Selbyville, Delaware, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Global Polyolefin shrink film Market could cross a valuation of USD 9.7 billion by 2032, according to the latest report by Global Market Insights Inc.
The industry growth can be attributed to the upsurge in demand for sustainable and eco-friendly packaging materials. According to the 2023 Buying Green Report, 80% of consumers are interested in buying refillable packaging and nearly 79% customers are looking to use sustainable packaging. Polyolefin shrink film is known for its recyclability and reduced environmental impact, making it an appealing choice for businesses aiming to meet their sustainability goals.
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Additionally, the film's excellent optical properties, such as clarity and gloss, enhance product visibility and attractiveness, which is essential for branding and marketing. Its exceptional sealing attributes, resistance to tear, and suitability for various packaging machinery contribute to its widespread adoption in the food, beverage, and consumer goods industries.
Polyolefin shrink film market from polypropylene shrink film segment will gain significant demand by 2032 owing to its versatility, allowing for customization and modification to meet specific packaging requirements. It offers exceptional clarity and transparency, making it an ideal choice for showcasing products while still providing protection. Its suitability for a wide range of applications, including bundling, labeling, and multipacking, has made it a preference for various industries. The flexibility and high shrinkage properties of polypropylene shrink film also make it a cost-effective and efficient packaging solution for both manufacturers and consumers.
Polyolefin shrink film market from cross-linked shrink film segment is anticipated to witness substantial growth through 2032 due to its superior strength and puncture resistance. As the cross-linking process enhances the film's physical properties, including strength, durability, and heat resistance, its adoption is on the rise. The film is particularly popular in industries where extreme conditions are a concern, such as the packaging of products that will be exposed to high temperatures or mechanical stress.
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Asia Pacific polyolefin shrink film market will garner massive revenues by 2032. With its rapidly growing economies and a burgeoning consumer base, the demand for packaging materials, including polyolefin shrink film, has seen substantial uptake. The increasing consumption of packaged goods, coupled with the expanding e-commerce sector, has led to a surge in the need for effective and efficient packaging solutions. Additionally, the rising awareness of sustainability and the adoption of eco-friendly packaging practices in Asia Pacific countries have further propelled the use of polyolefin shrink film.
Some of the leading players in the global polyolefin shrink film market are Sealed Air Corporation, Coveris Holdings S.A., Berry Global Group, Inc., Ship-Pac, Inc., Sigma Plastics Group, Bollore Group, Atlantis Plastics, Inc. Amcor plc, Dow Inc., Bemis Company, Inc. (Part of Amcor), Fuji Seal International, Inc., Intertape Polymer Group Inc., T.H.E.M., AEP Industries Inc., and Winpak Ltd.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
