US demand for stretch & shrink film to exceed $3 Billion in 2019
Demand for stretch and shrink film in the US is expected to grow 3.5% annually to $3.1 billion in 2019, driven by increasing sales of retail items, as well as increasing efficiencies in film manufacturing and layering. Rising use of stretch and shrink hoods and beverage and pallet unitization wraps and the increasing suitability of stretch and shrink films for a greater variety of applications will also boost demand. These and other trends are presented in Stretch & Shrink Film, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
Stretch film sales will grow 3.4% yearly to $1.9 billion through 2019, comprising over three-fifths of total stretch and shrink film demand. Overall, stretch films, which are used primarily in pallet unitization, will see growth stem from increased manufacturing activity and spending on consumer goods, as well as from rising improvements in machinery and advances in resin strength. The fastest growth is expected for stretch hoods in the storage and distribution market because of their efficiency in pallet wrapping applications.