Polyolefin (POF) is a term used for plastics such as Polypropylene (PP) and Polyethylene (PE). These shrink films possess various properties such as high tensile strength, seal strength, and puncture resistance. They are chemically inert, therefore are used widely in packaging applications, particularly in the food and beverages sector. The product can be classified into general POF shrink film and cross-linked POF shrink films.
High Strength Films for Packaging
Polyolefin shrink film can be used in various industries including food and beverages, pharmaceuticals, consumer goods, and industrial packaging. Rising demand for packaged food like snacks, frozen meals, and Ready-To-Eat (RTE) meals due to changing lifestyle and growing popularity of quick service restaurants can drive the segment over the forecast period (from 2018 to 2025). Rising demand for alcoholic, non-alcoholic, and carbonated beverages is also likely to boost the product demand as it can be used to make plastic cans and bottles using clear and printed films.
In 2016, industrial packaging estimated for 26.4% of the total revenue share due to high demand in automotive and construction sectors. In terms of revenue, the segment is likely to expand at a CAGR of 5.9% over the forecast period. The POF films can offer durable, tidy, and waterproof solution, which is anticipated to increase the product demand in this segment in the coming years. Taghleef Industries (Ti) presented a new floatable shrink film called TDS at Labelexpo Europe 2017 for TD shrink sleeve lables, which is a low-density POF polymer that reduces the weight of the lable. It can be used for 360-degree label designs. The company also presented an antibacterial film that could offer an additional layer for protecting personal care products.
Market Overview
According to Grand View Research, Inc., the worldwide Polyolefin (POF) shrink film market is predicted to achieve USD 7.4 billion by 2025. Factors such as increasing demand for product due to its better barrier properties, greater airtight sealings, high gloss finish and ease of printing can drive the market during the projected period. In addition, technological advancements and introduction of innovative cross-link technology, which provides durable sealing and better shrink ability, are also likely to fuel the market growth.
In 2016, Asia pacific accounted for 35.7% of the overall revenue share due to high demand in consumer goods packaging industry in the emerging countries of the region. Some of the leading companies operating in this market are China Petrochemical Corporation; PakMarkas UAB; Intertape Polymer Group (IPG), Inc.; Riverside Paper Co. Inc.; and PakMarkas UAB.
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2 comments:
Very informative,Thanks for sharing
Parker Shaft Seals
Great information on Shrink films
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