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The polyolefin (POF) shrink film market share is expected to increase to USD 1.45 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.55%.
The report extensively covers polyolefin (POF) shrink film market segmentations by teh following:
The polyolefin (POF) shrink film market report offers information on several market vendors, including Allen Plastic Industries Co. Ltd., Bagla Group, Berry Global Inc., Bollore SE, Clysar LLC, Exxon Mobil Corp., Flexi Pack Ltd., Four Star Plastics, Harwal Group, Hubei HYF Packaging Co. Ltd., Intertape Polymer Group Inc., LyondellBasell Industries NV, POF Shrink Films and Bolts Nuts Washers, SABIC, Sealed Air Corp., Sigma Plastics Group, Sonoco Products Co., SupplyOne Inc., Syfan Saad, and UAB PakMarkas among others.
This polyolefin (POF) shrink film market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
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The POF products are recyclable is notably driving the polyolefin (POF) shrink film market growth, although factors such as fluctuation 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 polyolefin (POF) shrink film industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Polyolefin (POF) Shrink Film Market Driver
The POF products are recyclable is one of the key drivers supporting the polyolefin (POF) shrink film market growth. Recycling low-cost bulk polymers, such as POF, is assumed to be a waste of time and resources when they are used only for recovering energy. Several lifecycle assessments have proven that it is also valuable to materialize these recycled bulk polymers. Moreover, POF is easily recyclable, and no harmful vapors are released during the process of heat sealing. This makes it the preferable choice over other plastics and shrinks films that can be harmful to the environment. Once the recycling process has taken place, it is termed recycled POF film. It is environment-friendly and is entirely made up of recycled granulates. This process takes place quite safely without jeopardizing the properties of POF films. Such factors will drive the polyolefin (POF) shrink film market growth during the forecast period.
Key Polyolefin (POF) Shrink Film Market Trend
The increasing use of bio-based POF is one of the key polyolefin shrink film market trends that is contributing to the market growth. The implementation of bio-based, renewable, and sustainable materials for industrial application is being pursued continuously by multiple research entities and manufacturing companies. For example, the effective separation of carbon dioxide from sugarcane plantations, which is then converted to green POF, reduces greenhouse gas emissions. Manufacturers, consumers, and government officials are combining efforts to promote the development and acceptance of such products. The bio-based POF shrink film market is expected to witness growth in APAC during the forecast period due to the increasing popularity of bio-based products.
Key Polyolefin (POF) Shrink Film Market Challenge
Fluctuation in raw material prices is one of the factors hindering the polyolefin (POF) shrink film market growth. The POF shrink film market is subject to fluctuations in raw material and energy prices. In the past few years, crude oil and natural gas were comparatively stable in terms of supply and demand. In mid-2014, the Organization of Petroleum Exporting Countries (OPEC) announced that crude oil production volume would not reduce to compensate for the crude oil supply/demand across the world, which eventually led to the rapid decline of crude oil prices. However, raw material price fluctuation, especially for crude oil-based feedstock, will hinder the global polyolefin shrink film market growth during the forecast period.
This polyolefin (POF) shrink film 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.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the polyolefin shrink film market encompasses successful business strategies deployed by the key vendors. The polyolefin shrink film market is fragmented and the vendors are deploying growth strategies such as product customization, product differentiation, and price differentiation to compete in the market.
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 polyolefin shrink film 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.
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39% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the POF market in APAC. Market growth in this region will be slower than the growth of the market in Europe.
The steady rise in production of domestic use products will facilitate the POF 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 had adversely impacted the POF shrink film market. However, in Q3 2021, owing to the initiation of mass COVID-19 vaccination drives, most of the restrictions on industrial operations were removed, which led to the resumption of commercial and industrial activities and increased the demand for polyolefin (POF) shrink films. Hence, the demand for POF is expected to grow during the forecast period.
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The polyolefin (POF) shrink film market share growth by the industrial packaging segment will be significant during the forecast period. Another segment offering significant growth opportunities to the vendors is food. POF shrink film is one of the most popular films used for wrapping meat products. It is often chosen because of the ability to print on the film. There are numerous frozen food products that come in POF shrink film packaging. Many frozen food producers prefer to use shrink films because of the strong and durable seal it offers, in addition to the moisture barrier. Moreover, many companies selling frozen pizza choose to shrink film wraps because of their ability to offer a wrinkle-free fit as well as excellent clarity in the display of the products. 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 POF market size and actionable market insights on post COVID-19 impact on each segment.
Technavio categorizes the global polyolefin shrink film 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 polyolefin (POF) shrink film market during the forecast period.
Our report provides extensive information on the value chain analysis for the polyolefin shrink film 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.
Polyolefin (POF) Shrink Film Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.55% |
Market growth 2022-2026 |
$ 1.45 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.98 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 39% |
Key consumer countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Allen Plastic Industries Co. Ltd., Bagla Group, Berry Global Inc., Bollore SE, Clysar LLC, Exxon Mobil Corp., Flexi Pack Ltd., Four Star Plastics, Harwal Group, Hubei HYF Packaging Co. Ltd., Intertape Polymer Group Inc., LyondellBasell Industries NV, POF Shrink Films and Bolts Nuts Washers, SABIC, Sealed Air Corp., Sigma Plastics Group, Sonoco Products Co., SupplyOne Inc., Syfan Saad, and UAB PakMarkas |
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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