New York, USA, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Laminating Adhesives Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Laminating Adhesives Market Information by Type, Application, Resin, And Region - Forecast till 2027”, the market is estimated to grow at a 6.9% CAGR to reach USD 4.8 Billion by 2027.
Market Synopsis
Laminating adhesives use pressure and heat while shielding the objects to adhere to the substrate. They are widely used in industrial and packaging and in the automobile and electronics industries, where labels for fragile components are needed. The demand for consumer-friendly packaging, convenience foods, and beverages are some of the key reasons driving the growth of the laminating adhesives market. One of the main factors driving the growth of the laminating adhesives market is the potential advantages of the adhesives, such as their low weight, ease of handling, need for less space, longer shelf life, and great resistance to wear and abrasion. The manufacturing sectors are moving toward flexible packaging along with the packaging sector.
By laminating various films, laminating adhesives have evolved into the perfect options for creating films with novel functions. They are used more frequently in various packing applications that demand powerful bonding. During the projected period, there is anticipated to be a significant increase in the demand for flexible packaging across several industries. The need for cyanoacrylate-based structural adhesive products is anticipated to rise in the upcoming years. Plastics, rubber, and metal substrates can all be joined together with cyanoacrylates. They can be applied to plastic tubing, IV tube sets, and needle bonding.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 4.8 Billion |
| CAGR | 6.9% (2021–2027) |
| Base Year | 2020 |
| Forecast Period | 2021–2027 |
| Historical Data | 2019 |
| Forecast Units | Value (Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, Resin, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The advent of flexible packaging across the globe and the convenience offered by the flexible packaging. |
| The governmental support for the growth of processed agrifoods, and increasing demand for frozen food |
Market Competitive Landscape:
The prolific contenders in the laminating adhesives market are:
- Henkel AG & Co. KGaA (Germany)
- H.B. Fuller Company (US)
- Vimasco Corporation (US)
- Toyo-Morton, Ltd (Japan)
- 3M (US)
- DowDuPont (US)
- Coim Group (Italy)
- Ashland (US)
- Bostik (US)
- Flint Group (Luxembourg)
- LD Davis (US)
Market U.S.P. Covered:
Market Drivers:
Over time, it is anticipated that rising pharmaceutical requirements for tablets, pouches, and medical equipment will support market expansion. Healthcare needs are developing quickly due to a growing population and an increasing percentage of the elderly in some countries. When attaching paper, plastics, and aluminum, lamination adhesive products are widely used in healthcare packaging. Market expansion is projected to be aided by advances in plastic packaging and a focus on boosting machine productivity through cutting-edge packaging materials. The global adoption of flexible packaging, ease, and other features are driving the laminating adhesives industry's overall expansion.
Additionally, it is anticipated that rising demand for frozen foods and governmental backing for developing processed agrifoods will boost the market value for laminating adhesives. The widespread use of laminating adhesives in consumer devices and the electrical sector is anticipated to expand the laminating adhesives market. Due to government rules established throughout industrialized countries, the requirement for water-based laminating adhesives is rising relative to solvent-based adhesives, creating the profit potential for the industry's overall growth.
Market Restraints:
Despite their greater performance, government laws were limiting the use of the solvent-based laminating adhesives. Water-based adhesives, on the other hand, are suggested for industrial uses. The drying and curing procedures for water-based adhesives take a long time, and the different flow properties and other problems, such as drying water in humid conditions, are some of the main barriers to the market's expansion for laminating adhesives.
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COVID 19 Analysis
In 2020, COVID-19 hurt the market. Several countries worldwide imposed a state of emergency due to the pandemic scenario to stop the virus from spreading. Lockdowns disrupt the supply and demand chains, hurting many end-user industries, such as packaging and transportation. However, things should start improving in 2021, which would help the market during the projected period. On the other hand, it is anticipated that growing concerns about plastic waste and the negative effects of COVID-19 will thwart market expansion.
Market Segmentation
By resin, the market includes polyether urethane and ester. By type, the market includes solvent-free and solvent-based. By application, the market includes packaging, automotive interiors, and construction material.
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Regional Insights
The majority of people in the region are changing their attitudes and ways of living due to the widespread use of social media and the internet, which affect how packaged goods are consumed and how the packaging industry is supported. These elements are anticipated to support the industry's overall growth in North America for laminating adhesives. The American pharmaceutical industry's restructuring is expected to present a wide range of prospects for market vendors. Pharmaceutical businesses are concentrating on creating cost-effective goods and diversified tactics to restructure themselves. Over time, this will probably positively affect laminating adhesive goods. The world's largest market by revenue share was found to be Asia-Pacific. Long-term interest in lamination adhesives is anticipated to be attracted by rising end-use sector expansion.
The consumer goods, healthcare, and automotive industries will likely see increased production capacity due to investments in new manufacturing facilities, accelerating market growth. Due to ease and lower production costs, the manufacturing and industrial industries have adopted flexible packaging more frequently in recent years. Due to numerous manufacturing and industrial facilities in the Asia-Pacific region, the laminating adhesives market is anticipated to experience a higher growth during the projected period. Over the past few decades, nations like China and India have prospered in the contract production of pharmaceuticals. The sector's expansion has been aided by lower operating costs across all resources, including labor. Labels, bags, lids, and other medical products are in high demand in this industry.
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