Over the recent past, global packaging industry has focused on developing and adopting packaging solutions that address specific needs of the product that is to be packaged, so also effect overall packaging cost and weight savings. Shrink wrapping technology is one such cost effective packaging technology which has been adopted across a diverse set of industries including food, beverages and pharmaceuticals. It involves loosely wrapping a polymeric shrink film on the product that is to be packed and subsequently subjecting the same to heat with the help of a shrink tunnel. Heat thus applied results in alteration in molecular reorientation which eventually results in film shrinkage and a snug fit with the product. Shrink tunnels are basically heat chambers that are placed over a conveyer. Depending on the principle used to heat the film, shrink wrap tunnels may be radiant heat tunnels which use infrared radiation for heating the film, or steam shrink wrap tunnels that employ steam to effect film heating. A third variant of shrink wrap tunnels involves hot air circulation are termed as convective shrink wrapping tunnels. Demand for shrink wrap tunnels is expected to be driven by increasing adoption of shrink wrap technology for packaging especially across developing geographies of the globe.
Shrink Wrap Tunnels Market Dynamics: Drivers, Opportunities, & Restraints
One of the major growth driving factors for global shrink tunnels market are the economic benefits such as cost, material, time and weight savings associated with the use of this technology vis-à-vis conventional packaging. Besides economic benefits shrink wrapping also entails certain functional benefits such as ensuring ease of handling and durability of the package. Thus growing preference for adoption of shrink wrapping technology is expected to propel shrink wrap tunnels market over the forecast period. Beverage industry is one of the major industries that has employs shrink wrap technology for packaging. Growth of global beverage industry is thus expected to in turn result in a steady growth of global shrink wrap tunnels market over the forecast period. However, shrink wrap technology is one among many alternatives available for packaging. Growth in adoption of technologies such as vacuum wrapping may impede growth of global shrink wrap tunnels market during the forecast period.
Shrink Wrap Tunnels Market Dynamics: Segmentation
Depending on the technology used, global shrink wrap tunnels market can be segmented in to following three key market segments:
On the basis of the end use industry, global shrink wrap tunnels market can be segmented in to following key market segments:
Shrink Wrap Tunnels Market Dynamics: Regional Outlook
Depending on geographical regions, global packaging machines market can be divided into seven key regions namely North America, Latin America, Western and Eastern Europe, Asia-Pacific, Japan, Middle East & Africa. Amongst the aforementioned regions, shrink wrap tunnels market in Asia-Pacific, home to nearly 60% of global populace, is expected to witness a relatively faster growth in terms of market value during the forecast period. Growth in food and beverage industry in this region is expected to emerge as key growth driving factor for shrink wrap tunnels market over the forecast period.
Shrink Wrap Tunnels Market Dynamics: Key Players
Some of the global shrink wrap tunnels market participants include
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