The global elastic laminate market is poised for substantial growth, with Future Market Insights (FMI) estimating a net worth of US$ 5.6 billion in FY 2024. This remarkable expansion is propelled by the increasing utilization of elastic laminates by manufacturers of adult incontinence pads, diapers, and feminine care products, aiming to enhance comfort and functionality.
Fundamental Facts Cover in Elastic Laminate Market
- Market Valuation: The elastic laminate market is projected to be valued at US$ 5.6 billion in 2024.
- Growth Rate: The market is expected to grow at a CAGR of 2.7% from 2024 to 2034.
- Future Revenue: By 2034, the market is anticipated to generate US$ 7.3 billion in revenue.
- Key Material: Propylene-based elastomers are expected to hold a significant market share throughout the forecast period.
- Growth Opportunities: India is identified as a promising market offering growth opportunities for investors and stakeholders.
- Industry Leaders: Influential players in the market include Golden Phoenix Fiberwebs, Inc., Pantex International S.p.A., and Neos Italia Srl.
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Key Market Drivers
- Rising Demand for Comfort in Personal Care Products:
- The increasing use of elastic laminates in manufacturing adult incontinence pads, diapers, and feminine care products is a significant growth driver. These products require materials that provide comfort and flexibility, thereby boosting the demand for elastic laminates.
- Continuous Advancements by Key Players:
- Key industry players are actively investing in research and development to innovate and improve the composition of elastic laminates. Recently, Nitto Denko Corporation’s acquisition of Mondi Group’s personal care components business exemplifies strategic moves to enhance product offerings and support well-being and good health.
Business Growth Opportunities:
- E-commerce Expansion: Embrace and optimize online sales channels to reach a broader customer base, tapping into the growing trend of online shopping.
- Global Market Penetration: Explore and enter new international markets to diversify revenue streams and capitalize on untapped customer segments.
- Product Diversification: Expand product offerings or introduce complementary services to cater to evolving customer needs and preferences.
- Technology Integration: Invest in advanced technologies such as AI, IoT, or automation to enhance operational efficiency, reduce costs, and stay competitive in the market.
- Sustainability Initiatives: Implement eco-friendly practices and products to align with the increasing consumer demand for sustainable and socially responsible business practices.
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The list of Key Players Covered in the Elastic Laminates Market are:
- Golden Phoenix Fiberwebs, Inc.
- Pantex International S.p.A.
- Neos Italia Srl
- Mondi Group plc
- Berry Global Group, Inc.
- Exxon Mobil Corp
- Tredegar Corporation
- Schweitzer-Mauduit International, Inc.
- Kraton Corporation
- Aplix S.A.
Competitive Landscape
Elastic laminates are being used in diapers in adhesive closure systems such as frontal tapes and elastic mechanical tapes.
- Lohmann-Koester GmbH & Co. KG offers elastic laminates for application in baby diapers such as for frontal tapes, elastic mechanical tapes, and elastic side panels.
- Procter & Gamble introduced new and improved Pampers Cruisers Diapers with extra absorb channels, which enable babies to stay drier, and the diaper does not sag like ordinary diapers.
- Schweitzer-Mauduit International, Inc. increased the production of polypropylene-based netting and non-woven products.
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Key Segments Covered:
By Material Type:
- Ethylene-based Elastomers
- Propylene-based Elastomers
- Styrene-block Copolymers
- Others (PET-based)
By Structure:
- Elastic Strand Based
- Elastic Film Based
- Elastic Netting based
- Elastic Nonwovens Based
By Application:
- Medical
- Hygiene
- Other Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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