Overview

Shrink Wrap Packaging Market Introduction:

Shrink wrap packaging market estimated to register a CAGR of over 5.1% during the forecast period 2020 to 2027.

Shrink packaging is used to combine small products and package them together as a way to increase durability. The process involves making bundles of commodities to provide protection against routine wear and tear. The chances of damage through exposure to moisture or water is greatly reduced by this method. This packaging works best for small items, making bundles of the same to enable seamless transportation. Heat plays a very important role in the market process. The two major steps involved in the shrink wrap packaging process requires a heat machine and shrink wrap thereafter. Shrink is a category of polymer plastic wrap, comprising of polyethylene, polyvinyl chloride (PVC) and polyolefin. The material which is highly consumed in shrink wrap is polyolefin. These wraps also commonly called as films, vary according to visibility, tenacity, shrinking capacity and sturdiness and can be used accordingly serving various purposes. The process of shrink packaging is enclosing and securing the item or bundles with the film or wrap with the help of a heat gun or heat tunnel.

Shrink wrap packaging acts as a protective barrier during transit and used to retain product qualities. It is a cost-effective method unitization of products and is intended to increase the shelf life of products. It is proven effective in maintaining product integrity and stability. It increases the versatility of the labelling and increasing applicability in various domains. It has a huge application in pharmaceuticals and food sectors which led to the robust growth of the market. It also offers high flexibility and can retain any shape during the packaging process and used as primary packaging for finished goods. Increasing utilization created a huge demand for a continuous supply of shrink wrap in the consumer market. Due to increasing demand, the market witnessed rapid expansion in terms of manufacturing and no of players. All these factors led to the robust growth of the market.

North America market is a major shareholder in the global market due to high penetration among end-user segment. Europe is the second major stakeholder of the market due to high applicability in packing finished products. The Asia Pacific and Latin America regions created to potential opportunistic space for manufacturers due to increasing adoption. They are expected to witness the highest growth rate in the global market. Rest of the world is expected to account a significant share due to increasing adoption.

Shrink Wrap Packaging market players include:

LyondellBasell Industries N.V., Bonset America Corporation, Dow Chemicals, Bemis Company, Inc., Linpac Senior Holdings Limited, and others

Shrink Wrap Packaging Market Segmentation:

By Product Type

Hoods
Labels & Sleeves
Wraps

By Material

LLDPE
LDPE
PVC

By Region

North America
Latin America
Europe
Asia Pacific
Rest of the World

Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants

FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global Shrink Wrap Packaging Market by Product Type, by Material, and by Region

• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies