Heat Seal Coating: Market Size. From $8. 08 billion in 2020, the global Heat Seal Coating market is projected to reach $15. 29 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 8.
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Heat Seal Coating Market Analysis & Trends - Industry Forecast to 2028" - https://www.reportlinker.com/p06127640/?utm_source=GNW
3% from 2020 - 2028 timeframe.
Some of the prominent trends that the market is witnessing include, growing demand in the food & beverages industry, increasing growth rate of the flexible packaging and rising eco-friendly trends.
Global Heat Seal Coating Market: Market Dynamics
Heat seal coating plays an important role in both design and functionality of flexible packaging. The increasing demand for heat seal coating from the food and beverages industry is driving the growth of the heat seal coating market as it requires tight packaging for the shipment, as the delay in delivery time can spoil the food, and heat seal coating gives the best solution to the issue. Factors such as increasing demand for ready-to-eat food and smaller packaging size are driving the heat seal coating market.
For instance, in October 2018, Bostik, Inc. launched its new anti-fog heat seal coating formulations, Vitel 1922AF, for food packaging applications. The new product is a 100% solid formulation designed for PET (Polyethylene Terephthalate) lid stock. The new product is designed to be used in refrigerable applications, in order to reduce fogging from moisture-containing food products.
On the other hand, the rising eco-friendly trends influence the demand from customers to use environment-friendly materials in different types of products will fuel the market growth.
Impact of COVID-19 on Heat Seal Coating
The outbreak of COVID-19 had a positive impact on the Heat Seal Coating Market. The demand for heat seal coating for healthcare packaging and related substrates has increased. It has influenced the growth of packaging for pharmaceuticals as it is essential during the pandemic. Also, the change in the consumption pattern of the consumers from offline to online and they intend to double their spending at online-only grocery stores, has led to a powerful speeding up of e-commerce shipments and other home-delivery services.
By Coating Type
Water Based Segment Dominate the Market in 2020
The water based segment made huge revenue in 2020 and growing its prominence during the forecast period due to the increasing demand from end-use industries. Its low heat seal initiation temperature makes it an excellent solution for flexible food packaging. Factors such as cost-effective, low-temperature sealing, odorless lidding material are driving the segment growth.
Asia Pacific Region is Leading in the Global Market Place
The Asia Pacific is likely to have a huge demand in the forecast period due to the rapid urbanization and changing lifestyle, which has led to increasing demand for ready-to-eat or convenience food products in the region. The available population in countries such as India and China is enhancing the production rate and industries in the region.
List of the Key Players profiled in the market Include:
• Arkema S.A.
• Cattie Adhesives
• Emax Label Solutions
• H.B. Fuller Company
• Henkel AG & Co. KGaA
• Michelman, Inc.
• Mitsui Chemicals
• Paramelt B.V.
• Taihei Chemicals Limited
• The Dow Chemical Company
• Toyochem Co Ltd.
• Trillium Products Ltd
• Uflex Limited
• Wacker Chemie AG
• Yasuhara Chemical Co., Ltd.
List of the regions/countries profiled in the market Include:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
• Saudi Arabia
• Rest of Middle East
• Rest of Latin America
Rest of the World (RoW)
• South Africa
Read the full report: https://www.reportlinker.com/p06127640/?utm_source=GNW
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