New York, United States, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The Global Lamination Adhesives Market Size to Grow from USD 3.1 Billion in 2022 to USD 5.7 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period.
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The Laminating Adhesives Market is being driven by the expanding packaging sector, rising need for flexible packaging, and technical advancements. The drive towards environmentally friendly and long-lasting adhesives also has an impact. Adhesives that not only hold things together but also help to lessen environmental impact are being developed by companies. The lamination adhesives industry consists of the production and sale of adhesives designed specifically for laminating or glueing different materials together. This technology is commonly used in industries where the capacity to combine layers of materials is vital, such as packaging, automobiles, and electronics. Lamination adhesives play an important role in ensuring strong and long-lasting adhesion across various substrates such as plastics, metals, and foils.
Lamination Adhesives Market Value Chain Analysis
Adhesive manufacturers convert these raw components into laminating adhesives. This stage comprises comprehensive testing to ensure that the glue meets both quality and application criteria. After being manufactured, the adhesives are packaged and distributed to various end-users. This step involves logistics and transportation to ensure that the products reach their final destinations. Lamination adhesives are utilised in a variety of industries, including packaging, automotive, and electronics. Lamination adhesives are used by end users to glue or laminate diverse materials together. Layers of plastic, metal, or other substrates could be laminated. Finally, final commodities are produced by end users. For example, in the packaging industry, the final output could be a flexible, multi-layered packing material.
Lamination Adhesives Market Opportunity Analysis
Opportunities may arise from the development of new and advanced laminating adhesive technologies. Innovations that increase bonding strength, shorten curing time, or provide environmentally friendly alternatives can provide a competitive advantage. Determine which industries are seeing increased demand for lamination adhesives. For example, the packaging industry is expanding rapidly as a result of e-commerce, which is increasing demand for flexible and long-lasting packaging materials. Environmentally friendly adhesives are gaining popularity. Creating low-impact laminating adhesives or those made from renewable resources has the potential to be a lucrative commercial opportunity. Consider opportunities for global market expansion. Emerging economies with expanding manufacturing sectors may provide undiscovered potential for laminating adhesives.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Lamination Adhesives Market Size By Technology (Solvent-Borne, Water-Borne, Solvent-Less, Other Types), By End-use (Packaging, Industrial), By Region, And Segment Forecasts, By Geographic Scope And Forecasts to 2032."
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Insights by Technology
Water based segment accounted for the largest market share over the forecast period 2023 to 2032. Water-based adhesives often have lower VOC levels than solvent-based adhesives. This boosts their compliance with air quality regulations, which promotes to their growth, especially in regions with stringent environmental regulations. Water-based adhesives are frequently regarded as safer for workers due to their lower toxicity. This is especially crucial in businesses that prioritise worker safety. Because of their lower environmental impact, water-based adhesives are increasingly preferred by end users, particularly in industries such as packaging. This decision is a significant driver of growth in the technology industry. The packaging industry, a key consumer of lamination adhesives, is rapidly expanding. Water-based adhesives, with their versatility and sustainability, are well-positioned to fulfil the expanding need in this area.
Insights by End Use
Packaging segment accounted for the largest market share over the forecast period 2023 to 2032. Flexible packaging materials are in high demand as a result of the global trend towards more convenient and lightweight packaging. Lamination adhesives are necessary for attaching many layers of materials together while providing strength, flexibility, and protection. The rise of e-commerce has boosted demand for durable and secure packaging. Flexible packaging, which typically uses lamination adhesives, is praised for its ability to protect products while also allowing for design freedom. In the food and beverage industries, lamination adhesives are commonly used. The increased usage of laminated packaging materials has stemmed from the desire for attractive and functional packaging, as well as the need for longer shelf life. Pharmaceutical sector expansion, spurred by factors such as an ageing population.
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Insights by Region
North America is anticipated to dominate the Lamination Adhesives Market from 2023 to 2032. The packaging sector in North America is growing, owing to the e-commerce, food and beverage, and pharmaceutical industries. Lamination adhesives are increasingly being used in flexible packaging materials. The region is a hub for technological innovation. Continuous advancements in lamination adhesive technologies, such as the development of high-performance and ecologically friendly adhesives, offer opportunities for expansion. The rising awareness and focus on sustainability in packaging materials is driving demand for eco-friendly laminating adhesives. In North America, green alternative providers may find a growing market.
Asia Pacific is witnessing the fastest market growth between 2023 to 2032. The Asia-Pacific area is rapidly industrialising, especially in China and India. This growth fuels demand for packaging materials, which include lamination adhesives. A growing packaging industry is aided by rising middle-class populations, urbanisation, and e-commerce trends. Flexible packaging, in particular, is in high demand, providing opportunities for lamination adhesive makers. The vehicle industry in Asia-Pacific is expanding. Lamination adhesives are utilised in vehicle interiors, exteriors, and electronics, providing opportunities for adhesive makers to flourish. As disposable wealth in many Asia-Pacific countries rises, so does demand for consumer items, electronics, and automobiles, all of which commonly need the usage of lamination adhesives.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
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Recent Market Developments
- In August 2022, Toyo-Morton, Ltd., Japan's top manufacturer of laminating adhesives, has developed a new ECOAD series of polyurethane solvent-free laminating adhesive solutions for the food packaging and industrial industries, particularly in Asia.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Lamination Adhesives Market, Technology Analysis
- Solvent-Borne
- Water-Borne
- Solvent-Less
- Other Types
Lamination Adhesives Market, End Use Analysis
- Packaging
- Industrial
Lamination Adhesives Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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