Stretch film is an important packaging material used in various industries including logistics, food, and agriculture. A recent report by MarketsandMarkets projects that the global stretch film market size will reach $18.5 billion by 2025, driven by the rise in e-commerce and retail sales. In line with this trend, Romanian plastics manufacturer TeraPlast is venturing into stretch film production in a bid to diversify its product portfolio.
TeraPlast has announced plans to start the construction of a new stretch film production unit in Romania, with an investment of €11 million. According to the company, the new facility will have a production capacity of 9,000 tonnes of stretch film per year and is expected to be operational by mid-2022. The factory will be located in TeraPlast's existing production site in Bistrita, northern Romania.
Stretch Film Wiki
Stretch film is a highly stretchable plastic film used for wrapping pallets and other goods. The film stretches to form a tight seal around the product, holding it in place and protecting it from damage during handling and transportation. Stretch film is made from materials such as polyethylene, polypropylene, and PVC.
Stretch film is commonly used in the logistics industry for securing goods during transportation. It is also used in the food industry for wrapping fresh produce, dairy products, and other perishables. In the agriculture industry, stretch film is used for wrapping hay bales and silage.
Factory
TeraPlast's new stretch film factory will employ state-of-the-art production technology to produce high-quality stretch film for domestic and international markets. The company expects the new venture to generate annual revenue of €16 million, adding to its existing portfolio of insulation materials, water and sewage pipes, and construction materials.
The expansion into stretch film production aligns with TeraPlast's strategy of diversifying into new markets to capitalize on growth opportunities. The company has been investing in research and development to develop innovative products that cater to the needs of its customers.
TeraPlast's CEO, Alexandru Stanean, said, "We are excited to venture into stretch film production, a promising sector that offers long-term growth potential. Our new factory will leverage our existing expertise in plastics manufacturing and enable us to offer a new range of high-quality packaging solutions to our customers."
Conclusion
TeraPlast's foray into stretch film production is a bold move that could pay off, given the projected growth in the global stretch film market. The new factory will create jobs and contribute to the economic development of the region. By diversifying its product portfolio, TeraPlast is positioning itself as a leading player in the plastics industry, with a focus on innovation and sustainability.