NEWARK, Del., April 27, 2022 (GLOBE NEWSWIRE) -- The global stretch films market is projected to witness linear transition between 2022 and 2030 (CAGR of 4.7%), reaching US$ 3.7 Bn by the year 2030.
Rising demand for lightweight and environmentally sustainable materials for packaging is expected to propel growth in the stretch films market, finds Future Market Insights (FMI) in a new study. Stretch films are highly engineered stretchable films used in packaging applications due to their elasticity and pliability. They are used to provide superior packaging since they possess moisture and air resistance properties.
Increasing demand in ecommerce and food & beverages sector for bulk packaging is expected to drive the market growth. These films ensure strong and time saving packaging, making it a popular product in the market. Increasing caution regarding hygiene and concerns regarding the environment have increased demand for stretch films as they provide air tight packaging and can be recycled or incinerated following usage.
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Some of the key players in the stretch films market are Allen Plastic Industries Co. Ltd, Vishakha Polyfab, Four Star Plastics, Griff Paper and Film, CS Hyde Company, International Plastics Inc., Bagla Group of Companies
Key Takeaways from the Stretch Films Market Report
The stretch films market is expected to grow at a CAGR of 4.7% due to increasing demand for safe and efficient packaging
South Asia is expected to offer lucrative growth opportunities to the market applications of stretch films in the food and beverages industry continue to rise
Linear low density polyethylene (LLDPE) will remain the preferred polyethylene due to demand for damage resistant packaging during product transportation
Demand from the food and beverages industry is expected to grow due to increasing use of stretch films for strong and lightweight packaging
Market Growth to Amplify?
“Durable and Tear Resistant Flexible Packaging Formats to rule”
Flexible packaging is widely preferred due to being cost-effective, durable, and lightweight. Flexible packaging occupies smaller spaces during accommodation on shelves. Flexible packaging formats such as stretch films enhance the aesthetic appeal of the product and can augment product branding, added with durable packaging. Thus, an increasing inclination of product manufacturers towards the adoption of flexible packaging solutions over rigid packaging in primary packaging is observed.
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Who Is Winning?
Companies operating in the market are alternatives to increase sustainability. Innovations and advancements by leading players are intended to gain competitive advantage in the market.
Megaplast introduced ‘Fiber Stretch Films’ that contain 30% PCR content that enable recycling and are an eco-friendly choice.
Barbier Group’s Recyplast is integrated using 20% of real post-consumer waste. Their down gauged films display 15% cost reduction.
Key Segments Covered in Stretch Films Industry Research
Stretch Films Market by Material:
- Polyethylene (PE)
- High – DensityPolyethylene (HDPE)
- Low – DensityPolyethylene (LDPE)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
Stretch Films Market by Manufacturing Process:
- Cast Stretch Film
- Blown Stretch Film
Stretch Films Market by End-use:
- Constructions
- Food and Beverages
- Pharmaceutical
- Consumer Product
- Paper
- Textile
- Chemicals &Fertilizers
Stretch Films Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
TOC OF THE REPORT
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
4. Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
5. Global Stretch Films Market Demand Analysis 2015–2021 and Forecast, 2022–2030
5.1. Historical Market Volume (‘000 Tonnes) Analysis, 2015–2021
5.2. Current and Future Market Volume (‘000 Tonnes) Projections, 2022–2030
5.3. Y-o-Y Growth Trend Analysis
6. Global Stretch Films Market - Pricing Analysis
6.1. Regional Pricing Analysis
6.2. Pricing Break-up
6.3. Global Average Pricing Analysis Benchmark
TOC Continued…!
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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