Laminating Adhesives Market Insights, Growth, Opportunity, Share, Top Players, Graph, Key Drivers, Segmentation

Posted by Jack Martin on April 16th, 2024

The Laminating Adhesives Market is projected to reach a market size of USD 5.1 billion by 2028 from USD 3.6 billion in 2022, at a CAGR of 5.8%. Laminating adhesives are specialized materials used to bond or laminate multiple layers of substrates together. These adhesives are commonly used in industries such as packaging, automotive, electronics, and construction. They provide a strong and durable bond between different materials, such as films, foils, papers, and textiles, creating a composite structure with enhanced properties like barrier resistance, strength, and aesthetics. Laminating adhesives can be solvent-based, water-based, or hot-melt formulations, chosen based on the specific requirements of the application.

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Polyurethane laminating adhesives accounted for the largest share of the overall laminating adhesives market, in terms of volume, in 2022. Polyurethane laminating adhesives offer good adhesion to rubber, leather, textiles, metal, paper, wood, and plastics. They have excellent resistance to solvents and chemical products and also have a low application temperature, which makes them suitable for heat-sensitive substrates. Based on various compositions, polyurethane laminating adhesives are used in a wide range of applications in the automotive industry. The increasing use in the automotive industry to reduce vehicle weight is driving the market for polyurethane laminating adhesives. 

In terms of volume, the market for solvent-based technology segment was more than half of the overall market size, in 2022. Due to rising demand from the packaging industry for stand-up pouches, coffee bags & pouches, snack food packaging, frozen food packaging, confectionary packaging, and condiment packaging applications, solvent-less is the laminating adhesives market's fastest-growing technology segment. The production of water-based technology is becoming more popular among laminating adhesive manufacturers as a result of growing environmental concerns and stricter VOC standards. This has increased demand for water-based laminating adhesives. Solvent-based technology has recently seen a considerable market share loss to water- and solvent-less technology. 

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The packaging industry is the largest consumer of laminating adhesives. This segment is expected to dominate the overall laminating adhesives market owing to the rising demand for packaged food products. The increasing demand for flexible packaging offers opportunities for the growth of the laminating adhesives market in the food & beverage packaging application. Owing to busy and hectic lifestyles, consumers opt for convenient meals. This increases the demand for ready-to-eat meals in a flexible packaging format. Flexible packaging is the most cost-effective method to package, preserve, and distribute food, beverages, pharmaceuticals, and other products that need extended shelf life. These factors are expected to drive the demand for laminating adhesives in the packaging industry. 

Asia Pacific is the fastest-growing laminating adhesives markets. This growth is attributed to the high demand for lightweight, consumer-friendly, and easy-to-handle products. Growing focus on sustainability, increased need for an extended shelf life of packaged products, rising standards of hygiene, and consumer focus on ease of use are also some of the drivers of the laminating adhesives market in the region. There is a rapid expansion of end-use industries such as food & beverages, healthcare, and cosmetics & toiletries.

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The key players in the global laminating adhesives market include Henkel AG (Germany), 3M (US), H.B. Fuller (US), The Dow Chemical Company (US), Arkema S.A. (France), Sika AG (Switzerland), DIC Corporation (Japan), Pidilite Industries (India), DuPont (US), Flint Group (Luxembourg) and others. COIM Group (Italy), Vimasco Corporation (US), Franklin International (US), Master Bond Inc. (US), Fujifilm Corporation (Tokyo) are some of the startups in the global laminating adhesives market.