Timber Wrap Films Market: An Overview
Timber films are a type of the flexible packaging used to wrap timbers. Flexible packaging is gaining an edge in the overall packaging industry. The timber wrap films market is expected to gain an advantage with the changing market dynamic.
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Timber Wrap Films Market: Notable Developments and Competitive Landscape
The players in the timber wrap films market are witnessing an intense competition with entry of several new players. A few of the predominant players operating in the timber wrap films market are Balcon Plastics Limited, RKW SE, Ab Rani Plast Oy., InterWrap Inc., Inteplast Group, Multifab Packaging, Trioplast Industries AB, and Davidson Plastics Ltd.
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These players are primarily focusing toward customizability of their films. This will help them manufacture a packaging solution that will be suitable for different product types. Apart from this, giant players in the market are adopting several organic and inorganic strategies to stay ahead.
For instance, in March 2018, ALTOR a key player announced to acquire TRIOPLAST. The acquisition will help them strengthen their foothold in Sweden and enhance their global presence. Such developments will make timber wrap films market more competitive and fragmented.
Timber Wrap Films Market: Key Trends
Timber wrap films are primarily used prevent timber come in contact of moisture as it damages the quality of timber. The growing demands for effective storage, transportation, and loading and unloading of timber has fueled timber wrap films market. One of the prime consumers of timber wrap films is furniture manufacturers who have reported heavy loss due to moisturized timber. The ability of timber wrap to increase shelf life and retain quality of timber is a prominent factor behind the mass adoption of timber wrap films.
Further, players are trying to make timber wraps films seal packed through advanced perforation technologies such as laser to improve moisture management. Along with this, they are aiming to bolster their growth by leveraging environment friendly packaging credits. Therefore, they are focusing towards the development of biodegradable timber wrap films in order minimize plastic pollution and aid sustainability in production. These are a few important trends expected to change the dynamics of timber wrap films market especially in terms of maintaining profitability.
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Timber Wrap Films Market: Regional Outlook
Geographically, the timber wrap films market is classified into North America, Asia Pacific, Europe, and the Middle East and Africa. Among these, the timber wrap films market is expected to register highest growth rate in North America. This is mainly due to the presence of large pool of consumers in the U.S. Timber is popularly used to design residential house, shops, furniture, and decoration items. Along with this, substantial adoption of advanced packaging equipment has made the regional market increasingly competitive over the past few years.