Stretch wraps or shrink films can prove inefficient in protecting the packages completely. As a result an increasing number of manufacturers are inclined towards automation and reducing labor work as much as possible. As per a new study by Future Market Insights (FMI), this will enable growth in the stretch hood films market, which is expected to surpass US$ 736 Mn by 2021.
The global stretch hood films market is poised to create greater strides between 2022 and 2031 at a CAGR of 6.1%, reaching US$ 1,399.1 Mn by the year 2031.
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Stretch Hood Films Demand Analysis (2015 To 2021) Vs Market Outlook (2022 To 2031)
Stretch hooding is an efficient way to palletize goods with multiple advantages such as uniform distribution chain performance, sustainability, reliability, and speed. Labor is one of the critical elements in the logistics and transportation industry and has always faced the tradeoff between service and costs.
However, with automation, the companies are able to provide better services while also saving money. Stretch hood systems enable packaging of pallets and products that are loaded automatically. Further, stretch hood films allow fast and reliable packaging of goods as the thin film covers the entire pallet in optimum time.
Key Takeaways of Stretch Hood Films Market Study
“Closed film hoods lead to better theft protection compared to stretch wrapping. Stretch hood films further prevent dirt and moisture from damaging the products during loading and shipment.” says an FMI analyst.
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Stretch Hood Films Find Application in Diverse Industries
Stretch hoods machine is one of the latest palletizing technology and offers benefits when compared to other palletizing methods. In recent times, stretch hood films manufacturers have not only improved the packaging technique and quality, but also emphasized on the quality of raw materials used to enhance performance. Stretch hood films manufacturers are continuously working on production of stretch hood films with more elasticity and reduced thickness.
Who is Winning?
Sigma Plastics Group, Coveris Holdings S.A., Novolex Holdings, Inc., AEP Industries Inc., Integrated Packaging Group Pty Ltd, Trioplast Industrier AB, Muller Load Containment Solution, RKW Group, Muraplast d.o.o., Thrace Synthetic Packaging Limited, Rosenflex(UK) Limited, Manuli Stretch S.p.A, Shields Bag and Printing Co., UAB Umaras, Gebr Duerrbeck Kunststoffe Gmbh Limited, Aalmir Plastic Industries and NPF Polyfilms Pvt Ltd are prominent players in the stretch hood films market. The stretch hood films market is fragmented and the key players in the market hold 15–20% share in the global stretch hood films market.
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