The global collation shrink films market is set to experience robust growth, with a projected compound annual growth rate (CAGR) of 5.9% between 2022 and 2030, reaching a valuation of US$ 6.5 billion by 2030. This growth can be attributed to the rising demand for collation shrink films across various industries, including food and beverage, personal care, healthcare, and electronics.
Collation shrink films are specifically designed to pack multiple units of packaged products together. These films are typically made from polyethylene (PE) and are available in different thicknesses and widths. By applying heat, the collation shrink films shrink-wrap the packages, providing secure packaging and protection during transportation and storage.
The increasing demand for collation shrink films in diverse end-use industries is a key driver behind the market’s growth. The food and beverage industry, for instance, heavily relies on collation shrink films to pack a wide range of products like bottles, cans, and cartons. Similarly, the personal care industry utilizes these films to package items such as shampoos, conditioners, and lotions. The healthcare sector is another significant consumer of collation shrink films, which are used to pack medical devices and disposables.
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Furthermore, the growth of the e-commerce industry is expected to contribute to the expansion of the collation shrink films market. E-commerce retailers extensively employ collation shrink films to pack and safeguard products during shipment. As the demand for online shopping continues to rise, it is anticipated to drive the growth of the e-commerce sector, consequently fueling the demand for collation shrink films.
In conclusion, the collation shrink films market is witnessing substantial growth due to the increasing demand across multiple industries and the expanding e-commerce industry. These films provide effective packaging solutions and protection for products, making them an essential component in the modern supply chain.
Key Takeaways of Collation Shrink Films Market Study
- As per thickness, 25-50 micron collation shrink films are expected to holds 1/3rd of the market share during the forecast period
- Linear low-density polyethylene (LLDPE) material segment is expected to gain by 50 bps of current market share, by the end of 2030
- Collation shrink films are mostly preferred for bottles and cans packaging applications, pushing these segments to gain a cumulative worth of US$ 774 Mn by 2025
- Food and beverage manufacturers to remain key end users of collation shrink films and estimated to expand 1.8x of current market value during 2020-2030
- North America is estimated to remain at leading position with more than 25% market share in 2020. However, East Asia is expected to outbid other regions during the forecast period.
- South Asia market is anticipated to expand by 2.1x of current market share till 2030, attributing to double digit investment by the key players for manufacturing collation shrink films
- Germany market is anticipated to be highly lucrative as it is poised to represent an incremental opportunity of US$ 24 Mn by the end of 2025 in the Europe region
- Mexico collation shrink films market is anticipated to expand at a potential CAGR of 7.1% during 2020-2030, owing to increasing number of key players
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Frequently Asked Questions (FAQ):
- What are the factors influencing the growth of the Collation Shrink Films market?
- Which are the key sectors driving the Collation Shrink Films market?
- Who are the major manufacturers?
- What is the biggest restraint for Collation Shrink Films ?
- What will be the growth prospects of the Collation Shrink Films market?
Removing Downgauging Bottlenecks to Drive Collation Shrink Films Market
Manufacturers in collation shrink films are focussing on optimizing the quality by enhancing its multi-layer packaging film concept with five or more layers. These multi-layer collation shrink films are relatively stiff and enable extra thin gauges resulting in low wastage and overall cost.
Five-layer collation shrink films offer the advantage of holding force and stiffness over three-layer films, which are often a bottleneck to downgauging in secondary packaging application.
Recently Saudi Arabia-based Sabic Company introduced a multi-layer film solution for beverage collation. The SABIC multi-layer collation shrink films concept is expected to reduce downgauging and production at approximately 10,000 kg/hr. Its Teesside, UK-based plant, is manufacturing such collation shrink films to cater to the demand of efficiency on all fronts.
Key Players:
- Napco National
- Scientex
- MURAPLAST d.o.o.
- Eurofilms Extrusion Limited
- Bolloré Group
- ITP – Industria Termoplastica Pavese
- SABIC
- Coveris Holdings SA
Region-wise Insights on Collation Shrink Films Market
North America: Strong competition expected in well-established market; holds nearly 1/4th of market share.
Europe: Stagnation expected due to recent plastic usage regulation; challenges for new players; presence of developed key players.
South Asia and East Asia: Increasing demand in food, beverage, and pharmaceutical sectors; expansion plans in India and China; lucrative growth opportunities due to retail and e-commerce industries.
Oceania and MEA: Estimated 8% market share; sluggish market growth; less attractiveness.
India: Leading position in South Asia; prominent growth rate of 8.2%; increasing demand for 20-50 Micron films.
East Asia: Significant growth opportunities; expansion in parent industries like pharmaceuticals and food and beverage; China expected to outbid the US market.
Europe: Expected growth rate of 4% during 2022-2030; increased sales of linear low density polyethylene collation shrink films.
Latin America: Anticipated to expand market share by 40bps by 2030; increased sales of linear low density polyethylene collation shrink films.
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Key Segments Covered in Collation Shrink Films Industry Research
Collation Shrink Films Market by Thickness:
- Less than 25 Micron
- 25-50 Micron
- 51-100 Micron
- Above 100 Micron
Collation Shrink Films Market by Material:
- Low Density Polyethylene (LDPE)
- Linear Low Density Polyethylene (LLDPE)
- Medium Density Polyethylene (MDPE)
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Others
Collation Shrink Films Market by Application:
- Bottles
- Cans
- Books & Magazines
- Cartons
- Others
Collation Shrink Films Market by End-use:
- Food & Beverages
- Cosmetics
- Personal Care & Home Care
- Transport & Logistics
- Pharmaceuticals
- Printing & Publications
- Others
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