The cling film market in South America was valued at US$ 167.26 million in 2018 and is projected to reach US$ 245.24 million by 2027; it is expected to grow at a CAGR of 4.4% from 2019 to 2027.
Cling films are more cost-effective and convenient to use than other wrapping materials. These films proffer flexible packaging solutions, as well as boost the shelf life of the products. Cling film is considered to be a financially savvy item to ensure products contrasted with different materials. The shrink bundling products in LDPE cling films minimize the package's overall size and weight, resulting in lowering the shipping costs. The high strength to weight ratio of cling films proves beneficial to the manufacturers. A minimal amount of plastic is required to produce a highly functional and flexible packaging material, which ultimately make these films sold at lower prices.
Based on form, the South America cling film market is segmented into cast cling film and blow cling film. The cast cling film segment is dominating the cling film market during the forecast period. Cast films refer to those cling films made by horizontally extruding melted resin through a flat die to create a sheet of material. This material is pinned to a highly polished chiller roll with an air curtain or a vacuum box. The film is cooled with additional chill rollers before trimming and rolling. Cast cling films are minimally pre-stretched, allowing an improved depth of drawing for thermoforming operations. Besides, the polyolefins are evenly distributed in cast cling films due to the increased gauge consistency resulting from the manufacturing process involved. These films are transparent with the linear alignment of resin molecules and excellent puncture resistance.
The COVID-19 outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns imposed by governments. Chemicals and materials are among the various sectors suffering severe disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. Besides, South America is witnessing a deceleration in the economy across the region due to the pandemic. Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. South America's government has taken an array of actions to protect their citizens and contain the spread of COVID-19. It is predicted that the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to Europe, China, and the US, which are important trade partners.
The overall South America Cling Film Market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the South America cling film market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the South America cling film market. Anchor Packaging LLC, Berry Global Inc., DowDupont, and Intertape Polymer Group are among the players operating in the South America cling film market.