Growing demand for flexible packaging is expected to drive the Laminating Adhesives market in the forecast period 2024-2028. According to the TechSci Research report, “Laminating Adhesives Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global Laminating Adhesives Market is expected to grow at an impressive rate during the forecast period, 2024-2028.
The Important Factors of Laminating Adhesives Market
A significant factor fueling the growth of the laminating adhesives market is the increase in the use of laminates for furniture and wall decorating due to increased developmental projects. The use of laminate is expected to expand in the upcoming years owing to rising environmental consciousness, increased demand for sustainable agriculture, and protective lamination for interior walls and floors, which is expected to further fuel the expansion of the laminating adhesive market.
According to an article by the Global Construction Review (GCR), construction production worldwide is predicted to increase by 35% from 2010 to 2030, reaching USD 15.2 trillion by 2030, or 13.5% of the global GDP. The need for the expansion of laminate adhesives is expected to be fueled by the expanding construction industry throughout the world, which is expected to be followed by a strong uptick in interior design, with laminates for the floors, walls, and wood.
Furthermore, the market is being further driven by the extensive use of laminating adhesives in pharmaceuticals, food & beverage industry, and automobile. However, the high capital cost and energy consumption can slow down the market growth. Moreover, growing concerns regarding disposal can further slow down the market growth.
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Global Laminating Adhesives Market is segmented based on resin type, technology, application, and region.
Based on resin type, the market is further divided into polyurethane, acrylic, and others. Polyurethane is expected to hold the largest market share during the forecast period, 2024-2028. Polyurethane laminating adhesives are utilized in various applications owing to their high toughness, abrasion resistance, flexibility (especially at low temperatures), and good adhesion quality.
Based on technology, the market is segmented into solvent-based, water-based, and others. The water-based segment is expected to grow at the highest rate during the forecast period. This can be attributed to several advantages such as green strength, excellent food safety, and reduction in operational time.
Based on application, the market is further split into packaging, pharmaceuticals, automotive, industrial, construction, and others. The pharmaceutical segment is expected to have the highest market share during the forecast period. This can be attributed to the demand for tablets, pouches, and medical devices, which is expected to assist the market growth over the long term.
Major companies operating in the global laminating adhesives market are:
- 3M Co.
- Henkel AG & Co KGaA
- HB Fuller Co.
- Bostik SA
- Morchem SA
- Ashland Inc.
- Sun Chemical Corp.
- Flint Group GmbH
- Coim USA Inc.
- Vimasco Corp.
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“Asia Pacific region is expected to grow at the highest rate during the forecast period. Long-term demand for lamination adhesives is expected to be attracted by consumer goods, healthcare, and automotive industries and will likely see increased production capacity as a result of investments in new manufacturing facilities, which would likely accelerate market growth. Additionally, in Europe, increasing health awareness and high consumer spending on food and beverage are the key factors contributing to the market’s long-term growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Laminating Adhesives Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Resin Type (Polyurethane, Acrylic, Others), By Technology (Solvent Based, Water Based, Others), By Application (Packaging, Automotive, Industrial, Construction, Others), By Region and Competition, has evaluated the future growth potential of global laminating adhesives market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global laminating adhesives market.”
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