Release Liner Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 01/25/2017 -- The demand for release liners is highly influenced by the progress in the packaging industry. The growing preference for innovative and quality packaging all over the world, together with the rising investments in the pharmaceuticals and the food and beverages industries, is likely to further boost the global market for release liners over the forthcoming years.
Driven by a widespread usage of release liners in pressure sensitive applications, the opportunity in this market is expected to increase from US$10.0 bn in 2015 to US$17.0 bn by 2024, rising at a CAGR 6.30% between 2016 and 2024. During the same period of time, the consumption volume is estimated to increase at a 4.30% CAGR.
Pressure-sensitive Labeling Technology-based Release Liners to Witness Continued Increase in Consumption
Adhesive applied, pressure sensitive labeling, in-mold, and sleeving are the prime labeling technologies utilized in release liners. Thanks to the heightened need for packaging for food and beverages and pharmaceutical products, the consumption of pressure sensitive labeling-based release liners has been greater than other liners. In terms of revenue, this segment is projected to retain its dominance throughout the forecast period and account for a share of more than 44% by 2024.
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The sleeving technology segment is also anticipated to gain significant momentum in the coming years due to the high level of efficiency provided by it to release liners. On the other hand, the adhesive applied technology segment will witness a decline in its market share over the forecast period.
Asia Pacific to Continue as Global Leader
The worldwide market for release liners is spread across Asia Pacific, the Middle East and Africa, Latin America, North America, and Europe. Among these, Asia Pacific surfaced as the leading regional market in 2015 with US$3.2 bn in revenues. Researchers expect this regional market to remain dominant over the forecast period. The presence of a large pool of manufacturers, as well as vendors of release liner products, in Asia Pacific is the key factor behind the growth of this regional market. Apart from this, the increasing construction of new manufacturing facilities in various Asian countries, such as Indonesia and Malaysia is also projected to boost the Asia Pacific markets for release liners over the forthcoming years.
The Middle East and Africa is also anticipated to exhibit a healthy rise in the demand for release liners in the near future, as the market is in its introductory phase in this region. However, Latin America may have to experience a stagnant rise in the years to come, as the regional market is moving towards maturity. Since the markets in North America and Europe have already matured, they are likely to witness sluggish growth over the next few years.