The global collation shrink films market is expected to soar at a remarkable Compound Annual Growth Rate (CAGR) of 5.9% between 2022 and 2030, reaching a valuation of US$ 6.5 billion by the year 2030.
Carton Packaging Driving Sales:
Collation shrink films, particularly for carton packaging applications, are witnessing a surge in demand. Highly preferred for bottles and cans packaging in bundle formats, these segments are anticipated to create a cumulative incremental opportunity of US$ 774 million in the next five years. Moreover, collation shrink films for cartons packaging are estimated to gain 60bps of the current market share during the forecast period, offering increased packaging strength for longer durations. Notably, in South Asia, these films held nearly 17% market share for books and magazine laminations in 2020.
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Next-Gen Technology for Greener Solutions:
In the pursuit of developing superior products while minimizing carbon footprint, key players in the collation films market are focusing on the adoption of next-gen technology to create greener solutions. The use of 100% recyclable materials has become a top priority for plastic packaging companies worldwide.
Dow Company, for instance, has introduced recycled post-consumer plastic resins for producing collation shrink films, aligning with sustainability goals. Furthermore, Coveris has launched Duralite™ R, a new product range for collation shrink films, boasting 50% post-consumer recyclate and pre-consumer top-up material.
Growth Opportunities in Collation Shrink Films Market:
- E-commerce Packaging Surge: The growing trend of online shopping is driving demand for efficient and visually appealing packaging solutions, presenting a significant growth opportunity for collation shrink films in packaging applications for e-commerce.
- Sustainable Packaging Demands: Increasing awareness about environmental issues is pushing the industry towards sustainable packaging solutions. Collation shrink films that are eco-friendly and recyclable present a substantial growth avenue as companies seek more sustainable alternatives.
- Technological Advancements: Continuous innovation in film manufacturing technologies, including improved material formulations and enhanced processing techniques, provides an opportunity for the development of high-performance collation shrink films, meeting evolving industry requirements.
- Globalization and Supply Chain Efficiency: As businesses expand globally, the demand for streamlined supply chains and efficient logistics increases. Collation shrink films play a crucial role in optimizing packaging processes, reducing shipping costs, and ensuring product integrity, making them integral to global supply chain strategies.
- Diverse End-Use Applications: Collation shrink films find applications across various industries, such as food and beverage, pharmaceuticals, and consumer goods. Diversification into new and emerging markets within these sectors offers growth potential for manufacturers and suppliers of collation shrink films.
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Market Outlook and Future Prospects
As the global collation-shrink films market continues to evolve, sustainability will remain a key focus area for industry players. The adoption of next-generation technology and the integration of recycled materials underscore a commitment to environmental responsibility and eco-friendly packaging solutions.
Industry Trends in Collation Shrink Films Market:
- Focus on Bio-Based Materials: The industry is witnessing a trend towards the use of bio-based and biodegradable materials in collation shrink films, aligning with the broader sustainability movement and meeting consumer preferences for eco-friendly packaging.
- Smart Packaging Integration: Incorporating smart packaging technologies, such as RFID and QR codes, into collation shrink films is a rising trend. This facilitates improved supply chain visibility, product authentication, and enhanced consumer engagement.
- Thin Film Technology Advancements: Ongoing developments in thin film technology contribute to the production of thinner yet high-performance collation shrink films. This trend addresses the need for reduced material usage while maintaining packaging integrity and strength.
- Customization and Branding: The market is experiencing a shift towards customizable and aesthetically appealing collation shrink films. Brands seek unique packaging designs that enhance product visibility on the shelf and contribute to brand recognition.
- Regulatory Compliance and Safety: Increasing emphasis on regulatory compliance and product safety standards is shaping the industry. Collation shrink film manufacturers are aligning with regulations and investing in research and development to produce films that meet safety requirements across different industries.
Key Companies Profiled
- Napco National
- Scientex
- MURAPLAST d.o.o.
- Eurofilms Extrusion Limited
- Bolloré Group
- ITP – Industria Termoplastica Pavese
- SABIC
- Coveris Holdings SA
- Tilak Polypack Pvt. Ltd
- Polystar Plastics Ltd
- Polipaks Ltd.
- Plastotecnica SpA
- Silvalac SA
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Key Segments Covered in Collation Shrink Films Industry Research
By Thickness:
- Less than 25 Micron
- 25-50 Micron
- 51-100 Micron
- Above 100 Micron
By Material:
- Low Density Polyethylene (LDPE)
- Linear Low Density Polyethylene (LLDPE)
- Medium Density Polyethylene (MDPE)
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Others
By Application:
- Bottles
- Cans
- Books & Magazines
- Cartons
- Others
By End-use:
- Food & Beverages
- Cosmetics
- Personal Care & Home Care
- Transport & Logistics
- Pharmaceuticals
- Printing & Publications
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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