Published Date : 13 Sep 19 | Views: 38 | Industry : Automation & Transportation
Myriad of Decorative Shades to Drive the Use of BOPP Based Lamination Films
The thermal lamination films market is divided on the basis of product as BOPP based lamination films, BOPET based lamination films, BOPA based lamination films, and others. BOPP based lamination film is gaining traction in the market owing to its availability in varied decorative shades and cost effectiveness as compared to other product types. On the other hand, BOPET based lamination films may witness significant growth in the coming years owing to their resistance to tear and breakage.
By application, the thermal lamination films market is segmented based on application as industrial printing, commercial printing, and others. Commercial printing enjoys a larger market share owing to increasing demand for thermal lamination films in laminating various products such as magazines, newspapers, manuals, folders, and various other items.
North America to Acquire a Substantial Market Share
Consolidation of leading players in North America is estimated to help the region take a lead in the thermal lamination films market in the forthcoming years. In addition, North America is the largest producer of thermal lamination films. This gives the region an advantage to acquire a larger share in the market. Luxury and printing industries are comparatively developed in this region, thereby driving the thermal lamination films market in North America.
On the other hand, Asia Pacific is likely to witness significant growth in the coming years. This growth is attributed to emerging industries such as food and beverages, personal and healthcare, pharmaceutical, wherein usage of thermal lamination films is rising.
Market Participants Making a Strong Presence in the Market
Company nine, Drytac, COSMO Films(GBC), Derprosa, GMP, Royal Sovereign, Ipak, New Era, Hongqing, KANGLONG, PKC Co., Ltd., Film Corporation, Shagun Film, Transilwrap, D&K, FlexFilm, Kangde Xin, Dingxin, EKO Film, and Eluson Film are some of the prominent players operating in the global thermal lamination films market. Moreover, the market participants are emphasizing on technological innovations and equipment upgradation, which is, in turn, helping them to less the cost and enhance the overall quality of the product.
Product Development & Technological Advancements to Boost the Market Growth
Technological advancements and extensive research and development activities by the key players are positively influencing the thermal lamination films market growth. Manufacturers are also focusing on the development of products that provide convenience to the end user, are cost effective, and have low environmental impact.
Demand from the end-user industries such as food & beverages and pharmaceutical is on the rise, which is projected to foster the market growth in the near future. Additionally, advantages associated with the thermal lamination films including strength, matte finish, stress and chemical resistance, and exceptional flexibility are increasing its application across the globe. However, constant changing cost of raw materials is likely to act as a restraint in the market.