The global market for release liners is likely to expand at a compound annual growth rate (CAGR) of 6.3% from 2016-2024, according to a recent report from Transparency Market Research. The market reportedly will reach $10 billion in 2015 to $17 billion by the end of the forecast period. Researchers predict the consumption of release liners to cross 66,278 million sq m.
Among application segments, the pressure-sensitive label stocks segment led the global market in 2015 with $5.4 billion in revenues, and is expected to remain dominant throughout the forecast period.
In 2015, Asia Pacific led the overall market with $3.2 billion in revenues. Thanks to the presence of many release liner manufacturers and vendors, this regional market is likely to witness continued dominance over the forecast period. Rise in the construction of new manufacturing units in various Asia-Pacific economies, such as Malaysia and Indonesia, is also anticipated to support the Asia-Pacific market for release liners in the coming years. Demand is also projected to experience a healthy rise in the Middle East and Africa over the next few years.
The increasing investments in the food and beverage and the pharmaceutical industries, aimed at improving the packaging quality, is also anticipated to reflect remarkably on this market over the forthcoming years. 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.
While the growth prospects of the global market for release liners are high, 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.
For more information, visit www.transparencymarketresearch.com.