The global packaging industry is expected
to grow in the forecast period due to wide applications in industries
like healthcare, food and drinks, cosmetics and other consumer as well
as industrial good industries. Stretch films
are highly engineered polythene films which are used in packaging
goods. These films are used because of their elasticity and flexibility.
Stretch films are primarily used to wrap the pallet loads because of
their special properties of being moisture and air resistant which
prevents the goods from getting damaged and thus enhancing the quality
of these goods.
Market Overview:
Demand for stretch films is expected to
grow in future because of the rising demand of packaging industry for
the protection of goods during distribution. Stretch films market is
expected to grow with a high CAGR and is one of the most lucrative
segments of the packaging sector. Stretch films market is a growing
market and is expected to create a lot of opportunities in future.
Stretch films are commonly used in packaging industry to combine small
individual items into pallets and it also protects these products from
getting damaged during storage or shipment.
Market Dynamics:
The biggest driving force for stretch
films market is that, it is cost effective, user-friendly, more energy
efficient, faster and a better option than shrink film products. The
other driving force for the stretch films market is the growing
R&D’s which produce new products that provides more efficiency than
the older ones. The growing retail industry and hypermarkets which are
usually cited outside the city requires stretch film products to send
their goods resulting in increasing the demand of stretch films.
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Few of the major restraints in the
stretch films market are the rising raw materials cost, availability of
cheap alternatives, and environmental concerns. Growing demand of
packaging products has increased the consumption of plastics which
requires a proper disposal of these products resulting in increasing the
environmental concerns among the stretch films manufacturers.
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