Lamination Film Market: Introduction:
With the increasing rate of wastages across the globe the need for a strong yet flexible packaging has emerged which led to a rapid growth in the flexible packaging market. Today the global flexible packaging accounts to more than 20 percent of global packaging contribution which is about US $ 210 bn. One such segment which in particularly propelling the growth of flexible packaging is lamination films. Lamination films consist of multiple layers of composite material which provides insulation, strength and enhances the appearance of the product. Lamination film provides a barrier from oxygen, water vapor, and aroma. Industries such as food, pharmaceutical, horticulture have propelled the growth of lamination film market. Such packaging solution aids in slowing the process of the product wastage.
Technological development over the course of half a decade have largely contributed to the product development of lamination films such as the use of bio based material, pressure sensitive resistance, UV protected, etc. All such factors have increased the number of application use of lamination films. Moreover, in term of market value Asia- Pacific country accounts for a significant percentage of market share in global lamination films which is expected to remain dominant due to the growth of correlated industries such as food & beverages, pharmaceutical, personal & healthcare, etc.
Lamination Film Market – Market Dynamics:
Manufacturers of the lamination film are focusing on product development aiming to provide convenience to the consumer which is cost-effective and have less production impact on the environment. Also, industries such as food and pharmaceutical have increased the consumption of lamination film which has helped boost the sales of lamination film, especially in emerging regions.
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On the flip side, the regions such as Europe have stringent disposing regulation as compared to North America. Thus manufacturers have to come up with alternative plans for different regions which ultimately hampers the revenue of the manufacturers. Also, the majority of packaging materials are sourced in North America, due to which other regions have to bear huge raw material transportation cost. Despite such manufacturing barriers in lamination film the demand for the market is increasing year-on-year, and in particular the pouches segment. Overall the market for lamination films is expected to witness a strong CAGR growth over the forecast period.
Lamination Film Market – Market Segmentation:
Global lamination film market is segmented on the basis material type, product type, packaging type and end use type. On the basis of material type global lamination film market is segmented into paper, fabric, metal and plastic. The metal material is further sub-segmented steel and aluminum, while the plastic material is further sub-segmented into polyethylene terephthalate (PET), biaxial – Oriented Polypropylene (BOPP), biaxial – oriented polyethylene terephthalate (BOPET), cast polypropylene (CPP), polyvinylpyrrolidone (PVP), polypropylene (PP), others.
On the basis of product type, the global lamination film market is segmented into low melt film, UV protected film, metalized film, digital film, single sided film, thermal film, holographic film, matte film, others. On the basis of packaging type the global lamination film market is segmented into tubing, peel pouches, flat bags, roll stock, zipper bags, gusset bags, sleeves, others. On the basis of end use type, the global lamination film market is segmented into pharmaceutical, personal and healthcare, food and beverages, chemicals, household industry, horticulture.
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