plastic wrap vs wrapping

plastic wrap and wrapping both are nouns.

Word	Noun	Adjective	Verb	Adverb
plastic wrap	Yes	No	No	No
wrapping	Yes	No	No	No

As nouns, wrapping is a hypernym of plastic wrap; that is, wrapping is a word with a broader meaning than plastic wrap:

plastic wrap: wrapping consisting of a very thin transparent sheet of plastic
wrapping: the covering (usually paper or cellophane) in which something is wrapped

Other hypernyms of plastic wrap include wrap, wrapper.

plastic wrap (noun)	wrapping (noun)
wrapping consisting of a very thin transparent sheet of plastic	the covering (usually paper or cellophane) in which something is wrapped
	an enveloping bandage