Shrink packaging is used for many products to protect them from dust and dirt along with moisture damage or weathering. They tend to bind the products, especially small items, together. It is one of the best ways to protect the work during transportation and storage from surface damage. Heat is an essential part of the overall shrink-packaging process. The major components required for shrink packaging are a heat machine and shrink wrap. Shrink-wrap is a polymer plastic wrap made up of polyethylene, polyolefin, and polyvinyl chloride (PVC). Polyolefin is a highly consumed raw material in shrink wraps. Shrink packaging is done by wrapping and sealing the film tightly around the item or bundle of things by a heat gun or a heat tunnel.
MARKET DYNAMICS
The shrink packaging market has witnessed a significant growth owing to factors such as rising demand of chemical industry. Moreover, the rising disposable income of people and chnaging lifestyle resulting in the consumption of packaged food products have been providing a huge market opportunity for the key players operating in the shrink packaging market. However, rapid industrialization is projected to hamper the overall growth of the shrink packaging market.
MARKET SCOPE
The "Global Shrink-Packaging Market Analysis to 2028" is a specialized and in-depth study of the chemical and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the shrink packaging market with detailed market segmentation type, application, and geography. The global shrink packaging market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading shrink packaging market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global shrink packaging market is segmented on the basis of material, product and application. On the basis of material, the global shrink packaging market is divided into Linear Low-Density Polyethylene (LLDPE), Low-Density Polyethylene (LDPE), and PVC. On the basis of product, the global shrink packaging market is divided into hoods, labels & sleeves, wrap. On the basis of application, the market is divided into food packaging, and beverages.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global shrink packaging market based on various segments. It also provides marketsize and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The shrink packaging market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the shrink packaging market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the shrink packaging market in these regions.
MARKET PLAYERS
The reports cover key developments in the shrink packaging market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market pl ayers from shrink packaging market is anticipated to lucrative growth opportunities in the future with the rising demand for shrink packaging in the global market. Below mentioned is the list of few companies engaged in the shrink packaging market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the shrink packaging market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Aakriti Packaging
- Amcor Ltd
- American Eagle Packaging Corporation
- Bemis Company, Inc.
- Berry Global, Inc.
- Bonset America Corporation
- Deufol SE
- Dow Chemical Company
- Printpack Incorporated
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.