The lamination adhesives for flexible packaging market size to be driven by rising demand for packaged food across the globe during the forecast period
PUNE, MAHARASHTRA, INDIA, May 8, 2023 /EINPresswire.com/ — The global lamination adhesives for flexible packaging market report provides an in-depth analysis of the overall lamination adhesive for flexible packaging industry, covering key aspects such as market definition, market size, share, growth factors, restraints, challenges, and growth opportunities. The report also offers precise information about market segmentation and regional bifurcation.
Key factors such as rising demand for packaged food and beverages, growing awareness about importance of sustainable packaging, and rapid advancements in lamination adhesive technology are expected to drive global market growth during the forecast period. The global lamination adhesives for flexible packaging market size is expected to reach USD 5420.30 million in 2028 and register a steady revenue CAGR of 4.50% during the forecast period.
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Over the years, the packaging industry has been experiencing drastic transitions as manufacturers and industries are opting for sustainable packaging solutions such as flexible packing due to rising environmental concerns caused by traditional packaging and growing awareness about benefits offered by flexible packaging such as lightweight, damage resistance, easy handling, longer shelf-life, and better printability.
Lamination adhesives are extensively used in flexible packaging to bind multiple layers of materials together and create a barrier against oxygen, moisture, and other contaminants. Lamination adhesives provide a strong, durable bond that helps in keeping the packaging intact even under challenging conditions. In addition, it also helps in extending the shelf-life of the product and improving overall product appearance.
However, high cost of lamination adhesives, safety concerns, limited compatibility, and complexity of application in certain cases, and low awareness about the benefits of lamination adhesives in flexible packaging are expected to hamper overall market growth during the forecast period.
Food Packaging Segment to Account for Largest Revenue Share:
The food packaging segment is expected to account for largest revenue share between 2023 and 2028. Factors such as rapidly expanding food and beverages industry, rising demand for sustainable packaging and packaged food and beverages across the globe, and high usage of lamination adhesives in flexible packaging solutions for barrier protection, better sterilization, flexibility, and environmental considerations are expected to drive segment revenue growth during the forecast period.
North America to Lead in Terms of Revenue Share:
North America is expected to lead in terms of revenue share during the forecast period owing to factors such as increasing demand for packaged food and beverages, technological advancements in lamination adhesives, rapidly expanding e-commerce sector, and rising awareness about importance of flexible packaging. Moreover, factors such as presence of robust key players, high usage of this product across food, healthcare, and manufacturing sectors, and rising investments in developing more durable and safer lamination adhesives for flexible packaging are expected to drive North America market growth going ahead.
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Some Companies Listed in the Report:
• H.B. Fuller
• Vimasco Corporation
• Sika Automotive
• Flint Group
• DIC Corporation
• Huber Group
• Comens Material
• China Neweast
• Jiangsu Lihe
• Morchem SA
• Shanghai Kangda
• Brillant Polymers
• Mitsui Chemicals
Lamination Adhesives for Flexible Packaging Industry Recent Developments:
• In June 2022, Toyo-Morton expanded its laminating adhesive portfolio with the launch of Epoxy Silane-free laminating adhesives for flexible packaging.
• In June 2020, Bostik announced the launch of high-performance, sustainable, solvent free, flexible laminating adhesives for food packaging, industrial and medical use.
The global lamination adhesives for flexible packaging market has been segmented based on type, application, and region:
Lamination Adhesives for Flexible Packaging Market Segment by Type:
• Solvent Based Adhesives
• Solvent-free Adhesives
• Water based Adhesives
Lamination Adhesives for Flexible Packaging Market Segment by Application:
• Food Packaging
• Medical Packaging
• Industrial Packaging
Key Questions Addressed:
• What revenue CAGR is the global market expected to register during the forecast period?
• Which key players are leading in the global lamination adhesives for flexible packaging market?
• What is the expected market size of the global lamination adhesives for flexible packaging market between 2023 and 2028?
• What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
• What are some of the key challenges that the global market is expected to face during the forecast period?
• Which region is expected to account for largest revenue share over the forecast period?
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Article originally published on www.einpresswire.com as Lamination Adhesives for Flexible Packaging Market Size to Reach USD 5420.30 Million in 2028: By Xcellent Insights