The Middle East and Africa stretch and shrink wrap market size witnessed significant growth in the past and is expected to grow at a CAGR of 4.2% during the forecast period (2022-2030).
Stretch wrap is a thin, flexible plastic sheet to lock and secure cased items onto a pallet. It is commonly constructed of polyethylene. When heated, shrink wrap can be used to cover products loosely. Once heated, the shrink wrap secures the goods.
The Stretch and Shrink Wrap Market is driven by rapid urbanization and infrastructure development. Economic and political instability act as restraints for this market. On the other hand, the food and beverages industry growth is an opportunity for the stretch and shrink wrap market.
Rapid urbanization occurs across the Middle East and Africa, where infrastructure is being built, and population concentrations are rising. This tendency increases the need for effective packaging solutions for consumer items, building materials, and other industries. Stretch and shrink wrap are the best materials for fastening and packing because they provide the most stability, protection, and value. The industry is expanding because the construction and infrastructure industries use these materials to package building supplies, including pipes, cables, and panels.
Stretch and shrink wrap market expansion may be hampered by political and economic unrest in a few Middle Eastern and African nations. These factors may impact the entire demand for and investment in packaging materials, which can also result in changes in currency exchange rates, trade restrictions, and ambiguous business environments. Instability may damage supply networks, making it difficult for businesses to maintain reliable production and delivery.
The Middle East and Africa have a thriving food and beverage industry driven by population growth, urbanization, and changing consumer preferences. Stretch and shrink wrap are essential for maintaining food and beverage products' quality, hygiene, and freshness. Reliable and aesthetically pleasing packaging solutions are required as the demand for packaged food and beverages rises. Offering stretch and shrink-wrap solutions with improved barrier qualities, printability for branding purposes, and convenience features like resealability will allow manufacturers to take advantage of this opportunity.
The Middle East and Africa stretch and shrink wrap market is segmented based on Type, Product, Distribution Channel, and Country.
Based on material, the market is segmented by Hoods, Sleeves, Labels, and Wraps.
Sleeves and Labels dominated the market and are expected to register a CAGR of 4.9% over the forecasted period.
Based on Resin, the market is segmented by LLDPE, LDPE, PVC, and Others.
LDPE dominated the market and is expected to register a CAGR of 3.9% over the forecasted period.
Based on End-Users, the market is segmented by Food and Beverage, Industrial Packaging, Consumer Goods, and Pharmaceuticals.
Food and Beverage dominated the market and is expected to register a CAGR of 4.7% over the forecasted period.
The Middle East and Africa stretch and shrink wrap market is segmented based on country by Saudi Arabia, UAE, Israel, Qatar, South Africa, and the Rest of the Middle East and Africa. The rest of the Middle East and Africa dominates the country market and is expected to grow at a CAGR of 3.4% during the forecast period.
Governments in the MEA region are investing heavily in the construction and infrastructure industries. Programs like Saudi Vision 2030 are anticipated to increase demand for cement, aluminum, and other building materials. Infrastructure needs are rising as a result of urbanization and rising population. Such measures should increase demand for stretch and shrink films used in the bulk transportation of building materials.
South Africa is also a major producer of automobiles in the Middle East and Africa. They are considering that 2019 will see more than 0.6 million automobiles manufactured. South Africa has held the region's top spot. More than 200 automobile component manufacturers are nationwide, including Senior Flexonics, Arvin Exhaust, Corning, and Bloxwitch. Another element driving the demand for stretch and shrink films in South Africa is the government's measures to promote the nation's auto manufacturing. For instance, the South African Automotive Masterplan (SAAM) was launched by the government to enhance global competitiveness and transform the sector towards sustainable development by 2035.
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