Polyolefin (POF) Shrink Film Market Report

Polyolefin (POF) Shrink Film Market Analysis By Product (General, Cross-linked), By Application (Food, Beverage, Industrial Packaging, Pharmaceuticals, Consumer Goods), By Region, And Segment Forecasts, 2014 - 2025

Published: September 2017  |  100 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-620-2

Industry Insights

The global polyolefin (POF) shrink film market size was valued at USD 4.50 billion in 2016. The increasing penetration of the product in food, consumer goods, industrial packaging, pharmaceuticals, and beverage application owing to the improved characteristics of the product is expected to drive demand over the forecast period.

The market is expected to witness a significant growth owing to the increasing technological innovations and improved formulations pertaining to the product. Innovative cross-link technology provides the product with high tensile strength, durable heat sealing, and enhanced shrink ability which is expected to be a key aspect driving the market growth.

U.S. polyolefin (POF) shrink film market by product, 2014 - 2025 (USD Million)

U.S. polyolefin (POF) shrink film market

The U.S. cross-linked shrink film accounted for over 78.0% of the overall revenue share in 2016. Higher shrinkage as compared to its counterpart and improved durability fit for sharp corners or edges of the product are expected to drive demand for the product over the forecast period. Also, enhanced impact resistance is likely to have a positive impact on the market growth.

Constant R&D in the industry with regards to improving the physical properties, aesthetic features, and processing durability is expected to augment the adoption of the product in application industries. In addition, higher resistance to temperature fluctuations, enhanced seal quality and high tear resistance during the packaging is likely to complement growth.

High clarity, and excellent print capabilities of the films has improved the product marketability and increased the used of the product in labels. The consumer goods industry widely uses printed packaging films to advertise their products, which is likely to propel the growth of the product in application industries.

The companies in the industry are highly competitive and compete on the basis of the quality of the product manufactured and in terms of regional expansion. Widespread distribution channels of the major players benefit the company in catering to the global industry and provide optimum quality services to its customers.

Product Insights

General POF shrink films have good optical properties and high & balanced TD/MD shrinkage which is in the range of 40% to 70%. The product offers low to medium stiffness at a lower cost as compared to its counterpart. As a result, the product dominates the market in the developing countries including Brazil, India and China.

Cross-linked shrink film permits a lower amount of residue on sealers and promotes longer sealing blade life offering enhanced clarity to display packaged products. As a result, the product finds applications in the packaging of business cards, baked goods, light uniform products, toys, and crafts.

The cross-linked POF films offer various advantages over standard films including total protection, hygiene, instant identification, prolonged shelf life, which is expected to propel the growth of cross-linked POF shrink film market. North America is the mature market with cross-linked POF films contributing for over 70% of the revenue share.

Application Insights

The POF shrink film is used in several application industries including food, beverage, industrial packaging, pharmaceuticals and consumer goods. In addition, it finds applications in cosmetics & toiletries, multimedia, packaging of toys & sporting goods and promotional items. Increasing use of the product in the food industry is expected to drive demand.

There is a high demand for fresh produce, and ready-to-eat products among the consumers are developed and developing economies. As POF packaging is widely used for food packaging, the demand for the product is expected to grow in fresh and packaged food applications over the forecast period.

Global polyolefin (POF) shrink film application market by region, 2016 (%)

Global polyolefin (POF) shrink film market

Industrial packaging is expected to grow at a CAGR of 5.9% in terms of revenue on account of the growing demand from construction and automotive industries. Tidy, durable and waterproof packaging solution offered by the POF films is expected to propel the product demand in industrial packaging applications over the forecast period.

Regional Insights

The industry in Asia Pacific is driven by the increased demand for the product in packaged foods, and consumer goods in emerging economies including China, which accounts for majority revenue share in the region. Growing penetration of the product in the construction industry is expected to have a positive impact on the market growth.

North America accounted for 23.5% of the revenue share in 2016. Increasing demand the product for various consumer goods packaging such as toys, furniture, recreational boats, sporting goods, musical instruments, and home appliances is expected to drive the market for POF films over the forecast period.

The rapid growth of medical and pharmaceutical industries in developed economies of Europe is expected propel the demand for pharmaceutical products. In addition, increasing penetration of polyolefin (POF) shrink films in the pharmaceutical packaging is expected to drive the demand for the product market over the projected period.

Competitive Insights

The companies invest in R&D projects to enhance the formulations of the polyolefin films. Established players including Sealed Air Corporation compete in terms of innovation, new product development abilities and offering high-performance packaging solutions.

Players in the industry compete on the basis of improved cross-linking technology for food and display applications. The industry constitutes a large number of small-scale industry players catering to the local market. However, the major players target developing economies in search for potential markets.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Volume in kiloton, revenue in USD million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Germany, UK, China, India, Japan, Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global polyolefin (POF) shrink film market on the basis of product, application, and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • General

    • Cross-linked

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Food

    • Beverage

    • Industrial packaging

    • Pharmaceuticals

    • Consumer goods

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
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