According to a market research report, the “Laminating Adhesives Market by Resin Type (Polyurethane, Acrylic, Others), Technology (Solvent-based, Water-Based, Solvent-less), End-Use Industry (Packaging (Food & Beverages, Pharmaceuticals, Consumer Products), Industrial, and Region (2023-2028)”, exhibits high growth potential and is projected to reach a market size of USD 5.1 billion by 2028 from USD 3.6 billion in 2022, at a CAGR of 5.8%. APAC is the largest laminating adhesives market that is projected to register the second-highest CAGR. This high growth is due to the growing demand from the packaging, industrial, and automotive & transportation industries. There is rising awareness about the use of eco-friendly adhesives in this region.
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387 Market data Tables
56 Figures
327 Pages and in-depth TOC on “Laminating Adhesives Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The key players in global laminating adhesives market include Henkel AG (Germany), 3M (US), H.B. Fuller (US), The Dow Chemical Company (US), Arkema S.A. (France), Sika AG (Switzerland), DIC Corporation (Japan), Pidilite Industries (India), DuPont (US), Flint Group (Luxembourg) AND OTHERS.
COIM Group (Italy), Vimasco Corporation (US), Franklin International (US), Master Bond Inc. (US), Fujifilm Corporation (Tokyo) are some of the startups in the global laminating adhesives market.
Recent Developments in Laminating Adhesives Market
In November 2022, Henkel AG went into a strategic partnership cyclos-HTP Institute (CHI), a specialized company in classification, assessment, and certification of recyclability of packaging and goods. This will include access to in-house testing and certification, joint material science R&D.
In Septembber 2022, Henkel acquires advanced materials start-up NBD Nanotechnologies Inc., US-based advanced materials company. This acquisition Henkel aims to strengthen the position of its Adhesive Technologies business unit in the area of functional coatings.
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The chemical industry is facing a challenge in terms of adhering to policies and standards implemented by various regulatory authorities such as the Control of Substances Hazardous to Health (COSHH), the European Union (EU), the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH), the Globally Harmonized System (GHS), and the Environmental Protection Agency (EPA) in Europe and North America. The manufacturers in Europe and North America are following these regulations regarding the production and use of laminating adhesives for various applications to reduce the emission of VOCs.
The solvent-based technology segment accounted for more than half of the overall market size, in terms of volume, in 2022. Solvent-less is the fastest-growing technology segment of the laminating adhesives market due to the growing demand from the packaging industry for stand-up pouches, coffee bags & pouches, snack food packaging, frozen food packaging, confectionary packaging, and condiment packaging applications. Owing to the increasing environmental concerns and tightening VOC regulations, laminating adhesive manufacturers are shifting toward the production of water-based technology. This has fuelled the water-based laminating adhesives market. In the recent past, the solvent-based technology segment has lost a significant market share to solvent-less and water-based technologies.
The growth of the automotive industry is dependent on the demand from emerging countries of Asia Pacific. These countries are expected to be the key contributors to the demand for laminating adhesives in this industry. The developing Asia Pacific countries, such as China, South Korea, Thailand, and India, are driving automotive production due to the continuous manufacturing of small cars. Laminating adhesives are used in body panels, fenders, GOR (grille opening reinforcement), heat shields, headlamp reflectors, and pickup box in the automotive & transportation industry.
Asia Pacific is the biggest market and is expected to remain the same in the near future. The continuous rise in the manufacturing of various products for use within the region and for exports drives the demand for laminating adhesives. The rising population and growing end-use industries have led to innovation and developments, making it a major laminating adhesives market.
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