RELEASE LINERS MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2023 - 2028)

 Asia-Pacific holds a significant share of the release liners market, and it is expected to witness the fastest growth during the forecast period.

Release liners are found in many components of vehicle production, from pressure-sensitive tapes for brakes lights, carpets, upholstery, and door trim, to the wide variety of gaskets used for vibration reduction and sound dampening and the emerging production of batteries for EV vehicles. The demand for release liners majorly arises from the automotive and medical sectors in China. With the increasing investments in the country’s automotive, medical, and packaging sectors, the demand for release liners is expected to increase during the forecast period.

For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), in 2022, automobile production in the country amounted to 2,70,20,615 units, which showed an increase of 3% compared to 2021. Therefore, the release liners market in the country is likely to expand as a result of the rise in overall automobile manufacturing.

The release liners market is estimated to be at USD 15.12 billion by the end of this year and is projected to reach USD 20.64 billion in the next five years, registering a CAGR of over 6.41% during the forecast period.

The COVID-19 pandemic had a negative impact on the release liners sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business has been recovering since 2021 and is expected to rise significantly in the coming years.

Over the short term, increasing demand for clean labels from the food and beverage industry and rising demand for premium hygiene products, and adoption of film-based liners in the medical sector are some of the factors driving the growth of the market studied.

On the flip side, issues related to the disposal of release liner waste are expected to hinder the market’s growth.

However, expanding the packaging sector in emerging economies is anticipated to provide numerous opportunities over the forecast period.

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