Banding Stretch Film Market Size, Share, Trends, Growth and Forecast 2032

Banding Stretch Film Industry Prospective:

The global banding stretch film market size was evaluated at $6.5 billion in 2023 and is slated to hit $15.5 billion by the end of 2032 with a CAGR of nearly 15% between 2024 and 2032.

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Banding Stretch Film Market: Overview

Banding stretch film is also referred to as bundling film. It is a kind of plastic film designed for wrapping lighter pallet loads with a view of providing stability to a completely stretched film. Growing elasticity and cost-efficiency are a few of the factors that have boosted the demand for banding stretch films. In addition to this, the high stretching ability of these products has helped in effective wrapping. Apart from this, they are utilized for wrapping base board and various flooring materials, thereby making the latter easy to transport and handle.                   

Key Insights

• As per the analysis shared by our research analyst, the global banding stretch film market is projected to expand annually at the annual growth rate of around 15% over the forecast timespan (2024-2032)
• In terms of revenue, the global banding stretch film market size was evaluated at nearly $6.5 billion in 2023 and is expected to reach $15.5 billion by 2032.
• The global banding stretch film market is anticipated to grow rapidly over the forecast timeline owing to a surge in product demand in the packaging sector along with flourishing e-commerce activities.
• In terms of type, the 5 inches segment is slated to register the highest CAGR over the forecast period.
• Based on application, the packaging segment is predicted to contribute majorly towards the global industry revenue in the upcoming years.
• Region-wise, the North American banding stretch film industry is projected to register the fastest CAGR during the forecast timespan.

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Banding Stretch Film Market: Growth Factors

An increase in product penetration in various packaging activities including flexible packaging will drive global market trends

A surge in the product demand in the packaging sector along with flourishing e-commerce activities is projected to prop up the expansion of the banding stretch film market globally. Innovations in stretch film technologies are anticipated to propel the growth of the market across the globe. Furthermore, a rise in trading activities and globalization has opened a new path of growth for the global market. Thriving retail activities are expected to accentuate the emergence of the global market in the years ahead. An increase in product manufacture and demand for logistics activities will culminate in a huge demand for banding stretch film across the globe. Need for sustainable products will shape the global market in the near future.  

Banding Stretch Film Market: Restraints

A surge in product prices can plummet the growth of the global industry over the forecast period

An improper disposal of the product and volatile raw component charges can prove to be detrimental to the expansion of the global banding stretch film industry. Technological restrictions in stretch films can put brakes on the global industry surge in the coming years.

Banding Stretch Film Market: Opportunities

Growing product demand in various end-use sectors to open new growth avenues for the global market

Large-scale product penetration in the pharmaceuticals & healthcare sectors and integration of the product with automated packaging tools will define the growth of the banding stretch film market space globally in the foreseeable future. Education and training programs aimed at creating awareness among the people about product benefits can unravel new opportunities for growth in the global market.  

Banding Stretch Film Market: Challenges

Cut-throat completion among players leading to dynamic pricing can challenge the global industry surge by 2032

Easy access to substitute items along with changing customer preferences is projected to impede the growth of the global banding stretch film industry. Growing competition among the manufacturers has resulted in price competition and this has severely impacted the growth of the industry across the globe. A surge in the costs of product innovations can further challenge the global industry expansion in the years ahead.

Banding Stretch Film Market: Segmentation

The global banding stretch film market is divided into type, application, and region.                                          

In terms of type, the banding stretch film market across the globe is bifurcated into 5 inches, 4 inches, 3 inches, and 2 inches segments. Additionally, the 5 inches segment, which dominated the segmental landscape in 2023, is set to continue its leading position in the coming years. The segmental growth can be subject to a rise in the use of 5-inch banding stretch films in wrapping huge bundles of various items. It is utilized in a slew of applications where it assists in securing bulkier items.     

Based on the application, the global banding stretch film industry is divided into packaging, commercial, and residential segments. Furthermore, the packaging segment, which gathered approximately 70% of the global industry revenue in 2023, is set to account for a major portion of the global share of the industry in the assessment period. The expansion of the segment in the next eight years can be subject to large-scale application of banding stretch films in pallet wrapping, securing loads, unitizing, and retail packaging activities. 

Banding Stretch Film Market: Report Scope

Banding Stretch Film Market: Regional Insights

Asia-Pacific is expected to maintain a leadership position in the global market during the analysis timeframe

Asia-Pacific, which accounted for half of the global banding stretch film market earnings in 2023, is projected to retain key status in the coming decade. In addition to this, the regional market surge in the assessment period can be attributed to swift urbanization, favorable government initiatives, and the presence of strong manufacturing hubs in the Asian countries. Swift industrialization in the countries of Asia and swift expansion of the e-commerce sector in densely populated Asian countries such as India and China. Countries such as Japan, Thailand, South Korea, and Indonesia are expected to be the key regional revenue market drivers.       

North American banding stretch film industry is predicted to register the fastest growth rate each year in the coming eight years. The growth of the industry in North America can be owing to the presence of a strong industrial sector and swift economic growth in countries such as Canada and the U.S. Reportedly, the presence of giant manufacturers in the region will account enormously for the industry profitability in the region.

Key Developments

• In the first half of 2020, Berry Global declared of expanding manufacturing capacity of ultra-high performance stretch films product portfolio. The move includes establishing new production lines and upgrading current manufacturing units in North America.

Banding Stretch Film Market: Competitive Space

The global banding stretch film market profiles key players such as:

• Goodwrappers (J.C. Parry & Sons)
• YOST Industrial
• Landsberg Orora
• Berry Global
• Alpha Omega Plastic Manufacturing
• Inteplast Group
• Manuli
• Sigma Plastics Group
• Integrated Packaging Group
• Dongguan Zhiteng
• Duo Plast
• Intertape Polymer Group (IPG)
• Propak Industries
• Tsukasa Chemical
• Qingdao Tongfenghe Packaging.

The global banding stretch film market is segmented as follows:

By Type

• 5 Inches
• 4 Inches
• 3 Inches
• 2 Inches

By Application

• Packaging
• Commercial
• Residential

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa