Laminating Film Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth And Forecast 2021-2026

Report Code: CMR 20403 Report Format: PDF + Excel

Laminating Film Market Overview

Laminating film market size is forecast to reach US$27.7 billion by 2026, after growing at a CAGR of 6.4% during 2021-2026. Laminating film made up of polypropylene, polyester, and nylon is expected to continue to witness rapid expansion as numerous trade finishers use it as a new service to existing laminating services. Laminating film and a pre-adhesive plastic film are available, and the lamination process is identical to foil stamping. The demand is growing due to an increase in R&D activities to develop new products with shorter cure times, lower emissions, and higher bond power. Furthermore, across sectors there is a broader trend of packaging shifting from rigid to flexible formats. In the near future, this pattern is expected to promote many developments in barrier laminates for shelf life and aesthetic pouch designs. During the forecast period, however, high manufacturing costs and volatile raw material costs can limit this development.

COVID-19 Impact

Due to the COVID-19 pandemic, the impact was seen on various end-use industries from manufacturing to food processing. Most of the manufacturing industries such as consumer electronics manufacturers, food processing plants were in shut down mode, due to which, the manufacturers experienced a huge loss in terms of production and revenue. The simultaneous supply and demand shock with shutdowns led to an extremely deep slump. According to the United Nations Industrial Development Organization, the average percentage decrease in the Index of Industrial Production (IIP) across countries between March 2020 and December 2019 was 5.6 percent, while the average percentage decrease between March 2020 and June 2020 was 2.5 percent. In the first quarter of 2020, the average IIP percentage decrease across lower- and middle-income countries was higher than the overall sample's average percentage decrease. The reduction in the production of consumer goods, processed foods, and electronic products reduced the demand for laminating films, which reduced the growth of the laminating films market in the year 2020.

Report Coverage

The report: “Laminating Film Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the laminating film market.
By Material: Polyethylene (PE), Polyethylene Terephthalate (PET), Biaxially-Oriented Polypropylene (BOPP), Biaxially-Oriented Polyethylene Terephthalate (BOPET), Nylon, Polycarbonate (PC), Poly-Vinyl Chloride (PVC), Polypropylene (PP), and Others
By Product Type: Standard Film, Low Melt Film, UV Protected Film, Metalized Film, Digital Film, Thermal Film, Pressure Sensitive Film, Holographic Film, Heat Activated Film, and Others
By Finish: Gloss, Matte, Silky, and Others
By End-Use Industry: Food & Beverages (Poultry, Soft Drinks, Bakery, Dairy, Dried & Snack Foods, Chocolates, Frozen Foods, Fruit Juices, Mineral Waters, Pet Foods, and Others), Electrical & Electronics, Medical & Healthcare (Syringes, Gloves, Sutures, Surgical Instruments, Medicines & Tablets, and Others), Automotive (Hood Liners, Door Liners, Door Trims, Carpets, Seating Upholstery, and Others), Cosmetics & Personal Care (kin Care, Hair Care, Wipes, Soap & Detergents, and Others), Agriculture (Fertilizers, Pesticides, Insecticides, Cattle & Poultry Feeds, and Others), Paper & Paperboard (Book Covers, Posters, Diary, Magazines, Brochures, and Others), and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

  • Asia-Pacific dominates the laminating film market, owing to the flourishing packaging industry in the region. The packaging industry is flourishing in the region, owing to the increasing market growth of end-use industries such as medical, electronics, and agriculture, which extensively utilizes packaging materials.
  • There is a larger trend of packaging shift from rigid to flexible formats across industries. In the near future, this pattern is expected to promote many developments in barrier laminates for shelf life and aesthetic pouch designs.
  • Adoption of flexible packaging for product portfolio extensions and new brand launches from established players in the food, beverage, and home care chemical industries are significant factors fueling the market growth.
  • However, during the projected era, high production costs and volatile raw materials costs could limit this development. Also, few regions have to bear huge raw material transportation costs, which also limits the market growth.

Figure: Asia-Pacific Laminating Film Market Revenue, 2020-2026 (US$ Billion)
Laminating Film Market
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Laminating Film Market Segment Analysis – By Material

The polyethylene segment held the largest share in the laminating film market in 2020 and is growing at a CAGR of 7.8% during 2021-2026. Polyethylene (PE) laminating films are often used for packing and wrapping food and pharmaceutical products. Polyethylene laminating film is used for the most inner layer of packaging materials and/or is applied to paper or card sheets to enhance and protect the printed matter. Polyethylene laminating films possess extensive characteristics such as superb sealability, strong tack force, excellent stability & performance on high-speed lines, excellent transparency, tearing resistance, chemical & grease resistance, and more. And owing to these extensive characteristics of polyethylene laminating films its demand is increasing for various applications.

Laminating Film Market Segment Analysis – By End-Use Industry

The food and beverages segment held the largest share in the laminating film market in 2020 and is growing at a CAGR of 9.3% during 2021-2026. Lamination films made up of polypropylene, polyester, and nylon consist of multiple layers of composite material and offer insulation, strength, enhances the appearance of the product, and makes the material very less susceptible to contamination as well as pilferage. Lamination film made up of polypropylene, polyester, and nylon provides a barrier from oxygen, water vapor, and aroma due to which the shelf life of food products becomes longer. It is also anticipated that the demand for laminating films from the food and beverages industry will see a constant strong growth because of an increase in convenient packaging for ready-to-eat foods, fruit juices, snacks, frozen meals, and more. Furthermore, factors such as flexibility comfort, good sealing strength, and vacuum finish also have a positive effect on the growth of laminating film market in the food & beverages industry.

Laminating Film Market Segment Analysis – Geography

Asia-Pacific region held the largest share in the laminating film market in 2020 up to 38% and is growing at a CAGR of 43% during 2021-2026, owing to the increasing demand for the packaging industry in the region. The demand for the packaging industry in the Asia Pacific is being fueled by growing demand from the food & beverages industry. According to the United States Department of Agriculture (USDA), food and beverage goods produced by Japan's food processing industry totaled US$216.8 billion in 2018, up slightly from 2017. According to the Ministry of Food Processing Industries (MOFPI), the total consumption of the food and beverage segment in India is expected to increase from US$369 billion in 2017 to US$1.142 trillion by 2025, the output of the food processing sector (at market prices) is expected to increase to US$958 billion for the same period. And since the food industry is flourishing in Asia-Pacific, it is anticipated that the laminating film market will be also flourished. In addition, the growing and electrical & electronics, and medical & healthcare industries lead to an increase in the demand of packaging industry to keep product safe and secure, which leads to an increase in the demand for laminating films made up of polypropylene, polyester, and nylon. Thus, due to the growing demand from the packaging industry, the market for laminating films will be flourished.

Laminating Film Market Drivers

Growing Demand from Major End-Use Industries

A few of the major end-use industries for the laminating films market are medical & healthcare, automotive, electrical & electronic industry. Decorative film laminates made up of polypropylene, polyester, and nylon provide an opportunity for car manufacturers to achieve the high-end appearance of automobile substrates such as metal and carbon fiber without increasing the cost. Laminating films are also used in the electrical & electronics industry for sheathing of Industrial Jelly filled cables or fiber optic cables. Having proven themselves from decades of use in automobiles, computers, and cell phones, film laminates are primed to be used in a myriad of applications including medical devices, furniture, recreational products, consumer goods, and, in fact, any industry that uses painting, hydrographic, or plating. Furthermore, the rise in the adoption of film lamination made up of polypropylene, polyester, and nylon for new applications such as advertising and photography provides ample opportunities for the market. The growing popularity of colorful brochures and packaging is further fueling the growth of the market.

The Growing Technological and Product Development of Lamination Films

For half a decade, technical advancement has largely led to the product development of lamination films, such as the use of bio-based fabrics, pressure-sensitive protection, UV protection, and more. For instance, in July 2020, Gilt Metalized was launched by Nobelus. Gilt Metalized is a thermal printable laminate film with a beautiful gold reflective foil effect. Graphics producers and brand owners can now create show-stopping special effects with properties that allow spot varnishes and foil stamping items to conform to the film. Cosmo Films introduced a metalized velvet lamination film for the luxury packaging market in October 2018. The newly created film has been designed to give the laminated paper/paperboard or box an intense silver color and a rich velvet touch. In April 2019, KDX has introduced a new line of thermal lamination films that have been certified for use with Karlville's HP Indigo Pack Ready Laminator. With a simple and food-safe lamination solution, Pack Ready Lamination extends the value of HP Indigo digital print by greatly reducing turnaround time on high-quality flexible packaging. Thus, such technological development and product development aid in expanding the number of applications associated with laminating films, owing to which it is anticipated that the laminating films market will be driven over the forecast period.

Laminating Film Market Challenges

Growing Regulation on Hazardous Substances.

Regulatory agencies such as the Regulation of Substances Harmful to Health (COSHH), the European Union (EU), the Licensing, Assessment, Permit, and Prohibition of Chemicals (REACH), the Internationally Harmonized Scheme (GHS), and the Environmental Protection Agency (EPA) in Europe and North America are currently facing problems in the chemical industry. To limit VOC emissions, manufacturers in Europe and North America need to comply with these legislations about the production and use of laminating adhesives in different applications. This has influenced the development of companies that mainly use solvent-based technologies to produce laminating adhesives. Manufacturers are expected to change from solvent-based to water-based technology to comply with these regulations. This is a big obstacle for the players in the business. In addition, there are drawbacks of water-based technologies, such as higher manufacturing costs and longer drying time.

Laminating Film Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the laminating film market. Laminating film market top companies are COSMO Films (GBC), Transilwrap, D&K, FlexFilm, Derprosa, GMP, Royal Sovereign, Ipak, Drytac, PKC, J-Film Corporation, Shagun Films, and Eluson Film, among others.

Acquisitions/Technology Launches

  • In February 2019, Nordmeccanica (Italy) and the COIM Group (Italy) partnered to create a new adhesive technology suitable for high output efficiency and consistency in the lamination of high barrier systems in flexible packaging.

Relevant Reports

Report Code: CMR 61011

Report Code: FBR 0122 

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1. Laminating Film Market- Market Overview
    1.1Definitions and Scope
2. Laminating Film Market - Executive Summary
    2.1 Key Trends by Material
    2.2 Key Trends by Product Type
    2.3 Key Trends by Finish
    2.4 Key Trends by End-Use Industry
    2.5 Key Trends by Geography
3. Laminating Film Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Laminating Film Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Laminating Film Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Laminating Film Market - Market Forces
    6.1Market Drivers
    6.2Market Constraints
    6.3Porters Five Force Model
        6.3.1Bargaining Power of Suppliers
        6.3.2Bargaining Powers of Buyers
        6.3.3Threat of New Entrants
        6.3.4Competitive Rivalry
        6.3.5Threat of Substitutes
7. Laminating Film Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Laminating Film Market – By Material (Market Size -$Million/Billion)
    8.1 Polyethylene (PE)
    8.2 Polyethylene Terephthalate (PET)
    8.3 Biaxially-Oriented Polypropylene (BOPP)
    8.4 Biaxially-Oriented Polyethylene Terephthalate (BOPET)
    8.5 Nylon
    8.6 Polycarbonate (PC)
    8.7 Poly-Vinyl Chloride (PVC)
    8.8 Polypropylene (PP)
    8.9 Others
9. Laminating Film Market – By Product Type (Market Size -$Million/Billion)
    9.1 Standard Film
    9.2 Low Melt Film
    9.3 UV Protected Film 
    9.4 Metalized Film
    9.5 Digital Film
    9.6 Thermal Film
    9.7 Pressure Sensitive Film
    9.8 Holographic Film
    9.9 Heat Activated Film
    9.10 Others
10. Laminating Film Market – By Finish (Market Size -$Million/Billion)
    10.1 Gloss
    10.2 Matte
    10.3 Silky
    10.4 Others
11. Laminating Film Market – By End-Use Industry (Market Size -$Million/Billion)
    11.1 Food & Beverages Packaging
        11.1.1 Poultry
        11.1.2 Soft Drinks
        11.1.3 Bakery
        11.1.4 Dairy
        11.1.5 Dried & Snack Foods
        11.1.6 Chocolates
        11.1.7 Frozen Foods
        11.1.8 Fruit Juices
        11.1.9 Mineral Waters
        11.1.10 Pet Foods
        11.1.11 Others
    11.2 Electrical & Electronics
    11.3 Medical & Healthcare
        11.3.4Surgical Instruments
        11.3.5Medicines & Tablets
    11.4 Automotive
        11.4.1Hood Liners
        11.4.2Door Liners
        11.4.3Door Trims
        11.4.5Seating Upholstery
    11.5 Cosmetics & Personal Care
        11.5.1Skin Care
        11.5.2Hair Care
        11.5.4Soap & Detergents
    11.6 Agriculture
        11.6.4Cattle & Poultry Feeds
    11.7 Paper & Paperboard
        11.7.1Book Covers
    11.8 Others
12. Laminating Film Market - By Geography (Market Size -$Million/Billion)
    12.1 North America
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East Saudi Arabia U.A.E Israel Rest of the Middle East
        12.5.2 Africa South Africa Nigeria Rest of Africa
13. Laminating Film Market – Entropy
    13.1New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Laminating Film Market – Market Share Analysis Premium
    14.1 Market Share at Global Level - Major companies
    14.2 Market Share by Key Region - Major companies
    14.3 Market Share by Key Country - Major companies
    14.4 Market Share by Key Application - Major companies
    14.5 Market Share by Key Product Type/Product category - Major companies
15. Laminating Film Market – Key Company List by Country Premium Premium
16. Laminating Film Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"