iCrowdNewswire Jan 21, 2021 3:00 AM ET
Changing lifestyle, coupled with rising disposable income, has led to increasing demand for release liners. Market Research Future (MRFR)’s analysis has found out that the global release liner market is anticipated to expand at a CAGR of 4.90% during the projection period 2018 to 2023. The market’s valuation, according to the report, is poised to reach USD 98,663.8 Mn mark by 2023. The rapid developments in packaging technologies are the primary factor anticipated to boost the revenue generation in the nearby future.
Industry leaders are leveraging innovative and attractive packaging for gaining an edge over competitors. It has emerged as a key area of focus for the marketers. This, in turn, is likely to have a positive impact on the growth of the release liner market in the years to come. The pharmaceutical and food & beverage industries are anticipated to dictate the future trajectory of the market through the assessment period. However, on the flip side, the high cost of these release liners can pose a challenge to the market participants.
By substrate, the global release liner market has been bifurcated into paper-based and film-based. The film-based segment is currently dominating the market and is anticipated to retain its forefront position through the review period exhibiting a relatively higher CAGR.
Based on labeling technology, the release liner market has been segmented into glue applied, shrink sleeve, pressure sensitive, stretch sleeve, in-mold, and others. Among these, the glue applied segment is projected to dictate the growth trajectory closely trailed by the pressure sensitive segment in the forthcoming years.
By printing process, the global release liner market has been segmented into digital printing, flexography, offset, gravure, and screen. The flexography segment held the lion’s share of the market in 2017. However, the digital printing segment is anticipated to gain traction and expand at the highest CAGR across the projection period.
On the basis of application, the release liner market has been segmented into food & beverage, cosmetics & personal care, medical & pharmaceutical, electronics, automotive, and construction. Among these, the food & beverage segment is likely to retain the most substantial share of the market owing to high disposable income.
The players participating in the share analysis of the global release liner market and profiled in this MRFR report are 3M (U.S.), Polyplex (U.S.), Alhstorm-Munksjo (Sweden), UPM Raflatac (Finland), Gascogne Flexible Company (Norway), Avery Dennison Corporation (U.S.), Mondi (U.S.), Eastman Chemical Company (U.S.), Sappi Limited (South Africa), LINTEC CORPORATION (Japan), and Rayven Inc. (U.S.).
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By region, the global release liner market has been segmented into five regions – North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). Asia Pacific held a major share of the global market accounting for 37.5% share. The regional market is likely to reach a valuation of USD 40,903.4 Mn by the end of the projection period reflecting a CAGR of 6.39%. The region is anticipated to witness an increase in the number of manufacturing plants which is likely to facilitate the expansion of the release liners market in the region over the next few years.
North America is expected to scale a CAGR of 3.79% across the review period. Meanwhile, Europe is also projected to exhibit growth potential over the next couple of years.
In May 2019, ITASA, a manufacturer of high-quality release liners, has initiated production at its latest plant in Querétaro, Mexico. The plant is expected to serve the entire continent.
In July 2018, Verso Corporation’s Androscoggin Mill has introduced technological upgrades for increasing its release liner paper production capacity.
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