Transparency Market Research delivers key insights for the heat seal coating market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2021–2029. In terms of growth, the global heat seal coating market is projected to witness a rapid growth rate by the end of 2029, owing to the increasing scope of usage in food, pharmaceutical, and personal care & cosmetic industries about which TMR offers detailed insights and forecasts in the heat seal coating market report.
Heat seal coating is thermoplastic coating that are utilized to seal substrates. It could be used on a variety of materials, including paper, films, foil, and non-woven. Heat seal coating not only act as adhesives for the packaging but also provide barrier properties to the product. It is widely used in food, pharmaceutical, and personal care industries. Heat seal coating also provides properties such as tack properties, scratch resistance, flexibility, durability of the coating, and high peel strength.
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Heat Seal Coating Usage in Flexible Packaging Industry Fueling Market Growth
Flexible packaging has been observing the fastest growth in recent years. Manufacturers are following source reduction, which could also be termed as decline in wastage even before it is produced. Less packaging material could result in less wastage and result in cost depletion. Hence, manufacturers are leaning toward minimal flexible packaging solutions, which could help them attract customers.
Blister packaging in pharmaceutical applications, lidding films for food containers and trays, soap wrapping, among many other utilize flexible packaging that widely use heat seal coating. Flexible plastic packaging growth was observed to be above average in emerging markets in the Asia Pacific. Changing family dynamics and increasing demand for instant food are a few factors that are re-shaping the demand for flexible packaging around the world.
Toxin-free, Sustainable Heat Seal Coating Solutions to Capture High Percentage of Global Market
Consumer buying behavior is observing a shift due to an inclination toward eco-friendly and sustainable packaging solutions. High-performance heat seal coatings that have factors such as instant drying capabilities, extreme weather resistance, and used on bio-based substrates are eyeing high growth opportunities in the market.
Manufacturers are also offering PVC and BPA-free coatings for food packaging, which are increasing the adoption of the coating. Bostik Adhesives is offering low viscosity heat seal coating solutions that are suitable for usage on paper-based food packaging. No residual solvents and highly suitable coatings are used for highly perishable and sensitive food items and drugs. Water-based heat seal coating solutions that are free from toxins and contain zero solvents are highly preferred by food and pharmaceutical manufacturers to keep their products safe and free from contamination.
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Decline in VOC Emission Major Concern for Heat Seal Coating Manufacturers
Volatile organic compounds (VOCs) are organic chemicals that are emitted as gases. Data published by the United States Environmental Protection Agency (EPA) states that industrial and other processes contributed 74% to the total VOC emissions in the United States in 2017. Numerous scientific researches have confirmed short and long-term health issues in humans can be caused by VOC emission.
Low VOC emission coatings are preferred by manufacturers, and this is one of the reasons why solvent-based coatings are not favored and the market for the same is projected to decline in the future. These coatings also provide lower weight coatings and suitable to run on high-speed machinery.
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Heat Seal Coating Market: Competition Landscape
The TMR Group includes global players such as Michelman, Inc., Cattie Adhesives, Arkema S.A., Toyochem Co Ltd., H.B. Fuller Company, Paramelt B.V., Yasuhara Chemical Co., Ltd., Henkel AG & Co. KgaA, Emax Label Solutions, The Dow Chemical Company, Taihei Chemicals Limited, Trillium Products Ltd., Mitsui Chemicals, Inc., Uflex Limited, and Wacker Chemie AG in the detailed report.
The TMR distinguished these heat seal coating market players as per their segmental earnings into different tier slabs. These key players are estimated to hold nearly 40–50% share of the global market. Tier 1 players in the category hold revenue of more than US$ 400 Mn, while Tier 2 players hold revenue between US$ 100 to 400 Mn. Tier 3 players hold a share below US$ 100 Mn.
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