The market for paper-based laminates is predicted to grow from US$ 336.9 Million in 2022 to US$ 559.4 Million by 2032. Over the projection period, it is expected that sales of laminates made of paper will increase at a CAGR of 5.2%. The factors attributed to this growth are:
Paper-based laminates are a type of packaging material made by bonding paper layers together with adhesives and other materials. They are commonly used in the food and beverage industry to package various products, including snacks, coffee, and pet food.
The paper-based laminates market has experienced significant growth in recent years due to the increasing demand for sustainable packaging solutions and the rise of e-commerce. Consumers are becoming more aware of the environmental impact of packaging waste and are looking for alternatives that are biodegradable, recyclable, and made from renewable resources.
Avail Free PDF Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-4449
Factors Driving the Growth of the Paper Based Laminates Market
Several factors are driving the growth of the Paper Based Laminates Market, including:
- Consumer demand for sustainable packaging
- Government regulations on plastic waste reduction
- Technological advancements in the production of paper based laminates
- Increasing popularity of e-commerce leading to higher demand for packaging materials
Key Players Opting for Collaboration and Innovations to Capture Greater Market Share
The major market participants are always working to innovate and work together to provide high-quality laminates made of paper. They are encouraging the industry to embrace more of these surface elements by employing paper-based laminates in conventional, cost-effective methods, which is boosting the market’s expansion.
Greenlam Industries Ltd., one of the top three laminate producers in the world and the biggest in Asia, introduced innovative laminates in November 2020 that are effective against SARS-CoV-2 with 99% efficacy within 30 minutes of contact with the laminate surface and destroy the virus totally in 45 minutes.
The following companies have been identified as key market participants in the worldwide paper-based laminates market:
- Kevin Polymers Pvt. Ltd
- Attwater & Sons Ltd.
- Custom Composites Ltd
- Eagle Insulation
- Impreglam Electronics Limited
- Bakelite Hylam Limited
- Greycon
- Guangzhou Remica Building Materials Co., Ltd
- Kblaminates
- Sigma Laminates.
Company Strategies for Growth
Companies in the Paper Based Laminates Market are adopting various strategies to increase their market share and grow their business. Some of these strategies include:
- Acquisitions and mergers to expand their product portfolio and market reach
- Collaboration with other players in the industry to develop new products and technologies
- Investment in research and development to improve the properties and performance of paper based laminates
- Expansion into new geographies to tap into new markets and customer segments
Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-4449
Global Paper Based Laminates Market: Market Dynamics
The factors boosting the growth of global paper based laminates market is due to growing building & construction industry, since many years paper has become an increasing preference for surface upgrading of wood-based materials. For higher voltage and when greater electrical stability is needed in varying humidity higher grades of paper based laminates are chosen.
The factor decreasing the demand for global paper based laminates is due to property of paper based laminates, strength of paper based is not as high as other materials and hence are not preferred in application where high toughness, high bearing property and high stress carrying capability is required.
Challenges Facing the Paper Based Laminates Market
Despite the many advantages of paper based laminates, there are also several challenges facing the market. Some of these challenges include:
- Cost- Paper based laminates can be more expensive to produce than traditional plastic packaging materials, which can make them less attractive to some companies.
- Performance- While paper based laminates have improved in terms of performance, they still may not provide the same level of barrier protection as some plastic materials. This can limit their use in certain applications.
- Supply Chain Issues- The supply chain for paper based laminates can be complex and fragmented, which can make it difficult for companies to secure a consistent supply of materials.
Report Customization available @ https://www.futuremarketinsights.com/customization-available/rep-gb-4449
Key Segments in the Paper Based Laminates Market
By Type:
- B5
- B4PQ
- B4
- B1
By Application:
- Commercial industry
- Automotive industry
- Manufacturing industry
- Infrastructure
- Hospitality industry
- Retail
- Healthcare industry
By Base Finish:
- Satin
- Gloss
- Matte
By Basis of Paper Type:
- Decor paper
- Overlay
- Laminating Kraft
- Absorbent Kraft
By Basis of Pressure:
- Low-pressure laminates
- High-pressure laminates
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
