Global Stretch and Shrink Film Market is expected to reach USD 18.46 billion by 2024, according to a new report by Grand View Research, Inc. Rising demand for the light-weight material for industrial packaging is expected to drive growth for the product over the forecast period. The demand is expected to be driven by superior packaging properties such as improved printability, easier application and robust package sealing capabilities of the films.
The introduction of superior shrink and stretch film materials such as linear low-density polyethylene (LLDPE), extended polyethylene (EPE) and High-Density Polyethylene (HDPE) is expected to further strengthen the pallet holding abilities of the films. In addition, the development of bio-degradable stretch and shrink films by the leading manufacturers in a bid to counter the challenges of film disposal is expected to drive the demand over the next eight years.
The low weight of the product results in a substantial decrease in the transportation cost thereby elevating the profit margins, resulting in the higher adoption of such packaging materials by the leading end-use industries.
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Further key findings from the report suggest:
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Grand View Research has segmented the stretch and shrink film market on the basis of resin, product, application and region:
Resin Outlook (Revenue, USD Million, 2013 – 2024)
Product Outlook (Revenue, USD Million, 2013 – 2024)
Application Outlook (Revenue, USD Million, 2013 – 2024)
Regional Outlook (Revenue, USD Million, 2013 – 2024)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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