Reportlinker.com has declared that it has added a new market research report to its offering. The report titled, “US Stretch & Shrink Film Industry” predicts that the Demand in the US for stretch and shrink films will reach $2.4 billion in the year, 2015.
The US demand for shrink and stretch film will increase 3.3% each year to $2.4 billion in the year 2015, due to the increasing demand for protection, bundling and product packaging of goods during distribution and warehousing and also by competitive benefits over other packaging materials. Other stimulants include machinery and resin improvements as well as opportunities in sectors like stretch labels, hoods and sleeves.
LDPE is a popular shrink and stretch film resin. The demand for stretch films will increase 2.8% every year till 2015 due to the benefits in labor and energy savings. The most rapid growth is expected for stretch hoods because of their cost benefits, increased throughput rates, superior load integrity and weather protection. The shrink film demand will increase 4.2% each year to $970 million in 2015.
Shrink films have high transparency and superior print features enabling better marketability. Particularly growth will be enabled by enhanced use in labels. Shrink film offers a moisture and seal barrier and is commonly used along with corrugated trays as an overwrap. Shrink and stretch film resin demand will increase each year by 2.5% to 1.9 billion pounds in the year 2015. LDPE is most popular due to its superior elongation, cost-effectiveness and other characteristics. It is predicted that the demand for LDPE will continue to increase till 2015.
Polyvinyl chloride (PVC) shrink and stretch film demand will be considerably flat in terms of volumes whereas gain will be significant in terms of value. Shrink sleeve labels for beverages and foods will be the prime opportunity area for PVC with other sectors declining as a result of PVC's poor environmental image and competition from LDPE films. Other smaller shrink and stretch film resins include high density polyethylene, polypropylene, polyester such as polyethylene terephthalate as well as biodegradable resins.
It is estimated that the distribution and storage for shrink and stretch films will increase at an above average rate through 2015. The major growth driver will be pallet wrap because of its competitive benefits over tape, strapping and other bulk integration methods.