Global Heat Seal Coatings Market growing at a CAGR of 6.9% from 2023 to 2031
Category : Materials And Chemicals | Published Date : Oct 2023 | Type : Press Release
Key Market Overview
Consegic Business Intelligence analyzes that the heat seal coatings market is predicted to grow at a compound annual growth rate of 6.9% from 2023 to 2031 and is expected to reach USD 15,989.33 million in 2031 and 9,391.09 million in 2023 which was valued at USD 8,832.40 million in 2022.
The report highlights the increasing demand for flexible packaging, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the heat seal coatings market.
Global Heat Seal Coatings Market By Overview
The heat seal coatings market is bifurcated into type and application. Based on type, the market is segmented into solvent-based heat seal coatings, water-based heat seal coatings, and hot-melt adhesives. In 2022, the solvent-based heat seal coatings segment dominated the overall heat seal coatings market. Based on application, the market is segmented into food and beverage packaging, pharmaceutical packaging, cosmetics packaging, and others. In 2022, food and beverage packaging segment dominated the overall heat seal coatings market.
Get Free SampleMarket Dynamics
Driver:
- Increasing demand for flexible packaging is driving the market growth.
- Rising demand for packaged food and beverages is boosting the growth of the heat seal coatings market.
Restraints:
- Prevalence of alternatives is hampering the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Solvent-based heat seal coatings, Water-based heat seal coatings, and Hot-melt adhesives |
| By Application | Food and Beverage Packaging, Pharmaceutical Packaging, Cosmetics packaging, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Henkel AG & Co. KGaA, Bostik, and Michelman, which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the heat seal coatings market is expected to witness substantial growth in the coming years due to growing demand for sustainable packaging solutions in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Henkel AG & Co. KGaA
- Bostik
- Michelman
- Dow Inc.
- Flint Group
- Ashland Global Holdings Inc.
- Avery Dennison Corporation
- 3M
- Bemis Company
- Amcor plc
