The market for cling films is expected to grow at a CAGR of over 4% during the forecast period. One of the major factors driving the market studied is the increasing demand for hygienic food packaging. However, low resistance to extreme weather conditions is likely to restrain the market growth.
- Increasing preference for packaged food is also likely to boost demand during the forecast period.
- The application of bio-based cling films for sustainable food packaging is likely to act as an opportunity for market growth in the future.
- North America dominated the global market. However, Asia-Pacific is likely to witness the growth rate during the forecast period.
Key Market Trends
Cast Cling Films to Witness the Highest Growth Rate
- In the production of cast film, the resin is extruded through a linear die and oozes out onto large diameter chilling rollers. Depending on the original thickness of extrusion, sometimes a film is thinned to the target gauge by winding the resulting film faster than it is extruded.
- The cost of production of cast cling films is much lesser than that of blow cling film and the production rate per man-hour is more that of cast cling film.
- Cast cling films are naturally clingy on both sides and can make pallets stick together.
- These films are perfectly clear and are easily stretchable, even after applied to a pallet, which can cause shifting.
- Superior advantages of cast cling films are excellent load retaining capability, high film puncture, and tear resistance. They offer significant performance with cost savings, which makes them suitable for various applications, such as food packaging, healthcare packaging, and consumer good packaging, thus, enhancing the demand for cast cling films over the forecast period.
Asia-Pacific to Dominate the Market Growth
- Asia-Pacific is likely to witness the highest growth demand for cling films owing ot their increasing usage in food packaging sector of emerging economies, including China, India, and Indonesia.
- China is likely to lead Asia-Pacific in terms of demand for cling films. With the growing trend of packaged food products, there has been a significant increase in the demand for cling films in the country.
- They are majorly required for the packaging of fruits, vegetables, sandwiches, and raw meat, since the film helps in preservation of food and prevention of contaminants.
- The demand for cling films also witnessed a rapid growth from the healthcare sector. With the increasing investments in the healthcare, the market for cling films in the country is likely to be benefitted in the coming years.
- Therefore, considering the aforementioned factors, Asia-Pacific is likely to witness the highest growth rate during the forecast.
The market for cling films is partially consolidated in nature. The major players are Berry Global Inc., Anchor Packaging Inc., Intertape Polymer Group, 3M, and ITS B.V, amongst others.
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