The food packaging industry in North America and Europe is witnessing burgeoning growth, which creates a highly conducive environment for expansion of the specialty and high-performance films market, according to a report published by Coherent Market Insights (Seattle, WA).
Contributing to packaging market growth are factors such as low oxygen ready-case technology, vacuum packaging, and oxygen scavenging.
Rising applications for barrier films in solar photovoltaic cell and semiconductors due to moisture resistance and oxidation properties further augment market growth.
The stretch and shrink film market is driven by increased palletizing and shipping activity, as well as growth in consumer spending and retail activity.
Demand will also be supported by improvements in resin and machinery technology, which will expand the range of use of both stretch and shrink films.
As goods are transported over long distances, brand owners expect greater load integrity to keep product damage to a minimum.
Advances in resin technology and application machinery have lowered material and operational costs, allowing more pallets to be wrapped and amplifying film’s competitive advantages over other load-stabilizing methods.
Multilayer stretch and shrink films will continue to make inroads in the market due to greater strength and customization potential.
Multilayer films are also increasingly favored for their down-gauging potential, as they require less material to achieve required mechanical specifications.
LLDPE-based multilayer stretch films for pallet utilization and bundling applications will offer the best opportunities because of increased demand for stronger, thinner films.
Shrink labels are the fastest growing product type, and will continue to grow at a strong pace due to shelf-appeal trends in the packaging industry.
Brand owners are seeking to differentiate their products with eye-catching graphics, promotional material, and unique shapes and sizes.
Shrink labels conform tightly to a variety of shapes, are amenable to a range of printing techniques and inks, and are clear and scuff resistant.
Polyolefin-based shrink labels will offer new growth opportunities, as these are more easily recycled in the PET bottle recycling stream than PVC and PETG.
Demand for shrink film is forecast to expand, driven by performance characteristics such as enhanced shelf appeal with clear, scuff-resistant films and high-quality graphics.
Article source: plasticstoday.com