NEWARK, DE / ACCESSWIRE / March 24, 2023 / In 2023, the market for stretch hood films in the USA is projected to be worth US$ 225.9 million. Between 2023 and 2033, it is expected to expand at a CAGR of 5.2%.
By 2033, it is anticipated to be worth US$ 375.0 million. Throughout the foreseeable term, demand for stretch hood films is likely to increase. In 2023, the top 5 players are expected to control between 25% and 30% of the market.
Packaging is the foremost thing that a consumer notices about any product before buying. Prominent manufacturers operating in the USA are putting efforts to design and manufacture attractive & innovative packaging formats.
Brand messaging can be printed directly onto the film. It would further enable product recognition in a simple way. Transparent and crease-free packaging provides a superior visual presentation of the product.
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Printed stretch hood films let labels and barcodes be read easily without removing the film. They also ensure stable and unitized pallet loads for transit. These films offer a surface on which the print will have a clear and clean appearance.
As compared with other films such as heat shrink film, stretch, and orbital wrapping, these are easy to use. These films also facilitate the bar code reading process while shipping goods and reduce logistic errors.
High retention strength and tear resistance enable safe storage and transportation of goods. These factors are accelerating stretch hood films sales in the USA.
Key Takeaways from USA Stretch Hood Films Market
The Polyethylene (PE) segment by material type is estimated to hold about 70% of the USA stretch hood films market share by 2033.
By thickness, the 101 to 150 microns stretch hood films segment is projected to register a CAGR of 5.5% during the forecast period.
By end use, the building & construction industry is anticipated to expand 1.8x the current market value during the next ten years.
The USA stretch hood films market is predicted to reach a valuation of US$ 225.9 million in 2023.
The USA stretch hood films market showcased a CAGR of 3.9% during the historical period.
"Stretch hood films are nowadays gaining enormous acceptance in the USA. These films are designed for optimum protection of goods belonging to various industries. They offer complete enclosure and safeguard products while storing and distributing. It hence enables safe and efficient transportation," says a lead analyst at Future Market Insights.
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Development of Advanced Stretch Hood Films to Sustain High Tension Load would Create Lucrative Opportunities
Stretch hoods are latest palletizing technology. It offers the most comprehensive benefits when compared to other pallet unitization methods. In recent years, stretch hood film manufacturers have improved the packaging quality and technique. They have also enhanced the quality of raw materials.
Stretch hood film manufacturers are working on producing new films with reduced thickness and high elasticity. Using stretch hood film reduces adoption of plastic material from 20% to 30%, as compared to shrink hoods and other packaging formats.
It encourages manufacturers to grab this opportunity and innovate much better stretch hood films. New films are more sustainable to the environment. These films can be recycled easily and cut recycling costs.
Established players are set to invest in product development activities owing to opportunities created by innovative product offerings. They are set to produce high performance stretch hood films.
Effective load stability and high elasticity properties of stretch hood films have created numerous opportunities for industries. Construction, food & beverages, textile, and shipping industries are anticipated to push sales in the USA.
Competition Landscape: USA Stretch Hood Films Market
Key players operating in the USA stretch hood films market are innovating specialized stretch hood packaging solutions. They are making low friction films, UV protection films, and biodegradable films.
They are also using mergers and acquisitions as a way to increase their resources and broaden their presence. Key players operating in the market are Berry Global Group, Signode Industrial Group LLC, Sigma Plastics Group, Novolex Holdings Inc., RKW Group, and INDEVCO Plastics LLC.
Also, few of the other noticeable players in the market are Tex-Trude LLP, Muller LCS, Specialty America, Inc., Interplast Group, Layfield Group Ltd., Thrace Group, Beumer Group, and others.
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USA Stretch Hood Films Market Outlook can be Split in-
By Material Type:
Polyethylene (PE)
Linear Low Density Polyethylene (LLDPE)
Low Density Polyethylene (LDPE)
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Other Plastics
By Thickness:
Up to 100 microns
101 to 150 microns
Above 150 microns
By End Use:
Building & Construction
Food & Beverages
Pharmaceuticals
Textile
Chemicals & Fertilizers
Automotive
Shipping & Logistics
Get More Insights into the USA Stretch Hood Films Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the USA stretch hood films market, analysing historical demand from 2015 to 2022 and forecast statistics for 2023 to 2033. The study reveals growth projections on the USA stretch hood films market based on material type (polyethylene, polypropylene, polyvinyl chloride), thickness (up to 100 microns, 101 to 150 microns, above 150 microns), and end use (building & construction, food & beverages, pharmaceuticals, textile, chemicals & fertilizers, automotive, shipping & logistics) in the USA.
Table of Content
1. Executive Summary | USA Stretch Hood Films Market
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Definition
2.2. Market Taxonomy
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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