The global laminated labels market was valued at USD 75.36 billion in 2015. The increasing use of labels in the food & beverages, consumer durables, and pharmaceutical industry is anticipated to boost market growth from 2016 to 2024.
Laminated labels have observed increased preference in industrial applications as it ensures that the imprint remains readable, and the label is intact for a longer duration as compared to non-laminated labels. Laminated labels are widely used on outdoor products, products exposed to chemicals and wet or humid environments.
The growth of key end-use industries such as food & beverages and consumer durables particularly in emerging markets of Asia Pacific and the Middle East is expected to fuel the global laminated labels market over the forecast period.
U.S. laminated labels market revenue by application, 2014 - 2024 (USD Million)
On the basis of composition, the market is divided into laminate, facestock, adhesive, and release liner. The facestock is the printable portion of the label; it accounted for the largest share in the global laminated labels market in terms of revenue.
Release liner accounted for the second-largest in the laminated labels market. A release liner can be made of paper, coated paper, or film that is coated with silicone. The release liner helps retain the adhesive until the label is applied. The market is expected to grow at a low CAGR on account of increasing recycling of release liners and development of thinner release liners.
Laminate Type Insights
The polyester segment was the leading laminate type segment with volume exceeding 14 billion square meters, in 2014. The growing preference for durable labels with excellent chemical and heat resistance is anticipated to drive the market growth of polyester laminate for labels.
The UV sunscreen polyester and UL approved laminate segment is expected to grow at a high CAGR in the North American and European region. The increasing demand for UV resistance labels which can retain its aesthetic appeal and not fade over a long duration is expected to boost revenue growth.
Laminated labels sold in the form of reels led the market, with volume exceeding 36 billion square meters, in 2014. Most label application equipment uses labels in the form of reels for large-scale labeling purposes. This is projected to augment the demand for laminated labels in the form of reels.
Laminated labels sold in the form of sheets is projected to grow at a lower CAGR. The sheets segment is driven by household and institutional consumption for labeling utilities, desks, drawers, files, cabinets, boxes, and other personal products.
The food & beverages application segment is projected to account for the largest share and grow at a high CAGR over the forecast period. Rising demand for waterproof labels and labels used on refrigerated and frozen products is projected to drive the demand of laminated labels in this segment. The pharmaceutical application segment is projected to grow at a high CAGR on account of growing labeling requirement regulations in the pharmaceutical sector.
In terms of volume, Asia Pacific market led the global laminated labels industry with demand share exceeding 35% in 2015. The growth in this region is driven by growing food & beverage, consumer durables, and pharmaceutical industry. China and India are projected to experience vigorous growth followed by other South East Asian countries.
Increasing foreign direct investments and favorable governmental policies undertaken in China and India are projected to boost market growth in these regions. In 2014, Avery Dennison invested in the expansion of its Pune, India facility to provide customers with a wider range of products and more innovative solutions. The investment also included setting up a Global Innovation Centre in India for technological advancements in facestock, adhesives, silicone and other materials used in the manufacture of laminated labels.
Europe is expected to account for the second-largest share of the laminated labels market. The laminated labels market in Europe is driven by the countries such as Germany, the UK, France, Italy, and Spain. Germany is projected to grow at the highest CAGR over the forecast period on account of increasing demand for premium and filmic laminated labels.
Implementations of regulations governing labeling and packaging requirements as per CLP Regulation on the classification, labeling, and packaging of substances and mixtures is projected to boost the laminated labels market growth in Europe.
The laminated labels market is highly competitive with major companies involved in constant product innovation and research activities in order to boost their product offerings. Manufacturing and printing labels that are compliant with the US FDA Labeling Rules and other food and product labeling guidelines provides a competitive edge to companies operating in this industry.
Key companies in the industry include Avery Dennison Corporation, CCL Industries Inc., 3M Company, Constantia Flexibles Group GmbH, Coveris Holdings S.A., R.R. Donnelley & Sons Company, Torraspapel Adestor, Bemis Company, Inc., Flexcon Company, Inc., Stickythings Limited, and Bemis Company, Inc.
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