Global Laminating Adhesives Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast
- PUBLISHED ON
- 5/23/2023
- NO OF PAGES
- 256
- CATEGORY
- Chemicals & Materials
The global Laminating Adhesives market size was valued at USD 3,350 million in 2022 and is projected to reach USD 5,860 million by 2033, growing at a CAGR of 6.0% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 3,350 million |
Market Forecast in 2033 | USD 5,860 million |
CAGR % 2023-2033 | 6.0% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Henkel AG & Co; BASF SE; The Dow Chemical Company; Ashland Global Specialty Chemicals Inc.; Bostik; HB Fuller; ACTEGA; Beijing Comens New Materials; Sun Chemical; IVP Limited; COIM Group; Morchem; NANPAO; Megabond |
Global Laminating Adhesives Market- Description
The laminating adhesives market refers to the industry that deals with the production, distribution, and application of adhesives specifically designed for laminating processes. Laminating adhesives are used to bond together two or more substrates, typically in the form of flexible films or sheets, to create a composite structure with improved properties such as strength, durability, barrier properties, and appearance. Laminating adhesives are widely employed in various industries, including packaging, automotive, construction, electronics, and healthcare. They are used in applications such as flexible packaging laminates, graphic arts, automotive interiors, medical devices, electrical insulation, and industrial tapes. The primary function of laminating adhesives is to provide a strong and durable bond between different substrates. These adhesives must exhibit excellent adhesion to a wide range of materials, including plastics, metals, papers, fabrics, and foams. They should also possess good heat resistance, chemical resistance, and flexibility to withstand the demanding conditions encountered during the laminating process and the subsequent use of the laminated product. The laminating adhesives market is influenced by factors such as economic growth, consumer demand for innovative packaging solutions, technological advancements, and regulatory requirements regarding product safety and environmental sustainability. Manufacturers in this market continuously strive to develop new adhesive formulations that provide enhanced performance, process efficiency, and sustainability credentials.
Global Laminating Adhesives market: Key Trends
• Growing demand for flexible packaging materials
Flexible packaging has gained significant popularity in various industries such as food and beverage, pharmaceuticals, personal care, and others. Laminating adhesives play a crucial role in the production of flexible packaging materials, as they are used to bond different layers of films, foils, or papers together to create a composite structure. There are several reasons behind the increasing demand for flexible packaging. Firstly, flexible packaging offers advantages such as lightweight, durability, and convenience. It is easier to handle, transport, and store compared to traditional rigid packaging options. Additionally, flexible packaging provides superior barrier properties, such as moisture resistance, oxygen barrier, and UV protection, which helps in preserving the quality and extending the shelf life of various products. Another factor contributing to the demand for flexible packaging is the changing consumer preferences and lifestyles. Consumers are increasingly seeking products that are easy to use, portable, and require minimal storage space. Flexible packaging fulfills these requirements and provides manufacturers with opportunities to introduce innovative packaging designs and formats to attract consumers.
Moreover, flexible packaging is considered more sustainable compared to rigid packaging options. It requires fewer resources during manufacturing and generates less waste. Additionally, flexible packaging materials can be recycled and reused, contributing to the overall sustainability goals of companies and reducing environmental impact. As the demand for flexible packaging continues to rise, the laminating adhesives market experiences significant growth. Manufacturers of laminating adhesives are investing in research and development to introduce new products with improved performance characteristics, such as enhanced bond strength, heat resistance, and compatibility with various substrates. This allows packaging manufacturers to produce high-quality flexible packaging materials that meet the specific requirements of different industries.
Global Laminating Adhesives market: Segmental Analysis
Resin Type:
• Polyurethane Laminating Adhesives
• Solvent-based Laminating Adhesives
• Water-based Laminating Adhesives
• Reactive Laminating Adhesives
• Others
Substrate Type:
• Paper
• Plastic
• Metal
• Glass
• Composite materials
• Others
End-Use Industry:
• Automotive
• Construction
• Electronics
• Others.
Global Laminating Adhesives market: Geographical landscape
North America, comprising the United States and Canada, is a significant market for laminating adhesives. The region has a well-established packaging industry and a strong demand for laminated materials in various sectors, such as food and beverages, healthcare, and electronics.
Europe is another prominent market for laminating adhesives. Countries like Germany, the United Kingdom, France, Italy, and Spain are major contributors to the market. The region's packaging industry, along with the increasing demand for flexible packaging solutions and sustainable materials, drives the growth of the laminating adhesives market.
The Asia Pacific region is witnessing rapid growth in the laminating adhesives market. Countries such as China, India, Japan, South Korea, and ASEAN nations are key players in this region. The expanding middle-class population, rising disposable incomes, and growing consumer goods industries are driving the demand for laminated packaging materials in this region.
Latin America, including countries like Brazil, Mexico, Argentina, and Colombia, is also a significant market for laminating adhesives. The region's growing food and beverage industry, coupled with increasing consumer awareness about packaging quality and safety, is contributing to the market's growth.
The Middle East and Africa region show potential for the growth of the laminating adhesives market. The demand for flexible packaging solutions is increasing, driven by the expanding retail sector and rising consumer preferences for convenience products. Countries such as the United Arab Emirates, Saudi Arabia, South Africa, and Nigeria are expected to contribute to market growth.
Global Laminating Adhesives Market- Recent Developments
• In 2022, Toyo-Morton, a laminating adhesives manufacturer headquartered in Japan, has introduced a fresh range of laminating adhesives devoid of epoxy silanes and organic tin compounds. The recently released collection comprises TOMOFLEX, a solvent-based laminating adhesive, and ECOAD, a solvent-free laminating adhesive series.
• In 2022, Dow has confirmed that its MOR-FREE L 75-300/ CR88-300 and ROBOND L-350/ CR-3 adhesives have undergone recycling verification. When assessing the recyclability of plastic packaging, Dow's RecyClass takes into account various essential criteria for establishing a closed-loop value chain. This includes considering the current sorting and recycling infrastructures that are widely utilized in Europe, as stated by the company. Dow emphasizes that its partners throughout the value chain can utilize the RecyClass verification as a valuable piece of information to guide the design of their packaging for better recyclability.
Global Laminating Adhesives Market: Key Companies
• Henkel AG & Co
• BASF SE
• The Dow Chemical Company
• Ashland Global Specialty Chemicals Inc.
• Bostik
• HB Fuller
• ACTEGA
• Beijing Comens New Materials
• Sun Chemical
• IVP Limited
• COIM Group
• Morchem
• NANPAO
• Megabond
• Others
Global Laminating Adhesives Market: Regional Scope
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
• Company Share Analysis from 2018-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Application/End Use
• Company Share Analysis by Product/Specification.
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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