The combined United States and Canada Collation Shrink Films Market exhibited significant growth, reaching a total valuation of US$ 1,014.8 million in 2023. This upward trajectory is poised to continue, with an expected robust compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. By the year 2030, the collation shrink films market in these North American regions is anticipated to achieve a remarkable market worth of US$ 1,451.1 million.
The proliferation of collation shrink films across various industries, notably in sectors such as food and beverage as well as pharmaceuticals, is forecasted to be a key driver of increased sales in the United States and Canada. These industries are increasingly recognizing the advantages of collation shrink films in terms of product packaging, protection, and marketability.
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Additionally, the growing adoption of collation shrink films as a potent marketing tool is set to further boost demand in the region. These films offer an exceptional printing surface quality, making them a preferred choice for branding and promotional purposes. This quality, combined with their functional attributes, positions collation shrink films as an effective means of enhancing the visual appeal and market presence of packaged products.
United States & Canada Collation Shrink Films Market: Key Factors
The upward trajectory of the retail industry, synergized with the flourishing e-commerce sector, stands as a pivotal factor poised to propel the market forward. The escalating demand for packaging solutions that are both cost-effective and lightweight is set to significantly augment sales in the collation shrink film segment.
Additionally, the increasing awareness surrounding the multifaceted benefits offered by collation shrink films is expected to contribute substantially to their elevated demand in the market. As businesses and consumers alike seek efficient and adaptable packaging solutions, collation shrink films emerge as a compelling choice in response to evolving market dynamics.
Key Takeaways: United States & Canada Collation Shrink Films Market
- The market in the United States and Canada experienced a CAGR of 2.7% from 2015 to 2022.
- By the end of 2022, the total market valuation reached USD 984.1 million.
- Canada’s market alone was valued at USD 293.8 million in 2022.
- The low-density polyethylene segment is projected to grow over 1.6x its current value by 2030.
- Sales of collation shrink films for packaging bottles are expected to surpass USD 536.9 million by 2030.
Competitive Landscape
Key collation shrinks film manufacturers active in the US and Canada are aiming on boosting income by expanding their presence and improving manufacturing capabilities.
Companies are also implementing merger and acquisition tactics and creating new products to fulfill customer demands. Recent developments:
- In October 2022, NOVA Chemicals Corporation launched a 100% Post-Consumer Recycled (PCR) Polyethylene resin. This resin can be used to manufacture collation shrink film solutions including shrink films, laminating films, heavy-duty pouches, etc. that are eco-friendly.
- In August 2022, Amcor introduced a sizable flexible packaging plant in the Czech Republic which will strengthen the company’s presence in Europe.
Market Key Players
ITP – Industria Termoplastica Pavese; Armando Alvarez Group; Macchi North America Plastic Machinery Inc.; Accredo Packaging, Inc.; Transcontinental Packaging; Dow Inc.; Berry Global Inc.; Pyramid Shrink Film; Plastixx FFS Technologies; Sealed Air Corporation; NOVA Chemicals Corporate; Packman Packaging Pvt. Ltd.; Impackt Packaging Solutions; Brentwood Plastics, Inc.; Intertape Polymer Group; Clysar, LLC; iSell Packaging; Bonset America Corporation; International Plastics Inc.
United States & Canada Collation Shrink Films Market Segmentation
By Material:
- Low-Density Polyethylene (LDPE)
- Linear Low-Density Polyethylene (LLDPE)
- Medium Density Polyethylene (MDPE)
- High-Density Polyethylene (HDPE)
- Polypropylene (PP)
- Others
By Thickness:
- Less than 25 microns
- 25 to 50 microns
- 51 to 100 microns
- Above 100 microns
By Application:
- Bottles
- Cans
- Books & Magazine
- Cartons
- Others
By End Use:
- Food & Beverage
- Cosmetics
- Personal Care & Home
- Pharmaceuticals
- Transport & Logistics
- Printing & Publications
- Others
By Country:
- United States
- Canada
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