Packaging has emerged as a key element that protects and stores products through complex and lengthy supply chains to reach customers across geographic markets. Manufacturers of the packaging machines have to consider the level of packaging and the interactive properties while implementing design and technology into the packaging systems. The market for shrink wrapping machines particularly caters to primary as well secondary packaging of products that require wrapping, stretching and overlapping the packaging of the products for transportation purposes.
Shrink wrapping involves packing of products with the help of a shrink wrapping packaging machine for individual or bundle of products while providing transparency of the packed content. The shrink wrapping machines market has underwent significant changes over the last decade with co-relation to developments in the packaging market.
Shrink Wrapping Machines Market:Market Dynamics
The growth of the shrink wrapping machines market is correlated with the demand for packaging products meant for longer shipping period. The demand for transportation and shipping of products to cover expanded geographic customer base, has led to growing demand for shrink wrapping which influences the demand for shrink wrapping machines market. Currently the shipping volume around the world is about 10 billion tons. The increase in the disposable income of the consumers in the emerging economies has led to the increase in demand for consumer goods, food and beverage market which is influencing the shrink wrapping machines market. The shrink wrapping machine is easy to operate which reduces the requirement for skilled personnel. Further shrink wrapping machines have low operational cost that act as favorable factor driving the shrink wrapping machines market.
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Shrink wrapping machines offer configuration functionality that address packaging requirements of varied products. The ability of the shrink wrapping machines to wrap products of different shapes and sizes with varying level of complexity depending upon size, volume and speed is a key factor benefiting the shrink wrapping machines market. However the shrink wrapping machines requires high initial investment and it is a key factor restraining the proliferation of the shrink wrapping machines market. Shrink wrapping machines are designed for the use of plastic films which is a non-ecofriendly material. Ban on such films may limit the shrink wrapping machines market.
Technological developments in shrink wrapping machines market have made improvements to the speed and efficiency of the shrink wrapping machine, resulting into new opportunities for the market. Shrink wrapping packing has reduced the cost of secondary packaging significantly which has further contributed to the growing preference for shrink wrapping machines.
Shrink Wrapping Machine Market:Market segmentation
Shrink wrapping machinecan be segmented by the types of machines and end use industry.
Based on the types of machines, shrink wrapping machinecan be segmented into:
Based on the end use industry, shrink wrapping machinecan be segmented into:
- Food and beverage industry
- Pharmaceutical industry
- Logistics industry
Shrink Wrapping Machine Market- Regional Outlook:
Regionally global shrink wrap machine market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
In the backdrop of upsurge industrialization and other economic factors in the APEJ region, growth in over the forecasted period shrink wrapping machine market in APEJ region is expected to be followed by North America. The Eastern Europe and Western Europe region is also expected have growth in shrink wrapping machine market over the forecasted period due to escalating packaging requirement for the meat & processed food products. Shrink wrapping machine market is at an introductory stage in MEA region.
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Shrink Wrapping Machine Market- Key Players:
Some major players of the shrink wrapping machinemarket are 3M Company, Texwrap Packaging Systems, ARPAC LLC, Axon, Duravant, Eastey Enterprises, Kliklok-Woodman, Massman Automation Designs, LLC, PakTech, PDC International Corp, Standard-Knapp, Inc., Tripack and Shrinkwrap Machinery Co. Ltd and Gebo Cermex.
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This post was originally published on The Market Plan