According to the Lamination Adhesives For Flexible Packaging Market Report, by Product Type (Water-Based, Hot/Cold Seal, Solvent Less, and Solvent Based), by End User (Food Packaging, Medical Packaging, Industrial Packaging, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa), published by Coherent Market Insights.
The global lamination adhesives for flexible packaging market was valued at US$ 2.5 Billion in 2022. The market is expected to register a CAGR of 7.3% over the forecast period (2023-2030), to reach US$ 4.1 Billion by 2030. Lamination adhesive is an ideal substitute for nuts and bolts in order to provide bonding strength. Lamination adhesives provide flame resistance, heat resistance, electrical insulation, and optical clarity. Lamination adhesives can be classified into water-based, solvent less, hot/cold seal, and solvent-based. Lamination adhesive for flexible packaging is widely used across various end-use industries such as pharmaceutical, medical, agricultural containers, frozen food cartons, and papers and graphics. Out of which, the global lamination adhesives for flexible packaging market is gaining huge demand from the food packaging and personal care industries. It reduces wastage, produces lesser emissions, and provides excellent bond strength in the packaging of products.
To know the latest trends and insights prevalent in this market, click on the link below:
Key Trends and Analysis of the Global Lamination Adhesives for Flexible Packaging Market:
- Strategic mergers and acquisitions by key players in the market for regional as well as global expansion are a major trend in the global lamination adhesives for flexible packaging industry, and this is expected to augment the market growth over the forecast period. Growth in retail ecommerce sales have boosted the demand for packaged consumer products, which is expected to propel the global lamination adhesives for flexible packaging market. According to the U.S. Department of Commerce quarterly e-commerce figures, ecommerce sales in the U.S. reached $1.03 trillion in 2022, the first time ecommerce revenue has topped the $1 trillion level. That remarkable level of sales comes with a slight bump in ecommerce penetration to 21.2% for 2021.
- Thus, growth in the retail e-commerce sector is projected to accelerate the global lamination adhesives for flexible packaging market growth.
Key players
- B. Fuller,
- Henkel AG & Co. KgaA
- The Dow Chemical Company
- 3M
- Flint Group
- Arkema Group
- Ashland Inc.
- COIM Group
- Morchem
- DIC Corporation
- Chemline India Ltd
Key Takeaways of the Global Lamination Adhesives for Flexible Packaging Market:
- On the basis of end user, the food packaging segment dominated the global lamination adhesives for flexible packaging market in 2022 with around 64% of market share in terms of revenue, followed by medical packaging and industrial packaging.
- Lesser cure time, lesser emissions, lower wastage, and high bond strength of flexible packaging have contributed to the growth of the global lamination adhesives for flexible packaging market worldwide. However, government initiatives and growing consumer awareness toward the usage of eco-friendly adhesives have put a limitation on the growth of the global lamination adhesives for flexible packaging market.
- New product launches, merger and acquisitions, strategic partnership expansion, and research and development activities for the global lamination adhesives for flexible packaging market are the key strategies adopted by market players in the global lamination adhesives for flexible packaging market.
Impact of COVID-19
The raw material consumption and supply is not expected to get impacted hugely across the globe, owing to the rise in the demand for packaging solutions during the pandemic. Major players functioning in the market are adopting new strategies in order to mitigate the impact of the COVID-19 pandemic. Producers are opting to expand their production lines of polypropylene, one of the key raw materials used in packaging products. This scenario is expected to fuel the production of raw materials used for packaging solutions in various countries across the globe.
