Food Packaging Segment to generate 49.8% of the global Market Revenue in 2024, according to Fact.MR
Food Packaging Segment to generate 49.8% of the global Market Revenue in 2024, according to Fact.MR
The lamination adhesive market is expected to grow at a 6.0% CAGR between 2024 and 2034, according to Fact.MR. By 2034, the global market for these products is expected to reach US$ 6,524.4 million. According to Fact MR, a provider of market research and competitive intelligence, the globalLamination Adhesive Market is rapidly growing and is expected to continue its growth trajectory in the coming years.
Growing awareness of environmental issues has led to an increased focus on recyclable packaging materials. Lamination adhesives that support recyclability and the circular economy are gaining traction. The rise of e-commerce has spurred demand for durable and secure packaging. Lamination adhesives play a crucial role in providing strength and protection to packaging materials used in the e-commerce supply chain.
Manufacturers are focusing on providing customizable lamination adhesive solutions to meet specific customer needs. Product differentiation through unique formulations and applications is becoming a competitive advantage. The use of high-performance films, which often require advanced lamination adhesives, is increasing. The films are chosen for their barrier properties, strength, and enhanced aesthetics.
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Leading Players Driving Innovation in the Lamination Adhesive Market:
The Key Players in the Infant Lamination Adhesive Industry include 3M Company; Ashland Global Specialty Chemicals Inc; Bostik SA; Coim Group; Dow Inc; DuPont de Nemours Inc; Evonik Industries AG; Meridian Chem-Bond; H.B. Fuller Company; Vimasco Corporation
Lamination Adhesive Market News & Trends:
To achieve their goals, major companies in the laminating adhesive market are using a variety of tactics. These strategies include driving innovation, enforcing strict quality control procedures throughout their product lines, developing strategic alliances, streamlining supply chain management systems, and consistently improving their technology and goods.
Current Events:
H.B. Fuller revealed in 2023 that it has invested in Beardow Adam, a UK-based company renowned for its family-run business model and commitment to creative and environmentally friendly adhesive solutions. By expanding its clientele and integrating new technologies to satisfy changing market demands, the strategic acquisition put H.B. Fuller in a position to fortify its market portfolio.
In 2022, Toyo-Morton, Ltd., a Japanese firm, unveiled the ECOAD series, a new range of solvent-free polyurethane laminating adhesive systems designed for the industrial and food packaging industries, primarily targeting the Asian market.
The rise of digital printing technologies in packaging has implications for lamination adhesives. The adhesives need to be compatible with various printing methods while ensuring the quality and integrity of the final product. Companies are investing in R&D to develop adhesive solutions with enhanced performance, reduced environmental impact, and compliance with evolving regulations.
Stand-up pouches, which often utilize lamination adhesives, have gained popularity due to their convenience and visual appeal. The trend is particularly notable in the food and beverage industry. The development of bio-based lamination adhesives, derived from renewable sources, is a response to the growing demand for environmentally friendly solutions. Continued monitoring of industry reports, market analyses, and updates will provide the most current insights into the factors, trends, and opportunities in the dynamic Lamination Adhesive Market.
Key Takeaways from the Market Study:
In 2024, the global lamination adhesive market is estimated to have a global market size of US$ 3,643.2 million. The food packaging is expected to dominate the market, with a market share of 51.2% in 2034.
The medical packaging category is expected to hold a market share of 30.7% in 2024. China is predicted to acquire a 56.9% of the global market share in 2024.
East Asia is expected to account for a CAGR of 6.5% by 2034.
“The integration of smart and intelligent features in packaging, such as RFID tags and sensors, creates opportunities for innovative lamination adhesive applications to ensure the durability and functionality of these features,”says Fact.MR analyst.
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Competitive Landscape:
The lamination adhesive market is shaped by pricing, distribution channels, customer service, and regulatory compliance to gain a competitive edge. Adapting to market dynamics and staying abreast of technological advancements are essential for sustained success in this dynamic industry.
Recent Development:
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global lamination adhesive market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024 to 2034.
The study reveals essential insights based on lamination adhesive market analysis by end use (food packaging, medical packaging, industrial packaging, others), and by region (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).
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Lamination adhesive is a type of adhesive used to bond layers of materials together, often used in packaging to enhance durability and protection.
E-commerce packaging refers to the materials and methods used to package products for online sales, ensuring they arrive safely to consumers.
Recyclable packaging is packaging that can be processed and reused after its initial use, reducing waste and environmental impact.
CAGR stands for Compound Annual Growth Rate, which measures the mean annual growth rate of an investment over a specified time period.
Customizable solutions in manufacturing refer to products or services that can be tailored to meet specific customer needs or preferences.
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