Lamination Adhesives For Flexible Packaging Market

The Lamination Adhesives For Flexible Packaging Market Is Estimated To Witness High Growth Owing To Rising Demand For Flexible Packaging

by

The 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 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Lamination adhesives are used to bond flexible packaging layers such as plastics, paper, aluminum foils and others. These adhesives provide strength, resistance to moisture and chemicals. They are used in food packaging, medical goods packaging and consumer products packaging. The increasing focus on lightweight and sustainable flexible packaging has driven the demand for lamination adhesives in recent years.

Market Dynamics:
The growth of the lamination adhesives for flexible packaging market is driven by growing demand for flexible packaging from various end-use industries such as food and beverages, pharmaceuticals and personal care. According to Flexible Packaging Association, flexible packaging accounts for approximately 25% of the total consumer packaging. Flexible packaging provides ease of use and enhances product shelf life. This has escalated the product demand over rigid packaging. Further, rapid urbanization, improving living standards and changing lifestyle in developing regions are positively impacting the market growth. Additionally, the focus of packaging manufacturers towards enhancing seal strength, temperature and chemical resistance of packaging products using advanced lamination adhesives acts as another driving factor. However, stringent environmental regulations regarding use of volatile organic compounds may hamper the market growth.

SWOT Analysis
Strength: Lamination adhesives for flexible packaging have excellent adhesion properties which allows them to bind different materials securely. They offer durability and prolong the shelf life of packaged products. They provide protection from external elements like moisture, oxygen etc.

Weakness: Strict environmental regulations around the use of certain adhesives can hamper their demand. Increased raw material costs put pressure on margins. Dependence on few key raw material suppliers increases supply chain risks.

Opportunity: Growing demand for sustainable flexible packaging from food and beverage industry presents an opportunity. Rise in e-commerce has boosted the need for secure packaging, driving market growth. Innovation in adhesive technology can help address new application requirements.

Threats: Availability of alternative adhesive technologies acts as a competition. Economic slowdowns can negatively impact packaging demand. Strict FDA guidelines for food contact materials compliance poses challenges.

Key Takeaways
Global Lamination Adhesives For Flexible Packaging Market Size is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing demand from food and beverage industry.

Regional analysis
Asia Pacific dominates the global market and is projected to maintain its leading position during the forecast period, growing at a CAGR of around 6%. This can be attributed to high consumption in China, India and other emerging economies driven by rising disposable incomes. North America is another major regional market supported by well-established food packaging industry.

Key players analysis
Key players operating in the lamination adhesives for flexible packaging market are H.B. Fuller, Henkel AG & Co. KgaA, The Dow Chemical Company, 3M, Flint Group, Arkema Group, Ashland Inc., COIM Group, Morchem, DIC Corporation, and Chemline India Ltd. These companies are focusing on new product launches, capacity expansions and mergers to gain competitive advantage.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it