Shrink Plastic Film Global Market

Shrink plastic film is composed of the synthetic film made from silicone. The product is coated with plastic and heat is applied to the material, which shrinks closely around the object it contains. It is used mainly for food packaging, packing, and bottling. It contains polyolefin, PVC, polyethylene, polypropylene, and many other compositions. Polyolefin is a preferred plastic film used for coating and wrapping due to its chemical and physical characteristics such as affordability, range of thicknesses, transparency, strengths and shrinkage ratio to shrink plastic film made from other materials. Rising demand from the food and beverage industry due to its different applicability to the industry is one of the prominent factors contributing towards the market growth. However, the availability of alternative plastic materials may be a major constraining factor for the growth of the global plastic film shrink market. Apart from this, the key players of the global market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, in February 2020, Coveris Holdings SA (Austria) is expanding its capacity and investing further in its Kufstein plant. The company plans to expand and upgrade its technical capabilities in Kufstein, Austria, by investing in a 5-layer agri-extrusion specialist line. In June 2019, Amcor Plc (Switzerland) purchased Bemis Company Inc. (US) to enhance its hold on the US market.

Global Shrink Plastic Film Market is valued approximately at USD 2.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.5% over the forecast period 2020-2027 and estimated to reach USD 3.2 billion by 2027.

The regional analysis of the global Shrink Plastic Film market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of a number of consumer goods manufacturing companies. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly growing industrialization and demand for packaging material such as shrink plastic film and increase in the purchasing capacity would create lucrative growth prospects for the Shrink Plastic Film market across the Asia-Pacific region.

Major market players included in this report are Amcor Plc, Coveris Holdings Sa, Ceisa Semo, Clondalkin Group, RKW Group, Berry Global Inc, Plastotecnica SpA, Clearpack group, Sarkina, Baroda Packaging
The detailed segments and sub-segment of the market are explained below:
By Type: Unprinted, Printed

By Multipack: 3X2, 4X2, 4X3, 6X3, Other
By Application Packaging: Can, Bottle, Brick
By Application: Alcoholic beverages, Water, Carbonated Soft drinks, Other drinks

By Region: North America, Europe, Asia Pacific, Latin America, Rest of the World

Furthermore, the years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Shrink Plastic Film Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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