The lamination adhesives for flexible packaging market provides flexible packaging manufacturers with a reliable option for bonding multiple substrate layers together. These adhesives offer superior adhesion, clarity and resistance to heat. They also help prevent contamination of packaged products and extend shelf life.
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.. Growing demand for flexible packaging from end-use industries such as food and beverages, personal care and pharmaceutical is expected to drive the market during the forecast period. The increasing adoption of flexible packaging in emerging nations of Asia Pacific and Latin America due to rapid industrialization and urbanization is anticipated to provide new opportunities to the key players in the lamination adhesives for flexible packaging market over the next few years.
Market Drivers
One of the key drivers for lamination adhesives for flexible packaging market is the growth in packaged food industry. With increasing disposable incomes and urbanization, demand for packaged and convenience food products is growing significantly. Flexible packaging using lamination adhesives provides extended shelf life and freshness retention to food products. They help prevent contamination and meet stringent packaging requirements of the food industry. Hence, lamination adhesives for flexible packaging are well-suited to the packaging needs of the food industry. Growth in the global packaged food market will continue fueling demand for these adhesives over the forecast period.
Current geopolitical dynamics are impacting the growth of the lamination adhesives for flexible packaging market. Rising geopolitical tensions and trade wars have disrupted global supply chains. The ongoing Russia-Ukraine conflict has also exacerbated challenges like inflation and scarcity of raw materials. This makes procurement of essential adhesives and resins more difficult and expensive. Furthermore, sanctions on some countries have created supply bottlenecks. The market must explore alternative sourcing strategies and develop self-reliant supply networks to mitigate such geopolitical risks. Supply chain localization and diversification across multiple regions will help create resilience against future disruptions. Manufacturers also need to focus on developing more sustainable and eco-friendly adhesives formulations through innovative product development. This can open up new growth avenues while addressing environmental compliance issues globally.