The stretch wrap film market is a large and positively growing market with a diverse range of applications. The market is driven by several factors including increasing demand for safe and secure packaging, growth in the e-commerce industry, and the need for cost-effective packaging solutions.
According to a report by Market sights, the global stretch and shrink film market size is expected to grow from USD 14.5 billion in 2020 to USD 18.5 billion by 2025, at a CAGR of 5.0% during the forecast period.
Some of the main trends
- Technological advancements: The rise of high-performance stretch films is driven by the development of new technologies and materials, such as Nano layer stretch film.
- Increasing Need to Automate: The demand for stretch wrap films with specialized properties is increasing with the use of automated packaging solutions.
- Demand for eco-friendly stretch films on the rise: Moving towards environmentally friendly packaging is driving the growth of eco-friendly stretch films.
- Globalization: With the increasing demand from emerging regions, the global market for stretch wrap films is experiencing a boom.
Pain Points for end users
- Inconsistencies in film thickness and quality can lead to packaging failures that result in product damage during transit and increase the risk of product returns and loss of customer confidence.
- Difficulty in selecting the right stretch film for a particular application can lead to lost time and money and an increased risk of product damage in transit.
- For end users, especially those shipping large quantities of products, the cost of stretch film can be a source of frustration.
- Stretch film waste and disposal can be a source of concern for end users as it can contribute to pollution and impact on sustainability.
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