The collation shrink films market is expected to experience robust growth, with a projected CAGR of 5.9% from 2022 to 2030, reaching a valuation of US$6.5 billion by 2030. This growth is primarily driven by the increasing demand for collation shrink films in various industries, including food and beverage, personal care, healthcare, and electronics.
Collation shrink films, made from polyethylene (PE) in different thicknesses and widths, are designed to package multiple units of products together. Upon the application of heat, these films shrink-wrap the packages, providing secure packaging and protection during transportation and storage.
The popularity of collation shrink films is rising due 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 like cans, bottles, cartons, and containers. Similarly, the personal care, healthcare, and electronics sectors utilize collation shrink films for packaging items such as toiletries, pharmaceuticals, medical devices, and electronic components.
The growth of the e-commerce industry is expected to be a significant driver of the collation shrink films market. E-commerce retailers rely heavily on these films to pack and safeguard products during shipping, leading to an increase in demand for collation shrink films. With the e-commerce sector’s continuous expansion due to the growing preference for online shopping, the demand for these films is expected to witness substantial growth.
In conclusion, the collation shrink films market is witnessing remarkable growth due to its increasing demand in multiple industries and its essential role in providing effective packaging solutions and product protection. The growing prominence of e-commerce further cements the importance of collation shrink films in modern supply chains.
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Key Takeaways:
- 25-50 micron collation shrink films are expected to hold 1/3rd of the market share during the forecast period.
- The linear low-density polyethylene (LLDPE) material segment is expected to gain 50 bps of current market share by the end of 2030.
- Collation shrink films are preferred for bottles and cans packaging applications, with these segments expected to reach a cumulative worth of US$ 774 million by 2025.
- Food and beverage manufacturers will remain key end-users, with an estimated expansion of 1.8x of the current market value during 2020-2030.
- North America is expected to lead with over 25% market share in 2020, but East Asia is anticipated to outperform other regions during the forecast period.
- The South Asia market is projected to expand by 2.1x of the current market share till 2030, with significant investments by key players for manufacturing collation shrink films.
- Germany’s market is anticipated to be highly lucrative, representing an incremental opportunity of US$ 24 million by the end of 2025 in the Europe region.
- Mexico’s collation shrink films market is expected to expand at a potential CAGR of 7.1% during 2020-2030, attributed to the increasing number of key players in the region
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
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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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