There are a lot of reasons for which stretch hoods are in demand such as reliability and cost-effectiveness packaging solutions for different products to help in minimizing product damage during transportation and logistics. It is applied on the pallet just like the stretch film the difference is stretch hood film makes use of heat to pack the pallets tightly with the film. Stretch hood films have helped in minimizing the wastage of film and hence reduced overall packaging cost. Because of this big advantage, the market of the stretch hood film is anticipated to increase in terms of demand throughout the forecasted period. The stretch hood film is majorly made by LDPE and LLDPE. The usage of these polymers has made the product cheaper as well as has enhanced its applicability over different pallet profiles. Industries such as food, beverage, cosmetics, etc. are increasingly making use of stretch hood films for packaging their products during transportation.
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Stretch Hood Film Market – Dynamics
The stretch hood film is anticipated to see high demand from different industrial verticals including food, beverage, pharmaceuticals, and cosmetics. Because of its cost-effectiveness and ease of application, stretch hood films are preferred more over the other wrapping solutions like stretch wrap and shrink wrap. In the last few decades, the global pharmaceutical and food and beverage industry have shown continuous growth which is projected to have a positive impact on the demand for the global stretch hood film throughout the forecasted period. The industry of cosmetics has also developed as a growing industry in the world’s emerging economies and the trend is expected to continue throughout the forecasted period to create more opportunity for stretch hood film which is extensive of the stretch films in different industries and its cost-effectiveness are expected to drive the overall market of stretch food films between 2017 and 2027. Moreover, it is expected that conventional packaging such as containers, film, wraps, shrink wraps, etc. can challenge the overall demand for stretch hood film market over the forecasted period.
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Global Market of Stretch Hood Film
The global market of stretch and shrink film market size was recorded at USD 14.27 billion in the year 2019 and is expected to register a 5.5 % CAGR during the forecasted period. The growing food processing industry is anticipated to drive the market growth. Moreover, the high demand for fruits, vegetables, and other food products is anticipated to further drive product demand. The manufacturers of raw materials such as BASFSE and Arkema S.A manufacture materials like polyethylene and polyvinyl chloride which are produced from chemicals such as ethylene and vinyl chloride.
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The increasing replacement of conventional packaging materials with stretch and shrink films can be attributed to the growth of the market in the US. The presence of several international and local manufacturers in the economy coupled with increasing penetration of the products depending on secondary processed food which is a major application area for stretch films in both primary and secondary packaging. The demand for LLDPE based films in the food processing industry is anticipated to witness growth on account of high transparency coupled with superior performance as a food contact material.
Conclusion
Niir project consultancy services (NPCS) has made many project report one of them is about “Stretch Hood Film”. The detailed project report covers all the major aspects of the project such as analyzing the market, confirming availability of various necessities such as plant & machinery, raw materials to forecasting the financial requirements. The project report by NPCS has helped many engineers, project consultants & industrial consultancy firms not only in India but worldwide.
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