The global Lamination Adhesives Market size is expected to reach USD 4.55 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.6% from 2020 to 2027. Increased demand for medical flexible packaging is fueling the growth of the market.
Attributes
such as overall cost savings, ease of storage and handling, and convenience
have created a favorable impact on the demand for medical flexible packaging.
Numerous technical developments in the field have created a positive impact on
the popularity of flexible packaging. One of the popular inventions is the
development of metalized films. These films assist in the resistance to oxygen
and water and also provide glossy or metallic appearance.
With
increasing pharmaceutical and medical device production, lamination adhesives
are likely to observe positive demand over the coming years on account of its
use in flexible packaging. This packaging offers several advantages such as
product protection, low waste, and shipping friendly. It also reduces the overall
weight by a significant amount. This is likely to remain another key focus area
for market vendors.
Flexible
packaging demand from the food and beverage sector is likely to remain an
attractive area for the market vendors. Flexible packaging is used in the food
and beverage sector for protection and improving the shelf lives of products
such as ready to eat products including coffee, ice creams, and snacks, and
boil in bag products including rice and seafood. Lamination adhesives offer
several advantages such as resistance to tearing, protection from light and
moisture, and prevention of food qualities, such as aroma and freshness.
Expansion
of the fast-moving consumer goods (FMCG) industry in emerging economies such as
India, China, and Brazil is projected to indirectly push the demand for
lamination adhesive products over the coming years. The economies are
characterized by a growing population and rising incomes, which is projected to
create a favorable impact on FMCG goods. Changing lifestyles, easier access,
and growing awareness are some of the key factors driving the FMCG industry.
Technological
advancement to improve productivity and functionality is projected to remain an
indirect growth factor for adhesive products. Manufacturers are using automated
machinery in order to fill the packages at a faster rate and enable the use of
next generation films.
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Lamination
Adhesives Market Report Highlights
- In terms of
revenue, acrylic resin is projected to expand at the fastest CAGR of 8.0%
over the forecast period. Key characteristics such as higher temperature
stability, high resistance to chemical and ultra-violet light, and
excellent aging properties are likely to boost the segment growth
- By
technology, water-based adhesives accounted for the largest volume share
of 50.6% in 2019 and is projected to witness significant growth in the
future on account of super esthetic properties, cost-effectiveness, and
corrosion resistance
- The
packaging industry was the largest end-use segment and held a nearly 65.0%
share of overall revenue in 2019. Increasing flexible packaging demand
from the food and beverage, consumer goods, and pharmaceutical sectors is
the key factor driving the segment
- Asia Pacific
is anticipated to remain the fastest-growing region from 2020 to 2027.
Increasing healthcare expenditure in the Southeast Asian countries and
rising healthcare investments through public and private projects are
projected to offer numerous opportunities for market vendors
- Inorganic
growth strategies such as mergers and acquisitions are projected to affect
market dynamics and competition.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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