Polyethylene Shrink Film Market Report

Market Insights

What is polyethylene shrink film?

Polyethylene can be defined as a type of polyolefin. Low-density polyethylene is the most commonly used shrink film. Polyethylene shrink films are available in various thickness types which include <4 mil thickness, 4-12 mil thickness, and >12 mil thickness.

The Polyethylene Shrink Film market is projected to grow from USD xx billion in 2020 to USD xx billion by 2026 at a CAGR of around xx% during the forecast period.

Figure: Polyethylene Shrink Film market Size, 2020-2026 (USD Billion)

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Market Drivers

The growth of the polyethylene shrink film market is driven by widespread use in various industries including food & beverages, packaging, and pharmaceuticals among others. Significant growth of the food & beverage industry is expected to bolster the market growth at a substantial rate during the review period. Moreover, increasing consumption of packaged products is likely to create lucrative opportunities for the players operating in the global market in the coming years.

COVID-19 Impact on Polyethylene Shrink Film Market

The covid-19 outbreak posed significant challenges across verticals worldwide. Supply chain disruptions due to lockdown and trade restrictions affected the product availability in the market. Also, a decline in the growth of the end-use industries further affected the market growth.

Segments' Analysis

End-Use Industry Trends

Based on the end-use industry, the market has been segmented into food and beverage, industrial packaging, pharmaceutical, boat packaging, and others. Among these, the food & beverage segment accounted for the largest market share in 2020 and is expected to propel the market growth at a significant rate during the review period. The segment growth can be attributed to the increasing consumption of packaged food products.

Regional Trends

The market in the Asia-Pacific region accounted for the largest market share in 2020 and is expected to grow at a healthy CAGR during the review period. The regional market growth can be attributed to expanding growth of the food & beverage, packaging, and pharmaceutical industries in developing countries, particularly China and India. The market in North America and European regions is expected to be driven by widespread consumption of packaged food products and the established presence of the pharmaceuticals industry.

Critical Questions Answered in the Report

• What are the key trends in the Polyethylene Shrink Film market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the Polyethylene Shrink Film market?
• What are the key strategies adopted by the major vendors to lead in the global Polyethylene Shrink Film market?
• What is the market share of the top vendors?

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Key Players

Key players operating in the Polyethylene Shrink Film market are-

• Industrial Packaging (US)
• Allen Plastic Industries Co., Ltd (Taiwan)
• Shantou Libo Packaging Printing Co., Ltd. (China)
• BP Plastics Holding Bhd (Malaysia)
• Dongguan Hoplee Packing Products Co., Ltd (China)
• Jizhong Energy Xingtai Mining Group Co Ltd (China)
• Anqiu Wode International Co.,Ltd (China)

Target Audience

Here is the list of the group of customers that the polyethylene shrink film market hopes to have the greatest opportunity to convert-

• Polyethylene shrink film distributors
• Polyethylene shrink film suppliers
• Polyethylene shrink film manufacturers
• Logistics organizations
• Government bodies

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