Demand for stretch and shrink film in the U.S. is forecast to rise 3.3% yearly to $2.4 billion in 2015, according the latest study from The Freedonia Group, an industry market research firm.
This increase will be driven by "accelerating demand for product packaging and for the bundling and protection of goods during warehousing and distribution, as well as competitive advantages over other packaging materials," said the study.
Other drivers of stretch and shrink film will be resin and machinery improvement, and opportunities in areas such as stretch hoods and stretch labels and sleeves. Stretch film demand will increase 2.8% annually through 2015 to $1.4 billion, accounting for almost three-fifths of the total. The fastest growth is anticipated for stretch hoods due to their cost advantages, high throughput rates and excellent load integrity and weather protection.
Stretch and shrink film demand on the rise