The shelf liner market is witnessing increasing growth due to rising demand from hotels, restaurants, and catering industry; residential and commercial sector; corporate offices; laboratories; educational institutions; and several other end-use industries.
Shelf liners are designed to remain on the surface of a drawer or shelf, and help in protecting them from scratches, moisture, and stains. Rapidly rising preference for shelf liners for use in the residential sector is bringing high growth prospects for the expansion of the shelf liner market size during the forecast period.
However, concerns over the COVID-19 pandemic have restricted the short-term growth of the market. In a new study, Fact.MR has estimated that, the global shelf liner market will create an absolute dollar opportunity of US$ 215 Mn over the forecast period of 2020 to 2030.
Shelf Liner Market Insights by End Use
Shelf liners used for residential purposes is one of the most prominent end users, and is expected to account for 32% of the market share by reaching a valuation of US$ 76 Mn by the end of 2020. Utilization of shelf liners in households is expected to increase as they are used to preserve materials such as clothing, statues, toys, utensils, and equipment.
Shelf liners are used in chemical, pharmaceutical, and biological laboratories due to the long-term impact of chemicals and residue of biological samples that are left on shelves. In chemical laboratories, shelf liners are used to protect the underlying material from corrosion, while in pharmaceuticals and biological laboratories, they are used to provide a protective layer that can be replaced multiple times and protect the sample from residue on the shelf.As such, the laboratories segment will account for rising demand in the shelf liner market during the forecast period.
Regional Outlook of Shelf Liner Market
North America is expected to dominate the global shelf liner market share, followed by Europe, in 2020, and is foreseen to maintain its dominance in terms of value as well as volume over the forecast period. The shelf liner market will garner magnifying growth across North America due to easy availability of shelf liners on online stores. The region is estimated to exhibit a CAGR of nearly 7% during the forecast period.
The economic framework in developing countries is dynamic as compared to stagnant growth in matured economies such as North America and Europe. Developing countries such as India and China are growing at a faster pace, due to rising household income in these economies, which increases the inculcation of shelf liners in the budget basket of the region’s population. An upsurge in spending on cleanliness accessories is expected to propel demand for shelf liners over the forecast period.