North America Stretch and Shrink Film market report gives comprehensive outlook on Stretch and Shrink Film market across the regions like North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The report on North America Stretch and Shrink Film market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application and country. This report studies North America Stretch and Shrink Film market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market.
North America Stretch and Shrink Film market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed North America Stretch and Shrink Film market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the North America Stretch and Shrink Film market report include suppliers, manufacturers, marketers, policy makers, and recent market activities.
North America Stretch and Shrink Film Market:
The market is expected to witness significant growth owing to growing technological innovations with respect to stretch films. The raw material prices exhibit a high degree of volatility owing to fluctuating crude oil prices which further imparts a degree of uncertainty in the price of shrink films. The demand for polyethylene-based plastic films is expected to register growth owing to increasing rejection of polyvinyl chloride films. The economy is one of the major manufacturers of processed food which finds high use of stretch films in both primary and secondary packaging. The demand for LLDPE based films in food processing industry is expected to grow on account of high transparency coupled with superior performance as a food contact material.
Growing demand for the product due to burgeoning food processing industry has led to an increase in the consumption of the product. In addition, high product demand food items, including fruits, vegetables, is expected to drive the market growth over the forecast period. However, the use of alternative packaging material and high degree of volatility owing to fluctuating crude oil prices which further imparts a degree of uncertainty in the price of shrink films can restraint the growth of stretch and shrink film market during the forecast period.
Strategic Business Acquisitions Fuels the Growth of Stretch and Shrink Film Market
Companies are investing heavily and are entering into mergers and acquisitions to tap the stretch and shrink market potential North Americaly. For instance, in June. 2, 2014– Berry Plastics Group, Inc. (NYSE:BERY) announced that it has completed the previously announced acquisition of Rexam’s Healthcare Containers and Closures (C&C) business.
Rapid Growth of Food & Beverage Industries Accelerates the Growth of Stretch and Shrink Film Market
Rapid growth in the food and beverage (F&B) sector is the key driver for the growth of this market. This sector is predicted to be the major customer for plastic packaging and stretch and shrink films during the forecast period. Since products in this sector are fast moving, they need to be light and cheap to reduce the transportation cost and facilitate instant disposal. The inherent property of plastics to mold into various shapes and sizes for the consumption, storage, and transportation of edible items is expected to facilitate market growth during the forecast period.
Canada Accounts for Larger Market Revenue Share in North America Stretch and Shrink Film Market
North America stretch and shrink film market has lucrative growth attributed to the presence of a number of consumer goods manufacturing companies such as Groupo Bimbo in Canada is expected to result in a high demand for the product. The use of the product for secondary packaging of products including, beverages, household, and personal care products is expected to drive the industry growth.
Key players profiled in the North America stretch and shrink film market include:
- Anchor Packaging,
- Berry Plastics,
- AEP Industries Inc. ,
- Bemis Company Inc. ,
- Dow Chemical Company ,
- I. du Pont de Nemours and Co (DuPont),
- FUJI Seal International Inc.,
- Intertape Polymer Group Inc
The presence of many multinational, regional, and local vendors in this market results in intense competition during the forecast period. In this market, the local players offer innovative solutions at a price lower than the international players, which leads to price wars among the vendors. The international players in this market are expected to exhibit inorganic growth during the forecast period as their growth is heavily dependent on the acquisition of local players.
Key Findings of the Report:
North America Stretch and Shrink Film market expanding at significant CAGR over 2019 to 2025 to reach market value of US$ XX Mn by 2025 owing to increasing demand from end user industries such as aerospace, automotive, construction, and medical.
- Based on product type stretch hood segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period.
- Based on application type food and beverage segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period.
- Players focusing on mergers and acquisitions strategies to retain market position in North America Stretch and Shrink Film market
Key Features of the Report:
- The report provides granular level information about the market size, country market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Resin Type
By Application Type
- Food & beverage
- Industrial packaging
- Consumer goods
By Product Type
- Sleeves and labels