by The global 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 for flexible packaging are used to bond layers of substrates like plastic films, paper, and aluminum foil together to produce flexible packaging products like stand-up pouches, bags, and wraps. They provide effective bonding and ensure package integrity. Their use makes packaging lightweight and durable while extending product shelf life.
Market key trends:
One of the key trends in the lamination adhesives for flexible packaging market is the rising demand for eco-friendly and biodegradable adhesives. Traditional petroleum-based adhesives have high VOC content and emit harmful emissions during production and disposal. This has prompted adhesive formulators to develop bio-based and plant-derived adhesives that have lower environmental impact. Biodegradable adhesives like polyurethanes, polyesters and polyamides derived from biomass are gaining popularity. Their growth is driven by stringent regulations on VOCs and emphasis on sustainability within the packaging industry.
Segment Analysis
The flexible packaging adhesives market is dominated by water-based adhesives segment. Water-based adhesives are eco-friendly in nature and emit lower volatile organic compounds (VOCs) as compared to solvent-based adhesives. Stringent regulations regarding VOC emissions are driving the demand for water-based adhesives. These adhesives offer superior bonding strength on a variety of substrates such as paper, plastic, foil, and others.
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 for flexible packaging from food and pharmaceutical industries.
Regional analysis
Asia Pacific is expected to dominate the global market over the forecast period. Rapid industrialization and growing food packaging industry in China, India, Japan, and other Asian countries are driving the demand for lamination adhesives in the region.
Key players
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 players are focusing on new product launches and expansions to gain a competitive advantage in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
