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Shrink Film Market Future Prospects Details for Industry Forecast to 2026

According to a new market report published by Credence Research “Global Shrink Film Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global shrink film market is expected to reach over US$ 8,117.4 Mn by 2025, expanding at a CAGR of 5.5% from 2017 to 2025.

Browse the full Global Shrink Film Market by Material Type Polyolefin, Polyvinyl Chloride (PVC), PETG (PET), Oriented Polystyrene (OPS) and polylactic acid (PLA); by Application Food & Beverages, Pharmaceuticals, Automotive & Industrial, Electronics and others; by geography North America, Europe, Asia Pacific, Latin America and Middle East & Africa – Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at https://www.credenceresearch.com/report/shrink-films-market

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Market Insights

On the basis of material type, the global shrink film market is segmented into polyolefin, polyvinyl chloride (PVC), PETG (PET), oriented polystyrene (OPS), and polylactic acid (PLA). In 2016, polyolefin material is observed to be the most dominant segment accounting for more tahn 45% in global shrink films market. The segment is projected to grow at the higher CAGR and is expected to maintain its dominance over the forecast period.

On the basis of application, the shrink film market is categorized into food & beverages, pharmaceuticals, automotive & industrial, electronics and others. In 2016, food & beverage accounted for the largest share of global shrink film market. It accounted for more than 65% revenue share in the global shrink film market. Increasing use of shrink films in packaging of beverages and food products is projected to drive the demand for shrink films in food & beverages industry during the forecast period.

For the purpose of this study, the global shrink film market is categorized into regional markets viz., North America, Europe, Asia Pacific and Latin America and Middle East and Africa. In 2016, Asia Pacific was observed as the largest market for shrink film followed by Europe and North America. The overall growth of the Asia Pacific market will be above the global average during the forecast period. Asia Pacific is expected to achieve highest growth rate compared to other regions due to presence of countries such as China, India and Japan are observing significant industrial growth.

Global shrink film market is highly consolidated. Major players includes AEP Industries Inc., Berry Plastics Corporation, Bemis Company Inc., Sigma Plastics Group, Bollore Inc., Allied Global Plastics Pvt. Ltd., American Eagle Packaging, Bonset America Corporation, and Coveris Holdings Inc. accounting for over 55% market share of the global shrink film market. Existing players are facing intense competition from the small/ regional players as the market is highly price sensitive. The manufactures are investing in research and development to develop high quality, differentiated and cost effective products to increase their market penetration especially in key consuming economies.

Key Trends:

– High demand from end-use industries

– Growing popularity of shrink films owing to its light weight and low cost in varied application is anticipated to fuel the demand

– Price fluctuation is projected to hamper the growth global shrink films market

– Stringent regulations by various governments over the recycling and disposal of plastic waste

Based on application, the shrink film market is categorized into following segments:

  • Food & Beverages
  • Pharmaceuticals
  • Automotive & Industrial
  • Electronics
  • Others

Shrink Films Market

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, by application, food and beverages segment leads the shrink film market, due to rising demand for the product for meat, vegetable, and fruits packaging. Positive outlook on food and beverage industry, in economies such Middle East, China, Russia, India, Brazil and Mexico is another factor contributing towards the market growth. This growth is attributed to rise in consumption of food & beverages owing rise in disposable income of the consumer along with population growth and availability of products on various distribution channels. Increasing use of shrink films in packaging of beverages and food products is projected to drive the demand for shrink films in food & beverages industry during the forecast period.

On the basis of geographical distribution, the global shrink film market is segmented into 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 & Africa
    • GCC
    • Rest of Middle East and Africa

Shrink Films Market

In 2016, Asia Pacific was observed as the largest region contributing more than 35% revenue share in global shrink film market. The region is also anticipated to witness highest growth in consumption of shrink films during the forecast period (2017-2025). This growth is attributed to rising food and beverages, and pharmaceutical industries in the region. China is the largest regional market for shrink film supported by the dominant food and beverages 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 moderate growth rate during the forecast period driven by recoveries in manufacturing, building construction activity and 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…

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