 |
| Lamination Adhesives For Flexible Packaging Market |
Lamination adhesives are used to bond flexible packaging films such as polyethylene, polypropylene, polyester, and others. They provide packaging strength, durability, and heat sealing capability. Lamination adhesives offer advantages like compatibility with a wide range of substrates, durability, high bond strength, clarity, and resistance to moisture and solvents. The increasing demand for flexible packaging from food & beverage, pharmaceutical, cosmetics, and other industries is driving the need for lamination adhesives. 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 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Development of bio-based lamination adhesives is one of the key trends
witnessed in the lamination adhesives for flexible packaging market. Consumers
and regulations are pushing flexible packaging manufacturers to adopt
eco-friendly solutions. Thus, manufacturers are focusing on developing
bio-based and sustainable alternatives to fossil fuel-based adhesives by using
renewable resources such as plant oils and resins. For instance, Henkel AG
developed Roady, a hot melt adhesive for flexible packaging made from renewable
raw materials. It provides high tack and heat resistance with a low carbon
footprint. Such development of bio-based adhesives will support the growth of
sustainable flexible packaging solutions.
Segment
Analysis
The global lamination adhesives for flexible packaging market is dominated by
the water-based segment. Water-based lamination adhesives account for over 40%
of the total market share as they offer benefits like low VOC emissions, high
bonding strength with flexible substrates and ease of usage. Solvent-based
lamination adhesives hold the second largest share and are preferred where high
heat resistance is required. Other segments include hot melt based and
radiation cured lamination adhesives but have relatively lower market
penetration currently.
Key Takeaways
The global Lamination
Adhesives For Flexible Packaging Market Growth is expected to witness
high growth over the forecast period of 2023 to 2030 supported by rising demand
for flexible packaging from food and consumer goods end use industries.
Regional analysis: Asia Pacific as the fastest growing regional market for
lamination adhesives attributed to expansion of packaging industry in major
economies like China and India. North America currently dominates the global
market owing to high per capita packaging consumption in the region.
Key players operating in the lamination adhesives for flexible packaging market
are Pfizer, Inc., Bristol Myers Squibb, Sanofi S.A., F. Hoffmann-La Roche AG,
Bayer AG, Novartis International AG, Merck & Co., Inc., AbbVie,
GlaxoSmithKline plc, Eli Lilly and Company, Zydus Cadila, Aurobindo Pharma
Ltd., Cipla Ltd., Dr. Reddy's Laboratories Ltd., Lupin Ltd., Sun Pharmaceutical
Industries Limited, Serum Institute of India Pvt. Ltd., Biocon Limited, Strides
Pharma Science Limited, and Unichem Laboratories.
For more insights, read- https://www.pressreleasebulletin.com/lamination-adhesives-for-flexible-packaging-market-trends-size-and-share-analysis/
0 Comments