Laminating Adhesives Market by Resin Type (Polyurethane, Acrylic, and Others), Technology (Solvent-based, Solvent-less, Water-based, and Others), End-Use Industry (Packaging, Industrial, and Automotive & Transportation): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 3.06 billion mark in 2022 and is expected to hit US$ 4.98 billion by 2030, recording a CAGR of 6.0% during the forecast period.
Demand for laminating adhesives remains high in the food packaging industry.
The rapid growth of the frozen food packaging market, constructive regulations on the use of laminating adhesives in food packaging and fast-track approvals from controlling bodies such as the Food and Drug Administration (FDA) are some of the major features augmenting the growth of this segment. Also, the increasing usage of water-based laminating adhesive in the food packaging industry, due to its various compensations such as high wettability and less VOC emission will further assistance in the expansion of this segment.
Within the report, the market is segmented into resin type, technology, end-use industry, and geography. By resin type, the market is further segmented into polyurethane, acrylic, and others. On the basis of technology, the market is segmented into solvent-based, solvent-less, water-based, and others. Based on the end-use industry, the market is divided into packaging, industrial, and automotive & transportation. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
The use of water-based, and solvent base solvents adhesive is on the rise.
The market for water-based laminating adhesives is being driven by strict environmental restrictions. Due to increased concerns about waste generation and pollution, more people are using water-based laminating adhesives. In the automotive industry, one-part systems and high-performance laminations are made with water-based laminating adhesives.
The demand for acrylic and maleic resins, which make up a significant portion of all water-based adhesives produced globally, is anticipated to rise in response to the increased interest in water-based laminating adhesives.
The rising adoption of polyurethane is one of the major factors accelerating market growth.
Urethane polymers are used to make polyurethane laminating adhesives. Diisocyanate and polyol undergo a chemical reaction to make urethane. Due to their toughness, abrasion resistance, flexibility (particularly at low temperatures), and adherence to a wide range of substrates, polyurethane laminating adhesives are employed in various applications. They are flexible and strong, have a low cure temperature, have great low-temperature resistance, and have a high level of environmental resistance, among other qualities. In accordance with the structure of the thermoset or elastomer and the curing procedures, one-component polyurethane laminating adhesives are possible. They are employed in the textile, packaging electronics, automotive and transportation and industries.
Recent strategic developments in laminating adhesives market
The laminating adhesives market has undergone several significant developments, and a few of these have been mentioned below:
- Arkema (Bostik) has acquired the performance adhesive businesses for industrial application to become a pure specialty materials player in August 2020.
The laminating adhesives market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Henkel AG, 3M Company, Arkema, Sika AG are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Packaging-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policymakers
- Venture capitalists, private equity firms, and start-up companies
- Semiconductor component suppliers
- Raw material distributors and sales firms
- End users of laminating adhesives
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Resin Type:
- End-use industry:
- Automotive & Transportation
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Henkel AG
- 3M Company
- Sika AG
- Henkel AG
- 3M Company
- Sika AG