Collation Shrink Films Market is expected to reach US$ 3.9 Bn in 2022, likely to surge at a vigorous 5.9% CAGR during the assessment period.
The thriving e-commerce industry is expected to be the key driver for collation shrink films. Demand for high performance packaging solution and reduce transportation cost is expected to make collation shrink film an important packaging material for personal care products, food and beverages, cosmetics, and pharmaceuticals.
Future Market Insights predicts that e-commerce businesses will opt for collation shrink films as they are easy way to ensure that the product is not tampered with. Furthermore, products sensitive to moisture can stay safe in this type of packaging, thus making it a perfect choice for deliveries.
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In the coming years, shifting focus on usage of recyclable materials and production of five-layer collation films is expected to create multiple growth opportunities for collations shrink films market during 2020-2030.
“Most of the key players are continuously focusing on the development of extra thin collation shrink films, which will offer maximum impact protection to the stored products during transportation. Companies are coming up with the new technologies that will manufacture nearly 10-micron thin collation shrink films, which are stiff and provide a firm grip to the package,” says an FMI analyst.
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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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.
Impact of COVID-19 on Collation Shrink Films market
COVID-19 pandemic has created multiple challenges for the packaging industry and reiterated its need to design sustainable solutions to reduce the pressure on landfills. Multiple restrictions of supply chain and logistical hurdles due to lockdown have slowed down the packaging industry, creating a negative impact on the collation shrink films market.
Future Market Insights predicts that collation shrink market will begin recovery in Q4 2020, starting with South and East Asia as they will still have a stronghold over manufacturing activities. China and India started production of collation shrink films with limited resources. Also various key players are planning to invest in developing manufacturing units in these regions, therefore it is expected that by the end of 2021, the demand and supply equilibrium of collation shrink films will be achieved.
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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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Key Questions Answered in the Report
- How much is the Collation Shrink Films market currently worth?
- What is the sales forecast for Collation Shrink Films through 2030?
- What was last 6-year market CAGR for the sales of Collation Shrink Films?
- Who are the key manufacturing companies for Collation Shrink Films?
- What’s with “North America“?
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