Laminating Adhesives Market

Laminating Adhesives Market Size (2023-2028):

Laminating Adhesives Market is determined to progress from USD 4.6 billion in 2022 to USD 6.6 billion by 2028, recording a compound annual growth rate of about 13.2% over the conjecture period from 2023-2028

Laminating adhesives offer extremely good chemical and heat resistance, extremely good machine performance, good transparency, extremely good wettability, larger initial and final bond strength, high slip, and compatibility suitable for the widest range of machine speeds. These adhesives are extensively employed in the packaging of snacks, confectionery, agricultural chemicals, meat, cheese, medical products, etc.

Laminating Adhesives are useful for joining and assembling different material surfaces. Both dry lamination and wet lamination techniques are mostly used in laminating adhesives. The laminating adhesive market has applications for many industrial and domestic uses.

Drivers & Restraints of Laminating Adhesives Market:

There is an extremely large demand for flexible packaging in the Asia Pacific region due to the rising disposable income, changing lifestyle, and growing middle-class population.  As per the National Bureau of Statistics of China, consumer goods and retail sales have estimated a growth rate of 11.1% by 2025.

The chemical industry is facing challenges from regulatory authorities like the Control of Substances Hazardous to HeaGroups, the European Union, Registration, Evaluation, Authorisation, and Restriction of Chemicals, the Globally Harmonized System, and the Environmental Protection Agency in Europe and North America. Makers in Europe and North America should follow the regulations related to the production and usage of laminating adhesives in various applications because of the VOC emissions. This has influenced the production of the companies that are important in manufacturing laminating adhesives market through solvent-based technology. In order to accord with these regulations, manufacturers need to shift from solvent-based to water-based technology. This is a serious challenge for the market players. Afterward, water-based technology has disadvantages like higher production costs and higher drying time.

The film laminated structure with significant advances has been found in flexible packaging. It allows the properties of various structures to avail of unique packaging protection. Lamination can be accomplished using adhesives, heat-sealable coatings, and extrusion lamination. With water as an important component, not similar to solvent-based adhesives, which discharge moisture into the atmosphere during drying, reducing VOC emissions. The major advantage of choosing water-based adhesives is that they can be useful in a range of substrates including natural or by synthetic textiles, plastics, metallic films and etc., which are major advantages.

Challenges in the Laminating Adhesives Market

Some of the challenges faced by the laminating adhesives market are health issues posed by the formation of Primary Aromatic Amines that are formed if the adhesives are not fully cured before the laminate is filled with food residual isocyanate monomers in the adhesive react with the moisture that is found in foods and form Primary Aromatic Amines.

Primary Aromatic Amines stand out among the non-intentionally added substances found in flexible packaging since Primary Aromatic Amines have been identified as carcinogens. Because of this specific hazard, special attention must be paid to ensure that they do not move into food.  

Covid-19 effect on Laminating Adhesives Market

Revenue for Laminating Adhesives Market has grown significantly over the 5 years as a result of stronger macroeconomic conditions and healthier demand, therefore with the current scenario of economic slowdown with COVID-19 industry players had a huge negative on operations. Laminating Adhesives Market estimates affect a large area on both volume and value and because of the slowdown price fluctuation becomes wider demand and supply gap.

LAMINATING ADHESIVES MARKET REPORT COVERAGE

Laminating Adhesives Market Segmentation as per the research report until 2028.

Laminating Adhesives Market - By Technology:

• Solvent-based
• Solventless
• Water-based
• Others (EB, UV, hot-growth)

By technology, the solvent-based segment is expected during the forecast period to carry the largest share of the laminating adhesives market. These adhesives have extensive applications in end-use sectors like packaging.

Laminating Adhesives Market - By End-Use:

• Packaging

• Industrial

• Automotive & Transportation

The automotive & transportation end-use segment is predicted to register the highest compound annual growth rate in this market in the coming years. Laminating adhesives are better than others as a replacement for nuts & bolts and based on or in accordance with techniques owing to the lesser energy spent in the production of these adhesives.

Laminating Adhesives Market - By Resin:

• Polyurethane

• Acrylic

• Others

It is particularly designed to attach or fix 2 different surfaces together. The different chemical compositions of laminating adhesives are polyurethanes (C27H36N2O10), polyvinyl acetate((C4H6O2) n), epoxy(C21H25ClO5), styrene block, and ethylene-vinyl acetate(C6H10O2) as these applications reduce weight, vibration-dampening joint and leakage control of fluids or gases.

Laminating Adhesives Market - By Region:

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle east and Africa 

APAC laminating adhesives market is estimated to register the highest compound annual growth rate in the estimated period.

The Asia Pacific market is segmented into China, Japan, India, Indonesia, and Rest of Asia Pacific. The Asian Pacific is a lucrative business for these adhesives due to the increasing call from packaging industries and increasing economic conditions. Product innovations, new R&D projects, and increasing demand from various different end-use industries have also fuelled the need for laminating adhesives in the Asia Pacific region.

Key Players in the Laminating Adhesives Market

1. Toyo-Morton Ltd.

2. Dow Chemical Company

3. 3M Company

4. COIM Group

5. Ashland, Inc.

6. Bostik, H.B. Fuller

7. Comens New Materials

8. Henkel

9. Vimasco Corporation

10. Flint Group

11. Coim, L.D. Davis

12. Bostik