Shrink films are made from polymer plastic film; plastic films are shrunk over the product to be packed with the application of heat through a handheld heat gun. Common plastic materials used in shrink films are polyolefin, polyvinyl chloride (PVC), PETG (PET), oriented polystyrene (OPS), and polylactic acid (PLA). It is used in the packaging of various beverages, electronic products, automotive products, medicines, paper, textiles, etc. During the forecast period, increasing demand from end-use industries is projected to propel the demand for shrink film.
Considering the economic overview of the market, Asia Pacific is expected to account for a major revenue share of the global shrink film market. In 2016, Asia Pacific accounted for more than 35% of the global shrink film market's revenue. This is attributed to strong growth in the manufacturing industry, especially in China, along with the high demand for shrink film in India and China. The market size and forecast for each application are presented for the period 2015–2025, along with their respective CAGRs% for the forecast period2017–20255.
The market size and forecast for the period 2015–2025, along with the CAGRs for the period 2017–2025 for the mentioned segments, are also presented in this study.
Qualitative information sets such as market dynamics (drivers, challenges, and opportunities) and market inclination insights are provided in this market assessment report. Tools such as competition assessment and attractive investment propositions are also included in this study for the assessment of the market competition. The report concludes with a section on company profiles that highlight key information about the major market players operating in the global shrink film market.
Key manufacturers in the global shrink film market include AEP Industries, Inc., Anchor Packaging, Inc., Bemis Company, Inc., Berry Global, Inc., Clysar, LLC, The Dow Chemical Company, Fuji Seal International, Inc., Intertape Polymer Group, Sealed Air Corporation, Sigma Plastics Group, and others.
Purpose of the Report
The purpose of this strategic research study titled "Shrink Film Market: Growth, Opportunities, Share, and Competitive Analysis, 2017–2025" is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global shrink film market.
1.1.1 Target Audience
Industry Investors
Manufacturers of Shrink Film
End User Industries
Traders, distributors, and suppliers
Government and Research Organizations
Associations and Industry Bodies
Based on material type, the shrink film market is categorized into the following segments:
Polyolefin
Polyvinyl chloride (PVC)
PETG (PET)
Oriented Polystyrene (OPS)
Polylactic Acid (PLA)
Shrink films are used in the packaging of a variety of products in the food and beverage industry, such as packaged and frozen food, juices, beers, carbonated soft drinks, and mineral water. Shrink films are also used in other industries for the packaging of electronic products, pharmaceutical products, paper and textile products, etc. In 2016, polyolefin material was observed to be the most dominant segment, accounting for more than 45% of the global shrink film market.
The segment is projected to grow at a higher CAGR and is expected to maintain its dominance over the forecast period. The growth of the segment is augmented by the increasing popularity of polyolefin materials such as low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), and polypropylene (PP) owing to their low cost.
Based on application, the shrink film market is categorized into the following segments:
Food & Beverages
Pharmaceuticals
Automotive & Industrial
Electronics
Others
The shrink film market is mainly witnessing growth owing to rising demand for product packaging and for the protection and bundling of goods during distribution and warehousing. In 2016, the food and beverage segment led the shrink film market by the application due to rising demand for the product for meat, vegetable, and fruit packaging. A positive outlook on the food and beverage industry in economies such as the Middle East, China, Russia, India, Brazil, and Mexico is another factor contributing to market growth.
This growth is attributed to the rise in consumption of food and beverages due to the rise in disposable income of the consumer, population growth, and the availability of products on various distribution channels. The increasing use of shrink films in the packaging of beverages and food products is projected to drive the demand for shrink films in the food and beverage industry during the forecast period.
On the basis of geographical distribution, the global shrink film market is segmented into the following regional markets:
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia Pacific
Latin America
Brazil
Mexico
rest of Latin America
Middle East and Africa
GCC
Rest of the Middle East and Africa
In 2016, Asia Pacific was identified as the largest region, accounting for more than 35% of the global shrink film market revenue. The region is also anticipated to witness the highest growth in consumption of shrink films during the forecast period (2017–2025). This growth is attributed to the rising food and beverage and pharmaceutical industries in the region. China is the largest regional market for shrink film, supported by the dominant food and beverage industry.
India's spurring pharmaceutical and healthcare activity is projected to advance at a healthy rate, thus increasing the market demand for shrink film in the country. North America accounted for the third largest share of the market, yet is projected to progress at a moderate growth rate during the forecast period, driven by recoveries in manufacturing, building construction activity, and the automobile sector. Incumbent players in the global shrink film market are increasing their footprints in key developing regions such as Asia Pacific and Latin America by starting up new business units and research centers in the region.
Frequently Asked Questions:
The market for Shrink Films Market is expected to reach US$ 8,117.4 Mn By 2025.
The Shrink Films Market is expected to see significant CAGR growth over the coming years, at 5.5%.
The report is forecasted from 2017-2025.
The base year of this report is 2016.
AEP Industries, Inc., Anchor Packaging, Inc., Bemis Company, Inc., Berry Global, Inc., Clysar, LLC, The Dow Chemical Company, Fuji Seal International, Inc., Intertape Polymer Group, Sealed Air Corporation are some of the major players in the global market.
