it is print friendly and recyclable in nature. Application of Shrink Film is likely to witness an upsurge in the food and beverages sector as the demand for packaged fresh and frozen food products like fruits, vegetables, and meat is on the rise, which is eventually raising the adoption of Shrink Films.

By Region

Strong presence of consumer goods manufacturers is generating demand for Shrink Films in North America. Asia Pacific is also not falling back. The region likely to emerge as a lucrative regional market in the coming years on the back of surge in the demand for Shrink Film products across various end-use industries, particularly food and beverages. Significant contribution from countries like China and India could support the Shrink Film market growth in APAC.

The chemicals and materials sector has been witnessing an exponential rise in the past few years. The industrial boom and infrastructural growth across the globe has had a positive impact on the chemical and materials industry. Chemicals are an integral part of many industries, which, over the years, have created lucrative opportunities for players. Similarly, materials are an indispensable part of myriad industries. The rise of the chemicals and materials sector has been mapped by QYR Consulting through exhaustive research reports.

Analysts have used investigative approach to deduce important elements pertinent to the industry. The reports are aimed towards giving the reader a holistic approach about the industry’s development and future scenario. Competitive landscapes have been written with in-depth analysis of the historical data and careful understanding of the management styles. QYR Consulting aims to provide the readers a guided approach towards making well-informed business decisions through its research reports.