Stretch Films Market Projected To Witness Linear Transition Between 2022 - 2030 (CAGR 4.7%), Reaching US$ 3.7 Bn By 2030

Rising demand for lightweight and environmentally sustainable materials for packaging is expected to propel growth in the stretch films market, finds Future Market Insights (FMI) in a new study. Stretch films are highly engineered stretchable films used in packaging applications due to their elasticity and pliability. They are used to provide superior packaging since they possess moisture and air resistance properties.

Some of the key players in the stretch films market are Dow Chemical Company, Norflex, ERGIS Group, Veritiv Corporation, Berry Plastics, Paragon Films, Intertape Polymer Group, AEP Industries Inc., Sigma Stretch Film Crop., Anchor Packaging Inc., Scientex Berhad, Coveris Inc., Smurfit Kappa Group, Vishakha Polyfab, Allen Plastic Industries Co. Ltd., Interplast Group and Manuli Stretch.

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Increasing demand in ecommerce and food & beverages sector for bulk packaging is expected to drive the market growth. These films ensure strong and time saving packaging, making it a popular product in the market. Increasing caution regarding hygiene and concerns regarding the environment have increased demand for stretch films as they provide air tight packaging and can be recycled or incinerated following usage.

Key Takeaways from the Stretch Films Market Report

• The stretch films market is expected to grow at a CAGR of 4.7% due to increasing demand for safe and efficient packaging
• South Asia is expected to offer lucrative growth opportunities to the market applications of stretch films in the food and beverages industry continue to rise
• Linear low density polyethylene (LLDPE) will remain the preferred polyethylene due to demand for damage resistant packaging during product transportation
• Demand from the food and beverages industry is expected to grow due to increasing use of stretch films for strong and lightweight packaging

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Market Growth to Amplify?

“Durable and Tear Resistant Flexible Packaging Formats to rule”

Flexible packaging is widely preferred due to being cost-effective, durable, and lightweight. Flexible packaging occupies smaller spaces during accommodation on shelves. Flexible packaging formats such as stretch films enhance the aesthetic appeal of the product and can augment product branding, added with durable packaging. Thus, an increasing inclination of product manufacturers towards the adoption of flexible packaging solutions over rigid packaging in primary packaging is observed.

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Who Is Winning?

Companies operating in the market are alternatives to increase sustainability. Innovations and advancements by leading players are intended to gain competitive advantage in the market.

Megaplast introduced ‘Fiber Stretch Films’ that contain 30% PCR content that enable recycling and are an eco-friendly choice.

Barbier Group’s Recyplast is integrated using 20% of real post consumer waste. Their down gauged films display 15% cost reduction.

Key Segments Covered in Stretch Films Industry Research

Stretch Films Market by Material:

• Polyethylene (PE)
  • High – DensityPolyethylene (HDPE)
  • Low – DensityPolyethylene (LDPE)
• Polyvinyl Chloride (PVC)
• Polypropylene (PP)
• Others

Stretch Films Market by Manufacturing Process:

• Cast Stretch Film
• Blown Stretch Film

Stretch Films Market by End-use:

• Constructions
• Food and Beverages
• Pharmaceutical
• Consumer Product
• Paper
• Textile
• Chemicals &Fertilizers

Stretch Films Market by Region:

• North America Stretch Films Market
• Latin America Stretch Films Market
• Europe Stretch Films Market
• East Asia Stretch Films Market
• South Asia Stretch Films Market
• Oceania Stretch Films Market
• Middle East & Africa (MEA) Stretch Films Market

Explore FMI’s Extensive ongoing Coverage on Packaging

Composite Paper Cans Market- The global market of composite paper cans market is expected to rise at a CAGR of 4.8% during 2021-2031 in comparison to 3% CAGR registered during 2016 – 2020.

Corrosion Protection Tapes Market- The global corrosion protection tapes market is likely to join the bandwagon of exponential growth between 2022 and 2031 at a CAGR of 4.4%, reaching US$ 1.8 Bn by the year 2031.

Container Liner Market- The container liners market will register positive growth through 2021, with the overall valuation forecast to reach US$ 839 Mn in 2021. FMI projects container liners sales to increase at 4.7% CAGR between 2021 and 2031.

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