GAG Deco Sheet Market: By Type (Food Grade, Industrial Grade, and Others), By Application (Food Packaging, Non-Food Packaging, Signboard/Display, and Others), and Geography  

GAG Deco Sheet Market size was valued at USD 523.8 million in 2022 and is poised to grow at a significant CAGR of 5.4% from 2023-2029. GAG is a composite sheet with three layers. It is a three-layer composite sheet made by co-extrusion of APET in the center layer and PETG raw materials in the upper and lower layers in the right ratio. The GAG Deco Sheet Market is predicted to grow at a healthy rate throughout the forecast period due to technological advancements and application-specific breakthroughs. Market participants in the GAG Deco Sheet Market are changing their operating models to the new normal by focusing on the digitalization of processes and embracing upcoming robotic automation and artificial intelligence technologies. Over the projection period, the top players in the GAG Deco Sheet Market will continue to use acquisitions and mergers to obtain new innovations, improve portfolios, and leverage capabilities.

Despite the high price, the excess supply of chemicals and resources needed to combat the pandemic COVID 19 resulted in a shortage of raw materials for other products, disrupting the GAG Deco Sheet Market's supply chain. When it comes to interpreting these unanticipated demand patterns, enterprises that are expanding rapidly in capacity to meet COVID-induced demand must be cautious. Businesses could implement digitally linked processes and focus on operational efficiency, diversifying supplier sources, and cost management to produce opportunities in the GAG Deco Sheet Market over the forecast period. Additionally, the longer durability, chemical stability, and starch-resistant properties of these GAG deco sheets are streaming the growth of the global GAG deco sheets market. It can also be used in laboratories as furniture due to its UV ray's protective properties. Technological innovation and advancement will further optimize the performance of the product, making it more widely used in downstream applications.

GAG Deco Sheet Market Key Developments:

• In September 2021, Toray Plastics Inc., announces that its Torayfan® Division's new, state-of-the-art, 8.7-meter, five-layer, in-line coating polypropylene film line with automated slitting began producing commercial volumes of packaging and label films in May. The customized, proprietary equipment is considered by Toray to be one of the most capable BOPP film lines in the world. It is enabling Toray to expand its flexible packaging product lines, including a robust label portfolio, and manufacture highly-engineered next-generation laminations and mono-material films.
• In November 2019,LG Hausys successfully concludes BENIF installation training program in Seoul