Global Shrink Wrap Equipment Market, By Type (Semi-Automatic Wrapping Equipment, Fully Automatic Wrapping Equipment), End User Industry (Pharmaceuticals, Food and Beverages, Cosmetics and Personal Care and Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Shrink Wrap Equipment Market
Data Bridge Market Research analyses that the shrink wrap equipment market will project a CAGR of 13.2% for the forecast period of 2021-2028, and will reach USD 3,370.4 million by 2028. Growing preference for adoption of shrink wrapping technology is predicted to propel shrink wrap market over the forecast amount.
Shrink Wrap Equipment involves loosely wrapping a chemical compound shrink film on the merchandise that's to be packed and after subjecting identical to heat with the assistance of a shrink tunnel. Heat therefore applied leads to alteration in molecular reorientation that eventually leads to film shrinkage and a comfortable work with the merchandise. Shrink tunnels square measure essentially heat chambers that square measure placed over a conveyer.
One of the main growth driving factors for world shrink equipment market are the economic edges such as value, material, time and weight savings related to the utilization of this technology vis-à-vis typical packaging. Besides economic edges shrink wrapping additionally entails bound practical edges such as making certain simple handling and sturdiness of the package. So growing preference for adoption of shrink wrapping technology is anticipated to propel shrink wrap equipment market over the forecast amount. Beverage trade is one in all the main industries that has employs shrink wrap technology for packaging. Growth of worldwide drink trade is so expected to successively end in a gentle growth of worldwide shrink wrap equipment market over the forecast period.
However, shrink wrap technology is one amongst several alternatives on the market for packaging. Growth in adoption of technologies like vacuum wrapping could impede growth of worldwide shrink wrap equipment market throughout the forecast amount, fluctuations in the prices of raw packaging materials will create hindrances for the market growth rate. Rising costs of innovative packaging solutions will further dampen the market growth rate. Rising environmental concerns and stringent regulations imposed by the government on the application of plastic will also derail the market growth rate. Also, growing availability of alternatives in the market will hamper the market growth rate.
This shrink wrap equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on shrink wrap equipment market contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Global Shrink Wrap Equipment Market Scope and Market Size
Global shrink wrap equipment market is segmented on the basis of type and end user industry. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the shrink wrap equipment market is segmented into semi-automatic wrapping equipment and fully automatic wrapping equipment.
- On the basis of end user industry, the shrink wrap equipment market is segmented into pharmaceuticals, food and beverages, cosmetics and personal care and others. Pharmaceuticals segment is sub-segmented into ophthalmic, injectable, biologics, wound care and respiratory.
Shrink Wrap Equipment Market Country Level Analysis
The global shrink wrap equipment market is analysed and market size insights and trends are provided by country, type and end user industry as referenced above.
The countries covered in the shrink wrap equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the shrink wrap equipment market due to due to high penetration among end-user segment. Asia-Pacific will however register the highest CAGR for this period due to rapid expansion of end-user industries such as food.
The country section of the shrink wrap equipment market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Shrink Wrap Equipment Market Share Analysis
The shrink wrap equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to shrink wrap equipment market.
The major players covered in the shrink wrap equipment market report are ARPAC LLC, BEUMER GROUP, ProMach, Orion Packaging Systems LLC, Lantech, Wulftec International Inc., Sealed Air, Technowrapp srl, U.S. Packaging & Wrapping LLC, Schneider Packaging Equipment Company, Inc., MSK Verpackungs-Systeme GmbH and Texwrap Packaging Systems LLC among other global players. Market share data is available for global, NORTH AMERICA, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and SOUTH AMERICA separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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