According to the information provided, the global collation shrink films market is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.9% between 2022 and 2030, reaching a market size of US$ 6.5 billion by 2030.
The growth of the collation shrink films market can be attributed to the increasing demand from various end-use industries. The food and beverage industry is a significant consumer of collation shrink films, using them to pack bottles, cans, and cartons, among other products. The personal care industry also relies on collation shrink films to package items such as shampoos, conditioners, and lotions. Similarly, the healthcare industry utilizes collation shrink films for medical devices and disposables.
The rise of e-commerce is another factor driving the demand for collation shrink films. As more consumers turn to online shopping, retailers require effective packaging solutions to secure and protect products during transit. Collation shrink films play a vital role in safeguarding goods while maintaining their integrity and presentation.
Collation shrink films are typically made from polyethylene (PE) and are available in various thicknesses and widths. They are applied using heat, which causes them to shrink tightly around the packaged products, providing stability and protection against damage.
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In summary, the collation shrink films market is expected to experience substantial growth due to increasing demand from multiple industries, including food and beverage, personal care, healthcare, and e-commerce. The ability of collation shrink films to secure packages and protect products during transportation and storage contributes to their popularity in these sectors.
Key Takeaways of Collation Shrink Films Market Study
- As per thickness, 25-50 micron collation shrink films are expected to holds 1/3rd of the market share during the forecast period
- Linear low-density polyethylene (LLDPE) material segment is expected to gain by 50 bps of current market share, by the end of 2030
- Collation shrink films are mostly preferred for bottles and cans packaging applications, pushing these segments to gain a cumulative worth of US$ 774 Mn by 2025
- Food and beverage manufacturers to remain key end users of collation shrink films and estimated to expand 1.8x of current market value during 2020-2030
- North America is estimated to remain at leading position with more than 25% market share in 2020. However, East Asia is expected to outbid other regions during the forecast period.
- South Asia market is anticipated to expand by 2.1x of current market share till 2030, attributing to double digit investment by the key players for manufacturing collation shrink films
- Germany market is anticipated to be highly lucrative as it is poised to represent an incremental opportunity of US$ 24 Mn by the end of 2025 in the Europe region
- Mexico collation shrink films market is anticipated to expand at a potential CAGR of 7.1% during 2020-2030, owing to increasing number of key players
Frequently Asked Questions (FAQ):
- What are the factors influencing the growth of the Collation Shrink Films market?
- Which are the key sectors driving the Collation Shrink Films market?
- Who are the major manufacturers?
- What is the biggest restraint for Collation Shrink Films ?
- What will be the growth prospects of the Collation Shrink Films market?
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Removing Downgauging Bottlenecks to Drive Collation Shrink Films Market
Manufacturers in collation shrink films are focussing on optimizing the quality by enhancing its multi-layer packaging film concept with five or more layers. These multi-layer collation shrink films are relatively stiff and enable extra thin gauges resulting in low wastage and overall cost.
Five-layer collation shrink films offer the advantage of holding force and stiffness over three-layer films, which are often a bottleneck to downgauging in secondary packaging application.
Recently Saudi Arabia-based Sabic Company introduced a multi-layer film solution for beverage collation. The SABIC multi-layer collation shrink films concept is expected to reduce downgauging and production at approximately 10,000 kg/hr. Its Teesside, UK-based plant, is manufacturing such collation shrink films to cater to the demand of efficiency on all fronts.
Key Players:
- Napco National
- Scientex
- MURAPLAST d.o.o.
- Eurofilms Extrusion Limited
- Bolloré Group
- ITP – Industria Termoplastica Pavese
- SABIC
- Coveris Holdings SA
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Key Segments Covered in Collation Shrink Films Industry Research
Collation Shrink Films Market by Thickness:
- Less than 25 Micron
- 25-50 Micron
- 51-100 Micron
- Above 100 Micron
Collation Shrink Films Market by Material:
- Low Density Polyethylene (LDPE)
- Linear Low Density Polyethylene (LLDPE)
- Medium Density Polyethylene (MDPE)
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Others
Collation Shrink Films Market by Application:
- Bottles
- Cans
- Books & Magazines
- Cartons
- Others
Collation Shrink Films Market by End-use:
- Food & Beverages
- Cosmetics
- Personal Care & Home Care
- Transport & Logistics
- Pharmaceuticals
- Printing & Publications
- Others
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