The global stretch wrap machines market is estimated to be valued at US$ 758.1 Mn by the end of 2018 and is expected to reach US$ 1.35 Bn by the end of 2026 with a CAGR of 7.5% over the forecast period. Between 2018 and 2026, the market is anticipated to reach US$ 597.8 Mn.
The Stretch Wrap Machines Market is an ever-growing sector of the packaging industry, as advancements in technology have allowed for manufacturers to create a variety of machines that are able to perform specialized functions. Stretch wrap machines are used for the packaging of various items including food and beverage, pharmaceuticals, automotive parts, and electronics. Stretch wrapping machines offer numerous benefits over traditional hand wrapping methods such as increased efficiency, better load securement, reduced labor costs, and improved safety.
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Factors driving this growth include a rise in e-commerce activity due to the pandemic, an increase in exports from emerging market countries such as India and China, growing demand for sustainable packaging materials in developed countries like Germany and the U.S., as well as government initiatives encouraging the use of natural polymers instead of plastic wrap.
Stretch wrapping technology has witnessed a steady evolution since the time it was first launched in the industry. Smart technology and high-speed production processes have been catalysts in the metamorphosis of stretch wrap machines into more sophisticated engines driving automation in the global packaging industry. Designed with custom patterns, new-age stretch wrap machines ensure that minimum quantity of material is used to protect products being loaded. Result – reduction in materials, costs, and damages to the load, thereby bringing in more operational efficiency.
Key Companies-
- Signode Industrial Group LLC
- Webster Griffin Ltd.
- M. J. Maillis Group
- Packway Inc.
- ProMach Inc.
- Italdibipack SpA
- Hangzhou Youngsun Intelligent Equipment Co., Ltd.
- AETNA Group SpA
- ARPAC LLC
- Lantech
- Technowrapp Srl
- Cousins Packaging Inc.
- Berran Industrial Group, Inc.
- G.G. Macchine S.r.l.
- Krishna Engineering Works Ltd.
- Others.
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