Lamination Adhesives For Flexible Packaging Market.

Drivers

The growing demand for lamination adhesives with high bond strength from the healthcare industry is expected to accelerate market growth over the forecast period. Also, growth in the smart city projects across the Asia Pacific region coupled with the rise in the retail industry is also projected to foster the market growth of lamination adhesive for flexible packaging. Increasing demand for flexible packaging from the packaging industry is further projected to stimulate the market growth of lamination adhesive for flexible packaging.

Market Opportunities

Technological advancement and up gradations in the laminated adhesives are projected to augment the market growth of lamination adhesive for flexible packaging. For instance, in June 2017, Actega North America has announced the launch of a new UV laminating adhesive line to its diverse product portfolio for the labels market. This system, RAD-BOND, has been designed to laminate BOPP-to-BOPP and BOPP-to-paper. Thus, product innovation & up gradation will favor the market growth of lamination adhesive for flexible packaging over the forecast period.

Market Restraints

Strict regulations regarding the emissions as solvent-based lamination contain high VOC substances and are expected to restrict the market growth of the lamination adhesive for flexible packaging. Moreover, the performance limitation of water-based adhesives is further expected to hinder the market growth over the forecast period.

Key Takeaways

On the basis of application, food packaging dominated the global lamination adhesives for flexible packaging market in 2019 with around 64% of market share in terms of revenue, followed by medical packaging and industrial packaging, respectively,