Global shrink films market is expected to grow at a CAGR of 4.19% to reach a total value of US$9.341 billion by 2024 from US$7.302 billion in 2018. Shrink films is made up of polymer plastics which shrinks tightly over the product when heated up. It further keeps the product safe from outside elements and increases shelf life of the product. The rising demand for packed foods is expected to drive the shrink films market. Further, the increasing use of shrink films in the E-commerce industry owing to cost efficiency and damage control properties is expected to create growth opportunities for the market. The key industries driving the market for shrink films are food and beverage, electronics. Healthcare and cosmetics among others. Furthermore, the growing disposable income and increasing consumption of packed foods in developing economies like India and China is anticipated to boost the market growth for shrink films. However, the concerns regarding environmental concerns owing to difficult recycling of plastic is expected to hinder the market growth.
The major players profiled in the shrink films marketinclude Sealed Air Corporation, Flexopack S.A., BP Plastics Holding Bhd, Kureha Corporation, Schur Flexibles Group,Coveris Holdings S.A., Winpack Ltd., Syfan USA, Crawford Packaging, Gap Foil, Transcontinental Inc.
|Market size value in 2018||US$7.302 billion|
|Market size value in 2024||US$9.341 billion|
|Growth Rate||CAGR of 4.19% from 2018 to 2024|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Material, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Sealed Air Corporation, Flexopack S.A., BP Plastics Holding Bhd, Kureha Corporation, Schur Flexibles Group, Coveris Holdings S.A., Winpack Ltd., Syfan USA, Crawford Packaging, Gap Foil, Transcontinental Inc.|
|Customization scope||Free report customization with purchase|
The shrink films market has been analyzed through the following segments:
Frequently Asked Questions (FAQs)
Q1. What will be the shrink films market size by 2024?
A1. The global shrink films market is expected to reach a total market size of US$9.341 billion by 2024.
Q2. What is the size of global shrink films market?
A2. Shrink Films market was valued at US$7.302 billion in 2018.
Q3. What are the growth prospects for shrink films market?
A3. The shrink films market is expected to grow at a CAGR of 4.19% during the forecast period.
Q4. Who are the major players in the global shrink films market?
A4. The major players profiled in the shrink films market include Sealed Air Corporation, Flexopack S.A., BP Plastics Holding Bhd, Kureha Corporation, Schur Flexibles Group, Coveris Holdings S.A., Winpack Ltd., Syfan USA, Crawford Packaging, Gap Foil, Transcontinental Inc.
Q5. What factors are anticipated to drive the shrink films market growth?
A5. The rising demand for packed foods is expected to drive the shrink films market.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Force Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. SHRINK FILMS MARKET BY MATERIAL
6. SHRINK FILMS MARKET BY END-USER
6.1. Food and Beverage
7. SHRINK FILMS MARKET BY GEOGRAPHY
7.1. North America
7.2. South America
7.3.3. United Kingdom
7.4. Middle East and Africa
7.4.1. Saudi Arabia
7.5. Asia Pacific
7.5.3. South Korea
8. COMPETITIVE INTELLIGENCE
8.1. Company Benchmarking and Analysis
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. COMPANY PROFILES
9.1. Sealed Air Corporation
9.2. Flexopack S.A.
9.3. BP Plastics Holding Bhd
9.4. Kureha Corporation
9.5. Schur Flexibles Group
9.6. Coveris Holdings S.A.
9.7. Winpack Ltd.
9.8. Syfan USA
9.9. Crawford Packaging
9.10. Gap Foil
9.11. Transcontinental Inc.
LIST OF FIGURES
LIST OF TABLES
Sealed Air Corporation
BP Plastics Holding Bhd
Schur Flexibles Group
Coveris Holdings S.A.
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