Global Wrapping Equipment Market 2017-2021
About Wrapping Equipment
Wrapping machine is an automatic or semi-automatic machine used to wrap mass product articles (such as biscuits, chocolates, and others) and large bag articles (such as pet food and cement), as well as aid in palletizing across industries. The report covers only secondary wrapping of large bundled products using stretch and shrink wrapping equipment. The stretch and shrink secondary wrapping segment is growing steadily, because it requires less space in a warehouse compared with corrugated boxes, which is a popularly used across end-users. A single pallet wrapping can hold as much as the 16 packs of corrugated boxes. The price of stretch and shrink films is another key contributing factor aiding the growth of this market. The raw materials used for stretch and shrink wrapping are stretch and shrink films, which are cheaper compared with the raw materials used for other forms of wrapping.
Technavio’s analysts forecast the global wrapping equipment market to grow at a CAGR of 6.40% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global wrapping equipment market for 2017-2021. To calculate the market size, the report covers only secondary wrapping using stretch and shrink wrapping equipment.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Wrapping Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global wrapping equipment market: ARPAC, BEUMER, Mollers North America, and Pro Mach.
Other Prominent Vendors in the market are: Phoenix, Signode, Wulftec, Sealed Air, and Lachenmeier.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increased demand for customized wrapping. Many companies find secondary packaging as a tool to reduce the overall cost. They have started implementing many strategies in secondary packaging and transportation. Around 59% of the food product manufacturers are now changing the material in secondary packaging for cost-effectiveness.”
According to the report, one driver in market is demand for technology upgrade and robotics in wrapping equipment. Initially, the end-of-line packaging was carried out manually; gradually, this was replaced with semi-automated and fully automated machinery. As customer requirements are evolving rapidly, manufacturers are demanding fully automated high-speed wrapping machines with increased throughput, along with high versatility (suitable for different size packages) and user-friendly nature. To cater to the varying needs of customers, vendors are coming up with the updated servo technology. Servo control offers greater dwell time to all types of films, making the films tolerant to extended heat transfer over a prolonged period. This servo control helps wrapping equipment to adopt almost all kind of films with different parameters. It adopts the film with a wider range of gauge thickness, innovative coating with aroma barriers, and multi-player co-extrusions for reverse printing.
Further, the report states that one challenges in market is threat of substitutes. The alternatives to plastic stretch films are being developed to cut down on material cost and reduce the environmental effect. For instance, Pallet Wrapz, a US-based company has developed a mesh-based tertiary packaging product named Pallet Wrapz. It is available in different sizes and for different palletizing purposes. Pallet Wrapz is reusable in nature. These wraps are easier and quicker to wrap and unwrap manually, consuming much lesser time. This eliminates the cost incurred for the installation of stretch and shrink machinery, as well as the cost involved in the purchase of shrink and stretch films.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-warehouse-and-storage-global-wrapping-equipment-market-2017-2021
ARPAC, BEUMER, Mollers North America, Pro Mach, Phoenix, Signode, Wulftec, Sealed Air, and Lachenmeier.
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