Global Stretch Warp Market Size study & Forecast, by Type (Cast Wrap, Blown Wrap), by Material (Polyethylene (PE), Polyvinyl Chloride (PVC), Polypropylene (PP), Biaxially Oriented Polypropylene (BOPP), Others), by End user (Shipping & Logistics, Food & Be

Global Stretch Warp Market Size study & Forecast, by Type (Cast Wrap, Blown Wrap), by Material (Polyethylene (PE), Polyvinyl Chloride (PVC), Polypropylene (PP), Biaxially Oriented Polypropylene (BOPP), Others), by End user (Shipping & Logistics, Food & Beverage, Agriculture, Building & Construction, Chemical, Household, Others) and Regional Analysis, 2023-2030

Global Stretch Warp Market is valued at approximately USD 4.00 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.68% during the forecast period 2023-2030. Stretch wrap, also known as pallet wrap, is a highly flexible plastic film with significant stretchability, utilized for wrapping various items to ensure tight binding. In contrast, shrink wrap is loosely applied around an object and tightens upon exposure to heat. Technological advancements in flexible packaging formats, compared to rigid alternatives, are fueling the increase in sales of stretch films across various industries requiring safe shipment of equipment. The growth of the shipping and logistics industry has emphasized the importance of meticulous product packaging in shaping a positive brand perception, serving as a major driver in this market.

The expansion and increasing demand within the logistics and shipping industry have also contributed to the growth of the Stretch Wrap Market. According to the International Chamber of Shipping, Annually, ships transport a staggering 11 billion tons of goods, equating to an impressive average of 1.5 tons per person, considering the current global population. The availability and development of various sizes and materials of stretch wraps tailored to the needs of end-users are considered opportunities that drive the growth of the Stretch Wrap Market. Environmental concerns surrounding stretch wraps are being addressed through the development of bio-based materials to achieve sustainability goals. However, the current unavoidable environmental impact stems from their predominant composition of Low-Density Polyethylene, a non-biodegradable plastic contributing to pollution. The diverse range of stretch wraps increases the risk of selecting inappropriate materials or sizes, resulting in resource wastage, including financial and temporal resources.

The key regions considered for the Global Stretch Warp Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the increased purchasing power and globalization leading to international trade between Asian countries which also increases the demand of the Stretch Wrap Market. Asia Pacific is also expected to grow significantly over the forecast period owing to the growth of the pharmaceutical sector in the region experiencing significant growth, attributed to shifting lifestyles leading to heightened diagnoses of ailments such as cancer and cardiac conditions. Consequently, healthcare expenditure across the Asia Pacific has risen accordingly where stretch wraps are used in every drug and medical device packaging.

Major market player included in this report are:
Berry Global, Inc.
Shrinkflex Thailand PCL
Saudi Basic Industries Corporation (SABIC)
Scientex Berhad
Thong Guan Industries Bhd
Dow
Coveris Flexibles UK
POLIFILM GROUP
Swiftpak Limited
Duo Plast AG

Recent Developments in the Market:
 In February 2024, Berry Global announces the inauguration of a new Circular Stretch Film Innovation and Training Center in Tulsa, Oklahoma. This facility now supports the testing and advancement of sustainable, flexible packaging solutions, alongside providing practical training opportunities.
 In March 2024, SABIC and JESSA Hospital made significant progress in the development of circular polymers through advanced recycling methods applied to used medical plastics. The project has demonstrated the feasibility of repurposing uncontaminated used medical plastic through advanced recycling techniques, resulting in the production of medical-grade polymers within SABIC's TRUCIRCLE portfolio.
 In February 2020, Scientex Packaging Film Sdn Bhd investedUSD43 million to establish a stretch film manufacturing facility in Lancaster County, South Carolina. This facility helps the company to rise as a major global competitor.

Global Stretch Warp Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered -Type, Material, End user, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Cast Wrap
Blown Wrap

By Material:
Polyethylene (PE)
Polyvinyl Chloride (PVC)
Polypropylene (PP)
Biaxially Oriented Polypropylene (BOPP)
Others

By End user:
Shipping & Logistics
Food & Beverage
Agriculture
Building & Construction
Chemical
Household
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.