The global release liners market demonstrates a fragmented and a highly competitive landscape due to a large pool of manufacturers, finds a new research report by Transparency Market Research (TMR). At the forefront of this market are Mondi Group, 3M, Avery Dennison Corp., Gascogne Group, Rayven Inc., UPM, and Loparex Holding B.V.
Currently, these players are concentrating on technological advancements of their existing products and novel marketing strategies to gain an edge over their competitors. However, over the coming years, their focus is expected to shift towards product innovation to seize a greater share of this market. Mergers, acquisitions, and partnerships are also projected to gain prominence among players looking for expansion in the near future, states the report.
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According to TMR, the global market for release liners is likely to expand its opportunity at a CAGR of 6.30% during the period from 2016 to 2024, increasing from a value of US$10.0 bn in 2015 to US$17.0 bn by the end of the forecast period. Researchers predict the consumption of release liners to cross 66,278 mn m2. Among application segments, the pressure sensitive label stocks segment led the global market in 2015 with US$5.4 bn in revenues and is expected to remain dominant throughout the forecast period.
Asia Pacific to Witness Continued Demand for Release Liners
The report also analyses the global market for release liners in terms of its geographical presence. Asia Pacific, the Middle East and Africa, Latin America, North America, and Europe are the prime regional markets for release liners across the world. In 2015, Asia Pacific led the overall market with US$3.2 bn in revenues.
Thanks to the presence of release liner manufacturers and vendors in a large number, this regional market is likely to witness continued dominance over the forecast period. Besides, the rise in the construction of new manufacturing units in various Asian economies, such as Malaysia and Indonesia is also anticipated to support the Asia Pacific market for release liners in the coming years. The demand for release liners is also projected to experience a healthy rise in the Middle East and Africa over the next few years, states the report.
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Growing Emphasis on Better Labeling of Products to Fuel Demand for Release Liners
“The growing emphasis on better labeling in a number of end-use industries is the key driving force behind the tremendous rise in the demand for release liners,” says an analyst at TMR. In addition, the increasing investments in the food and beverage and the pharmaceutical industries, aimed at improving the packaging quality, is anticipated to reflect remarkably on this market over the forthcoming years.
Apart from this, the market is also expected to benefit significantly from the substantial rise in international trade, leading to the increasing demand for quality packaging and labeling, notes the study.
High Cost of Release Liners to Limit Market’s Growth
While the growth prospects of the global market for release liners are bright, the high cost of release liner products may limit their demand in the coming years. The high initial investments needed to setup manufacturing units are also restricting players to expand their businesses, impacting the overall market negatively, reports the study.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Release Liner Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”