, November 27, 2018 ) Global Shrink Plastic Film Market
Shrink film, also known as shrink wrap, is a polymer plastic film, which shrinks tightly covering whatever is required to be covered. Heat application can be done by heat gun (electric or gas), or the through a heat tunnel or conveyer when the product is passed through it.
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The shrink plastic film market is propelled by factors like sustainable packaging solutions by reducing the weight of the packaging, less weight and lower packaging cost, longer shelf life, easy transportation and less consumption of adhesives. The only constraint for this market is that the substances which are packed by shrink plastic are not affordable by everyone thus lowering the output of the shrink plastic film market.
Global Shrink Plastic Film Market Forecast Report (2018-2023)
Global Shrink Plastic Film Market was worth USD 2.12 billion in 2016 and estimated to be growing at a CAGR of 3.25%, to reach USD 2.58 billion by 2021. The market is predicted to grow at a significant potential during the specified period. It will keep growing with the recent developments in the plastic manufacturing industry.
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Global Shrink Plastic Film Market Segmentation
The Global Shrink Plastic Film market is broadly categorized on the basis of Type into Printed and Unprinted. On the basis of Application, the market is segmented into Beer, Water, and Carbonated Soft Drinks. Further, on the basis of Application Form, the market is classified into Can, Bottle and Brick. Lastly, on the basis of Application Pack Size the market is segmented as 3x2, 4x2, 4x3 and 6x3.
On the basis of region the global market is segmented into North America, Asia-Pacific, Europe, Latin America and Middle-East and Africa. As of 2016, the global Shrink Plastic Film market was led by North America, followed by Europe. However, the Asia-Pacific market is estimated to grow at the highest CAGR during the forecast period.
The major companies dominating this market for its products and services are
• AEP Industries Inc. ,
• Amcor Limited ,
• Bemis Company,
• Berry Plastics Corporation,
• Ceisa Packaging SAS, and
• Coveris Holdings S.A.
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