Adhesives Segment is the largest segment driving the growth of Lamination Adhesives For Flexible Packaging Market
The global Lamination Adhesives For Flexible Packaging Market is estimated to be valued at US$ 2.5 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Lamination adhesives are used to bond or join two or more flexible packaging layers together such as films, foils and papers. They offer superior adhesion to various packaging substrates along with high heat and chemical resistance. Lamination adhesives play a crucial role in providing barrier protection and extending shelf life of packaged food & beverages.
Market key trends:
One of the key trends in lamination adhesives for flexible packaging market is the growing demand for bio-based and sustainable adhesives. With rising environmental concerns, regulatory push for green packaging and consumer preference for eco-friendly products, manufacturers are focusing on developing bio-based adhesives using plant-derived raw materials like soy and corn. These sustainable adhesives help reduce dependency on petroleum-based resins and offer comparable performance to traditional adhesives. Their growing adoption in food packaging and other flexible applications is expected to drive the market growth over the forecast period.
SWOT Analysis
Strengths: Eco-friendly product portfolio gives competitive edge to adhesive manufacturers. Strong demand from food and beverage industry acts as driver.
Weaknesses: Volatility in raw material prices can impact adhesive costs.
Opportunities: Growth of flexible packaging over rigid forms boost market potential. Demand for sustainable products provide new revenue avenues.
Threats: Stringent environmental regulations around the globe require significant R&D investments.
Key Takeaways
Global Lamination Adhesives For Flexible Packaging Market Size was valued at US$ 2.5 Bn in 2023. The market is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing food packaging demand across developing nations.
Regionally, Asia Pacific dominated the market with over 35% market share in 2023 led by China, India and other Southeast Asian countries. Rapid urbanization, changing lifestyle and rising disposable income in the region have significantly increased the demand for packaged food and beverages, driving adhesive consumption.
North America and Europe were other major markets jointly accounting for nearly 50% share. Strong demand from pharmaceutical and personal care sectors supplement market growth.
Key players operating in the lamination adhesives for flexible packaging market are H.B. Fuller, Henkel AG & Co. KgaA, The Dow Chemical Company, 3M, Flint Group, Arkema Group, Ashland Inc., COIM Group, Morchem, DIC Corporation, and Chemline India Ltd.
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