Polyolefin (POF) Shrink Film Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Polyolefin (POF) Shrink Film Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

  • Transparency Market Research
  • Ongoing
  • Chemicals

Report Description

Polyolefin (POF) is a collaborative term used to denote plastics such as polyethylene (LDPE, LLDPE, and HDPE) and polypropylene. Polyolefin is chemically inert; hence, it is ideal for packaging applications, especially food and beverages. POF shrink film is a highly durable and versatile food packaging material. POF has replaced polyvinyl chloride (PVC) in various packaging applications due to its eco-friendly characteristics, clarity, and high-tensile strength. High strength of POF shrink films offers longer film rolls with thin gauges, which provide less need for change over and increased productivity. POF also exhibits excellent puncture resistance, seal strength, and allows packaging of irregular shapes. POF shrink films are available with cross-link technology, which provides ease of packaging in high speed applications such as software, CDs, DVDs, and labels without compromising on clarity and strength.

Increase in food safety concerns across the world has boosted the usage of POF shrink films, as they are approved by the Food and Drug Administration (FDA) and United States Department of Agriculture (USDA) to be used in direct contact with food items. POF shrink films do not contain toxics and odor. They are cheaper than other substitutes such as carton and wrapping paper. Thus, POF shrink films help reduce the overall packaging cost by 50%. Ease of processing through the automatic shrink wrapping machine reduces the time of packing process. Printability of POF shrink films helps manufacturers label the product; hence, these films are the preferred packaging materials over other substitutes.

The POF shrink film market can be segmented based on type, application, and region. POF films are available in ordinary and cross-linked variation. Cross-linked POF shrink film is anticipated to account for major share of the POF shrink film market during the forecast period. Cross-linked POF are preferred over other packaging materials, as they offer superior properties such as ultra-light gauge, minimal shrink force, excellent machinability, superior clarity, and strong seal along with low cost of packaging.

Prominent applications of POF shrink film include food (fresh and processed), consumer goods, personal care & cosmetics, printing & stationary, and others (multimedia, software, hardware, pharmaceutical, gifts, toys, soaps, sports equipment, and home care). The food application segment constitutes key share of the market, led by the rise in trend of using packaged and frozen food across the globe. Food manufacturers prefer to display food items. POF shrink films provide excellent option for transparent and safe packaging of food items. Furthermore, the FDA and USDA compliance of POF shrink films as approved food grade materials is boosting the food segment.

In terms of geography, Asia Pacific is anticipated to lead the global POF shrink film market owing to the expansion in the food & beverages industry in the region. Increase in import and export activities and rise in demand for low weight packaging materials in emerging economies such as China and India are expected to drive the POF shrink film market in the region during the forecast period. Asia Pacific is anticipated to attract manufacturers for investment and strategic collaborations due to the cheap labor, easy availability of raw materials, and growth in end-use segments. Furthermore, PVC is banned in various countries in Europe. This is likely to impact the consumption of POF shrink films in the region. The POF shrink film market in developed economies such as the U.S., Australia, South Korea, France, and Germany is estimated to expand at a moderate pace during the forecast period.

The POF shrink film market is fragmented. It comprises various global players and local players. Thus, the market is considered to be highly competitive. Innovation, new product launch, and merger & acquisitions are likely to be the preferred business strategies of companies. Collaboration of local players with global companies may be beneficial for market growth in terms of quality upgrade and expansion of geographical reach.

Key players operating in the POF shrink film market include Sealed Air Corporation (the U.S.), Asmaco Packaging Industries (India), PakMarkas, UAB (Lithuania), Syfan USA Corporation (the U.S.), and Intertape Polymer Group (Canada).

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market      

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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