According to the business intelligence report titled ‘Global Collation Shrink Film Market Size study, by Thickness (Less than 25 Micron, 25-100 Micron, Above 100 Micron), by Material (Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE), High Density Polyethylene (HDPE), Polypropylene (PP) Others), by Application (Bottles, Cans, Cartons, Others) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global collation shrink film market was worth USD 3.68 billion in 2021 and is slated to record a CAGR of 5.9% through 2028, subsequently attaining a valuation of USD 5.5 billion by the end of the forecast timeframe.

Widespread usage of the product as packaging material owing to properties like thinness, robustness, and lightweight, leading to reduced packaging wastage and improve fuel efficiency during transportation is propelling the growth of global collation shrink film market.

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Also, lower shipping costs, shorter time to shelf, and minimal carbon footprint are attributable for product adoption. Furthermore, expanding retail and e-commerce industries, along with new technology incorporation for manufacturing these films will provide opportunities to improve market revenue flow over the analysis timeframe.

Despite the positive outlook, instability in the raw material prices, in consort with concerns pertaining to the environmental impact of collation shrink films are impeding the growth graph of the market.

Measuring by thickness, worldwide collation shrink film industry is categorized into above 100 microns, 25-100 microns, and less than 25 microns. Speaking of material type, the market is divided into polypropylene, high density polyethylene, linear low-density polyethylene, and low-density polyethylene. While the different applications are cartons, cans, bottles, and others.

From a regional frame of reference, North America, Europe, Asia Pacific, and Latin America are analyzed in the document to facilitate a broader understanding of prospects and trends in the regional market.

Asia Pacific industry is estimated to record a remarkable growth through 2028, on account of flourishing pharmaceuticals as well as food & beverages sector, alongside increasing establishment of e-commerce sites and supermarkets.

Speaking of the competitive framework, top contenders influencing global collation shrink film market dynamics include SABIC, Coveris Holdings S.A., Napco National, Scientex Berhad, MURAPLAST d.o.o., Tilak Polypack Pvt. Ltd., Bollore Group, Eurofilms Extrusion Ltd., ITP Industria Termoplastica Pavese SpA, and Polystar Plastics Ltd. These players are constantly evolving their product portfolio through mergers, acquisitions, partnership deals, and R&D efforts to remain relevant within the marketplace.