The latest report by IMARC Group, titled "Laminating Adhesives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global laminating adhesives market share. The global laminating adhesives market size reached US$ 3.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.2% during 2023-2028.
Laminating adhesives represent highly functional laminate composites utilized for joining, assembling, and packaging material surfaces. They are manufactured using polyurethane, acrylic, epoxy, polyester, vinyl, nylon, aliphatic urethane, and aromatic urethane resins. Laminating adhesives are available in several variants, such as electron beam (EB), ultraviolet (UV), solvent-based, solventless, hot melt, water-based, etc. They offer high chemical and heat resistance, mechanical performance, wettability, transparency, compatibility with other materials, bond strength, etc. Consequently, laminating adhesives are widely used to pack snacks, meats, cheeses, confectioneries, medical products, agricultural chemicals, etc.
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Laminating Adhesives Market Trends and Drivers:
The escalating demand for flexible packaging solutions across numerous industries, including automotive, transportation, manufacturing, construction, etc., is among the primary factors driving the laminating adhesives market. Moreover, the growing number of manufacturing units, food processing plants, industrial production setups, etc., is resulting in the shifting consumer preferences towards laminating adhesives to secure flexible packaging materials, thereby propelling the market growth. In addition to this, the rising product requirement in the automotive industry for use in the display modules, fenders, grill opening reinforcement (GOR), heat shields, headlamp reflectors, body panels, etc., of automobiles, to protect surfaces from environmental damage and enhance the overall aesthetic appeal, is acting as another significant growth-inducing factor. Furthermore, the increasing adoption of laminating adhesives as a replacement for nuts and bolts owing to their higher bonding strength and lower cost of production is anticipated to stimulate the global market in the coming years.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Resin:
- Acrylic
- Polyurethane
- Others
Breakup by Technology:
- Solvent-based
- Water-based
- Others
Breakup by Application:
- Packaging
- Automotive and Transportation
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 3M Company
- Ashland Global Specialty Chemicals Inc.
- Bostik SA (Arkema S.A)
- Coim Group
- DIC Corporation
- Dow Inc.
- DuPont de Nemours Inc.
- Evonik Industries AG
- Flint Group
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- L.D. Davis Industries Inc.
- Sika AG
- Vimasco Corporation.
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