Stretch wraps, also known as pallet wraps, are a type of plastic sheet used to keep a pallet’s contents stable and solid during transit. The demand for cost-effective packaging solutions has increased, which has led to rise in the pallet wrap industry. Pallet wrap market are predicted to rise from US$6.14 billion in 2023 to US$9.12 billion in 2033, growing at a 4% CAGR.
Due to the rise of e-commerce and online retail, there is an increasing demand for pallet wraps as a result of the increased worldwide transportation of goods. The growth of international trade and the demand for reliable and secure export packing
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There are several different types of pallet wraps, including hand-stretch, machine-stretch, and pre-stretch wraps. As opposed to hand-stretch wraps, which are physically wrapped around a pallet, machine-stretch wraps are wrapped using a machine, providing a more reliable and effective wrapping operation. Pre-stretch wraps are stretched before use to provide a tighter, more secure wrap and have a higher elastomeric content.
The growing need for environmentally friendly packaging choices led to the development of biodegradable and recyclable pallet coverings. These wrappers are made of plant-based materials like corn starch and are compostable, which reduces the environmental impact of packaging waste.
In conclusion, the market for pallet wraps is expected to continue growing in the coming years, driven by the increasing demand for efficient and sustainable packaging solutions. The development of environmentally friendly wraps and advances in technology will also play a key role in shaping the future of the market.
Competitive Landscape
Pallet wrap suppliers are focusing on research and development of sustainable and eco-friendly pallet wraps that are climate-friendly. Pallet wrap companies are also adopting various organic and inorganic growth strategies to boost pallet wrap sales on a global level.
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Key Players:
- Intertape Polymer Group Inc.
- Berry Global Inc.
- Scientex Berhad
- Aep Industries Inc.
- Sigma Stretch Film Corp.
- Coveris
Key Segments of Pallet Wraps Industry Survey
Pallet Wraps Market by Thickness:
- <15 mm Pallet Wraps
- 15-30 mm Pallet Wraps
- 31-45 mm Pallet Wraps
- >45 mm Pallet Wraps
Pallet Wraps Market by Product:
- Hand Wrap Rolls
- Machine Rolls
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Pallet Wraps Market by Film:
- Blown Film Pallet Wraps
- Cast Film Pallet Wraps
Pallet Wraps Market by Material:
- Polyethylene Pallet Wraps
- LLDPE
- LDPE
- HDPE
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