The global laminating adhesives market is forecast to reach USD 4.06 Billion by 2026, according to a new report by Reports and Data. Laminating adhesives are specialty chemicals which provide strong adhesion between two metallic surfaces or films. This strong bond exhibits properties of excellent heat and chemical resistance. They are propagated in various mediums or technologies like water-based, solvent-based, and solvent less, among others. Developing industries like healthcare and food and beverage industries require consumer durables which will, in turn, promote the growth of lamination adhesives.
The market for laminating adhesives is influenced by the rising demand from the packaging industry. The procedure for lamination is carried out by applying pressure or heat, and this imparts aesthetic values as well as protects the product. They remain in function under high machinery speeds like automobiles. Lamination adhesives are used for packaging confectionery, meat, agricultural produce, and medical products. Since they allow printability, permeability, and flexibility, they can be used in the flexible packaging industry.
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These mentioned factors collectively create opportunities for the market growth while factors such as unfavorable effects of laminating adhesives pose limitations in the market. The strict rules and policies invoked by the authority against the utilization of harmful chemicals along with the volatile raw material market prices affect the overall production of laminating adhesives. This subjugation can be overcome with the rise in the number of manufacturers and research in the field for the utilization of less hazardous chemicals in the production process.
The population of Asia Pacific is shifting towards the young population, and the purchasing potential of this young population is also increasing. Most of the developing countries are looking at India and China as the global market. The need for packaged consumables for a long shelf-life and high durability.
3M, Arkema (Bostik), Fujifilm Corporation, H.B. Fuller Company, Henkel AG & Co. KGaA, Dowdupont Inc., DIC Corporation, Dymax Corporation, Flint Group, and Weilburger Holding GmbH, among others.
Further key findings from the report suggest
- The solvent-less technology type is set to witness the highest CAGR of 8.1% through the forecast period. They are widely used in the production of coffee-bags, stand up pouches, confectionery packaging, and frozen food packaging.
- Polyurethane type of resin occupied the largest market share of 46.1% in the year 2018. PU-based laminating adhesives provide exceptional adhesion between textiles, metal, leather, and paper. Their application varies, such as on buses, trucks, rails, and other automotive vehicles.
- Solvent-based technology held the largest market share of 33.6% in the year 2018. It is because of the properties like higher bond strength, lower emission, and lesser cure time. Hence, the solvent-based segment is the backbone of the food packaging industry.
- The automotive and transportation industry is set to experience the highest CAGR of 8.0% during the forecast period. They are used for body panels, fenders, heat shields, among others in automotive products.
- Asia Pacific is forecasted to witness the highest CAGR of 7.7% during the forecast period. Countries like India, China, and Japan are rapidly catching up with the growth in the laminating adhesives market. The increasing demand in the packaging industry and improving economic conditions in driving market growth.
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For the purpose of this report, Reports and Data have segmented the global Laminating Adhesives Market on the basis of technology type, resin type, end-users, and region:
Technology Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Solvent less
Resin Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Automotive and Transportation
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
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