The global sales of UVI stretch films are estimated to be worth USD 295.2 million in 2021 and are anticipated to reach a value of USD 492.4 million by 2031. Sales are projected to rise at a CAGR of 5.3% over the forecast period between 2021 and 2031. The revenue generated by UVI stretch films in 2020 was USD 280 million.
The strong development in demand for UV-resistant packaging solutions, particularly for outside storage and transportation sectors, drives the UVI stretch films market. The UVI stretch films perform a crucial function in protecting the product from UV radiation for several industries, such as agriculture, building, logistics, or any other industry needing to preserve the product during long-term exposure.
This also raises demand due to the growth of global trade and warehousing operations that need durable and weather-resistant packaging material. Advancement in the technology of stretch film allows for elasticity and puncture resistance, hence improving the performance of packaging.
Sustainability trends are seen to contribute to the development of eco-friendly UVI stretch films that provide protection and recyclability. Besides, the growing use of films in various industrial applications is another supportive factor for market growth.
Global UVI Stretch Films Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 280 million |
| Estimated Size, 2021 | USD 295.2 million |
| Projected Size, 2031 | USD 492.4 million |
| Value-based CAGR (2021 to 2031) | 5.3% |
Stretch wrapping is the popular method of pallet wrapping in the market nowadays. This is a stretchable plastic film that prevents products from damage during shipment, or during improper handling or in sudden movements, or due to environmental factors.
UVI (Ultraviolet Inhibitor) stretch films, is an additive that is used in making films that require protection from extreme sunlight or normal or direct sunlight. When the direct sunlight falls on the products and the product is not wrapped up from UVI stretch films it leads to the lost strength of a product, change in the yellowing, and then eventually breaking down. Through this additive, the life of poly packaging products is greatly increased.
America, Europe, Australia, and New Zealand are the bigger market of UVI stretch films because most of the consumer goods or preservative goods are used by these countries. UVI stretch films are providing more safety and durability of a product.
Nowadays developing countries like; China, India, Pakistan, Nepal, Sri Lanka, and other Asian and African countries are adopting the UVI stretch films to give more safety and durability to their product.
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Most of the plastics can absorb some amount of UV wavelength which causes, chemically degradation, yellowing, discoloration, and ultimately decomposition. Without any specific protection on plastic will degrade within several months or less than in a year.
Stretch wraps load is the best alternative of protection during shipping damages. UVI stretch films can protect the products which are stored outside from UV rays. Through opaque stretch films, customers can reduce the instance of pilferage.
UVI stretch films are more cost-effective and more protective than their alternatives like; heat shrink film or strapping corrugated or strapping equipment and shrink wrapping. It also keeps safe products from moisture, dirt and dust, and other environmental factors. It also takes less energy from any other alternatives during unitizing methods like shrink wrap systems.
UVI stretch films are most efficient; increase packaging operation efficiency can improve inventory control, can increase the worker's productivity. UVI stretch can be easily recycled.
Some of the key players which are considered in the report are:
North America is the biggest market for the UVI stretch films because it’s an established market people of these region wants to maintain the work life balance. So, they always look for those option which are most efficient and also provides the maximum safety, whether it is in construction or supply of a products or a preservative food.
So, UVI stretch films is the best alternative in the market in terms of cost-cutting and in safety concerns or in terms of productivity as well as compared to shrink wrapping or shrink equipment.
In European market as well consumers are high concerns with the safety so, they are also choosing the best options which are available in the market to protect their product in the best possible way. So, UVI stretch films fulfil all the demands of a European market regarding customer’s problem what they are facing with the heat shrink film or strapping corrugated.
In the Asia Pacific region nowadays UVI stretch film technology is adopting on a very large scale because of safety purposes. Like in India or other South Asian country, at the time of summer season extreme sunlight falls on the product which degrades the quality of a product or leads to the decomposition if it is not UVI protected.
To avoid the loss in this region builders/contractors, food manufacturers, automobiles industry, and farmers is highly demanding UVI stretch films. Like as we aware UVI stretch films are cost-effective and able to increase productivity which leads to maximum profit as well in the market which is expected to propel the market demand.
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UVI Stretch Films Market
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