Major stretch film manufacturers leverage applications in essential goods sectors including food & beverage and pharmaceuticals to sustain sales during the coronavirus crisis.
The stretch films market is expected to display a moderate 4.6% CAGR throughout the projection period between the years 2018 and 2028. The coronavirus pandemic has had a significant impact on the manufacturing sector, including plastic production and processing operations, critical for stretch films. However, extensive packaging applications in myriad verticals such as pharma, consumer electronics, and food & beverages among others will help reduce losses, and aid a faster recovery, post pandemic.
“Stretch films are being viewed as a viable option food packaging applications, owing to low cost, superior high barrier characteristics, compatibility with printing inks, high durability and low weight. These factors will contribute to increasing adoption for beverage and convenience food applications for the foreseeable future,” says the FMI analyst.
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Stretch Films Market – Key Takeaways
- LLDPE stretch films are projected to display high growth owing to extensive applications in the e-commerce sector.
- Sleeve-based stretch films are rapidly gaining demand with beverage pouch and multipack packaging options gaining ground.
- Asia Pacific is a leading market for stretch films, largely supported by the rapid expansion of the processed foods industry in countries like India and China.
Stretch Films Market – Driving Factors
- Growing popularity of stretch films as alternatives to conventional board, paper, and metal packaging drives adoption.
- Innovations in multilayer and polymer blend materials for stretch film products is bolstering functionality and aiding market growth.
Stretch Film Market – Key Constraints
- Environmental concerns associated with emission and waste generation from stretch film materials is a key obstacle to market growth.
- Volatility in the prices of crude oil based raw materials will hinder growth of the stretch films market.
The Anticipated Impact of Coronavirus
The coronavirus outbreak has resulted in the suspension of stretch films production in many parts of the world, owing to extensive lockdown measures set up to contain the virus. In addition, the pandemic has also severely impacted the crude oil market, which is also negatively influencing the stretch films industry. However, extensive applications in essential verticals of healthcare, food, and logistics will support sales and adoption through the crisis period.
Explore the global stretch films market report with 128 illustrative figures, 38 data tables and the table of contents. You can also find market segmentation on https://www.futuremarketinsights.com/ask-question/rep-gb-7387
Competition Landscape
Major manufacturers in the stretch films market include but are not limited to Paragon Films Inc., Polymer group Inc., POLIFILM GmbH, Berry Global Group, Coveris Inc., Intertape Polymer Group, Anchor Packaging Inc., AEP Industries Inc., Sigma Stretch Film Corp., Smurfit Kappa Group and Scientex Berhad.
Manufacturers are increasingly displaying interest in sustainability initiatives to keep up with consumer biases and expanding product portfolios through new, eco-friendly, product launches and recycling facilities.
For example, stretch film manufacturer Thong Guan is collaborating with Dow to launch a new range of bio-based polyethylene, sourced from renewable feedstock for consumers in the Asia Pacific. Similarly, stretch film DOXA Plast is pushing to commercialize a range of sustainable polyethylene based high performance stretch films, sourced from paper waste feedstock. Further, Berry Global has entered into a deal with Georgia Pacific to recycle PE stretch film to generate new products.
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More About the Report
The FMI’s market research report offers detailed insights on stretch films market. The market is scrutinized on the basis of material (polyethylene, polypropylene, and polyvinyl chloride), product (hand stretch film, machine stretch film, and specialty stretch film), manufacturing (cast stretch film and blown stretch film) and end use (food & beverage, pharmaceutical, personal care, electronics, paper & textiles, and others) across seven key regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa).
Table Of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
3. Market Viewpoint
3.1. Parent/Associated Market Overview
3.1.1. Packaging Market Outlook
3.1.2. Flexible Packaging Market Outlook
3.2. Porter’s Five Forces Analysis for Stretch Film Market
3.3. Co-Relation Analysis for Stretch Film Market
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Market Trends
3.5. Opportunity Analysis
4. Global Stretch Film Market Analysis
4.1. Market Volume Projection
4.2. Market Size and Y-o-Y Growth
4.3. Absolute $ Opportunity
5. Global Stretch Film Market Analysis By Region
5.1. Introduction
5.2. Historical Market Size (US$ Mn) and Volume (Tons) Analysis 2012-2016 By Region
5.2.1. North America
5.2.2. Latin America
5.2.3. Western Europe
5.2.4. Eastern Europe
5.2.5. Asia Pacific Excl. Japan (APEJ)
5.2.6. Middle East & Africa
5.2.7. Japan
5.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast 2017-2027 By Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Western Europe
5.3.4. Eastern Europe
5.3.5. Asia Pacific Excl. Japan (APEJ)
5.3.6. Middle East & Africa
5.3.7. Japan
5.4. Market Attractiveness Analysis By Region
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