In a recently updated research report on the global elastic laminate market, FMI has estimated that the industry is set to reach a net worth of USD 5.6 billion in FY 2024. The growth of this industry is driven by the increasing use of elastic laminates by manufacturers of adult incontinence pads, diapers, and feminine care for comfort.
Hereon, the market is anticipated to rise at a 2.7% CAGR over the next decade, with many opportunities arising in developing countries. By 2034, the market is projected to reach USD 7.3 billion.
Elastic Laminate Market Trends and Analysis
| Attributes | Key Insights |
|---|---|
| Elastic Laminate Market Size (2024E) | USD 5.6 billion |
| Market Valuation (2034F) | USD 7.3 billion |
| Value-based CAGR (2024 to 2034) | 2.7% |
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| Leading Material Type | Propylene-based Elastomers |
|---|---|
| Value Share (2024) | 43.70% |
Key players show high preference for propylene-based elastomers as they offer high fabric strength and excellent barrier properties. FMI has estimated that the propylene-based elastomer segment is projected to acquire a 43.70% share in the global market.
Increasing use of propylene-based elastomers in diapers and training pants, adult incontinence products, wipes, and feminine care products is enhancing segment growth.
| Leading Application | Hygiene |
|---|---|
| Value Share (2024) | 81.40% |
The hygiene segment is projected to obtain a predominant share of the global market. Accelerating demand for medical and hygiene products that deliver more security, comfort, and discretion is increasing this segment’s share.
| Countries | Forecast CAGR (2024 to 2034) |
|---|---|
| The United States | 1.40% |
| Germany | 1.0% |
| China | 4.30% |
| India | 5.60% |
| Thailand | 3.90% |
In North America elastic laminate market, the United States owns an influential share due to its prominence in advanced healthcare practices. As the market is reaching maturity in the region, FMI has estimated United States is anticipated to expand at a CAGR of 1.4% through 2034.
Key players in the region like Nitto Denko Corporation are offering laminates with strong elastic film and soft nonwoven layers for application in tapes. The company develops elastic laminates in various widths or with a pre-perforation in the machine direction to facilitate optimal runability on converting lines.
Increasing pervasiveness of urinary incontinence in the adult population in the United States is raising the demand for adult incontinence diapers. This, along with the growing demand for baby diapers, is projected to continue expanding the regional market in the coming years. This is because elastic laminates find applications in the tapes used in adult incontinence and baby diapers.
Germany is a key market for elastic laminates in Europe. The country is set to register a CAGR of 1% over the next decade. Like the United States, Germany too is heading for saturation in the global marketplace. However, the existence of established players is Germany is no bar for emerging players.
In May 2022, for instance, Pedilay Care GmbH declared the startup of an elastic nonwoven laminate conversion in Germany. The entrant, with its incorporation, answers the material needs of commercial and research and development customers in the hygiene, medical, and wellness industries.
The company, with the help of its stakeholders, has significantly invested in the production facility. The conversion rate offered by the firm, right in the heart of Europe, is expected to be a valued asset to the industry.
The elastic laminate industry in India is expected to head the future of elastic laminate. FMI analysts have estimated that the elastic laminate market is projected to account for 5.6% over the next 10 years.
The excellent stretch qualities of elastic laminates make them useful in the production of adult incontinence products, diapers, and feminine care products, as they enhance the comfort level of these products. The growing market for hygiene and wellness products, thanks to massive population, is attracting investors and stakeholders to India.
Nitto Denko Corporation, a global enterprise and leader in elastic laminate and film technology, also has its footprint in India. The company offers an extensive range of comfortable and soft features that are ideal for baby care products. The entity assists customers in producing and designing diapers with outstanding and lasting comfort.
The elastic laminate industry in China is anticipated to expand at a CAGR of 4.3% over the forecast period. Massive demand for this product is coming from hygiene products manufacturers. Their use is crucial for enhancing the fit and performance of adult incontinence products, disposable diapers, and feminine hygiene items.
These laminates are also being extensively used in medical applications, like surgical drapes, wound dressings, and patient gowns. The rapidly expanding healthcare market is thus giving a strong base to the market demand for the core product.
In upcoming years, the market is expected to experience growth on the back of new performance-enhancing materials.
The elastic laminate industry in Thailand is expected to increase at a 3.9% CAGR over the forecast period. Due to surging demand, key players in the market are offering safe, sustainable, and comfortable solutions for feminine hygiene products, baby diapers, and discreet and dependable solutions for adult incontinence.
Players are further acquiring small associated competent companies to offer innovative products for adult incontinence, baby diapers, medical and femcare applications. By partnering with local distributors, industry participants are increasing their penetration in Thailand.
Key players are increasing their production capacity to meet the increasing demand among end users. Apart from this, they are shifting some of their focus from well-to-do countries to developing countries, by expanding their operations and enhancing the cost-effectiveness of the product. This is going to increase accessibility and affordability for products like diapers, adult incontinence pads, etc.
Industry participants are investing in research and development activities to develop surgical masks that offer more comfort. Market players are showcasing their product lines at exhibits to meet potential customers, exchange ideas, and discuss the latest trends and developments.
In addition to these strategies, players also have acquisitions and mergers, collaborations, and partnerships as their go-to tactics.
Pantex International S.p.A.
Pantex International S.p.A., based in Italy, is a roll goods manufacturer that delivers premium materials for the hygienic market, supported by three technologically advanced film and nonwoven manufacturing plants. The company has production facilities in Italy and UAE to effectively meet the demands of customers in and out of Italy. The firm is equipped with a research and development team that designs and creates customized premium materials to be used in the femcare, adult, and baby care markets.
Mondi Group plc
Mondi Group plc, headquartered in the United Kingdom, is a packaging and paper MNC. The company offers a breadth of expertise and offers stretchable elastic laminate innovations. Key operations of the company are in North America, Europe, and Africa. In 2015, the company integrated Ascania Nonwoven Germany GmbH into Mondi’s Consumer Packaging Business Unit. This acquisition enhanced Mondi’s position as a preferred choice for hygiene components like elastic laminates for baby diapers and adult incontinence diapers.
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Current projections of the elastic laminate market indicate a valuation of USD 5.6 billion in 2024.
Looking ahead to 2034, the current forecast projects a CAGR of 2.7% for the encasement pipe industry.
FMI predicts the market to reach USD 7.3 billion by the year 2034.
Propylene-based elastomers is predicted to hold a significant market share during the forecast period.
India is predicted to offer opportunities for investors and stakeholders.
Golden Phoenix Fiberwebs, Inc., Pantex International S.p.A., and Neos Italia Srl are powerful players in the elastic laminate industry.
| Estimated Market Value (2023) | USD 1.1 billion |
|---|---|
| Projected Market Value (2033) | USD 2.1 billion |
| Value-based CAGR (2023 to 2033) | 6.3% |
| Market Size 2022 | USD 584.3 Million |
|---|---|
| Market Size 2032 | USD 955.9 Million |
| Value CAGR (2022 to 2032) | 5.0% |
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Elastic Laminate Market
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