Plastic shrink wrap, also known as shrink film or shrink wrap, is a versatile packaging material made from polymer plastic that shrinks when heat is applied, tightly conforming to the shape of the items it covers. This wrapping process provides a secure and protective barrier around products, enhancing their stability, durability, and tamper resistance.
The high protection and durability, and tamper-proofing capabilities are expected to increase its adoption of plastic shrink wraps. Alongside this, high preservation and convenience is delivered through these packaging styles.
The plastic shrink wrap market is anticipated to expand its roots at an average CAGR of 4.1% between 2023 and 2033. The market is expected to have a market of US$ 4.67 billion by 2033 while it is likely to be valued at US$ 3.13 billion in 2023
The rising demand for flexible packaging that covers the maximum area possible is adding value to the market. It is designed to carry a shrink-wrap bag. Furthermore, the usage of it to secure lids and caps is also garnering the attention of manufacturers and packagers.
The new opportunities with expanding e-commerce and regular maintenance are likely to garner market growth. They are temperamental with different ranges of temperatures, forming brittleness when too cold.
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Market Trends
The surge in the demand for packaged food items, fueled by significant shifts in lifestyles, has led to an increased reliance on plastic shrink wrap packaging across various industries. Notably, plastic shrink wraps crafted from polyolefin are recyclable, offering a sustainable solution, and provide a convenient surface for companies to print essential information.
The versatility of plastic shrink wraps extends to their printability, allowing high-quality graphics that captivate consumers’ attention easily. This printability not only enhances visual appeal but also adds a glossy finish, elevating the overall appearance of the packaged products. Moreover, the cost-effectiveness, environmental friendliness, and strong shelf appeal of plastic shrink wraps make them a preferred choice.
In the packaging industry, there is a growing demand for printed plastic shrink wraps due to their ability to save costs on labeled items and Universal Product Code (UPC). Particularly suitable for industries prioritizing sustainability, durability, cost-effectiveness, and robust packaging for heavy items, printed plastic shrink wraps are emerging as an ideal solution.
Key Features of Plastic Shrink Wrap:
- Heat-Shrinkable: The primary characteristic of plastic shrink wrap is its ability to shrink when exposed to heat, creating a tight and form-fitting seal around the items it encases.
- Transparency: Shrink wrap is often transparent, allowing for easy visibility and identification of the packaged items without the need for unwrapping.
- Versatility: Plastic shrink wrap is suitable for various shapes and sizes, making it a popular choice for packaging individual items, multipacks, or entire pallets.
- Protection: The tight seal created by shrink wrap protects products from moisture, dust, and other environmental factors during storage and transportation.
- Tamper-Evident: Shrink wrap can be used to create tamper-evident packaging, providing a visual indicator if the package has been opened or tampered with.
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Competitive Landscape
The key vendors focus on sustainable material and 100% recyclable products. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
- Amcor plc has introduced a broad range of shrinkable thermoforming films that come with the adapted barrier and sealing properties for dairy. The product comes with high O2 barrier to enhance the shelf life.
- J K Polyfilm has launched the lope shrink film, heat shrink film, shrink wrap film, and VCI film.
Key Players Profiled in the Plastic Shrink Wrap Market
- Amcor plc
- International Plastics Inc.
- Intertape Polymer Group Inc.
- J K Polyfilm
- Coveris Holdings sa
- Clondalkin Group
- CeisaSemo
- Clondalkin Group
- RKW Group
- Berry Global Inc.
- PlastotecnicaSpA
- Clearpack group
- Baroda Packaging
- Brentwood Plastic, Inc.
- Aintree Plastics Limited
- Elite Plastics Ltd.
Key Segments Covered
By Material:
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate Glycol (PETG)
- Oriented Polystyrene (OPS)
By Application:
- Neck Banding
- Shrink Sleeves
- Shrink Bundling
- Wrapping
- Others
By Pattern:
- Floral
- Abstract
- Geometric
- Striped
- Checkered
- Modern
- Paisley
- Character
- Solid
- Ornament
- Polka Dot
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