Emerging Trends in the Shrinkwrap: A Focus on PVC Film, PET Shrink Film, and PETG Film

How large is the market for shrinkwrap and shrink labels? At present, the sales revenue of heat-shrinkable film packaging is about 200 million U.S. dollars. According to relevant information, the sales revenue of heat-shrinkable film bottles will increase to 300 million U.S. dollars in the next five years, so the industry should at least turn one at a time. Fan. Other industry applications (such as cans, batteries, etc.) of heat-shrinkable film packaging have actually begun before this, although these markets are not as fast as the bottle, but the annual growth rate has reached 30%. 

The shrinkwrap and shrink label market, currently valued at around $200 million, is poised to grow to $300 million in the next five years. This growth trajectory is underscored by the expanding use of PVC film, PET shrink film, and PETG film across various sectors.

Market Expansion Driven by Diverse Material Use

Originally, the market's growth was fueled by smaller companies utilizing PVC film for its economic benefits and excellent shrinkage properties. However, environmental concerns associated with PVC film have led to a gradual shift towards more sustainable materials like PET shrink film and PETG film.

PET shrink film, known for its clarity and strength, has become popular in the beverage and food packaging industries. In contrast, PETG film, celebrated for its superior shrinkage capabilities and environmental friendliness, is rapidly gaining traction, especially in sectors with high environmental standards.

Adoption Across Industries

Large corporations, including brands like Gatorade and Heinz, have embraced PET shrink film and PETG film for packaging. This broad adoption is a testament to the versatility and appeal of these materials. Their use in packaging ranges from children-targeted products, like Heinz’s green ketchup, to sports drinks and juices.

Technological Advancements and Future Prospects

The shrink film packaging market is evolving with technological advancements. Innovations in materials and production processes are making PET shrink film and PETG film more cost-effective and adaptable. The market is also witnessing a trend towards UV-curable adhesives, enhancing the functionality and aesthetic appeal of these films.

Fastest Growing Sectors and Environmental Impact

The milk packaging, sports drinks, and juice sectors are rapidly integrating PET shrink film and PETG film into their packaging solutions. Additionally, the environmental concerns surrounding PVC film are influencing market dynamics, pushing companies to adopt more sustainable options like PETG film.

Conclusion

In summary, the shrink film packaging and shrink label market is experiencing significant growth, driven by the versatile and environmentally friendly properties of PET shrink film and PETG film. As companies continue to seek sustainable and cost-effective packaging solutions, the use of these materials is expected to expand, further shaping the future of packaging in various industries.

The new shrink material is also very exciting. Eastman has developed a new PETG material that is cheaper and more maneuverable. The shrinkage performance of current OPP films has also been quite high, and new materials, such as OPS and PET, have also gradually been adopted by people. In short, the emergence of these new materials and new developments will reduce the cost of production and prompt more and more packaging companies to use heat-shrinkable films.