Stretch and Shrink Film Market: Snapshot
The global
stretch and shrink films market was valued at US$14.1 bn in 2015 and is
projected to reach US$21.1 bn by 2024. The sales revenue is expected to rise at
a CAGR of 5.2% during the forecast period, owing to the increased demand for
packaged foods and beverages. Over the last few years, the industry has
witnessed the emergence of multiple players operating globally. However,
Transparency Market Research has found that there is an increasing shift in
dynamics towards market consolidation.
TMR Predicts Limited
Growth for Stretch and Shrink Films in Food and Beverages Sector
By product
type, the stretch and shrink films market is led by shrink films and the
segment is estimated to be most preferred product type throughout the forecast
period owing to the rising applications of light-weight packaging films.
Browse the full Report: http://www.transparencymarketresearch.com/stretch-shrink-film-market.html
The
low density polyethylene (LDPE) material segment is the leading contributor to
the growth of stretch and shrink films market. However, it is projected to lose
significant market share to other materials such as PVC, linear low density
polyethylene (LLDPE), and polypropylene.
Based on end
use, the food and beverages sector leads the stretch and shrink films market
but is expected to lose market share by the end of the forecast period owing to
the mature nature of the industry when it comes to the use of stretch and
shrink films.
North America, Europe to Lose Market Share
to Asia Pacific by 2024
On the basis
of geography, the global stretch and shrink films market is segmented into
North America, Europe, Asia Pacific, Latin America, and the Middle East and
Africa (MEA).
Asia Pacific
is expected to lead the market throughout the forecast period and also register
the fastest growth. The stretch and shrink films markets in North America and
Europe are rather mature and are expected to lose a significant share of the
global market to Asia Pacific.
Asia Pacific offers new opportunities for
players engaged in manufacturing stretch and shrink films as the region has
been witnessing an increase in investments in the manufacturing sector, rapid
pace of urbanization, and rising disposal income. Key players operating in
developed stretch and shrink films markets such as North America and Europe are
focusing on APAC in order to multiply their revenue by optimally utilizing the
cheap resources available in India and several ASEAN countries.
Get more Information: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9809
Europe
is expected to witness sluggish growth over the forecast period. Nevertheless,
Germany and France are expected to continue contributing to the overall sales
of stretch and shrink films in the region. The presence of organized retail
outlets in the region is the key factor driving sales in Europe.
In MEA, the
sales of stretch and shrink films are expected to witness moderate growth
during the forecast period, with most of the demand stemming from GCC
countries.
Key
participants in the stretch and shrink film market include Anchor Packaging,
Berry Plastics, AEP Industries Inc., Bemis Company Inc., Dow Chemical Company,
E. I. du Pont de Nemours and Co (DuPont), FUJI Seal International Inc, and
Intertape Polymer Group Inc.
No comments:
Post a Comment