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 are used to bind layers of films, paper or foil during the lamination process in flexible packaging. They help maintain product freshness and quality inside flexible pouches, bags and wraps. Key advantages of lamination adhesives include good adhesion properties, resistance to moisture and solvents, and ability to create barriers against dust, air and leakages. Their low VOC content also makes them environment friendly. Growing demand for packaged, ready-to-eat and convenience foods is driving the need for innovative flexible packaging solutions using lamination adhesives.
Market key trends:
One of the key trends in the market is the rising popularity of eco-friendly bio-based lamination adhesives. Strict regulations regarding VOCs and emission of harmful chemicals have encouraged players to develop sustainable adhesive options from natural sources like plant starches and proteins. These green adhesives provide excellent adhesion and barrier properties while reducing reliance on petrochemical feedstocks. Their renewably sourced composition appeals to ethical consumers and allows flexible packaging producers to gain competitive edge in the market.
Porter’s Analysis
Threat of new entrants: Low barriers to entry and availability of substitutes pose a medium threat to new entrants. Established brands have strong supply chain networks and customer loyalty.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price sensitivity of end products. Buyer loyalty is based on strong brands, product quality, and reliability of supply.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternatives and differentiated products. Integration of suppliers into supply chains provide stability.
Threat of new substitutes: New adhesive technologies pose medium threat as substitutes. Performance requirements and certification processes hinder swift adoption of substitutes.
Competitive rivalry: Intense competition exists between incumbent players to gain market share and differentiate through product innovation.
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 sustainable and lightweight packaging from food and beverage industries.
Regional analysis The Asia Pacific region is expected to dominate the global lamination adhesives for flexible packaging market, owing to high growth of the packaging industry in China, India, Indonesia and other developing Asian countries. North America and Europe are also significant markets due to stringent regulations regarding food contact and safety.
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. Key players are focusing on new product development strategies to improve adhesion properties and sustainability.