PET Shrink Films Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: Jul 2022

Pages: 126

SKU: IRTNTR73977

Snapshot

The PET shrink films market share is expected to increase by USD 509.56 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.07%.

This PET shrink films market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers PET shrink films market segmentation by end-user (food and beverage, industrial packaging, personal care and cosmetics, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The polyethylene terephthalate (PET) shrink films market report also offers information on several market vendors, including Allen Plastic Industries Co. Ltd., allfo GmbH and Co. KG, Berry Global Inc., Bonset America Corp., BUERGOFOL GmbH, Coveris Management GmbH, FLEXOPACK SA, Flint Group, HUBEI HYF PACKAGING Co. Ltd., KUPLAST MATEJKA KUMAR SP, Kyungwon Hwaseong Co. Ltd., Plastic Suppliers Inc., Polyplex Corp. Ltd., Premiumpack GmbH, Schur Flexibles Holding GesmbH, The Dow Chemical Co., Triton International Enterprises Inc., Vintech Polymers Pvt. Ltd., Winpak Ltd., and KP Holding GmbH and Co. KG among others.

What will the PET Shrink Films Market Size be During the Forecast Period?

Download Report Sample to Unlock the PET Shrink Films Market Size for the Forecast Period and Other Important Statistics

PET Shrink Films Market: Key Drivers, Trends, and Challenges

The rising demand for packaged food and beverage products is notably driving the PET shrink films market growth, although factors such as volatility in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the PET shrink films industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key PET Shrink Films Market Driver

The rising demand for packaged food and beverage products is one of the key drivers fueling the PET shrink films market growth.
The food products need to be packaged in durable packages to retain their quality and taste. Meanwhile, the rising demand for food packaging has encouraged vendors to introduce innovative packaging designs and materials to protect food products from contamination and increase their customer base.
Companies are looking for new and creative ways of displaying products on their shelves to attract customers. Over the years, the designs and materials used in food packaging have become complex.
PET is one of the widely used materials for shrink wrapping because it can be produced in a range of different densities and modified with additives to perform many functions.
PET shrink films are utilized to bundle smaller pieces as well as lumber. They are also used to manufacture supermarket tray wraps. Such wide applications of PET will drive market growth during the forecast period.

Key PET Shrink Films Market Trend

Increased use of LLDPE over other forms of polyethylene is one of the key polyethylene terephthalate (PET) shrink films market trends propelling the market growth.
LLDPE, LDPE, and HDPE are some of the commonly used polyethylene forms to manufacture PET shrink films for packaging and non-packaging purposes.
LLDPE is widely accepted in the market due to its advantages, such as flexibility, over other polyethylene materials and has improved mechanical strength, comfortability, and excellent optical strength.
LLDPE is one of the most preferred polyethylene materials to produce thin-down gauged low-density films. Moreover, end-user industries can save up to 15-20% material without compromising on product performance by using low-gauged PET packaging films for automatic and semi-automatic uses.
LLDPE is recyclable and highly durable, flexible, and less brittle when compared with HDPE and LDPE. Such factors of LLDPE will increase its use in the production of plastic films, which will fuel the growth of the market during the forecast period.

Key PET Shrink Films Market Challenge

Volatility in raw material prices is one of the factors hindering the PET shrink films market growth.
Prices of raw materials used to manufacture PET shrink films are highly unpredictable mainly due to the high dependence on crude oil prices.
Various substrates, including polymers, resins, and additives, are commonly used to produce PET shrink films. However, the price volatility of petroleum-based raw materials and the increasing demand for PET shrink film products in developing economies are hindering the growth of the global PET shrink films market.
A decline in crude oil prices in recent years prompted players in the oil and gas industry to implement cost-cutting measures, such as workforce layoffs and rig idling.
Fluctuations in raw material prices can lead to unpredictability in the market, affect production costs adversely, and reduce vendors' profit margins. This, in turn, will hinder the market growth during the forecast period.

This PET shrink films market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global polyethylene terephthalate (PET) shrink films market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the PET shrink films market during the forecast period.

Who are the Major PET Shrink Films Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

This statistical study of the polyethylene terephthalate (PET) shrink films market encompasses successful business strategies deployed by the key vendors. The PET shrink films market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.

Product Insights and News

Polyplex.com - The company offers Transverse Direction Orientation shrink films which are designed to be used in the application of dry and liquid beverages such as powdered drinks, juices, and smoothies.
Earthfirstfilms.com - The company offers polyethylene terephthalate shrink labels which are designed to be use as pack containers glass bottles and cans.
Premiumpack.at - The company offers sarafil high shrinkable polyethylene terephthalate films which are designed for outer sleeve wrapping and label applications of metal cans, glass and plastic bottles.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The PET shrink films market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

PET Shrink Films Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the polyethylene terephthalate shrink films market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for PET Shrink Films Market?

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47% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for PET shrink films market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The steady rise in the production of end-products for domestic use as well as exports will facilitate the PET shrink films market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 adversely impacted the regional market growth. However, in 2021, restrictions were removed from various end-user industries due to the initiation of the COVID-19 vaccination drives that led them to operate smoothly with the resumption of activities, which increased the demand for PET shrink films. Hence, such factors are expected to fuel the growth of the market during the forecast period.

What are the Revenue-generating End-user Segments in the PET Shrink Films Market?

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The polyethylene terephthalate shrink films market share growth by the food and beverage segment will be significant during the forecast period. PET shrink film wraps are versatile packaging materials and can be used in the packaging of a variety of confectionery products, such as muffins, cookies, candies, and other confectionery products. PET shrink films are widely used in food and beverage packaging due to their high strength and durability. They are suitable for the packaging of heavy loads and protect the cargo during warehousing, logistics, and distribution. Such factors will drive the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the polyethylene terephthalate shrink films market size and actionable market insights on post COVID-19 impact on each segment.

PET Shrink Films Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 6.07%
Market growth 2022-2026	$ 509.56 million
Market structure	Fragmented
YoY growth (%)	5.41
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 47%
Key consumer countries	US, China, India, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Allen Plastic Industries Co. Ltd., allfo GmbH and Co. KG, Berry Global Inc., Bonset America Corp., BUERGOFOL GmbH, Coveris Management GmbH, FLEXOPACK SA, Flint Group, HUBEI HYF PACKAGING Co. Ltd., KUPLAST MATEJKA KUMAR SP, Kyungwon Hwaseong Co. Ltd., Plastic Suppliers Inc., Polyplex Corp. Ltd., Premiumpack GmbH, Schur Flexibles Holding GesmbH, The Dow Chemical Co., Triton International Enterprises Inc., Vintech Polymers Pvt. Ltd., Winpak Ltd., and KP Holding GmbH and Co. KG
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this PET Shrink Films Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive PET shrink films market growth during the next five years
Precise estimation of the PET shrink films market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the PET shrink films industry across APAC, North America, Europe, South America, and Middle East and Africa
A thorough analysis of the market’s comPETitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of PET shrink films market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

5.1 Market segments
- Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user
- Exhibit 26: Chart on Comparison by End-user
- Exhibit 27: Data Table on Comparison by End-user

5.3 Food and beverage - Market size and forecast 2021-2026
- Exhibit 28: Chart on Food and beverage - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Food and beverage - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Food and beverage - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Food and beverage - Year-over-year growth 2021-2026 (%)

5.4 Industrial packaging - Market size and forecast 2021-2026
- Exhibit 32: Chart on Industrial packaging - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Industrial packaging - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Industrial packaging - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Industrial packaging - Year-over-year growth 2021-2026 (%)

5.5 Personal care and cosmetics - Market size and forecast 2021-2026
- Exhibit 36: Chart on Personal care and cosmetics - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Personal care and cosmetics - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Personal care and cosmetics - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Personal care and cosmetics - Year-over-year growth 2021-2026 (%)

5.6 Others - Market size and forecast 2021-2026
- Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.7 Market opportunity by End-user
- Exhibit 44: Market opportunity by End-user ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 North America - Market size and forecast 2021-2026
- Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026
- Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 India - Market size and forecast 2021-2026
- Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)

7.11 Germany - Market size and forecast 2021-2026
- Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.12 UK - Market size and forecast 2021-2026
- Exhibit 86: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption

9.4 Industry risks
- Exhibit 94: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 95: Vendors covered

10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification

10.3 Allen Plastic Industries Co. Ltd.
- Exhibit 97: Allen Plastic Industries Co. Ltd. - Overview
- Exhibit 98: Allen Plastic Industries Co. Ltd. - Product / Service
- Exhibit 99: Allen Plastic Industries Co. Ltd. - Key offerings

10.4 Bonset America Corp.
- Exhibit 100: Bonset America Corp. - Overview
- Exhibit 101: Bonset America Corp. - Product / Service
- Exhibit 102: Bonset America Corp. - Key offerings

10.5 Flint Group
- Exhibit 103: Flint Group - Overview
- Exhibit 104: Flint Group - Product / Service
- Exhibit 105: Flint Group - Key offerings

10.6 HUBEI HYF PACKAGING Co. Ltd.
- Exhibit 106: HUBEI HYF PACKAGING Co. Ltd. - Overview
- Exhibit 107: HUBEI HYF PACKAGING Co. Ltd. - Product / Service
- Exhibit 108: HUBEI HYF PACKAGING Co. Ltd. - Key offerings

10.7 KP Holding GmbH and Co. KG
- Exhibit 109: KP Holding GmbH and Co. KG - Overview
- Exhibit 110: KP Holding GmbH and Co. KG - Product / Service
- Exhibit 111: KP Holding GmbH and Co. KG - Key offerings

10.8 Kyungwon Hwaseong Co. Ltd.
- Exhibit 112: Kyungwon Hwaseong Co. Ltd. - Overview
- Exhibit 113: Kyungwon Hwaseong Co. Ltd. - Product / Service
- Exhibit 114: Kyungwon Hwaseong Co. Ltd. - Key offerings

10.9 Plastic Suppliers Inc.
- Exhibit 115: Plastic Suppliers Inc. - Overview
- Exhibit 116: Plastic Suppliers Inc. - Product / Service
- Exhibit 117: Plastic Suppliers Inc. - Key news
- Exhibit 118: Plastic Suppliers Inc. - Key offerings

10.10 Polyplex Corp. Ltd.
- Exhibit 119: Polyplex Corp. Ltd. - Overview
- Exhibit 120: Polyplex Corp. Ltd. - Product / Service
- Exhibit 121: Polyplex Corp. Ltd. - Key offerings

10.11 Triton International Enterprises Inc.
- Exhibit 122: Triton International Enterprises Inc. - Overview
- Exhibit 123: Triton International Enterprises Inc. - Product / Service
- Exhibit 124: Triton International Enterprises Inc. - Key offerings

10.12 Vintech Polymers Pvt. Ltd.
- Exhibit 125: Vintech Polymers Pvt. Ltd. - Overview
- Exhibit 126: Vintech Polymers Pvt. Ltd. - Product / Service
- Exhibit 127: Vintech Polymers Pvt. Ltd. - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 128: Inclusions checklist
- Exhibit 129: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 130: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 131: Research methodology
- Exhibit 132: Validation techniques employed for market sizing
- Exhibit 133: Information sources

11.5 List of abbreviations
- Exhibit 134: List of abbreviations

in crude oil prices: The volatility of crude oil prices is one of the key challenges in the global commodity chemicals market. The volatility of crude oil prices impacts the pricing strategies and margins of adhesives, sealants, lubricants, oilfield cleaners, polymers, as well as plastic additives. The margins of the commodity chemicals are inherently dependent on the global prices of crude oil, which is one of the key raw materials. Any volatility in the prices of crude oil causes uncertainty in end-use markets and eventually influences the margins of all the key stakeholders, including the vendors in the global commodity chemicals market. These fluctuations adversely affect the profitability, cost of sales, and the ability of vendors to effectively address the demands of consumers.

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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