Stretch hood films are expected to grow in demand between 2020 and 2027. According to market research, the market would grow at a CAGR of 7.40 percent between 2020 and 2027, reaching USD 1292.4 million. Stretch hood film’s market growth is being pushed by the increasing automation in the packaging sector.
There will be an increase in demand for stretch hood films over the 2020-2027 projection period from industries like cosmetics, food & beverage and pharmaceuticals because to the ease of application and low cost. It is expected that demand for stretch hood films will continue to climb in the next years as a consequence of technological developments, faster packaging choices, rising demand owing to its improved moisture/dust resistance features, and the capacity to wrap different-sized pallets. In the next years, demand for stretch hood films is likely to rise steadily, thanks in part to the rising industries in emerging nations and the broadening range of businesses that are turning to them.
Traditional packaging solutions such shrink wraps, film wraps, and containers are expected to provide a significant obstacle to the growth of the stretch hood films market from 2020 to 2027, due to a lack of plastic recycling technologies and various regulatory changes.
This stretch hood films market research includes information on trade restrictions, import and export analysis, production analysis, value chain optimization, market share, and the influence of domestic and localised market competitors. Opportunities for new revenue sources and changes in rules are also examined.
The scope and size of the global stretch hood film market
It is possible to divide the global market for stretch hood films into three main categories: material, thickness, and end use.
You may learn about the many growth drivers likely to be prominent in the market and develop different tactics to help discover primary application areas and differences in your target markets as a result of the growth in different sectors.
This market for stretch hood films is broken down into polyethylene, plastomers, elastomers, and others. An LLDPE is a kind of polyethylene that may be further subclassified into HDPE and LDPE.
According to thickness, stretch hood films are classified as thin as 50 microns, thick as 100 microns, thicker than 150 microns, and thicker than 150 microns.
Pharmaceuticals, cosmetics, food and beverage, home care, and other industries are among the stretch hood films market’s end users.