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Banding stretch film also called as bundling stretch film that are generally used to put together small things together. These are cost-effective option for expensive and large packaging. Attributed to their high stretching ability, the things that are wrapped in it are tightly bound. In flooring applications, they are used to easily wrap base boards and other flooring materials which make them convenient for handling and transportation.
The increasing demand from numerous end-user industries for packaging and wrapping of goods and objects is likely to boost the market growth. Additionally, the inclination of consumers towards online shopping has created demand for banding stretch films for packaging and protecting the products from tampering and damage. The transportation industry has also created positive effect on demand for banding stretch films.
However, the disposal of these films which are made using plastic and higher alpha olefins is likely to hamper the growth of the banding stretch films market.
Key Market Driver -
Increasing demand from packaging industry.
Key Market Restraint -
The disposal of the films is likely to hinder the market growth
Based on type, the market is segmented into2 inches width, 3 inches width, 4 inches width and 5 inches width. Based on application, the market is segmented into commercial, residential, Packaging, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global banding stretch film market consists of global & regional players. Some of the key players operating in the market are Berry Global, Sigma Plastics Group, Goodwrappers (J.C. Parry & Sons), Integrated Packaging Group, Qingdao Tongfenghe Packaging, Alpha Omega Plastic Manufacturing, Propak Industries, Duo Plast, and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is anticipated to be the largest market due to industrial evolution in India and South-east Asia. Additionally, the increase in the disposable income has increased the expenditure on home décor and interiors which is likely to boost the regional market. North America is expected to show significant growth due to the increasing use of band stretch films for flooring. The rising standard of living is influencing the growth in North America. Europe is estimated to show considerable growth attributed to the increasing demand from commercial sector. The adoption of these films for flooring of shopping complexes, mall, commercial complexes and buildings is creating positive impact. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period
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