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Stretch and Shrink Film Market Driven by Growing Demand from Transportation and Logistics Industry

  • Date Submitted: 10/24/2016 11:14 PM
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The global stretch and shrink films market was valued at US$14.1 bn in 2015 and is projected to reach US$21.1 bn by 2024. The sales revenue is expected to rise at a CAGR of 5.2% during the forecast period, owing to the increased demand for packaged foods and beverages. Over the last few years, the industry has witnessed the emergence of multiple players operating globally. However, Transparency Market Research has found that there is an increasing shift in dynamics towards market consolidation.

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TMR Predicts Limited Growth for Stretch and Shrink Films in Food and Beverages Sector

By product type, the stretch and shrink films market is led by shrink films and the segment is estimated to be most preferred product type throughout the forecast period owing to the rising applications of light-weight packaging films.

The low density polyethylene (LDPE) material segment is the leading contributor to the growth of stretch and shrink films market. However, it is projected to lose significant market share to other materials such as PVC, linear low density polyethylene (LLDPE), and polypropylene.

Based on end use, the food and beverages sector leads the stretch and shrink films market but is expected to lose market share by the end of the forecast period owing to the mature nature of the industry when it comes to the use of stretch and shrink films.

North America, Europe to Lose Market Share to Asia Pacific by 2024

On the basis of geography, the global stretch and shrink films market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA).

Asia Pacific is expected to lead the market throughout the forecast period and also register the fastest growth. The stretch and shrink films markets in North America and Europe are rather mature and are expected to...

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