PET Shrink Film Market Size, Analysis, Share & Forecast 2030
PET Shrink Film Market Size, Analysis, Share & Forecast 2030
Segments - Global PET Shrink Film Market By Type (Low Shrink Films, Medium Shrink Films, And High Shrink Films), By End User (Food & Beverages, Industrial Applications, Personal Care & Cosmetics, Printing & Stationery, And Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
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Report Description
PET Shrink Film Market Outlook
The global PET shrink film market was valued at USD 1,034.6 Million in 2019 and is projected to reach USD 1,705.3 Million by 2027, expanding around a CAGR of 6.6% during the forecast period 2020 - 2027. In terms of volume the PET shrink film market is anticipated to grow approximately by CAGR of 5.3% over the coming years. Polyethylene terephthalate (PET) is a thermoplastic polymer resin of the polyester family.
It is a clear and tough material, which has excellent water and moisture barrier properties. It is majorly used by various industries such as food and beverages for packaging of food products such as bakery and processed food and beverages including healthy drinks, juices, and soft drinks.
PET Shrink Film Market Dynamics
The food & beverage segment is driving the PET shrink film market, due to increased demand for this packaging of meat, vegetables, and fruit packaging products. Growth of the market is attributed to an increase in food & beverage consumption due to rise in consumer disposable income, population growth, and easy availability of product on various channels of distribution.
The PET shrink film market is growing significantly due to the high demand for these films for packaging, preserving, and bundling of products during distribution and warehousing. Increasing global emphasis on the usage of sustainable packaging materials and the growth of organized retail sectors are key drivers of the packaging and labels industries. Polyolefin material can be a substitute for PET shrink material due to its high tensile strength and superior resistance over PET films.
Polypropylene shrink films have high heat resistance and good transparency as compared to PET shrink films. PET is an eco-friendly material which can be recycled. It is also one of the most widely recycled plastic globally. Growing adoption of eco-friendly packaging material is likely to create growth opportunities in the PET shrink film market during the forecast period.
PET Shrink Film Market Segmental Outlook
Types Segment Analysis
On the basis of type, the global PET Shrink Film Market is segmented as low shrink films, medium shrink films, and high shrink films. The medium shrink film segment is anticipated to expand at a CAGR of around 6.3% during the forecast period as commonly used in packaging food and cosmetics products. The low shrink films segment is estimated to hold 32.4% share of the market in 2019 as it is used for packaging of heat sensitive electronics products. The high shrink film segment is estimated to hold significant share of the market in 2021 it is eco-friendly materials can be used to replace the PVC shrink films
End-User Segment Analysis
Based on end-users, the market is segmented into food & beverages, industrial applications, personal care & cosmetics, printing & stationery, and others. Food & beverage account for the major share as PET film plays a vital role in the food and beverages industry, as it is majorly used for the packaging of several food products such as dairy and bakery products, takeaway food, processed food, meat, and beverages. PET film is used for the packaging of stationary materials such as books, art supplies, pen pencils, and others
Definitions
By Type
Low Shrink Film – Low shrink film are the low temperature film. These films do not require too much heat for faster shrinking and sealing also it reduces the sealing time, and increase the production capacity. The low temperature shrink film can be used for packaging of food products such as candies and chocolates. These films are also used for packaging of heat sensitive electronics products. Feature offered by low temperature shrink film are superior seal strength, low shrink and seal temperature, food safety, and puncture resistance.
Medium Shrink Film – These films include combination of density and strength, and are commonly used in packaging food and cosmetics products. These transparent packaging films can be used for packaging different shapes of bottles and complex containers. These films do not shrink at room temperature during storage and transportation.
High Shrink Film – These films are made of high-density and strength plastics, which are high in quality and performance. These films are used for packaging complex containers, as they have high suction capacity, high gloss and transparency. These are also easy to print and are majorly used in packaging of beverages bottles, food and cosmetics packaging, electronic products. Moreover, eco-friendly materials can be used to replace the PVC shrink films. High shrink films remain stable at room temperature and thus they are ideal for various printing machine, as they have good surface tension.
Regional Outlook
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. In terms of value the region constituted approximately 42.1% share of the market in 2019. The market in the region is projected to expand at a CAGR around 6.7% during the forecast period as there is increase in demand for PET sheets in Asia Pacific, increasing focus of players in development of PET shrink film, rise in government initiatives are some of the factors expected to boost the market growth on the region.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global PET Shrink Film Market
- Historical, Current and Projected Market Size in terms of Value and volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global PET Shrink Film Market Performance
Segments
By Type
- Low Shrink Film
- Medium Shrink Film
- High Shrink Film
By End User
- Food & Beverage
- Industrial Packaging
- Personal Care & Cosmetics
- Printing & Stationery
- Others
By Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Poland
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
Key Market Players Profiled in the Report
- Sigma Plastics Group
- Bemis Company Inc.
- Berry Global, Inc.
- Far Eastern New Century Corporation
- Fuji Seal International Inc.
- Sealed Air Corporation
- The Dow Chemical Company
- Klöckner Pentaplast
- NAN YA PLASTICS CORPORATION
- Anchor Packaging Inc.
- Clysar LLC.
Competitive Landscape
- Key players in the market include Fuji Seal International Inc., Sealed Air Corporation, The Dow Chemical Company, Klöckner Pentaplast. These companies are considered manufacturers of PET shrink film based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
- The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the PET shrink film is added in the company’s capacity.
- In 2017, Berry Global Group completes acquisition of AEP Industries Inc. this action of the company helps them to increase market share. Also helps them to increase product portfolio of the company
Frequently Asked Questions
Additional company profiles can be provided on request.
Yes, the report covers volume details of products.
According to this Growth Market Reports report, the market from PET Shrink Film is likely to register a CAGR of approximately 6.6% during forecast period 2020-2027, with an anticipated valuation of US$ 1699.7million by the end of the 2027.
In addition to market size (in US$ Million)and Company Market Share (in % for base year 2019), other data such as Pricing analysis for year 2017 to 2027 (estimated pricing analysis) is provided, is available in final report.
Increasing application of PET films in the food and beverages and cosmetics industries, rising adoption of processed food, and growing disposable income are key factors driving the PET shrink film market growth.
Food & beverages are the key end-user that are driving the PET Shrink Film Market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to decline between 2019 and 2020 owing to the slight impact of COVID-19 pandemic on the PET shrink film market. The ongoing research of PET Shrink Film for COVID-19 string is expected to decrease the production PET Shrink Film product.
The base year considered for the global PET Shrink Film Market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2021 to 2027.
Major Manufactures include, Sigma Plastics Group, Bemis Company Inc., Berry Global, Inc. Far Eastern New Century Corporation, Fuji Seal International Inc., Sealed Air Corporation, The Dow Chemical Company, and Klöckner Pentaplast.
Table Of Content
Chapter 1 Executive SummaryChapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 PET Shrink Film Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 PET Shrink Film Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.2.4 Market Trends
4.3 PET Shrink Film Market - Supply Chain Analysis
4.4 Global PET Shrink Film Market Size & Forecast, 2017-2027
4.4.1 PET Shrink Film Market Size and Y-o-Y Growth
4.4.2 PET Shrink Film Market Absolute $ Opportunity
Chapter 5 Global PET Shrink Film Market Analysis and Forecast By Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Type
5.1.2 Basis Point Share (BPS) Analysis By Type
5.1.3 Absolute $ Opportunity Assessment By Type
5.2 PET Shrink Film Market Size & Volume Forecast By Type
5.2.1 Low Shrink Film
5.2.2 Medium Shrink Film
5.2.3 High Shrink Film
5.3 Market Attractiveness Analysis By Type
Chapter 6 Global PET Shrink Film Market Analysis and Forecast By End-user
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By End-user
6.1.2 Basis Point Share (BPS) Analysis By End-user
6.1.3 Absolute $ Opportunity Assessment By End-user
6.2 PET Shrink Film Market Size & Volume Forecast By End-user
6.2.1 Food & Beverage
6.2.2 Industrial Packaging
6.2.3 Personal Care & Cosmetics
6.2.4 Printing & Stationery
6.2.5 Others
6.3 Market Attractiveness Analysis By End-user
Chapter 8 Global PET Shrink Film Market Analysis and Forecast by Region
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities by Region
8.1.2 Basis Point Share (BPS) Analysis by Region
8.1.3 Absolute $ Opportunity Assessment by Region
8.2 PET Shrink Film Market Size Forecast by Region
8.2.1 North America
8.2.2 Europe
8.2.3 Asia Pacific
8.2.4 Latin America
8.2.5 Middle East & Africa (MEA)
8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
9.2 Current & Future Impact Analysis
9.3 Economic Impact Analysis
9.4 Government Policies
9.5 Investment Scenario
Chapter 10 North America PET Shrink Film Analysis and Forecast
10.1 Introduction
10.2 North America PET Shrink Film Market Size Forecast by Country
10.2.1 U.S.
10.2.2 Canada
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 North America PET Shrink Film Market Size & Volume Forecast By Type
10.6.1 Low Shrink Film
10.6.2 Medium Shrink Film
10.6.3 High Shrink Film
10.7 Basis Point Share (BPS) Analysis By Type
10.8 Absolute $ Opportunity Assessment By Type
10.9 Market Attractiveness Analysis By Type
10.10 North America PET Shrink Film Market Size & Volume Forecast By End-user
10.2.1 Food & Beverage
10.2.2 Industrial Packaging
10.2.3 Personal Care & Cosmetics
10.2.4 Printing & Stationery
10.2.5 Others
10.11 Basis Point Share (BPS) Analysis By End-user
10.12 Absolute $ Opportunity Assessment By End-user
10.13 Market Attractiveness Analysis By End-user
Chapter 11 Europe PET Shrink Film Analysis and Forecast
11.1 Introduction
11.2 Europe PET Shrink Film Market Size Forecast by Country
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 U.K.
11.2.5 Spain
11.2.6 Russia
11.2.7 Rest of Europe
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Europe PET Shrink Film Market Size & Volume Forecast By Type
11.6.1 Low Shrink Film
11.6.2 Medium Shrink Film
11.6.3 High Shrink Film
11.7 Basis Point Share (BPS) Analysis By Type
11.8 Absolute $ Opportunity Assessment By Type
11.9 Market Attractiveness Analysis By Type
11.10 Europe PET Shrink Film Market Size & Volume Forecast By End-user
11.2.1 Food & Beverage
11.2.2 Industrial Packaging
11.2.3 Personal Care & Cosmetics
11.2.4 Printing & Stationery
11.2.5 Others
11.11 Basis Point Share (BPS) Analysis By End-user
11.12 Absolute $ Opportunity Assessment By End-user
11.13 Market Attractiveness Analysis By End-user
Chapter 12 Asia Pacific PET Shrink Film Analysis and Forecast
12.1 Introduction
12.2 Asia Pacific PET Shrink Film Market Size Forecast by Country
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Australia
12.2.6 South East Asia (SEA)
12.2.7 Rest of Asia Pacific (APAC)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Asia Pacific PET Shrink Film Market Size & Volume Forecast By Type
12.6.1 Low Shrink Film
12.6.2 Medium Shrink Film
12.6.3 High Shrink Film
12.7 Basis Point Share (BPS) Analysis By Type
12.8 Absolute $ Opportunity Assessment By Type
12.9 Market Attractiveness Analysis By Type
12.10 Asia Pacific PET Shrink Film Market Size & Volume Forecast By End-user
12.2.1 Food & Beverage
12.2.2 Industrial Packaging
12.2.3 Personal Care & Cosmetics
12.2.4 Printing & Stationery
12.2.5 Others
12.11 Basis Point Share (BPS) Analysis By End-user
12.12 Absolute $ Opportunity Assessment By End-user
12.13 Market Attractiveness Analysis By End-user
Chapter 13 Latin America PET Shrink Film Analysis and Forecast
13.1 Introduction
13.2 Latin America PET Shrink Film Market Size Forecast by Country
13.2.1 Brazil
13.2.2 Mexico
13.2.3 Rest of Latin America (LATAM)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Latin America PET Shrink Film Market Size & Volume Forecast By Type
13.6.1 Low Shrink Film
13.6.2 Medium Shrink Film
13.6.3 High Shrink Film
13.7 Basis Point Share (BPS) Analysis By Type
13.8 Absolute $ Opportunity Assessment By Type
13.9 Market Attractiveness Analysis By Type
13.10 Latin America PET Shrink Film Market Size & Volume Forecast By End-user
13.2.1 Food & Beverage
13.2.2 Industrial Packaging
13.2.3 Personal Care & Cosmetics
13.2.4 Printing & Stationery
13.2.5 Others
13.11 Basis Point Share (BPS) Analysis By End-user
13.12 Absolute $ Opportunity Assessment By End-user
13.13 Market Attractiveness Analysis By End-user
Chapter 14 Middle East & Africa (MEA) PET Shrink Film Analysis and Forecast
14.1 Introduction
14.2 Middle East & Africa (MEA) PET Shrink Film Market Size Forecast by Country
14.2.1 Saudi Arabia
14.2.2 South Africa
14.2.3 UAE
14.2.4 Rest of Middle East & Africa (MEA)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Middle East & Africa (MEA) PET Shrink Film Market Size & Volume Forecast By Type
14.6.1 Low Shrink Film
14.6.2 Medium Shrink Film
14.6.3 High Shrink Film
14.7 Basis Point Share (BPS) Analysis By Type
14.8 Absolute $ Opportunity Assessment By Type
14.9 Market Attractiveness Analysis By Type
14.10 Middle East & Africa (MEA) PET Shrink Film Market Size & Volume Forecast By End-user
14.2.1 Food & Beverage
14.2.2 Industrial Packaging
14.2.3 Personal Care & Cosmetics
14.2.4 Printing & Stationery
14.2.5 Others
14.11 Basis Point Share (BPS) Analysis By End-user
14.12 Absolute $ Opportunity Assessment By End-user
14.13 Market Attractiveness Analysis By End-user
Chapter 15 Competition Landscape
15.1 PET Shrink Film Market: Competitive Dashboard
15.2 Global PET Shrink Film Market: Market Share Analysis, 2019
15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
15.3.1 Anchor
15.3.2 Bemis Company Inc.
15.3.3 Berry Global, Inc.
15.3.4 Far Eastern New Century Corporation
15.3.5 Fuji Seal International Inc.
15.3.6 Klöckner Pentaplast
15.3.7 NAN YA PLASTICS CORPORATION
15.3.8 Sealed Air Corporation
15.3.9 The Dow Chemical Company
15.3.10 Sigma Plastics Group
15.3.11 Clysar LLC.
Methodology
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