Polyolefin Shrink Film Market Size
With a value of over USD 6.1 billion in 2023 and expected to rise at a CAGR of 5.3%, Polyolefin Shrink Film Market size Food, beverages, cosmetics, medications, electronics, and more can all find use for polyolefin shrink film. It can be used for multi-item packs as well as for individual goods. Excellent moisture, dust, contaminant, and physical damage resistance provided by polyolefin shrink film helps during storage and transportation.
Shrink film lets buyers view a product inside, therefore improving its visual attractiveness by offering a transparent and glossy appearance. For goods on shop shelves, the shrink-wrapping technique can produce a neat and professional appearance.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Polyolefin Shrink Film Market Size in 2023 | USD 6.1 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 5.3% |
| 2032 Value Projection | USD 9.7 Billion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 150 |
| Tables, Charts & Figures | 191 |
| Segments covered | Material Type, Type, End-use, Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Polyolefin shrink film is a plastic substance even if it can be recycled; its manufacturing and disposal add to plastic waste problems and environmental challenges. Growing customer demand for environmentally friendly packaging solutions has pushed manufacturers to create substitutes for conventional polyolefin shrink films. Issues that demand attention are energy-efficient industrial techniques and the application of renewable energy sources. Therefore, the hazards connected to Polyolefin shrink film could lower the acceptance rate, so impeding the business expansion.
COVID-19 Impact
Food, beverages, drugs, e-commerce products, and other packaged commodities became more sought for during the epidemic. This explosion of packaged goods helped to drive demand for polyolefin shrink film and other packaging materials. Thus, the polyolefin shrink film sector development in the next years is expected to be driven by the lower number of COVID-19 cases and application of subsequent tactics by government and non-government groups.
Polyolefin Shrink Film Market Trends
Demand for more sustainable packaging solutions incorporating polyolefin shrink film with bio-based or recycled content has been spurred by growing environmental consciousness. By creating biodegradable, compostable, and recyclable shrink films, manufacturers are looking for ways to lessen the environmental effect of their goods. The expansion of e-commerce has resulted in a demand for packaging materials able to safeguard goods during transportation and enhance the unboxing experience. Polyolefin shrink film helps to guarantee that goods arrive for consumers in good shape and with an appealing presentation.
Polyolefin Shrink Film Market Analysis
Polyolefin shrink film market is categorized depending on material type as polypropylene (PP) shrink film and polyethylene (PE). In 2022 Polyethylene (PE) Shrink Film maintained a majority market value of USD 3.1 billion. Often considered more reasonably priced than other shrink film materials, PE shrink film appeals to companies looking for reasonably priced packaging solutions.
Type dictates the segmentation of the polyolefin shrink film market as general shrink film, cross-linked shrink film. With a leading market share of about 65% in 2022 and predicted to rise at a profitable rate through 2032 General Shrink Film holds. Throughout transit, storage, and retail display, general shrink film offers good defense against moisture, dust, grime, and physical damage.
The polyolefin shrink film market is broken out depending on end use as food and beverage, retail and e-commerce, manufacturing and distribution, consumer products, printed material, others. With a majority of market share in 2022, food and beverages are expected to rise at 5.1% CAGR by 2032. During transit and storage, polyolefin shrink film keeps food and beverage goods fresh, hygienic, and safe. Therefore, it is expected that the high-quality services and increasing use of Polyolefin shrink film at food outlets will hasten the company development.
U.S. dominated the North American region with majority polyolefin shrink film market share and a revenue of USD 1.2 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. The rapid expansion of e-commerce in North America has increased the need for packaging materials that can protect products during shipping and improve the unboxing experience.
Polyolefin Shrink Film Market Share
Some of the major business players operating in the Polyolefin shrink film market are
- Sealed Air Corporation
- Berry Global Group, Inc.
- Amcor plc
- Coveris Holdings S.A.
- Bemis Company, Inc. (Part of Amcor)
- Sigma Plastics Group
- AEP Industries Inc.
- Intertape Polymer Group Inc.
- Ship-Pac, Inc.
- Bollore Group
- Dow Inc.
- Atlantis Plastics, Inc.
- Winpak Ltd.
- Fuji Seal International, Inc
- T.H.E.M.
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Polyolefin Shrink Film Industry News
- In April 2022, Amcor, a global leader in packaging solutions announced an investment to expand its medical packaging capabilities in Europe. This will strengthen Amcor’s leadership in the growing industry of sterile packaging.
Polyolefin (POF) shrink film market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments
By Material Type
- Polyethylene (PE) Shrink Film
- Polypropylene (PP) Shrink Film
By Type
- General Shrink Film
- Cross-Linked Shrink Film
By End-use
- Food and Beverage
- Retail and E-commerce
- Manufacturing and Distribution
- Consumer Goods
- Printed Material
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
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