수축 필름 시장 : 용도별, 유형별, 재료별, 지역별(2024-2031년)

Shrink Films Maket Valuation - 2024-2031

The shrink film market's growth, the rise of e-commerce have made a significant contribution. Shrink films are frequently used by e-commerce enterprises due to their lightweight, cost-effectiveness, and ability to secure products during transportation. This minimizes damage while ensuring customer pleasure. The market size surpass USD 4.32 Billion valued in 2024 to reach a valuation of around USD 8.17 Billion by 2031.

Aside from e-commerce, there is a broader trend toward efficiency and cost-effectiveness in packaging across businesses. Shrink films provide an adaptable solution for a variety of applications, including food & beverage, logistics, and manufacturing. Their ability to conform closely to products, form tamper-evident seals, and enhance shelf life makes them a popular choice for organizations looking to improve their packaging procedures. The general increase in demand is expected to continue for the foreseeable future. The rising demand for cost-effective and efficient Shrink Films is enabling the market grow at aCAGR of 8.29% from 2024 to 2031.

Shrink Films Market: Definition/ Overview

Shrink films are plastic polymers that shrink tightly around whatever they are covering when heated. These films, usually made of polyethylene or polypropylene, are intended to adhere to the contour of the object they are covering, resulting in a snug and frequently transparent seal. They are commonly utilized in packaging applications where a tight, protective covering is required. Shrink films are available in a variety of thicknesses and strengths depending on the purpose, ranging from industrial pallet wrapping to retail packaging for consumer items.

In the food and beverage industry, they are used to secure individual goods such as bottles, cans, and food products from outside factors and maintain product integrity. Shrink films are used in production and distribution to package products for simpler handling and transportation, lowering the chance of damage during transit. In retail, shrink-wrapped products are frequently more enticing to customers due to their tidy appearance and tamper-resistant sealing.

Shrink films' prospects look bright, because of continual advances in material science and technology. There is a rising emphasis on sustainable packaging options, spurring the creation of eco-friendly shrink films with little environmental impact. Nanotechnology advancements are projected to improve the qualities of shrink films, making them stronger, thinner, and more adaptable.

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Will Growing E-commerce Sector Drive the Shrink Films Market?

In the shrink film market, the expanding e-commerce sector is likely to fuel substantial growth. The growing expansion of e-commerce is driving up the demand for shrink films in packing and shipping. According to the US Census Bureau, e-commerce sales in the United States will reach USD 870.8 Billion in 2021, a 14.2% increase over the previous year. This rise is increasing the demand for secure and tamper-resistant packaging solutions, with shrink films playing an important role in preserving products during transportation and improving their presentation to consumers.

The food and beverage industry makes extensive use of shrink films for packaging and preservation, motivated by the need to fulfill rising worldwide food consumption. The Food and Agriculture Organization (FAO) estimates that worldwide food production will need to expand by 70% by 2050 to meet population growth and shifting dietary trends. This projection emphasizes the importance of effective packaging options, such as shrink films, in maintaining food quality, reducing waste, and increasing shelf life. As the food industry expands to meet these expectations, shrink films will become increasingly important in guaranteeing food safety and sustainability across the supply chain.

How will Fluctuations in Raw Material Costs Impact the Growth of the Shrink Films Market?

Raw material cost fluctuations might affect the shrink film market's growth. Due to shrink films being mostly constructed of petrochemical-derived polymers such as polyethylene and polypropylene, fluctuations in oil prices have a direct impact on the pricing of these products. Higher raw material costs might reduce profit margins for shrink-makers and distributors, potentially resulting in higher costs for end users. This circumstance may also push industry players to seek out more cost-effective materials or to invest in technologies that optimize material utilization and manufacturing processes.

Technical limitations can have an impact on the growth of the shrink film market. Challenges like as the ability to shrink uniformly across different product shapes and sizes, limitations in heat application methods, and environmental concerns about recycling and disposal can all impede mainstream use. To address these limitations, continual innovation in material science and production techniques are required to increase shrink film performance, sustainability, and cost effectiveness. Overcoming these technological limitations will be essential for realizing shrink films' full potential across a wide range of packaging applications and long-term industry growth.

Category-Wise Acumens

How High Packaging Demand Raises the Food & Beverages for the Shrink Films Market?

The food and beverage industry is currently leading the shrink film market. High packaging demand will propel the shrink film market. As the food and beverage, pharmaceutical, and e-commerce industries grow, so does the demand for effective, protective, and visually appealing packaging solutions. Shrink films provide advantages such as tamper-evidence, product protection, and increase in shelf appeal, making them a popular choice in these industries. This increase in desire for innovative and dependable packaging solutions will, in turn, increase the shrink film market.

The adaptability of shrink films for various products will propel the market. Shrink films can be used to package a variety of things, including food and beverages, electronics, and medications, to ensure secure, tamper-evident, and visually beautiful packaging. Shrink films' adaptation in various shapes, sizes, and types of products makes them an appealing alternative for a wide range of sectors, driving demand and contributing to market growth.

Will Versatility and Balance Fuel the Medium Shrink Films (HSF) Market?

Medium shrink films (MSF) currently account for the largest proportion of the shrink films market. The adaptability and balance of medium shrink films (MSF) will drive their popularity in the shrink film market. MSF has a balanced combination of strength, clarity, and shrinkage qualities, making it suited for a wide range of packaging applications in industries like food and beverage, personal care, and consumer goods. Their ability to efficiently preserve and enhance the appearance of various products while remaining cost-effective makes MSF an appealing option for manufacturers, contributing to market growth.

The shrink films market will see increase in demand for medium shrink films (MSF) due to their cost-effectiveness. MSF provides a balanced performance at a lower cost than high-shrink films, making it an appealing option for sectors seeking efficient packaging solutions without reducing quality. This economic advantage, combined with their adaptability and excellent protective characteristics, makes MSF a popular choice for packaging a variety of products, driving market growth.

Country/Region-wise Acumens

Will the Expanding Food and Beverage Industry Enhance the Shrink Films Market?

The Asia-Pacific region currently holds the dominant position in the shrink films market. The growing food and beverage industry in Asia Pacific has a rapidly increasing demand for shrink films in food packaging. The Food and Agriculture Organization (FAO) predicts that by 2030, Asia will account for 53% of global food consumption. This expansion is evident in the packaging business, with the Asia Pacific food packaging market projected to reach $144.9 billion by 2025, according to Research and Markets.

The Asia Pacific region is experiencing substantial industrial growth, particularly in China and India. According to the Asian Development Bank (ADB), industrial value added in Asia increased by 6.9% in 2021, with China leading with an 8.3% increase. This increasing industrialization is driving demand for shrink films in a variety of applications, including product bundling and transportation packaging, as firms seek efficient and secure packaging solutions to support their expanding production operations.

Will Technological Advancements in Packaging Propel the Shrink Films Market in North America?

North America is experiencing the fastest growth in the shrink film market. The region is the leader in the use of complex packaging technologies, such as smart and active packaging. According to the Flexible Packaging Association, the flexible packaging sector in the United States will be worth $34.8 billion in 2021, with novel shrink film solutions accounting for a large percentage of that growth. This trend is pushing the development and implementation of high-performance shrink films across a variety of sectors, resulting in market growth in the area.

Environmental concerns and regulatory requirements are driving the North American shrink film market toward more sustainable alternatives. According to the US Environmental Protection Agency (EPA), plastics accounted for 18.5% of container and packaging waste in 2018.

As a result, many firms are developing reusable and biodegradable shrink films. According to the Plastics Industry Association, 94% of Americans now have access to plastic film recycling programs, promoting the use of recyclable shrink films and supporting the packaging industry's drive toward sustainability.

Competitive Landscape

The shrink films market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the shrink films market include:

• Avery Dennison Corporation
• Treofan GmbH
• Huhtamaki Oyj
• Winpak Ltd.
• Huhtamaki PPL
• Rajapack
• Mexalit
• National Plastic
• Sealed Air Corporation
• Dow Chemical Company
• Berry Global, Inc.
• UFLEX Ltd.
• Klockner Pentaplast Group
• Mitsubishi Chemical Holdings Corporation
• Reynolds Group Holdings Limited
• Transcendia, Inc.
• FUJI SEAL INTERNATIONAL, INC.
• PREMIUM PACKAGING S.R.L.
• Sigma Plastics Group
• Polypack, Inc.
• Bonset America Corporation

Latest Developments

• In March 2023, Reifenhauser Group, a major provider of stretch and shrink film solutions, was bought by Berry Global Group, Inc. This acquisition provided Berry Global Group with a solid presence in the stretch and shrink film market for food and beverage packaging.
• In January 2023, ExxonMobil Corporation and BASF SE announced a collaboration to create new stretch and shrink film solutions using recycled materials.
• In October 2022, Dow, Inc. and Henkel AG & Co. KGaA established a partnership to develop innovative stretch and shrink film coatings with improved barrier qualities.
• In June 2022, Dow, Inc. will buy DowDupont's Performance Materials business, which includes a prominent manufacturer of stretch and shrink films for industrial applications. Dow, Inc. gained a significant market share in stretch and shrink films for palletizing and packaging as a result of this acquisition.

TABLE OF CONTENTS

1 INTRODUCTION OF GLOBAL SHRINK FILMS MARKET

• 1.1 Introduction of the Market
• 1.2 Scope of Report
• 1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH

• 3.1 Data Mining
• 3.2 Validation
• 3.3 Primary Interviews
• 3.4 List of Data Sources

4 GLOBAL SHRINK FILMS MARKET OUTLOOK

• 4.1 Overview
• 4.2 Market Dynamics
  • 4.2.1 Drivers
  • 4.2.2 Restraints
  • 4.2.3 Opportunities
• 4.3 Porters Five Force Model
• 4.4 Value Chain Analysis

5 GLOBAL SHRINK FILMS MARKET, BY APPLICATION

• 5.1 Overview
• 5.2 Food & Beverages
• 5.3 Pharmaceuticals
• 5.4 Consumer Goods
• 5.5 Electronics
• 5.6 Pharmaceuticals
• 5.7 Industrial Packaging
• 5.8 Agriculture
• 5.9 Others

6 GLOBAL SHRINK FILMS MARKET, BY TYPE

• 6.1 Overview
• 6.2 Low Shrink Films (LSF)
• 6.3 Medium Shrink Films (MSF)
• 6.4 High Shrink Films (HSF)

7 GLOBAL SHRINK FILMS MARKET, BY MATERIAL

• 7.1 Overview
• 7.2 POF
• 7.3 PVC
• 7.4 PP/BOPP
• 7.5 LLDPE
• 7.6 PET
• 7.7 PE
• 7.8 Others

8 GLOBAL SHRINK FILMS MARKET, BY GEOGRAPHY

• 8.1 Overview
• 8.2 North America
  • 8.2.1 U.S.
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 U.K.
  • 8.3.3 France
  • 8.3.4 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 China
  • 8.4.2 Japan
  • 8.4.3 India
  • 8.4.4 Rest of Asia Pacific
• 8.5 Rest of the World
  • 8.5.1 Latin America
  • 8.5.2 Middle East & Africa

9 GLOBAL SHRINK FILMS MARKET COMPETITIVE LANDSCAPE

• 9.1 Overview
• 9.2 Company Market Ranking
• 9.3 Key Development Strategies

10 COMPANY PROFILES

• 10.1 Avery Dennison Corporation
  • 10.1.1 Overview
  • 10.1.2 Financial Performance
  • 10.1.3 Product Outlook
  • 10.1.4 Key Developments
• 10.2 Treofan GmbH
  • 10.2.1 Overview
  • 10.2.2 Financial Performance
  • 10.2.3 Product Outlook
  • 10.2.4 Key Developments
• 10.3 Huhtamaki Oyj
  • 9.3.1 Overview
  • 9.3.2 Financial Performance
  • 9.3.3 Product Outlook
  • 10.3.4 Key Developments
• 10.4 Winpak Ltd.
  • 10.4.1 Overview
  • 10.4.2 Financial Performance
  • 10.4.3 Product Outlook
  • 10.4.4 Key Developments
• 10.5 Huhtamaki PPL
  • 10.5.1 Overview
  • 10.5.2 Financial Performance
  • 10.5.3 Product Outlook
  • 10.5.4 Key Developments
• 10.6 Rajapack
  • 10.6.1 Overview
  • 10.6.2 Financial Performance
  • 10.6.3 Product Outlook
  • 10.6.4 Key Developments
• 10.7 Mexalit
  • 10.7.1 Overview
  • 10.7.2 Financial Performance
  • 10.7.3 Product Outlook
  • 10.7.4 Key Developments
• 10.8 National Plastic
  • 10.8.1 Overview
  • 10.8.2 Financial Performance
  • 10.8.3 Product Outlook
  • 10.8.4 Key Developments
• 10.9 Sealed Air Corporation
  • 10.9.1 Overview
  • 10.9.2 Financial Performance
  • 10.9.3 Product Outlook
  • 10.9.4 Key Developments
• 10.10 Dow Chemical Company
  • 10.10.1 Overview
  • 10.10.2 Financial Performance
  • 10.10.3 Product Outlook
  • 10.10.4 Key Developments

11 KEY DEVELOPMENTS

• 11.1 Product Launches/Developments
• 11.2 Mergers and Acquisitions
• 11.3 Business Expansions
• 11.4 Partnerships and Collaborations

12 Appendix

• 12.1 Related Research