Global Cross-linked Shrink Film Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Cross linking polymers was discovered when the discoverers were searching a way to stabilize the rubber, that they will stabilize the rubber in the mid of 1800's. After years of research, Charles Goodyear discovered vulcanized rubber. The main aim was to stabilize natural rubber from distorting in heat. Goodyear was accidentally melted sulfur and rubber by using hot stove this combination of these two component allowed the rubber to resist higher heats.  The heated rubber which has heated with sulfur changed the chains of polymer within the rubber. The changed polymer chains were the cross linked and it forms as a stronger and durable material. Since the discovery of vulcanization, the advancements in cross linking have changed immensely. Cross linking can be gained with numerous chemical additives which has referred to a chemical cross linking or with irradiation.

Data Bridge Market Research analyses that the cross-linked shrink film market was valued at USD 1472.80 million in 2021 and is expected to reach USD 2209.38 million by 2029, registering a CAGR of 5.20 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Report Scope and Market Segmentation

Market Definition

Shrink films with cross-links are flexible packaging materials which has been utilized for multiple purposes. Polypropylene or Polyethylene (LDPE or HDPE) is used to make cross-linked shrink films. These cross-linked shrink films have some significant properties, such as toughness, outstanding strength, puncture resistance, and tear resistance. Moreover, these films are user-friendly and eco-friendly. Furthermore, these films have transparency and clarity during handling. They are used in various equipment, including sealers, shrink wrappers, and other wrapping machines. Due to their strength and hardness, these films are used for irregular items or sharp edge to protect them, and provide product reliability to packaging.

Cross-linked Shrink Film Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rise in demand due to unique properties

The cross-linked shrink films have exceptional strength, resistance capacity, toughness, high puncture and tear resistance capacity properties which increase the demand of this film in the targeted market. Continuous R&D to improve aesthetic aspects, physical qualities and processing durability is anticipated to increase product acceptance in application industries.

• Increased puncture resistance will act as a driver for market growth

One of the main aids of a cross linked shrink film is increased puncture resistance, enabling users to use thinner film while still gaining the same strength. A thinner film offers a variety of benefits but the main benefit being cost. Thinner shrink film also offers faster sealing, clarity, and shrinking.

Opportunities

• Rise in product innovations

The several product innovations, such as the development of novel variants with high-gloss finish, improved barrier and airtight sealing properties, and ease of printing, are acting as other factors that enhance the market's growth in upcoming years. These alternatives increase the aesthetic appeal of the product and help in improving the effectiveness of the branding and marketing campaigns. 

• Introduction of new product in market

The daily introduction of a new product by the end-use industries produces a growth opportunity for the cross-linked shrink film market. Due to the wide scope offered by cross-linked shrink film, it produces the growth opportunity and some development of products requiring transparency and flexible packaging.

Restraints/ Challenges

The negative impact of COVID-19 outbreak on supply chain and high cost of raw materials will act as market restraint and further challenge the market growth rate. Due to the spread of coronavirus ceased maximum activities, including trading. During this epidemic, trade moments were low, affecting several markets, including demand for cross-linked shrink films. As a result, reduced shipping and operations which led to lower the demand for these films around the globe.

This cross-linked shrink film market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cross-linked shrink film market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cross-linked Shrink Film Market

COVID-19 pandemic affected almost every manufacturing companies except the food and pharmaceutical industries. The spread of the virus leads to the shutting of several activities, including trade activities. Due to pandemic, the moment of trade activities slowed down, which impacted several markets along with the cross-linked shrink films market. During the covid pandemic, the cross-linked shrink films market was not affected due to its large application in the pharmaceutical and food and beverage industry. But, due to reduce in shipping and operation, the demand of cross-linked shrink film was reduced during the forecasted period.

Recent Development

• In April 2021, Clearpack Singapore PTE Ltd., received the prestigious E-50 award for provide a packaging solutions in Singapore for its sustainable business model and innovative solutions.
• In November 2020, Clysar LLC, announced Clysar EVO shrink films and planning for manufacturing sustainable products.

Cross-linked Shrink Film Market Scope

The cross-linked shrink film market is segmented on the basis of materials, products, thickness and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• Polyethylene 
• HDPE
• LDPE
• Polypropylene
• BOPP
• CPP

Product

• Anti-Fog Cross-Linked Shrink Films
• Low-Temperature Cross-Linked Shrink Films

Thickness

• Less than 12 Microns
• 12-15 Microns
• 16-25 Microns
• Above 25 Microns

End-user

• Food and Beverage
• Personal Care and Cosmetics
• Household
• Pharmaceutical

Cross-linked Shrink Film Market Regional Analysis/Insights

The cross-linked shrink film market is analysed and market size insights and trends are provided by country, materials, products, thickness and end-user as referenced above.

The countries covered in the cross-linked shrink film market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

Asia-Pacific dominates the cross-linked shrink film market in terms of market share and revenue during the forecast period. This is due to the increasing demand for cross-linked shrink film in this region. The Asia-Pacific region dominates the cross-linked shrink film market, with China leading the way in terms of import-export of food and beverage products in this region. Due of the ease of import-export of products, China is leading the Asia-Pacific market.

During the projected period, North America is expected to be the fastest developing region due to the high demand of cross-linked shrink film in food and beverages sector in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Cross-linked Shrink Film Market Share Analysis

The cross-linked shrink film market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cross-linked shrink film market.

Some of the major players operating in the cross-linked shrink film market are:

• Intertape Polymer Ltd (US)
• Bollore Group (France)
• Syfan (US)
• SABIC (Saudi Arabia)
• Schlichter GmbH (Germany)
• New Pack Ltd. (UK)
• Ervisa.com (US)
• Bagla Group (India)
• Clearpack Singapore Pte Ltd. (Singapore)
• Shenyang Weiming Technology Co. Ltd (China)
• Zhejiang Zhongcheng Packing Material Co. Ltd. (China)
• HuanYuan Plastic Film Co. Ltd. (China)
• Yorkshire Packaging Systems (UK)
•  WM Technology (US)
• Jiaxing Reliable Packaging Technology Co., Ltd (China)
• Ace Products (US)

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