IndustryARC, in one of its latest reports, predicted that the orbital stretch wrapper market size is estimated to grow with a CAGR of around 4.1% from 2022 to 2027. Furthermore, increase in manufacturing activities for the stretch wrapping machine for application in various end-use industries such as packaging, chemical products, electronics, and others will offer major growth in the orbital stretch wrapper industry during the forecast period. The orbital stretch wrapper market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
The top 5 players in the Orbital Stretch Wrapper industry are –
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1. By type, the full automatic segment held the largest global orbital stretch wrapper market share and is expected to grow by over 4.9% during the forecast period. The growth of full automatic orbital stretch wrapper is influenced by increasing demand in the packaging end-use industry.
2. By end-use industry, the packaging segment holds the largest global orbital stretch wrapper market share and will grow at a CAGR of over 4.6% during the forecast period. The high demand of orbital stretch wrappers in the packaging sector is influenced by the rising wrap packaging applications in pipes, furniture, doors, cardboards, food & beverage, and others.
3. By geography, the Asia Pacific segment is the fastest-growing region in the orbital stretch wrapper market for the year 2021 and will grow by over 4.2% during the forecast period. The growth of global orbital stretch wrapper industry in this region is influenced by rising demand in packaging, electronics, pharmaceuticals, and other end-users.
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Market Drivers and Challenges:
1. The high demand of orbital stretch wrapper for durable packaging applications is boosting the growth in the market. The rise in the demand of automated stretch wrapper for packaging industry is driving the market of orbital stretch wrapper. The increasing growth of full automatic type of orbital stretch wrapper for high speed packaging and wrapping applications is offering major growth opportunities in the orbital stretch industry.
2. The increasing use of the orbital stretch wrapper for lumber, furniture and other large wooden products is creating a drive in the orbital stretch wrapper market. The increasing applications of orbital stretch wrappers in furniture and wooden items wrapping and packaging for transportation and shipping is leading to growth of the orbital stretch wrapper market.
3. High prices of automatic machine type and heavy load for manual and semi-automatic type for small manufacturers are leading to a fall in growth of orbital stretch wrapper industry.
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