The global heat shrink packaging market size is calculated at USD 5,040 million in 2024 and is predicted to attain around USD 7,980 million by 2034, expanding at a CAGR of 4.7% from 2024 to 2034.
The heat shrink packaging market refers to the production, distribution, and application of this packaging which consists of a polymer. Once we apply heat, it shrinks tightly over what it covers. It wraps over and around a product to keep it tightly secure at the time of shipping and handling. Many products are enclosed in shrink wrap to stabilize the products, utilize them, wrap to stabilize the products, unitize them, keep them clean, or add tamper resistance. Heat shrink tubing is used to seal electric wiring. There is a high demand for these packaging in paper & textile products, beverages, and food packaging which driving the growth of the heat shrink packaging market.
However, the risk factors of the market include geopolitical tensions, security risks, political instability, strict environmental regulations, and regulatory scrutiny which can limit the growth of the market. The future scope of the market includes collaboration with international players and national companies, investment in research and development, government initiatives, and reducing costs that will be an opportunity for the growth of the heat shrink packaging market.
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| Stats ID: | 7391 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Price | US$ 1550 |
| Stats ID: | 7391 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Price | US$ 1550 |
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