The shrink wrap equipment market will project a CAGR of 13.2% for the forecast period of 2021-2028, and will reach USD 3,370.4 million by 2028. Growing preference for adoption of shrink wrapping technology is predicted to propel shrink wrap market over the forecast amount.
Market Analysis and Insights: Global Shrink Wrap Equipment Market
Shrink Wrap Equipment involves loosely wrapping a chemical compound shrink film on the merchandise that's to be packed and after subjecting identical to heat with the assistance of a shrink tunnel. Heat therefore applied leads to alteration in molecular reorientation that eventually leads to film shrinkage and a comfortable work with the merchandise. Shrink tunnels square measure essentially heat chambers that square measure placed over a conveyer.
Global Shrink Wrap Equipment Market Scope and Market Size
Global shrink wrap equipment market is segmented on the basis of type and end user industry. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the shrink wrap equipment market is segmented into semi-automatic wrapping equipment and fully automatic wrapping equipment.
- On the basis of end user industry, the shrink wrap equipment market is segmented into pharmaceuticals, food and beverages, cosmetics and personal care and others. Pharmaceuticals segment is sub-segmented into ophthalmic, injectable, biologics, wound care and respiratory.
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Shrink Wrap Equipment Market Country Level Analysis
The global shrink wrap equipment market is analysed and market size insights and trends are provided by country, type and end user industry as referenced above.
The countries covered in the shrink wrap equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the shrink wrap equipment market due to due to high penetration among end-user segment. Asia-Pacific will however register the highest CAGR for this period due to rapid expansion of end-user industries such as food.
Major TOC of The Report
Chapter One: - Introduction
Chapter Two: - Market Scope
Chapter Three: - Market Analysis
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