Global Release Liner Market to Exhibit 6.30% CAGR
Posted: Apr 14, 2019
The swiftly developing packaging industry is a key factor driving growth of the release liners market. Rising preference of consumers for high-quality and innovative packaging is boosting adoption of release liners which is benefiting for growth of the global release liners market. Furthermore, increasing investment in packaging across numerous industries such as the food and beverages and pharmaceuticals are enhancing growth of the global market for next few years.
Additionally, rising label printing technology and growing demand for film-based liners are creating lucrative opportunities for key players operating in the release liners market. However, need for proper disposable methods in order to reduce wastage is bolstering growth of global release liner market. Additionally, low purchasing power of the numerous manufacturers are restraining growth of the global release liner market.
According to the report by TMR, the global release liner market was valued at around US$10.0 bn in 2015 and is anticipated to expand at a CAGR of around 6.30% from 2016 to 2024 to attain value of US$17.0 bn by the end of 2024. In terms of volume, the market is expected to expand with a CAGR of 7.40% over the same period of prediction.
Rising Demand for Better Packaging to be Beneficial for Growth of Market
On the basis of application, the global release liner market is segmented into envelopes and packaging, graphic arts, hygiene, industrial, medical, pressure sensitive label stock, tapes, and others. Of these, envelopes and packaging is dominating market due to higher demand for better packaging for storing the goods. However, the demand for release liners in graphic arts is increasing which is likely to fuel growth of the segment in next few years.
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On the basis of labelling technology, the market is segmented in to adhesive applied, in-mold, pressure sensitive labeling, and sleeving. Of these, pressure sensitive labeling is dominating the global release liners market and expected to account for 44% shares of overall market in next few years. High growth of this segment can be attributable to the rising need for packaged food and improved packaging for beverages are fuelling growth of the global release liner market. However, sleeving is expected to expand with faster CAGR over the forecast period due to high level of efficiency.
Growing Construction Industry to Bolster Growth in Asia Pacific
On the basis of region, the global release liner market is segmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World. Of these, Asia Pacific is dominating the global market for release liner owing to presence of large pool of manufacturers in the region. Thanks to these factors, the global release liner market accounted for US$3.2 bn in 2015. Additionally, growing construction industry in the region is fuelling growth of the global release liner market. Thanks to this factor the region is expected to remain dominant over the forecast period.
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Key players operating in the release liner market include Mondi Group, Avery Dennison Corp., 3M, Gascogne Group, UPM, and Rayven Inc. These companies are facing intense competition due to presence of numerous local players. The local players have improved their production capacity substantially. This factor will likely to intensify the competition for next few years
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