Thermal Insulated Bubble Wrap Market Overview
Thermal Insulated Bubble Wrap market are expected to observe a market growth of 4%-5% during the forecast period
In 2021, the US Thermal Insulated bubble wrap market grew by 3% year on year, bucking initial skepticism about how the market would perform during a global pandemic. Across the whole of North America, e-commerce application segment witnessed a significant raise in volume in 2020.
Thermal Insulated Bubble Wrap: Market Outlook
The bubble wrap packaging is a form of protective packaging, which is fabricated from a double-layer polyethylene film, and was accidentally invented by the American engineers in the year 1957. As the name suggests, “Thermal Insulated bubble wraps” capture the air within the bubble-shaped hemispherical exterior layer of the material.
The bubbles can be anywhere ranging from 0.24-1 inches and are being selected depending upon the shock-absorption level which is being required. Also, as the products require proper packaging, cushioning, padding and protection against any disruption in the transportation process, the thermal insulated bubble wraps come into picture as they cater to the soft packaging, wherein the air cushioning absorbs the vibrations and shocks and aids to their efficient isolation of delicate products.
Thermal Insulated Bubble Wraps are designed to provide relief from the radiant heat that’s being generated. They also protect the item that is wrapped inside by providing proper padding and shock absorption. It pertains to high tear strength, great durability and is easy to use.
With pure Aluminum on both the sides, it provides excellent resistance towards any tear or puncture. Manufacturers and business owners tend to use the thermal insulated bubble wraps to safeguard their product during the transit.
What Are the Key Market Drivers Shaping the Consumption of Thermal Insulated Bubble Wrap?
The increasing disposable income of people contributes as one of the major drivers of the thermal insulated bubble wrap market. The food industry is pulling rapid demand for protective packaging solutions, owing to increasing consumption of freshly produced vegetables and fruits across the globe.
Moreover, the increasing prevalence of the e-commerce websites related to food and beverages packaging is also aiding the need for protecting & packaging perishable goods without any major wastage, thereby proving to be a driver of thermal insulated bubble wrap market.
Also electronics packaging has seen wide applicability of thermal insulated bubble wraps to offer protection to the electronics items, especially during the transportation. Durable and moisture resistant characteristics of thermal insulated bubble wraps are contributing to the soaring demand in the next future.
What Are the Key Challenges That Can Restrain the Sales of Thermal Insulated Bubble Wrap?
According to United States Environmental Protection Agency, in 2018 containers and packaging contributed to the majority of Municipal waste that is around 82.2 million tons.
The food packaging increases the packaging waste and also gives rise to pollution and landfills. With that being said, the Governments across the world are pin-pointing the usage of single-use packaging coupled with non-degradable packaging waste.
Thermal Insulated Bubble Wrap are often made of Polyethylene (PE) are prove to be a threat to the environment, resulting in a major drawback or setback to the thermal insulated bubble wraps market. Moreover, the preference of consumers towards the eco-friendly materials across the globe is hampering the growth of the market.
Key players of Thermal Insulated Bubble Wrap Market are as follows:
- Innovative Energy, Inc.
- Sonoco Products Company
- Amcor Limited, Deutsche Post AG
- Cold Ice Inc.
- STARPACK Overseas Private Limited
- Pregis Corporation
- Nortech Labs, Inc.
Key Market Players in Asia-Pacific of Thermal Insulated Bubble Wrap Market
- Neo Thermal Insulation (India) Private Limited
- Flexi Pack Limited
- Suzhou Top Packing Material Co., LTD
- Agarwal Technoplast Private Limited
What Strategies Are Key Players Adopting to Increase Their Market Share in the Thermal Insulated Bubble Wrap Market?
Key players manufacturing Thermal Insulated Bubble Wrap are continuously innovating their products by introducing attributes like expandability, re-usability and flexible variants of Thermal Insulated Bubble Wrap.
In April 2021, Insulated Products Corporation, introduced the “CooLiner insulation roll” which offers light and UV protection, has external reflective barrier, provides intelligent bonding solution which aids in extra strength and elasticity, and also protects against cold and heat, thereby supports the company’s expansion and growth.
Why Is India Considered a Promising Player in Influencing the Market Growth for Thermal Insulated Bubble Wrap?
The population of India is estimated to be around 1.38 billion, which is the second-largest population in the world. With that being said, the labor related costs are extremely cheap and affordable for to manufacturers, coupled with great innovation rising along the way. Therefore, Indian markets are thriving even in the COVID-19 pandemic as they have large customer matter to cater to.
What is the Repercussion of the Pandemic on the Growth of the Thermal Insulated Bubble Wrap Market?
The COVID-19 pandemic has resulted in great number of customers getting inclined towards online shopping. Regarding temperature sensitive products, insulated packaging is expected to encounter strong sales as the pharmaceutical sector is demanding more and more temperature controlled products in order to keep the products safe.
Therefore, resulting in bulk stocking and panic purchase from the consumer’s side is expected to increase the demand for thermal insulated bubble wrap market.
Key Segments of Thermal Insulated Bubble Wrap Market Covered in the Report
Based on Product Type:
- High-grade bubble wraps
- General-grade bubble wraps
- Temperature controlled bubble wraps
- Limited grade bubble wraps
Based on Application Type:
- Electrical & Electronics
- Personal Care
- Other End Use
Based on Region:
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa