Global velvet lamination films market to reach USD 123.7 Million in 2024, growing at a 4.2% CAGR, projected to hit USD 186.2 Million by 2034.
NEWARK, DE / ACCESSWIRE / August 21, 2024 / The global velvet lamination film market has experienced substantial growth, reaching a size of USD 117.9 million in 2023. Looking ahead to the forecast period from 2024 to 2034, the market is expected to exhibit a steady 4.2% CAGR, with the total market value projected to surge from USD 123.7 million in 2024 to USD 186.2 million by 2034.
Velvet packaging has become increasingly popular in a multitude of industries due to its sophisticated feel. These films are also affordable, making it accessible for small businesses. Velvet lamination films are particularly popular in countries with high incomes.
These films offer protection against scratches and moisture, enhance durability, and make products stand out on shelves. Manufacturers are, thus, developing improved films, including water-based options, which are more adhesive, durable, and eco-friendly.
Digital printing technologies are also becoming more compatible with these films, allowing for customized solutions. The e-commerce boom in developing and underdeveloped economies is also boosting the velvet lamination market.
Velvet lamination films provide protection, visual appeal, and durability, helping products survive shipping and handling processes. The film's soft texture creates a memorable unboxing experience, enhancing brand perception and customer satisfaction.
However, widespread use in luxury goods and high-end packaging sectors may diminish its perceived value over time, leading brands to seek newer, more distinctive packaging options.
"Companies in the velvet lamination film market must also seek sustainable options as these trends are currently ruling the packaging world. This would also help them gain more traction among eco-conscious consumers and businesses", Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Velvet Lamination Film Market Report
BOPP velvet lamination film dominates the market with a share of 57.8% in 2024.
Based on application, the printing segment leads the velvet lamination film market with a share of 67.2% in 2024.
The velvet lamination film market in India is anticipated to grow at a CAGR of 6.5% through 2034.
The velvet lamination film market in China is estimated to rise at a 5.8% CAGR through 2034.
The velvet lamination film market in France has the potential to increase at 1.6% CAGR through 2034.
The United States velvet lamination film market is predicted to rise by 2.7% CAGR through 2034.
The velvet lamination film market in the France is very likely to grow at a CAGR of 1.6% through 2034.
Competitive Strategies Adopted by Active Market Players
The velvet lamination film market is highly competitive, driven by innovations in sustainability, smart packaging, digital printing, and sensory marketing.
Companies like Cosmo Films, Dunmore, EKO Co., Ltd., D&K Group, and Graph-Pak Pty Ltd. are investing in eco-friendly, recyclable solutions, digital printing, and temperature-sensitive velvet films.
New entrants are also disrupting the market with novel applications and color-changing films.
Recent Developments
Dunmore unveiled their new velvet lamination film, DUN-SOFTTM, in March 2024 for use in packaging and labeling applications. The film satisfied regulatory criteria for indirect food contact while providing exceptional haptic qualities.
In April 2024, Cosmo Films, a prominent player in the velvet lamination film industry, consolidated its activities by moving its manufacturing line from Korea to India.
To Gain In-Depth Insights on Market, Browse Complete Report: https://www.futuremarketinsights.com/reports/velvet-lamination-film-market
Prominent Companies
Transcendia, Inc.
Taghleef Industries
Toray Plastics (America), Inc.
Innovia Films
Jindal Poly Films Ltd.
POLIFILM GmbH
Cosmo Films
DUNMORE
EKO Co., Ltd.
D&K Group
Graph-Pak Pty Ltd
Key Segments of Market Report
By Material:
Velvet lamination films are available in two variants when it comes to materials: bi-axially oriented polypropylene and polyethylene terephthalate.
By End Use:
The market serves multiple end-use industries, including manufacturing, publishing, and advertising & marketing.
By Application:
In terms of application, the market is classified into packaging and printing.
By Region:
The sector has been analyzed with the following regions covered: North America, Latin America, Europe, South Asia & Pacific, East Asia and the Middle East & Africa.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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