Shrinkable Lidding Films market, By Raw Materials (Polyester, Polypropylene And Others), By Application (Industrial, Packaging And Others), By Region (North America, Europe, Asia Pacific, Middle East And Africa, South America) – Market Size & Forecasting (2021-2030)

The Global Shrinkable Lidding Films Market was valued at USD XX.XX billion in 2020 and is estimated to reach USD xx.xx billion by 2030 with a CAGR of xx.xx% over the forecast period. Shrinkable lidding films are made of raw materials that include polypropylene, polyethylene, or polyester. These films can be available in thin and tick sizes on the basis of their application. Not only this but also these films are water resistance, moisture, and chemical resistance and offer a cost-friendly solution. All these above-mentioned benefits make this product the best choice and increase its demand in automotive, chemical, packaging electronic, and agricultural industries.

Apart from this, the increasing environmental impact owing to the rise in plastic waste has urged manufacturers to make a sustainable solution. This is the main reason that the demand for eco-friendly products is rising. Certain other factors like rising demand for packaging in different industries that include pharmaceutical, food and beverages, and consumer goods are likely to fuel the market.

Global Shrinkable Lidding Films Market

COVID-19 Impact

Rising demand for food and pharmaceutical products amidst COVID-19 drive the Market Growth.

The onset of COVID-19 pandemic has resulted in the growth of the packaging industry owing to the increasing hygiene amongst customers which has increased the demand for packaged food items. Not only this but there is also an increase in awareness among the consumer because COVID-19 has increased the demand for the different medical instruments. But the movement of materials has severely affected which has delayed the production of the product. However, the government of all the economies is working hard to bring the situation on track.

LATEST TRENDS

Rising demand for eco-friendly products films to improve BOPET and BOPP consumption

The increase in the concern due to the emission of carbon dioxide combined with the rising pollution from plastics has shifted the attention of the manufacturers towards sustainable solutions which will save the environment.

Many industries have already started producing eco-friendly shrinkable lidding films like biaxially oriented polyethylene terephthalate (BOPET) and biaxially oriented polypropylene (BOPP). Recently many companies are likely to add BOPET and BOPP to their product portfolio.

DRIVING FACTORS

Increasing demand for shrinkable films to Increase the market growth

The rising demand for shrinkable films in the packaging market will play a crucial factor in the market growth. This on-growing demand for the product is attributed to its beneficial characteristics like ease to handle, lightweight, long shelf life, and strong expanding graphic capacity.

All these benefits make the shrinkable lidding films market an ideal choice as compared to the rigid packaging solutions. Apart from this, the demand for shrinkable lidding films finds its high adoption in the pharmaceutical and food and beverages industries owing to its increasing use of frozen meals, cake mixes, and ready-to-eat meals and snack foods.

RESTRAINING FACTORS

Strict government related to plastic use will affect the market growth

The strict government rule related to the increase in the emissions of carbon dioxide is prohibiting the adoption of plastics in different applications. Not only this but also the pollution that is created by plastics affect the environment which causes harm to animals, plants, and human. Due to all these factors, the governments of all the countries are taken strict rules and regulations.

SEGMENTATION

By Raw Material Analysis

Polyester Segment Holds the Highest Share

On the basis of raw material, the market is segmented into polyester, polypropylene and others. The polypropylene segment is further sub-segmented into CPP and BOPP. In the same way, the polyester/BoPET segment is segmented into thick film and thin film. The polyester segment is anticipated to witness significant growth owing to the huge demand for packaging material. BoPET based films are basically biodegradable and provide an eco-friendly solution.

By Application Analysis

Packaging Segment Dominates the Market

On the basis of application, the global shrinkable lidding films market is segmented into industrial, packaging and others. Among these, the packaging segment is estimated to hold highest market share over the forecast period.

Apart from this, the increase in the consumption of these films in the packaging industry is anticipated to the rise in the demand for food packaging with various products like medical equipment, packaged food, clothes and electronic products.

REGIONAL INSIGHTS

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Based on the regional segment, the global shrinkable lidding films market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Among all the regions, Asia Pacific witnessed rapid growth owing to the increasing adoption of polyester-based shrinkable lidding films in packaging solutions. Not only this but also the government have taken various initiatives for reducing plastics waste which will boost the demand for BOPP films.

Europe holds the second-largest share in the market owing to the huge demand for the product for protecting the automotive parts in France and Germany. Apart from this, the rising demand for electronic products such as sensors and LCDs will boost the market growth in North America. This region is also witnessing increasing research and development activities for the new product launches that will boost the product demand.

Lastly, the Middle East and Africa are also forecasted to witness rapid growth owing to rising demand for packaging of textile, food and medicinal products.

KEY INDUSTRY PLAYERS

Market expansion and partnership for distribution networks and developments are the main strategies of the market leaders

Product innovation, as well as partnerships with vendors for improving the sales networks, are the key strategies planned by the market leaders for maintaining their market position. Currently, Mondi Group is one of the leading market players that is operating in the global market and is famous for paper and packaging products.

LIST OF KEY COMPANIES PROFILED:

  • Mondi Group
  • Bemis Company Inc.
  • Innovia Films
  • LINPAC Group
  • Amcor Ltd
  • Jindal Poly Films Ltd
  • CHIRIPAL POLY FILM
  • Uflex Limited

KEY INDUSTRY DEVELOPMENTS

Cosmo Films developed a BOPP based transparent thermal lamination film which is made by using an antimicrobial technology that helps in tackling the problems related to bacterial infections on packaged items.

Global Shrinkable Lidding Films Market

REPORT COVERAGE

An Infographic Representation of Shrinkable Lidding Films Market

Report Segmentation

Table

Report SegmentationTable
In the global shrinkable lidding films industry, what are the most important regional markets? 

FAQs

  • What is the market segmentation based on type?
  • What is the market segmentation dependent on end-user?
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  • What are the major drivers and threats in the global market?
  • Who are the main players in the global industry and what is their structure?
  • What level of rivalry does the global industry have?
  • What are the profit margins in the industry?

Objectives of this report:

  • To estimate the market size for the shrinkable lidding films market on a regional and global basis.
  • To identify major segments in the shrinkable lidding films market and evaluate theirmarket shares and demand.
  • To provide a competitive scenario for the shrinkable lidding films market with major developments observed by key companies in the historic years.
  • To evaluate key factors governing the dynamics of the shrinkable lidding films market with their potential gravity during the forecast period.

Reasons to Buy This Report:

  • It provides niche insights for a decision about every possible segment helping in the strategic decision-making process.
  • Market size estimation of the shrinkable lidding films market on a regional and global basis.
  • A unique research design for market size estimation and forecast.
  • Identification of major companies operating in the market with related developments
  • Exhaustive scope to cover all the possible segments helping every stakeholder in the shrinkable lidding films market.

Customization:

This study is customized to meet your specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country
  • Product Specific Competitive Analysis

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