The collation shrink films market is poised for robust growth, with an estimated Compound Annual Growth Rate (CAGR) of 5.9% from 2022 to 2030, reaching a valuation of US$6.5 billion by 2030. This significant expansion is primarily driven by the surging demand for collation shrink films in diverse industries, including food and beverage, personal care, healthcare, and electronics.
Collation shrink films are specially designed to package multiple units of products together and are typically made from polyethylene (PE) in various thicknesses and widths. Upon the application of heat, these films shrink-wrap the packages, ensuring secure packaging and protection during transportation and storage.
The rising popularity of collation shrink films can be attributed to their ability to streamline packaging operations, enhance product presentation, and offer tamper-evident packaging solutions. In the food and beverage industry, these films are extensively used to bundle products such as cans, bottles, cartons, and containers. Similarly, the personal care, healthcare, and electronics sectors utilize collation shrink films for packaging items like toiletries, pharmaceuticals, medical devices, and electronic components.
Furthermore, the growth of the e-commerce industry is expected to be a significant driver of the collation shrink films market. With e-commerce retailers relying heavily on these films to pack and safeguard products during shipping, the demand for collation shrink films is set to soar. As the e-commerce sector continues to expand due to the increasing preference for online shopping, the demand for these films is expected to witness substantial growth.
In conclusion, the collation shrink films market is experiencing remarkable growth due to its rising demand across multiple industries and its crucial role in providing effective packaging solutions and product protection. With the growing prominence of e-commerce, collation shrink films have become indispensable in modern supply chains.
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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
Key Insights oF The Report
- Key Trends in the collation shrink films market
- New Advancements in Production Technologies
- New Product Launches, Expansions of collation shrink films market
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.
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Key Players:
- Napco National
- Scientex
- MURAPLAST d.o.o.
- Eurofilms Extrusion Limited
- Bolloré Group
- ITP – Industria Termoplastica Pavese
- SABIC
- Coveris Holdings SA
Region-wise Insights on Collation Shrink Films Market
North America: Strong competition expected in well-established market; holds nearly 1/4th of market share.
Europe: Stagnation expected due to recent plastic usage regulation; challenges for new players; presence of developed key players.
South Asia and East Asia: Increasing demand in food, beverage, and pharmaceutical sectors; expansion plans in India and China; lucrative growth opportunities due to retail and e-commerce industries.
Oceania and MEA: Estimated 8% market share; sluggish market growth; less attractiveness.
India: Leading position in South Asia; prominent growth rate of 8.2%; increasing demand for 20-50 Micron films.
East Asia: Significant growth opportunities; expansion in parent industries like pharmaceuticals and food and beverage; China expected to outbid the US market.
Europe: Expected growth rate of 4% during 2022-2030; increased sales of linear low density polyethylene collation shrink films.
Latin America: Anticipated to expand market share by 40bps by 2030; increased sales of linear low density polyethylene collation shrink films.
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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
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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