Between 2022 and 2030, the market for collation shrink films is anticipated to grow at a CAGR of 5.9%, reaching US$ 6.5 Bn. In the coming years, shifting focus on usage of recyclable materials and production of five-layer collation films is expected to create multiple growth opportunities for collations shrink films market during 2020-2030.
The thriving e-commerce industry is expected to be the key driver for collation shrink films. Demand for high performance packaging solution and reduce transportation cost is expected to make collation shrink film an important packaging material for personal care products, food and beverages, cosmetics, and pharmaceuticals.
Future Market Insights predicts that e-commerce businesses will opt for collation shrink films as they are easy way to ensure that the product is not tampered with. Furthermore, products sensitive to moisture can stay safe in this type of packaging, thus making it a perfect choice for deliveries.
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“Most of the key players are continuously focusing on the development of extra thin collation shrink films, which will offer maximum impact protection to the stored products during transportation. Companies are coming up with the new technologies that will manufacture nearly 10-micron thin collation shrink films, which are stiff and provide a firm grip to the package,” says an FMI analyst.
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
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.
Impact of COVID-19 on Collation Shrink Films market
COVID-19 pandemic has created multiple challenges for the packaging industry and reiterated its need to design sustainable solutions to reduce the pressure on landfills. Multiple restrictions of supply chain and logistical hurdles due to lockdown have slowed down the packaging industry, creating a negative impact on the collation shrink films market.
Future Market Insights predicts that collation shrink market will begin recovery in Q4 2020, starting with South and East Asia as they will still have a stronghold over manufacturing activities. China and India started production of collation shrink films with limited resources. Also various key players are planning to invest in developing manufacturing units in these regions, therefore it is expected that by the end of 2021, the demand and supply equilibrium of collation shrink films will be achieved.
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Collation Shrink Films Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global collation shrink films market, analysing historical demand from 2015-2019 and forecast statistics for 2020-2030. The collation shrink films market is segmented into material (low density polypropylene (LDPE), linear low density polypropylene (LLDPE), medium density polypropylene (LDPE), high density polypropylene (LDPE), polypropylene, and others), thickness (less than 25 micron, 25-50 micron, 51-100 micron, and above 100 micron), application (bottles, cans, books and magazines, cartons, and others), end use (food and beverage, cosmetics, personal care & home care, pharmaceuticals, transportation and logistics, printing and publication, and others), across seven regions.
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Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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