Laminating Adhesives Benefit from Growth in Flexible Packaging

摘要

The market for laminating adhesives is expected to register a CAGR of almost 5.7% from 2019-2024,according to a recent report from Mordor Intelligence.Major factors driving the market include rapid growth in the flexible packaging industry and increasing demand for packaged food.Growing concerns regarding plastic disposal are expected to hinder market growth.Packaging is one of the key factors considered by manufacturers.With the growing number of manufacturing units,food processing plants,and increasing industrial production,the global packaging industry is witnessing robust growth.In the last few years,the packaging industry has been experiencing a transition,where the manufacturing and industrial sector has been adapting to flexible packaging.Due to this trend,rigid packaging is losing its share to flexible packaging in the global packaging industry.Benefits such as light weight,easy handling,less space,longer shelf life,easy transit,damage resistance,and better printability have made flexible packaging popular.In 2018,flexible packaging held the highest share(>40%)in the global packaging market.This trend is expected to continue over the forecast period.