The best days of plastic packaging counters are over

The prices of low-density Polyethylene (LDPE) has risen from its bottom after charting a price territory not seen for years. Stretch film manufacturers such as Scientex Bhd and Thong Guan Bhd were the beneficiaries of low LDPE prices as LDPE is the raw material for stretch film.

This stretch film industry has been growing fast due to wide applications in industries like healthcare, food, and drinks, cosmetics, etc. These films are used because of their elasticity, flexibility and also their special properties of being moisture and air resistant which prevents the goods from getting damaged and thus enhancing the quality of these goods.

Few of the major restraints in the stretch films market are the rising raw materials cost, availability of cheap alternatives, and environmental concerns. The growing demand of packaging products has increased the consumption of plastics requires proper disposal of these products resulting in increasing the environmental concerns among the stretch films manufacturers.

However, the demand for stretch films remains bright because of the rising demand of the packaging industry for the protection of goods during distribution. The Stretch films market is expected to grow with a high CAGR and is one of the most lucrative segments of the packaging sector.

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