The lamination adhesives for flexible packaging market has been growing steadily over the past few years owing to the rising consumption of flexible packaging across various end-use industries such as food, pharmaceutical, and personal care. Lamination adhesives help bond multiple layers of film and provide strength and durability to flexible packaging products such as pouches and bags. They impart barrier protection to contents, extend shelf-life, and enable the packaging to be machine assembled, sealed, and handled.
The Global Lamination Adhesives For Flexible Packaging Market is estimated to be valued at US$ 2.88 Bn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the lamination adhesives for flexible packaging are Leica Biosystems Nussloch GmbH, Olympus Corporation, F. Hoffmann-La Roche Ltd., Merck KGaA, GE Healthcare, Mikroscan Technologies, Inc., Koninklijke Philips N.V., Sectra AB, Propath UK Limited, Inspirata, Inc., Hamamatsu Photonics, Inc., OracleBio Limited, MD Biosciences, Aiforia, Xybion Digital Inc., Nucleai, Inc.
The key opportunities in the market include rise in demand for packaged food and pharmaceutical products as well as the increasing focus of players towards developing sustainable and eco-friendly adhesive solutions.
The increasing preference of brands towards flexible packaging over rigid packaging globally is expected to drive the lamination adhesives market growth. The Asia Pacific region dominates the global flexible packaging market and is projected to grow at the fastest rate during the forecast period.
Market drivers
The major market driver for lamination adhesives has been the growing flexible packaging industry. Rising urbanization and changing lifestyles have increased the demand for packaged and ready-to-eat food items. This has accelerated the use of flexible packaging such as stand-up pouches, bags, wrappers, and liner bags. Additionally, growth of the pharmaceutical industry and increased production of medicines in the form of pills, capsules, and tablets have boosted the application of lamination adhesives in medical packaging. Stringent food safety regulations have also created opportunities for innovative adhesive solutions that enhance product shelf-life while protecting the contents from external contamination.
PEST Analysis
Political: The laminating adhesives for flexible packaging market is regulated by government policies regarding packaging and environmental protection. Strict policies for usage and disposal of flexible packaging could impact market demand.
Economic: Fluctuations in the global economy impact consumer demands and spending abilities, thereby affecting market growth. As flexible packaging market grows, demand for laminating adhesives also increases.
Social: Changes in lifestyle and consumption patterns influence packaging needs. Increasing preference for smaller packaging units suitable for on-the-go consumption drives flexible packaging adoption.
Technological: Developments in adhesive formulations help produce laminating adhesives with improved bonding strength and resistance to temperature variations. Advancements in printing and coating techniques widen application scope.
The Asia Pacific region accounts for around 40% of the global market value due to high consumption in China, India, Japan and other developing nations. Established flexible packaging industry and growing e-commerce sector stimulate adhesive demand.
North America is another major region concentrated with market players. Presence of leading pharmaceutical and food and beverage companies supported by regulatory relaxations favors regional growth. Germany, France, UK hold dominant shares in Europe. Improving economic conditions coupled with expanding flexible packaging consumption augurs well.
The Middle East and Africa region exhibits fastest growth rates on account of rising living standards, population, urbanization and increasing product import activities in GCC countries and South Africa. Initiatives to diversify economies through industrialization attract foreign investments and foster adhesive usage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it