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.
The pallet wraps market refers to the industry involved in the manufacturing and sales of wraps or stretch films used for securing and protecting palletized goods during transportation and storage. 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
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.
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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.
Manufacturers Accelerate their Sustainability Drive by Committing to ‘Eco-Friendly’ Products
Leading players in the pallet wraps market are focusing on establishment of new production facilities and distribution units across lucrative economies of South Asia, with an objective to increase their sales revenues and tapping into new customer bases. According to the report, manufacturers are rethinking their production processes to align with the sustainability trend, reduce production costs, and enhance the brand value. Use of bio-based plastics continues to be in the spotlight as a prominent manufacturing trend, which will help the market players to revitalize their products’ marketability via ‘eco-friendly’ claims.
Mergers and acquisitions have a place of their own in the manufacturers’ growth strategies, states the FMI analysis. Through strategic mergers and acquisitions, manufacturers get an opportunity to leverage the combined know-how in product development and manufacturing processes, along with wider accessibility to a large number of resources.
Key Players:
- Intertape Polymer Group Inc.
- Berry Global Inc.
- Scientex Berhad
- Aep Industries Inc.
- Sigma Stretch Film Corp.
- Coveris
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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
Pallet Wraps Market by Film:
- Blown Film Pallet Wraps
- Cast Film Pallet Wraps
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Pallet Wraps Market by Material:
- Polyethylene Pallet Wraps
- LLDPE
- LDPE
- HDPE
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