Global Shrink Plastic Film Market Size and Share to Surpass $3.3 Billion by 2030, At a 4.2% CAGR in Chemical and Materials Field

Houston, TX, Jan. 10, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Shrink Plastic Film Market By Type (Printed And Unprinted), By Form (Flat Roll-Stock, Center-Folded Film, And Pre-Formed Plastics Shrink Bags), By Application (Buildings, Product Packaging, Food & Beverages Packaging, Industrial Packaging, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.

“According to the latest research study, the demand of global Shrink Plastic Film Market size & share in terms of revenue was valued at USD 2.3 billion in 2021 and it is expected to surpass around USD 3.3 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 4.2% during the forecast period 2022 to 2030.”

What is Shrink Plastic Film? How big is the Shrink Plastic Film Industry?

Shrink Plastic Film Market Coverage & Overview:

Shrink plastic film is created using polymer plastic film. After being inserted into the piece, the plastic is covered with heat from the heat gun, which causes the plastic to tightly compress around the object. Plastic shrink film is widely used to wrap food, boxes, and bottles. Shrink plastic film is produced using a range of polymers, including polyolefin, polyvinyl chloride, polyethylene, and polypropylene. The polyolefin plastic film is chosen over shrink plastic film made from other materials for covering and packing because of its chemical and physical characteristics, including availability, range of thickness, clarities, strengths, and shrink ratio. A tamper-proof, form-fitting container is produced by compressing polyvinyl chloride or polypropylene film uniformly and strongly around a product.

Shrink plastic film, also known as shrink wrap, is a type of plastic that is heated in order to shrink and conform to the shape of the object it is covering. It is commonly used in a variety of industrial and commercial applications, including building insulation.

Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs - https://www.zionmarketresearch.com/sample/shrink-plastic-film-market

(A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the Following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
• The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
• About 277+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on Request
• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
• Includes Tables and figures have been updated
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
• Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Shrink Plastic Film Market: Growth Dynamics

One of the major factors driving the growth of the global shrink plastic film market is the fast-proliferating food processing industry all across the globe. The significant hype in the demand for vegetables, fruits, and other packaged food is likely to boost the growth of the global market significantly during the forecast period.

The constant replacement of conventional food packaging material with shrink films attributes significantly to its growing demand in the global market. Moreover, the inherent properties of these films to mold into the required shapes & sizes for storage, transportation, and packaging purposes of edible items will bolster the growth of the global shrink plastic film market during the forecast period. The emergence of a biodegradable form of plastic has tremendously propelled the demand for these shrink films all across the globe. However, the availability of substitute act as a major challenge for the market growth over the forecast period.

Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/shrink-plastic-film-market

Report Scope

Shrink Plastic Film Market: Segmentation Analysis

Based on form, the market is segmented into flat roll-stock, center-folded film, and pre-formed plastic shrink bags. The pre-formed plastics shrink bags segment is expected to grow at the highest CAGR during the forecast period. Pre-formed plastic shrink bags are open-ended plastic bags made of polyvinyl chloride, polyethylene, and polyolefin. Increasing demand for these bags in the packaging of small items including groceries, food, and beverages is expected to propel market expansion in the coming years. Sales of pre-formed plastic shrink bags have primarily come from RTDs, or ready-to-drink/eat beverages. RTD sales have climbed from 7% in 2019 to 11% in the first half of 2021, demonstrating their resilience to expansion.

Based on the application, the market is divided into buildings, product packaging, food & beverages packaging, industrial packaging, and others. The industrial packaging segment is expected to grow significantly over the forecast period. Growing demand for shrink films in the packaging of industrial goods is projected to support market expansion. Shrink films are used in the production of metal, cement, wood, and other industrial goods. They are used for the shipping and transportation of the aforementioned commodities. Shrink film convenience and waste reduction are two variables that are anticipated to positively affect growth over the forecasted period. The production and consumption of 4.3 GT of cement on a global scale in 2020 illustrates the extreme robustness of shrink plastic films.

In building insulation, shrink wrap is typically used as a vapor barrier and air seal on the exterior of buildings. It is often used in combination with other insulation materials, such as foam insulation or fiberglass batts, to create a complete insulation system. When applied correctly, shrink wrap creates a tight, air-sealed barrier that can help prevent drafts and keep the building warm in the winter and cool in the summer.

The process of applying shrink wrap to a building typically involves covering the exterior walls with the shrink wrap, then heating it with a heat gun or other heating device to shrink it tight against the building's surface. This creates a tight seal that helps to prevent air infiltration, which can greatly reduce heating and cooling costs.

It is important to note that shrink wrap is a temporary insulation solution, it can be used for the initial stages of construction and for encapsulation during renovations but should not be used as a permanent insulation solution. Additionally, the installation process can be dangerous if proper precautions are not taken, such as wearing appropriate personal protective equipment and working from a ladder or scaffold, under the supervision of a professional.

There are other alternative solutions which can be permanent and efficient in insulation like spray foam insulation and cellulose insulation.

Get Infographics: https://www.zionmarketresearch.com/content/uploadedimages/global-shrink-plastic-film-market.png

The global Shrink Plastic Film market is segmented as follows:

By Type

• Printed
• Unprinted

By Form

• Flat Roll-stock
• Center-folded Film
• Pre-formed Plastics Shrink Bags

By Application

• Buildings
• Product Packaging
• Food & Beverages Packaging
• Industrial Packaging
• Others

Browse the full “Shrink Plastic Film Market By Type (Printed And Unprinted), By Form (Flat Roll-Stock, Center-Folded Film, And Pre-Formed Plastics Shrink Bags), By Application (Buildings, Product Packaging, Food & Beverages Packaging, Industrial Packaging, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” Report at https://www.zionmarketresearch.com/report/shrink-plastic-film-market

Competitive Landscape

Some of the main competitors dominating the global Shrink Plastic Film market include - 

• RKW SE
• Sealed Air
• Plastotecnica Spa
• Clondalkin Group Holdings Bv
• Ceisa Packaging Sas
• Vishakha Polyfab Pvt Ltd
• Coveris Holdings S.A.
• Bemis Company Inc
• Amcor Limited
• Berry Plastics Corporation 
• Aep Industries Inc.

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global shrink plastic film market is estimated to grow annually at a CAGR of around 4.2% over the forecast period (2022-2028).
• In terms of revenue, the global shrink plastic film market size was valued at around USD 2.3 billion in 2021 and is projected to reach USD 3.3 billion, by 2030.
• The constant replacement of conventional food packaging material with shrink films attributes significantly to its growing demand in the global market.
• Based on the form, the flat roll-stock segment held the largest market share in 2021.
• Based on the application, the food & beverages segment accounted for the largest revenue share in 2021.
• Based on region, the Asia Pacific is expected to hold the largest market share during the forecast period.

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/shrink-plastic-film-market

Key questions answered in this report:

• What is the market size and growth rate forecast for Shrink Plastic Film industry?
• What are the main driving factors propelling the Shrink Plastic Film Market forward?
• What are the leading companies in the Shrink Plastic Film Industry?
• What segments does the Shrink Plastic Film Market cover?
• How can I receive a free copy of the Shrink Plastic Film Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Form, By Application And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Request for Customization on this Report as per your requirements - https://www.zionmarketresearch.com/custom/6026

(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

Regional Analysis:

Among the regions, the Asia Pacific accounts for the largest share in the global shrink plastic film market owing to the fast proliferating food and beverage industry, particularly in growing economies like India and China. The growing demand for packaged food along with the increasing disposable income of the people in the region further boosts the growth of the regional market. Besides, Europe is anticipated to witness huge growth during the forecast period due to the growing rules and regulations from the government regarding the utilization of plastic in the food industry. Moreover, the manufacturers are focusing on developing advanced products to qualify for mandate standards and thus contributing significantly to the growth of the regional market.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In February 2021, a memorandum of understanding (MoU) was signed by Dow and Lucro Plastecycle, an Indian recycling business, to jointly develop and commercialize polyethylene (PE) film solutions derived from post-consumer recycled (PCR) plastics in India. This collaboration broadens Dow's circularity portfolio in the Asia Pacific region while bringing a closed-loop packaging solution to India to support the growth of a circular economy.
• In June 2019, medium shrink and low shrink force PET films were introduced by Indian film manufacturer Garware Polyester. For HDPE and LLDPE containers where a strong shrink force is not available to shrink the films over the container, low shrink films are produced. The films would have a thickness of 40–45–50 microns, and customers wouldn't need to make any special adjustments. The business has also been preparing to launch a distribution hub in North America.

To know an additional revised 2022 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/shrink-plastic-film-market

Browse Other Related Research Reports from Zion Market Research:

Resin Capsule Market Size & Growth: https://www.zionmarketresearch.com/report/resin-capsules-market

Polypropylene Fiber Market Size & Growth: https://www.zionmarketresearch.com/report/polypropylene-fiber-market

Monochloroacetic Acid Market Size & Growth: https://www.zionmarketresearch.com/report/monochloroacetic-acid-market

Plastomer Market Size & Growth: https://www.zionmarketresearch.com/report/plastomer-market

Beverage Acidulants Market Size & Growth: https://www.zionmarketresearch.com/report/beverage-acidulants-market

CBD Skin Care Market Size & Growth: https://www.zionmarketresearch.com/report/cbd-skin-care-market

About Zion Market Research:

Zion Market Research is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Zion Market Research are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Follow Us on LinkedIn: https://www.linkedin.com/company/zion-market-research/

Follow Us on Twitter: https://twitter.com/zion_research

Follow Us on Facebook: https://www.facebook.com/zionmarketresearch

Follow Us on Pinterest: https://www.pinterest.com/zionmarketresearch/

Contact Us:

Rushikesh Dorge

USA: +1 347 690-0211

United Kingdom: +44 2032 894158

Japan: +81 50 5806 9039

India: +91 73877 19999

Web: https://www.zionmarketresearch.com/

Blog: https://zmrblog.com/

Still, Looking for More Information? OR Want Data for Inclusion in Magazine, Case Study, or Media?

Email Directly Here with Detail Information: sales@zionmarketresearch.com